• David E. Blabey, Jr., represents diverse parties, including official creditors’ committees, bondholders, secured and unsecured creditors, hedge funds and other investors, and debtors, in complex Chapter 11 bankruptcy cases, out-of-court restructurings and other distressed situations. Well known throughout the industry for his brief-writing skills, as well as his strategic litigation and appellate proficiency, David has represented clients in major litigations both within and outside the Chapter 11 context, including in bankruptcy courts, district courts and the U.S. Courts of Appeal nationwide, as well as in the Supreme Court.

    David’s representations include the ad hoc group of governmental claimants in the Purdue Pharma bankruptcy; the official committees of unsecured creditors of Gulfport Energy, Hertz Corporation, Residential Capital, General Motors and Chrysler; ad hoc groups of bondholders in the bankruptcies of LATAM Airlines, Peabody Energy and Caesars Entertainment; and the official committee of equity security holders of W.R. Grace. David has also represented various Chapter 11 debtors and, outside of bankruptcy, has played a major role in litigation over Puerto Rico’s debt restructuring efforts and has advised on and litigated issues relating to credit default swaps.

    David regularly advises directors and officers, sponsors, and liquidating trusts on insurance and corporate governance matters, and has brought and defended suits alleging breaches of fiduciary duty, fraud, fraudulent transfer and lender liability, both within and outside of bankruptcy court. David also has particular experience regarding directors and officers (D&O) insurance structuring and litigation as they relate to pre- and post-bankruptcy matters. His representations include the Toys “R” Us liquidating trust, the independent directors of Southcross Energy, and various real estate or “hard money” lenders. 

    David is the editor of the Kramer Levin bankruptcy blog, has contributed to the Collier on Bankruptcy treatise, and has written on numerous issues related to Chapter 11 bankruptcy and corporate law.

    Experience

    • Endo International plc – Representation of the Official Committee of Unsecured Creditors in the bankruptcy cases of Endo International plc, one of the country’s largest pharmaceutical companies, which involves numerous cutting edge litigations and lien challenges as well as issues attendant to mass tort cases.

    • Purdue Pharma LP  Representation of the Ad Hoc Committee comprising 10 states’ attorneys general, six municipalities, the Plaintiffs Executive Committee in the multidistrict opioid litigation and a federally recognized Native American tribe. The representation included restructuring and settlement negotiations, which culminated in a settlement structure that served as a framework for the Chapter 11 cases and contemplated the entirety of the company being turned over to creditors and a $4.3 billion guaranteed contribution to be made from the Sacklers as equity holders, as well as a six-month mediation over the allocation of value among creditors, which successfully resulted in an agreement on the allocation of value between public creditors and the four main private creditor groups. The public creditors also reached agreement on a default mechanism for applying abatement funds nationwide a critical issue in addressing the ongoing opioid epidemic.

    • Gulfport Energy Corporation — Representation of the Official Committee of Unsecured Creditors of Gulfport Energy Corporation, in connection with the successful Chapter 11 restructuring. 

    • The Hertz Corporation  Representation of the Official Committee of Unsecured Creditors.

    • LATAM Airlines — Representation of a large group of funds holding over $5.5 billion in face amount of unsecured claims against LATAM Airlines, a Chilean company and the largest airline in Latin America, which filed for bankruptcy in May 2020.

    • Commonwealth of Puerto Rico – Representation of several of the commonwealth’s largest bondholders in successful litigation before the district court, 1st U.S. Circuit Court of Appeals, and Supreme Court challenging the constitutionality of the commonwealth’s Debt Enforcement and Recovery Act, and in ongoing proceedings under the federal PROMESA restructuring law.

    • Toys “R” Us – Representation of the Official Committee of Unsecured Creditors in the bankruptcy cases of Toys “R” Us and certain of its affiliates.

    • Caesars Entertainment – Representation of an ad hoc group of bondholders holding in excess of $3.5 billion of first priority senior secured bonds issued by Caesars Entertainment Operating Company in connection with its, and certain of its affiliates’, bankruptcy cases.

    • Peabody Energy – Representation of holders of over $1 billion of secured and unsecured claims in the bankruptcy case of Peabody Energy, the world’s largest publicly traded, private-sector coal company, and in related appeals.

    • Residential Capital – Representation of the Official Committee of Unsecured Creditors, playing a major role in litigation concerning, among other things, the secured status of the Debtors’ junior secured notes and the scope of the Debtors’ liability for residential mortgage-backed securities “put-back” claims.

    • TOUSA, Inc. – Representation of certain holders of certain lot option agreement claims in successful litigation before the Bankruptcy Court, District Court, and Eleventh Circuit concerning the senior status of those claims.

    • W.R. Grace – Representation of the Official Committee of Equity Security Holders in a long-running and hotly-contested bankruptcy that ultimately resulted in a plan of reorganization that left the great majority of the equity in the hands of pre-petition shareholders – an unprecedented result in an asbestos-driven bankruptcy.

    • American Airlines – Representation of bondholders and indenture trustees for approximately $2 billion in airport revenue bonds in all facets of the company’s chapter 11 restructuring.

    • General Motors – Representation the Official Committee of Unsecured Creditors, playing a key role in litigation concerning the company’s section 363 asset sale and the estimation of its asbestos liabilities.

    • Chrysler – Representation of the Official Committee of Unsecured Creditors, including in litigation before the Second Circuit concerning the company’s section 363 asset sale.

    • First Mariner Bancorp – Representation of the company, playing a central role in all aspects of its pre-petition restructuring efforts and subsequent chapter 11 filing.

    • General Maritime – Representation of the debtor, one of the largest shipping companies in the world, as part of the core bankruptcy team.

    • Saint Vincent Catholic Medical Centers – Representation of the debtor, a prominent heath care system with operations throughout New York City and surrounding counties. 

    Credentials

    Education

    • J.D., New York University School of Law, 2004
      • Articles Editor, Annual Survey of American Law
    • B.A., History, magna cum laude, Amherst College, 2000

    Bar Admissions

    • New York

    Clerkships

    • Honorable Gary L. Sharpe, U.S.D.C., Northern District of New York, 2007 - 2008

    Court Admissions

    • U.S. Supreme Court
    • U.S.C.A., 1st Circuit
    • U.S.C.A., 2nd Circuit
    • U.S.C.A., 11th Circuit
    • U.S.D.C., Southern District of New York
  • *No aspect of this advertisement has been approved by the Supreme Court of New Jersey. A description of the Super Lawyers selection methodology can be found here.