Todd M. Goren

Todd M. Goren

Education

Washington University in St. Louis (B.S., 1998)
Georgetown University Law Center (J.D., 2002)

Bar Admissions

New York

Todd has advised clients on all facets of complex chapter 11 reorganizations, representing official committees, debtor-in-possession lenders, and debtors in a number of prominent insolvency matters.

His restructuring experience spans numerous industries, such as real estate, mortgage lending, transportation, technology, telecommunications, retail, and energy. His skillset includes representing parties in the purchase and sale of aircraft-related securities, with particular experience in complex aircraft financing transactions and all aspects of airline-related restructurings.

He also has significant experience with bankruptcy matters involving Section 363 sales; intellectual property issues; the treatment of environmental claims; and cross-border insolvencies, including proceedings under chapter 15 of the Bankruptcy Code.

Todd is recommended by Legal 500 US, where sources note that he “conveys difficult concepts clearly and concisely.”

Rankings

  • Recommended for Corporate Restructuring – Legal 500 US 2018

In re Westmoreland Coal Company, et al.
(Bankr. S.D. Tex.) Counsel to the official committee of unsecured creditors of Westmoreland Coal Company and affiliated debtors. Westmoreland is the sixth largest coal-mining enterprise in North America. After conducting an exhaustive investigation and following weeks of negotiations with the company and the secured lenders, the Committee supported the sale of substantially all of Westmoreland Coal Company’s assets and confirmation of a plan that provides for an ongoing business and the best distribution to creditors under the circumstances.


In re The NORDAM Group, Inc., et al.
(Bankr. D. Del.) Counsel to the official committee of unsecured creditors of aerospace manufacturer The NORDAM Group, Inc. and affiliated debtors. At the time of filing, NORDAM had approximately $286 million in funded debt and was engaged in a five-year dispute with Pratt & Whitney Canada Corporation over a long-term agreement for the manufacturing of nacelle systems used in Gulfstream Aerospace Corp. aircraft. The Committee supported NORDAM’s decision to sell its interest in the program to Gulfstream and thereafter negotiated a plan of reorganization that provided for an equity investment and payment of all unsecured claims in full with interest.


In re Real Industry, Inc.
(Bankr. D. Del.) Counsel to Real Industry, Inc., Real Alloy Recycling, Inc., and their affiliated debtors in their chapter 11 cases. Real Industry is a holding company with approximately one billion dollars in tax attributes. Real Alloy, a subsidiary of Real Industry, is a large-scale recycler of aluminum with operations throughout the United States, Canada, Mexico, and Europe. The debtors collectively filed for chapter 11 to restructure approximately $400 million in funded debt obligations and approximately $75 million in other obligations. In May 2018, Real Industry’s chapter 11 plan, which preserved its tax attributes, went effective and Real Alloy closed a sale of all its assets and operations, preserving 2,000 jobs and critical business relationships.


In re Ciber, Inc., et al.
(Bankr. D. Del.). Counsel to Ciber, Inc. and its affiliated debtors, industry leaders in information technology, consulting, and outsourcing services, in their chapter 11 cases. Advised the companies in the successful 363 sale of substantially all of their North American and Indian assets for $90.7 million, nearly doubling the initial stalking horse bid, and assisted with the development of a liquidating plan providing for the distribution of sale proceeds and remaining value to stakeholders.


In re Avaya Inc., et al.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors for international telecom company Avaya Inc. and its affiliated debtors. Avaya had more than $6 billion of secured debt at the time of its filing and was saddled with significant pension underfunding liabilities for its domestic and certain foreign affiliates.


In re Republic Airways Holdings Inc.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of Republic Airways Holdings Inc. and its affiliated debtors in their chapter 11 cases. Republic provides regional passenger services through its wholly owned subsidiaries, Shuttle America and Republic Airlines, which operate approximately 1,000 daily flights through codeshare agreements with United Continental Holdings, Inc., Delta Air Lines, Inc., and American Group, Inc.


In re Energy Future Holdings Corp., et al.
(Bankr. D. Del.) Counsel to the official committee of TCEH unsecured creditors in the chapter 11 cases of Texas power company Energy Future Holdings Corp. and its affiliates, which filed for bankruptcy in April 2014. This is the 10th largest bankruptcy in U.S. history with the debtors holding approximately $40 billion in debt.


In re Residential Capital, LLC, et al.
(Bankr. S.D.N.Y.) Acted as counsel to Residential Capital and its affiliates, comprising one of the largest residential real estate finance companies at the time of its chapter 11 filing, with assets and liabilities each in excess of $15 billion. The debtors’ business was comprised primarily of loan servicing and origination. Residential Capital was the largest bankruptcy filing of 2012 and the case represents the first time ever that a mortgage servicer was able to successfully continue servicing and originating mortgages in bankruptcy and be sold as a going concern.


