Consistently recognized as one of the leading restructuring lawyers in the United States, Chambers USA describes George as “impressive” and “a real leader in the bankruptcy space."

Chambers USA

George A. Davis

New York
  • 885 Third Avenue
  • New York, NY 10022-4834
  • USA

George Davis, Global Co-Chair of Latham’s Restructuring, Insolvency & Workouts Practice, represents public and private companies, creditors, and investors in a broad range of restructuring matters, including chapter 11 cases, cross-border insolvency matters, out-of-court restructurings, and bankruptcy-related acquisitions and financings. Mr. Davis has helped clients across numerous industries with innovative and comprehensive solutions to some of the most complex and contentious restructurings of the past three decades.

Some of Mr. Davis' significant company restructuring representations have included advising Verso Corporation, LyondellBasell Industries, New Page Corporation, Cal Dive International, Entegra Power Holdings, Ocwen Financial, Patriot Rail Company, Caribbean Petroleum Corporation, Xerium Technologies, Saint Vincent Catholic Medical Centers, IMPATH, Inc., The Portland Trailblazers, Bethlehem Steel Corporation, Sunbeam Corporation, Carmike Cinemas, DIMAC Holdings, McCulloch Corporation, Factory Card Outlet Stores, and Marvel Entertainment, Inc. Mr. Davis also has extensive experience representing creditors and investors, such as Apollo, Franklin Templeton, General Motors, Bank of America, PSEG, AIG, Avenue Capital, Solus Capital, Oaktree, Centerbridge, and TCW, in many of the highest-profile restructurings in recent years.
Mr. Davis has broad experience helping companies, creditors, and investors respond to business challenges with innovative solutions across numerous industries, including:

  • Energy (power, E&P, and E&P services)
  • Chemicals
  • Metals
  • Manufacturing
  • Real estate
  • Gaming
  • Financial services
  • Retail
  • Telecommunications
  • Airlines
  • Healthcare

Consistently recognized as one of the leading restructuring lawyers in the United States, Chambers USA describes Mr. Davis as “impressive” and “a real leader in the bankruptcy space,” while IFLR 1000 lauded him as “superb and fantastic” in part “due to his success in building consensus among groups with extremely different viewpoints.” Likewise, The Legal 500 US named Mr. Davis a Leading Lawyer for his work in Restructuring and Bankruptcy in 2017, and described him as “excellent, very professional and a pleasure to work with.” Corporate Counsel has praised him for his “outstanding knowledge, timely delivery of work and quick response time.” Mr. Davis has also achieved national “litigation star” status in Benchmark Litigation. He is frequently recognized in The Best Lawyers in America for his Bankruptcy and Creditor-Debtor Rights, Insolvency and Reorganization, and Bankruptcy Litigation work, and, as part of this recognition, clients “recommend George to run any deal” and describe him as “extremely smart and thoughtful” and praise his “ability to find solutions to difficult problems and to build consensus amongst warring factions.”

Law360 named Mr. Davis their Bankruptcy MVP in 2012 and 2014 for his innovative role in energy restructurings, including Dynegy, AES Eastern Energy, and EME Homer City, and Turnarounds & Workouts has praised Mr. Davis for his exceptional achievements and has recognized him as an Outstanding Restructuring Lawyer on several occasions, most recently in 2015.

Mr. Davis is a frequent lecturer, speaker, and writer on restructuring, bankruptcy, and insolvency topics, and he has served as an Adjunct Professor at the Georgetown University Law Center.

