Overview

David Fischer is an attorney in Holland & Knight’s Chicago office who focuses his practice on bankruptcy, restructuring and insolvency. Mr. Fischer has more than 40 years of experience on the interplay of corporate finance and bankruptcy law.

Mr. Fischer is well-versed in handling financings, workouts, restructuring, foreclosures and Chapter 11 from virtually every constituent's perspective. His practice spans many industry sectors, with a particular focus on finance and real estate. In addition, Mr. Fischer has particular experience in the private equity space buying and selling portfolio companies from both distress and non-distress situations.

Prior to joining Holland & Knight, Mr. Fischer was co-chair of the bankruptcy practice for a global law firm.

Representative Experience

  • Represented Ector County Energy Center LLP, an ERCOT energy provider impacted by Winter Storm Uri, as the debtor in Chapter 11 proceedings that distributed the proceeds of a market-high per-megawatt price transaction resulting from a highly competitive 363 sale process through a confirmed Chapter 11 plan that invoked more than $600 million in negotiated claim caps to yield a 100 percent dividend to non-insider creditors

  • Represented a company in the purchase of operating assets in the communication technology space; the transaction was distressed and involved a purchase price in excess of $150 million dollars

  • Represented several banks, hedge funds and private equity firms in the purchase and sale of notes, mortgages and other forms of indebtedness

  • Represented several non-institutional lenders in the foreclosure of large multifamily and office projects throughout Chicagoland

  • Represented noninstitutional buyers of notes for investment purposes as well as "loan to own"

  • Represented The Northern Trust Co. in connection with its special assets (distressed) portfolio and has from time to time been seconded to the Northern Trust law department to oversee that function

  • Represented a lender in the workout foreclosure of a $40 million yacht

  • Represented a lender in a forfeiture proceeding brought by the U.S. government

  • Represented a lender in the workout of a 140 million British pound loan from a United Kingdom (UK) private equity fund

  • Leads a team in the representation of a large upscale shopping center comprising in excess of 500,000 leasable space, in connection with its day-to-day operations and creditor and real estate issues

  • Represented First Community Bank in a key successor liability case in the U.S. Court of Appeals for the Seventh Circuit Court brought by the Illinois Department of Revenue (IDOR v. Hanmi and IDOR v. First Community Bank, No. 15-053594)

  • Represented the seller of a privately held middle market corporation to a strategic buyer for a total consideration of $90 million

  • Represented a private equity firm portfolio company as a debtor in the restructure of $20 million of secured senior acquisition debt

  • Represented Continental Casualty Co. as surety and credit enhancers on the foreclosure and restructuring of public housing bonds in connection with a 30 project multistate portfolio consisting of assets in excess of $1 billion; involved multistate foreclosure and bankruptcy matters

  • Represented a tranche B debt holder in litigation against a global financial institution for breach of fiduciary arising from its handling of real estate loans as agent for both tranche A and B debt

  • Represented numerous assignees, purchasers, sellers and assignees for benefit of creditors in out-of-court sales transactions

  • Represented U.S. Gas & Electric Inc. in its acquisition by Crius Energy Trust for total consideration of $152.5 million plus $20 million in working capital, for a total purchase price of approximately $172.5 million

  • Served as legal counsel to Coral Reef Capital, a New York-based private investment firm, in its investment in Krewe Energy LLC, an oil and gas exploration and production (E&P) company based in Covington, Louisiana

  • Served as legal counsel to Coral Reef Capital in its acquisition of ROC Service Company

  • Represented Berner Food & Beverage Inc., in its sale to an Austin, Texas-based private equity firm, Peak Rock Capital, for an undisclosed value

  • Represented MVC Capital as lender or sponsor from a finance and intercreditor perspective in nearly a dozen transactions throughout the U.S. ranging in size from $25 million to 75 million

  • Represented various buyers of assets in bidding at state court foreclosure, bankruptcy 363 sales and Uniform Commercial Code (UCC) sales; over the past five years, represented many bidders in 363 sales and state court foreclosure sales, several of which have culminated in successful asset purchases

  • Represented the largest shareholder in the sale by an assignee for the benefit of creditors of assets in which there was a 100 percent overbid and a return to unsecured creditors of a 60 percent dividend

Credentials

Education
  • Boston University School of Law, J.D., cum laude
  • Yale University, B.A., magna cum laude
Bar Admissions/Licenses
  • Illinois
Court Admissions
  • U.S. District Court for the Northern District of Illinois
  • U.S. District Court for the Northern District of Illinois, Trial Bar
  • U.S. District Court for the Southern District of Illinois
  • U.S. Court of Appeals for the Seventh Circuit
  • U.S. Court of Appeals for the Eighth Circuit
Memberships
  • American Bar Association
  • American Bankruptcy Institute
Honors & Awards
  • The Best Lawyers in America guide, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, 2020-2024
  • Leading Lawyers, Bankruptcy & Workout Law: Commercial, 2019
  • Illinois Super Lawyers magazine, Bankruptcy, 2009-2019
  • Chambers USA – America's Leading Business Lawyers guide, Bankruptcy/Restructuring, 2010-2021

Publications

Speaking Engagements

News