Marc A. Levinson is a partner in the Restructuring Group. His practice concentrates on insolvency planning, bankruptcy cases, out-of-court reorganizations and workouts. He represents secured and unsecured creditors, acquirers of assets from insolvent companies, debtors, indenture trustees, committees, public entities and bankruptcy trustees. He has twice been an examiner in a Chapter 11 case, and frequently serves as a mediator of bankruptcy-related disputes.
Mr. Levinson is nationally recognized as a leading municipal bankruptcy lawyer by such publications as Chambers USA and Legal500. In April 2009, he was selected as one of the “Dealmakers of the Year” by The American Lawyer for his role in the Vallejo Chapter 9 case, has been named by the Daily Journal as one of California’s Top 100 Lawyers four times, including in 2013, and was selected by the Daily Journal as one of California’s Top 25 Municipal Lawyers in 2011, 2012 and 2013 for his work in the Chapter 9 representation of Stockton and Vallejo. In 2012, he was named one of the “California Attorneys of the Year” by California Lawyer, the magazine of the State Bar.
A sample of notable recent engagements includes the following.
- City of Stockton, California. Mr. Levinson is the lead insolvency lawyer on the Orrick team that filed a Chapter 9 case for this city of more than 295,000 residents in June 2012, making it the largest California city to seek bankruptcy relief. The filing followed an exhaustive 90-day statutorily-mandated mediation process involving major creditors in which Orrick worked with Stockton and its advisors to prepare a detailed proposal to restructure the material claims against the City. Orrick’s work for the City has generated multiple precedent-setting opinions relating to limits on the powers of a bankruptcy court to direct a municipality’s governmental decisions in a Chapter 9 case. On October 30, 2014, the bankruptcy court orally confirmed the City’s plan of adjustment.
- City of Vallejo, California. Mr. Levinson was the lead insolvency lawyer on the Orrick team that filed a Chapter 9 case for this city of more than 120,000 residents in May 2008. The case generated cutting edge legal issues, as well as litigation over a number of hotly-contested factual issues, including those relating to Vallejo’s insolvency and its eligibility to be a Chapter 9 debtor. Its plan of adjustment went effective in late 2011.
- Official Committee of Equity Security Holder of USA Capital Diversified Trust Deed Fund LLC. Mr. Levinson led an Orrick team in representing the interests of approximately 1,300 investors whose cumulative investment exceeded US$150 million. The Diversified case was one of five companion Chapter 11 cases pending in Las Vegas. The total investment in the Chapter 11 debtors approximated US$1 billion. The joint plan of reorganization went effective on March 12, 2007, and Orrick now represents the revested Diversified Fund.
- Oxford Automotive and Polymer Group. Mr. Levinson was the lead bankruptcy partner in Orrick’s representation of a multibillion dollar distressed debt fund that acquired a controlling interest in the publicly-traded notes of two 1934 Act reporting companies. Through confirmation of consensual Chapter 11 plans (Oxford in Detroit and Polymer Group in Columbia, SC), the client acquired majority interests in the post-reorganization companies, each with a balance sheet de-levered by hundreds of millions of dollars.
- Colo.com. Mr. Levinson represented the creditors’ committee in this San Francisco Chapter 11 case of a failed colocation facility empire. During the case, which concluded with a confirmed plan of liquidation, more than 20 locations, including real estate leases and personal property, were sold as a going concern to one buyer; additional leases and equipment were sold to other buyers.
- Tri Valley Growers. This California cooperative was among the largest canners and processors of fruit in the world. In Tri Valley’s Chapter 11 case, Mr. Levinson represented a publicly-traded insurance company owed in excess of US$120 million of term debt secured by various canneries and the equipment located there. The matter was resolved consensually when Orrick’s client purchased the California operation (including assets not in its collateral package) obtaining full credit for its debt.
- IRM Corporation. Mr. Levinson headed a team of Orrick lawyers in the representation of 22 affiliated companies in Chapter 11 cases filed in Sacramento. The confirmed joint plan of reorganization resulted in the restructuring of approximately US$165 million of senior secured institutional debt and the creation of more than US$100 million in equity for investors. The reorganization plan, which was consensual among all constituencies, was the largest ever confirmed in the Sacramento bankruptcy court.
Mr. Levinson frequently lectures on bankruptcy, insolvency and corporate reorganization topics. He has spoken to numerous bar associations as well as to in-house counsel and business people at large corporations such as Wells Fargo Bank, Goldman Sachs, Mitsubishi Electric America and Lend Lease. Mr. Levinson is a conferee of the National Bankruptcy Conference, is the Secretary of the American College of Bankruptcy, and is a past president of the California Bankruptcy Forum. He has served as a guest lecturer at the U.C. Davis School of Law, Stanford Law School, the Pacific McGeorge School of Law, the University of Washington School of Law and the University of Southern California Law Center.
Prior to joining Orrick, Mr. Levinson was a partner at Sidley & Austin in Los Angeles from 1980 to 1990. He was an associate and partner at Shutan & Trost in Los Angeles from 1975 to 1980.