In re Global Aviation Holdings Inc., et al.
Representation of the official committee of unsecured creditors in the chapter 11 cases of In re Global Aviation Holdings Inc., et al.


In re Los Angeles Dodgers LLC, et al.
(Bankr. D. Del.) Representation of the official committee of unsecured creditors of the Los Angeles Dodgers in its chapter 11 bankruptcy. A plan of reorganization was confirmed by the bankruptcy court on April 13, 2012, pursuant to which the baseball team was sold for a record $2 billion. Unsecured creditors received a 100% cash recovery under the plan, in what is the largest and most successful restructuring of a sports franchise in U.S. history.


In re Caribbean Petroleum Corp., et al.
(Bankr. D. Del.) Represented the official committee of unsecured creditors of Caribbean Petroleum Corp., one of the primary importers and distributors of petroleum products in Puerto Rico, in its chapter 11 case. We successfully negotiated a $24 million insurance buy back from Caribbean Petroleum's liability insurance carrier for the benefit of general unsecured creditors.


In re Hawaiian Telcom Communications, Inc., et al.
(Bankr. D. Haw.) Represented the official committee of unsecured creditors of Hawaiian Telcom, the leading provider of telecommunications services in the State of Hawaii.


In re General Growth Properties Inc., et al.
(Bankr. S.D.N.Y.) Representation of Eurohypo Bank AG’s New York Branch and a group of lenders that had more than $2.6 billion of exposure to GGP. Soon after confirmation of GGP’s reorganization plan, MoFo worked with the agent to defeat GGP’s objection to the agent’s claim for default interest on the loan, and obtained an order from the bankruptcy court awarding the agent, for the benefit of the lenders, almost $100 million in contract-rate default interest. The decision was appealed by GGP and in early 2013, prior to the court ruling, the parties settled on favorable terms to our client.


In re Qimonda AG
(Bankr. E.D. Va.) Representation of semiconductor company Qimonda AG in its chapter 15 bankruptcy case.


In re Mesa Air Group, Inc., et al.
(Bankr. S.D.N.Y.) Represented the official committee of unsecured creditors of Mesa Air Group, Inc.. in its chapter 11 bankruptcy proceedings.


The Resolution Committees of Glitnir Bank hf. and Landsbanki Islands hf.
Represented Glitnir Bank hg. and Landsbanki Islands hf., two of the largest banks in Iceland, in chapter 15 proceedings.


In re DBSD North America, Inc., et al.
Represented parent company, ICO Global Communications, in restructuring transaction/sale to DISH Networks.


In re NetEffect, Inc.
Represented Intel Corporation as DIP lender and purchaser of substantially all of the assets of NetEffect, Inc. through bankruptcy 363 sale.


In re Westmoreland Coal Company, et al.
(Bankr. S.D. Tex.) Counsel to the official committee of unsecured creditors of Westmoreland Coal Company and affiliated debtors. Westmoreland is the sixth largest coal-mining enterprise in North America. After conducting an exhaustive investigation and following weeks of negotiations with the company and the secured lenders, the Committee supported the sale of substantially all of Westmoreland Coal Company’s assets and confirmation of a plan that provides for an ongoing business and the best distribution to creditors under the circumstances.


In re The NORDAM Group, Inc., et al.
(Bankr. D. Del.) Counsel to the official committee of unsecured creditors of aerospace manufacturer The NORDAM Group, Inc. and affiliated debtors. At the time of filing, NORDAM had approximately $286 million in funded debt and was engaged in a five-year dispute with Pratt & Whitney Canada Corporation over a long-term agreement for the manufacturing of nacelle systems used in Gulfstream Aerospace Corp. aircraft. The Committee supported NORDAM’s decision to sell its interest in the program to Gulfstream and thereafter negotiated a plan of reorganization that provided for an equity investment and payment of all unsecured claims in full with interest.


In re Real Industry, Inc.
(Bankr. D. Del.) Counsel to Real Industry, Inc., Real Alloy Recycling, Inc., and their affiliated debtors in their chapter 11 cases. Real Industry is a holding company with approximately one billion dollars in tax attributes. Real Alloy, a subsidiary of Real Industry, is a large-scale recycler of aluminum with operations throughout the United States, Canada, Mexico, and Europe. The debtors collectively filed for chapter 11 to restructure approximately $400 million in funded debt obligations and approximately $75 million in other obligations. In May 2018, Real Industry’s chapter 11 plan, which preserved its tax attributes, went effective and Real Alloy closed a sale of all its assets and operations, preserving 2,000 jobs and critical business relationships.