Company Experience

  • Verso Corporation and New Page Corporation, leading North American producers of printing papers, specialty papers, and pulp, in all aspects of their chapter 11 cases. *
  • LyondellBasell Industries, one of the world’s largest polymers, petrochemicals, and fuels companies, in all aspects of its chapter 11 proceedings and discharge of US$40 billion of funded debt and contingent liabilities:
    • 2010 Turnaround Award of the Year from M&A Advisor
    • 2010 Restructuring Deal of the Year Award from Investment Dealers’ Digest
    • IFLR Europe 2011 Restructuring Deal of the Year Award
  • Cal Dive International, a market leading oil and gas infrastructure company, in all aspects of its ongoing chapter 11 cases. Winner of 2010 Turnaround Award of the Year from M&A Advisor. *    
  • Entegra Power Holdings, an independent power company with ownership interests in two of the largest gas-fueled power plants in the US, in effecting a substantial deleveraging through a quick and efficient prepackaged chapter 11 case. Winner of 2014 Restructuring of the Year for 2014 by Turnaround & Workouts. *
  • Ocwen Financial, a leading non-bank mortgage servicer, in developing and executing its successful liability management strategy involving over US$10 billion of funded debt Patriot Rail Company, a privately held short-line rail holding company, in developing and executing its successful out of court liability management strategy. *    
  • Caribbean Petroleum Corporation, a Puerto Rico-based company involved in the import, offloading, storage, distribution, and retailing of petroleum products, in all aspects of its chapter 11 case. Finalist for IFLR Americas 2012 Restructuring Deal of the Year Award. *
  • Xerium Technologies, a leading global developer and supplier of highly engineered products used in the production of paper, in effecting a substantial deleveraging through a quick and efficient prepackaged chapter 11. *
  • Saint Vincent Catholic Medical Centers, the largest Catholic hospital system in New York State, in all aspects of its chapter 11 proceedings, including the sale of three non-core hospitals *
  • IMPATH Inc., a cancer-testing and analysis company, in all aspects of its chapter 11 case. The restructuring process culminated in the sale of IMPATH’s Physician Services business unit to Genzyme Corporation, continued employment for thousands of employees, payment in full for all creditors, and residual distributions to IMPATH shareholders. *
  • The Portland Trailblazers, in this National Basketball Association franchise’s successful out-of-court negotiations to restructure the team’s stadium lease and to contingency plan. *
  • Bethlehem Steel Corporation, then the second-largest integrated steel manufacturer in the US, in all aspects of its chapter 11 proceedings. As part of the chapter 11, Bethlehem Steel sold all of its steel making operations to International Steel Group (ISG), who agreed to employ substantially all of Bethlehem Steel’s workforce. *
  • Sunbeam Corporation, maker of household appliances and camping equipment, in all aspects of its chapter 11 case. *
  • Carmike Cinemas, Inc., then the third largest movie theatre chain in the US, in all aspects of its chapter 11 case, including terminating leases and closing more than 130 unprofitable theatres, and restructuring around its core profitable theatres. As a result of these efforts, under Carmike’s confirmed plan of reorganization, all allowed creditor claims were satisfied in full, with interest. *
  • DIMAC Holdings, a direct response marketing vendor that operated 22 direct mail and production facilities in the US, in all aspects of its chapter 11 case. DIMAC’s plan of reorganization resulted in a significant reduction of total debt for the reorganized company. *
  • McCulloch Corporation, a manufacturer of chainsaws and other outdoor power tools, in all aspects of its chapter 11 case. McCulloch’s restructuring efforts culminated in separate sales of its European and North American businesses. *
  • Factory Card & Party Outlet Corporation, a discount retailer of party supplies, greeting cards, gift-wrap, and other special occasion merchandise that operated 172 company-owned retail stores, in 20 states, in all aspects of its chapter 11 proceedings. As a result of the restructuring, total debt was substantially reduced, and the company, including its over 3,000 employees, benefitted from an enhanced competitive market position. *
  • Marvel Entertainment, Inc., the largest comic book publisher in the US as well as the top producer of trading cards, in all aspects of its chapter 11 proceedings. Marvel Entertainment emerged from chapter 11 through a merger with Toy Biz Inc. *

