Phil Abelson is a partner in the firm’s Business Solutions, Governance, Restructuring & Bankruptcy group. Phil’s practice focuses on debtors’ and creditors’ rights and corporate restructurings. He represents debtors, creditors, official and unofficial committees, bondholders, and third parties in both in-court and out-of-court restructurings.
Phil’s experience includes engagements in a number of different industries, including coated paper, mortgage servicing, television broadcasting, airlines, telecommunications, plastics, natural gas, health clubs, residential roofing materials, and automotive parts manufacturing.
Recently recognized as a "Rising Star" by Bankruptcy Law360, Phil was also lauded by Chambers as "an up-and-comer."
Representative Engagements:
NewPage Corporation, as counsel to the Debtors
Los Angeles Dodgers, as counsel to the Debtors
Visteon Corporation, as counsel to an ad hoc group of equityholders
Capmark Financial Group, as counsel to the Debtors
Chrysler LLC, as counsel to Chrysler Financial
Tubo de Pasteje, as counsel to the Debtors
Wellman Inc., as counsel to second lien agent
CDX Gas Inc., as counsel to second lien agent
LNR Property Corp., as counsel to the Company in an out-of-court restructuring
Texaco Inc., as counsel to the Reorganized Debtor (actions to enforce the discharge)
Granite Broadcasting Corp., as counsel to the Debtors
Delta Airlines, as counsel to the Official Committee of Unsecured Creditors
Bally Total Fitness, counsel to an ad hoc group of 1st and 2nd lien noteholders
Foamex International, as counsel to the Debtors
WCI Communities, as counsel to the Official Committee of Unsecured Creditors
Adelphia Business Solutions Inc., as counsel to the Debtors
G-I Holdings Inc, as counsel to the Debtors
Federal-Mogul Corp., as counsel to the Official Committee of Property Damage Claimants
Coram Healthcare Corp., as counsel to noteholder
Phil is the co-author of "The Public Pension Conundrum," Municipal Finance Journal (Winter 2012) and "Why the Muni Bankruptcy Avalanche Has Not Arrived," The Bond Buyer (October 29, 2010) as well as a contributor to Distressed Debt Investing (http://www.distressed-debt-investing.com/), for which he has written numerous posts.
He frequently speaks on bankruptcy and governance issues, with recent engagements including: the ABA, Business Law Section Spring Meeting, Chapter 11 Current Developments in 2013; the ABI NYC Bankruptcy Conference, Bankruptcy Fundamentals (Nuts & Bolts), Thompson Reuters Customer Summit (Corporate Governance), National Federation of Municipal Analysts, and Practicing Law Institute (Current Developments with Judge Gropper) in 2011; the National Conference of Bankruptcy Judges and VALCON in 2010; and the Heyman Center at Cardozo Law School (Distressed Investing & Deal Making) in 2009.
Most recently, Phil attended the working group session (model insolvency law) of the United Nations Commission on International Trade Law at the United Nations on behalf of the New York State Bar Association.