In re Ciber, Inc., et al.
(Bankr. D. Del.). Counsel to Ciber, Inc. and its affiliated debtors, industry leaders in information technology, consulting, and outsourcing services, in their chapter 11 cases. Advised the companies in the successful 363 sale of substantially all of their North American and Indian assets for $90.7 million, nearly doubling the initial stalking horse bid, and assisted with the development of a liquidating plan providing for the distribution of sale proceeds and remaining value to stakeholders.


In re Avaya Inc., et al.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors for international telecom company Avaya Inc. and its affiliated debtors. Avaya had more than $6 billion of secured debt at the time of its filing and was saddled with significant pension underfunding liabilities for its domestic and certain foreign affiliates.


In re Republic Airways Holdings Inc.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of Republic Airways Holdings Inc. and its affiliated debtors in their chapter 11 cases. Republic provides regional passenger services through its wholly owned subsidiaries, Shuttle America and Republic Airlines, which operate approximately 1,000 daily flights through codeshare agreements with United Continental Holdings, Inc., Delta Air Lines, Inc., and American Group, Inc.


In re Energy Future Holdings Corp., et al.
(Bankr. D. Del.) Counsel to the official committee of TCEH unsecured creditors in the chapter 11 cases of Texas power company Energy Future Holdings Corp. and its affiliates, which filed for bankruptcy in April 2014. This is the 10th largest bankruptcy in U.S. history with the debtors holding approximately $40 billion in debt.


In re Residential Capital, LLC, et al.
(Bankr. S.D.N.Y.) Acted as counsel to Residential Capital and its affiliates, comprising one of the largest residential real estate finance companies at the time of its chapter 11 filing, with assets and liabilities each in excess of $15 billion. The debtors’ business was comprised primarily of loan servicing and origination. Residential Capital was the largest bankruptcy filing of 2012 and the case represents the first time ever that a mortgage servicer was able to successfully continue servicing and originating mortgages in bankruptcy and be sold as a going concern.


In re Global Aviation Holdings Inc., et al.
Representation of the official committee of unsecured creditors in the chapter 11 cases of In re Global Aviation Holdings Inc., et al.


In re Los Angeles Dodgers LLC, et al.
(Bankr. D. Del.) Representation of the official committee of unsecured creditors of the Los Angeles Dodgers in its chapter 11 bankruptcy. A plan of reorganization was confirmed by the bankruptcy court on April 13, 2012, pursuant to which the baseball team was sold for a record $2 billion. Unsecured creditors received a 100% cash recovery under the plan, in what is the largest and most successful restructuring of a sports franchise in U.S. history.


In re Caribbean Petroleum Corp., et al.
(Bankr. D. Del.) Represented the official committee of unsecured creditors of Caribbean Petroleum Corp., one of the primary importers and distributors of petroleum products in Puerto Rico, in its chapter 11 case. We successfully negotiated a $24 million insurance buy back from Caribbean Petroleum's liability insurance carrier for the benefit of general unsecured creditors.


In re Hawaiian Telcom Communications, Inc., et al.
(Bankr. D. Haw.) Represented the official committee of unsecured creditors of Hawaiian Telcom, the leading provider of telecommunications services in the State of Hawaii.


In re General Growth Properties Inc., et al.
(Bankr. S.D.N.Y.) Representation of Eurohypo Bank AG’s New York Branch and a group of lenders that had more than $2.6 billion of exposure to GGP. Soon after confirmation of GGP’s reorganization plan, MoFo worked with the agent to defeat GGP’s objection to the agent’s claim for default interest on the loan, and obtained an order from the bankruptcy court awarding the agent, for the benefit of the lenders, almost $100 million in contract-rate default interest. The decision was appealed by GGP and in early 2013, prior to the court ruling, the parties settled on favorable terms to our client.


In re Qimonda AG
(Bankr. E.D. Va.) Representation of semiconductor company Qimonda AG in its chapter 15 bankruptcy case.


In re Mesa Air Group, Inc., et al.
(Bankr. S.D.N.Y.) Represented the official committee of unsecured creditors of Mesa Air Group, Inc.. in its chapter 11 bankruptcy proceedings.


The Resolution Committees of Glitnir Bank hf. and Landsbanki Islands hf.
Represented Glitnir Bank hg. and Landsbanki Islands hf., two of the largest banks in Iceland, in chapter 15 proceedings.


In re DBSD North America, Inc., et al.
Represented parent company, ICO Global Communications, in restructuring transaction/sale to DISH Networks.


In re NetEffect, Inc.
Represented Intel Corporation as DIP lender and purchaser of substantially all of the assets of NetEffect, Inc. through bankruptcy 363 sale.


Turnarounds & Workouts recognized Mr. Goren among its “Outstanding Young Restructuring Lawyers” for 2012 and 2013. Mr. Goren has also been recommended by The Legal 500 US, where sources noted that he “conveys difficult concepts clearly and concisely.”

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