Creditor and Investor Experience

  • Stone Energy. Representing Bank of America, as administrative agent under the revolving credit facility, in connection with the restructuring of Stone Energy Corporation. *
  • Bennu Oil & Gas. Representing Wilmington Trust, as successor second lien term loan agent, in connection with the restructuring of Bennu Oil & Gas. *
  • Homer City. Representing an ad hoc group of secured bondholders issued by Homer City Funding, L.P. *
  • Coso Geothermal. Representing holders of lessor notes in the potential restructuring of Coso Geothermal. *
  • GenOn Energy. Representing significant party in interest in the potential restructuring of REMA, a subsidiary of GenOn Energy. *
  • Dynegy. Represented US Bank, N.A. as trustee for the holders of secured notes guaranteed by subsidiaries of Dynegy Holdings, LLC in the bankruptcy of Dynegy Holdings, one of the more contentious bankruptcies in recent years. Mr. Davis challenged Dynegy’s pre-chapter 11 movements of assets by bringing a fraudulent conveyance suit in NYS. *
  • Supreme Court. Successfully sought and obtained the appointment of an examiner in the chapter 11 case, fought attempts from the debtors and other creditor groups to have the bankruptcy court cap his clients’ claims, and secured a settlement providing for payment in full with interest of his clients’ claims. *
  • Edison Mission Energy/Midwest Generation. Obtained payment in full for the holders of nearly US$400 million in secured notes secured by obligations of Edison Mission Energy and its subsidiary Midwest Generation in their chapter 11 proceedings. *
  • AES Eastern. Represented an ad hoc group of holders of certain secured notes issued in connection with the 1999 leveraged lease transaction effectuated by AES Eastern Energy, L.P. (AEE) and certain owner trusts. The noteholders credit bid their debt and became the new owners of AEE’s power plant assets. The transaction involved significant legal innovation in areas of creditors’ rights, claims treatment, securities issuance, and energy and environmental regulation. *
  • EME Homer City. Represented an ad hoc group of secured noteholders secured by obligations of EME Homer City, an affiliate of Edison Mission Energy, in a successful out-of-court restructuring that resulted in payment of his clients’ claims in full, with interest. *
  • CalGen Corporation. Represented an ad hoc group of third lien lenders. *
  • Calpine Corporation. Represented an ad hoc group of unsecured noteholders of Calpine Corporation and separately ad hoc groups of secured noteholders whose debt was secured by obligations of its subsidiary debtors Southpoint, Broad River, and Rock Gen. *
  • VeraSun Energy. Represented ad hoc group of secured bondholders and roll-up debtor-in-possession lenders. *
  • Kaiser Aluminum & Chemical. Represented ad hoc group of senior noteholders in Kaiser Aluminum’s chapter 11 case, including in successful litigation up to the Third Circuit Court of Appeals to enforce the terms of an intercreditor agreement with subordinated noteholders, which resulted in payments of his clients’ claims in full. *
  • Centro Properties Group. Represented a leading financial institution as lender and agent for a syndicate of four other US banks under a secured US$2.5 billion bridge loan facility in this highly successful, multinational out-of-court restructuring. *
  • SunCal Companies. Represented Lehman Brothers as agent for the first lien lenders. *
  • BLB Worldwide Holdings, Inc./Twin River Casino. Represented a major financial institution, as administrative agent, and the first lien lenders in assuming ownership and obtaining state finance concessions, in connection with this highly successful casino restructuring. *
  • Adelphia Communications. Represented ad hoc group of unsecured claims purchasers in securing strong recoveries on the group’s claims. *
  • Foamex LP. Represented Chilton Investment Company as lender. *
  • Galey & Lord Industries. Represented GE Capital as prepetition secured lender and roll-up debtor-in-possession lender. *
  • Pliant Corporation. Represented Merrill Lynch as prepetition secured lender and roll-up debtor-in-possession lender. *
  • Werner Holding Co. Represented Brencourt Advisors as first lien lender and acquirer. *
  • US Airways and Independence Air. Represented GECAS as primary aircraft lessor. *
  • Fred Leighton. Represented Merrill Lynch as secured lender in the chapter 11 cases. *
  • Lehman Brothers Holdings. Represented Citigroup, Inc. in the chapter 11 case. *
  • EaglePicher Technologies. Represented Goldman Sachs as DIP and exit lender. *
  • Delta Air Lines. Represented GE Capital as debtor-in-possession lender. *
  • WCI Steel, Inc. Represented Citibank as proposed exit lender. *
  • Crescent Resources. Represented Morgan Stanley as equity sponsor. *

Representative Distressed Mergers & Acquisition Experience

Mr. Davis has represented purchasers or prospective purchasers of the assets and/or businesses of the following chapter 11 debtors:

  • Sun Edison
  • Cable and Wireless plc
  • FAO Schwarz
  • Metalforming Technologies
  • New Century Financial Corporation
  • Pegasus Satellite Communications
  • Scott Cable Communications
  • Sterling Jewelers
  • Steve & Barry's
  • TLC Home Health Care
  • USA Commercial Mortgage

* Matter handled prior to joining Latham.

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