Marc A. Levinson

Partner
Restructuring

Marc A. Levinson is a partner in the Restructuring Group. His practice concentrates on insolvency planning, bankruptcy cases, out-of-court reorganizations and workouts. 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. 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. In October 2013, the City filed its proposed plan, which it is hopeful will be confirmed in 2014.
  • 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.

Marc Levinson
Speeches
  • Brown University Urban Studies Program ‘The Return of the Fiscal Crisis,’ “Chapter 9 and Bankruptcy Issues,” Providence, RI (November 2013)
  • Pacific McGeorge School of Law, “How to Think About Municipal Insolvencies and Chapter 9,” Sacramento, CA (November 2013)
  • Practising Law Institute, “Chapter 9 -- Recent and Possible Future Developments in Chapter 9 in Light of the Detroit, Jefferson County, Stockton and Other Cases,” Audio Webinar (October 2013)
  • Beverly Hills Bar Association Bankruptcy Law Section, “Contemporary Issues and Problems in Municipal Bankruptcy,” Beverly Hills, CA (May 2013)
  • National Federation of Municipal Analysts, 30th Annual Conference, “Chapter 9: Lessons Learned and What to Disclose,” San Diego, CA (May 2013)
  • Tenth Annual Emory Bankruptcy Developments Symposium, “Corporate Panel – Municipal Restructuring,” Atlanta, GA (February 2013). Transcript reprinted in 29 Emory Bankruptcy Developments Journal 333 (2013)
  • Annual Conference of the United States District and Bankruptcy Courts for the Eastern District of California, “Chapter 9, an Overview and Key Differences from Chapter 11” Napa, CA (November 2012)
  • American College of Bankruptcy, “Municipal and Governmental Insolvency: A View from the Trenches,” San Diego, CA (October 2012)
  • Lowell Milken Institute for Business Law and Policy at UCLA School of Law, “Municipal Bankruptcy in the 21st Century,” Los Angeles, CA (October 2012)
  • Washington Society of Municipal and Public Utilities District Attorneys, “Municipal Bankruptcy: Nuts and Bolts,” Seattle, WA (June 2012)
  • Banking and Financial Services Committee of the International Institute for Conflict Prevention and Resolution, “The Use of ADR in Municipal Bankruptcy,” Webinar, (May 2012)
  • Federal Bar Association, “What Civil Practitioners Should Know About Bankruptcy and the Stay,” Sacramento, CA (April 2012)
  • 2012 District of Arizona Annual Conference, “Chapter 9 Filings – Expectations and Experiences,” Phoenix, AZ (March 2012)
  • Bond Buyer webinar, “Navigating the Municipal Bankruptcy Minefield,” (March 2012)
  • National Association of Bond Lawyers, 10th Annual Tax & Securities Law Institute, “Unraveling the Mysteries of Chapter 9: The Impact of Bankruptcy on the Enforceability of Bondholder Rights and Remedies,” Savannah, GA (March 2012)
  • California Society of Municipal Finance Officers, 52nd Annual CSFMO Conference, “Avoiding Insolvency and Understanding the Tools of Last Resort: An Update on AB 506 and Chapter 9 Bankruptcy for Public Agencies,” Anaheim, CA (March 2012)
  • Bar Association of San Francisco, Commercial and Bankruptcy Section, “Talking Chapter 9 – Municipal Bankruptcy Cases,” San Francisco, CA (February 2012)
  • Bay Area Bankruptcy Forum, “Bankruptcy Ethics: Conventional Caveats, Peculiar Puzzlers,” San Francisco, CA (December 2011)
  • 85th Annual National Conference of Bankruptcy Judges, “Burgs, Bonds and Ballots: Municipality Workouts and Bankruptcy,” Tampa, FL (October 2011)
  • Federal Judicial Center Workshop for Bankruptcy Judges II, “Chapter 9 Update/Discussion,” Portland, OR (August 2011)
  • Turnaround Management Association, 3rd Annual TMA Western Regional Conference, “Local Governments in Financial Distress – Workouts, Chapter 9 and Other Responses,” Santa Barbara, CA (July 2011)
  • Houlihan Lokey and Alvarez & Marsal, “Restructuring the Troubled Municipality: A Case Study,” Beverly Hills, CA (June 2011)
  • Milken Institute Global Conference, “Muni Finance,” Beverly Hills, CA (May 2011)
  • National Federation of Municipal Analysts, 28th Annual Conference, “Default and Bankruptcy in the New Political Landscape,” Charleston, SC (May 2011)
  • Federal Judicial Center Workshop for Bankruptcy Judges I, "Chapter 9 Update/Discussion," Charlotte, NC (March 2011)
  • American Bar Association Business Bankruptcy Committee Webinar, “The Coming Flood (?) of Municipal Insolvencies: All You Need to Know About Chapter 9 Whether You Represent Borrowers or Lenders” (March 2011)
  • 2011 Municipal Bond Buyers Conference, “Chapter 9 Bankruptcy Risk,” La Quinta, CA (February 2011)
  • American Bankruptcy Institute and the University of Texas School of Law Conference on Valuation, “Navigating Municipal Restructurings Roundtable: The New Frontier,” Las Vegas, NV (February 2011)
  • Sacramento County Bar Association Business Section and Bankruptcy and Commercial Law Section, “Bankruptcy Cases and Developments,” Sacramento, CA (February 2011)
Admitted In
  • California

Education
  • J.D., University of California, Davis School of Law, 1973
  • B.A., University of California, Los Angeles, 1970
Honors
  • Daily Journal's Top 25 Municipal Lawyers (2011, 2013)
  • Daily Journal's Top 100 California Lawyers (2009-2013)
  • California Lawyer Magazine, CLAY Award (California Lawyer Attorneys of the Year) (2013)
  • The American Lawyer's "Dealmakers of the Year" (2008)
  • Chambers USA Lawyer Rankings, Bankruptcy/ Restructuring – California and Nationwide
  • IFLR1000, Leading Lawyer, United States – Restructuring and Insolvency
  • Legal 500 US, Finance: Municipal Bankruptcy
  • Northern California Super Lawyers, Bankruptcy & Creditor/Debtor Rights
  • Editor-in-Chief, U.C. Davis Law Review
Clerkships
  • Chief Justice Donald R. Wright, California Supreme Court, 1973-74
  • Hon. William H. Orrick, Jr., United States District Court for the Northern District of California, 1974-75
Memberships
  • Conferee, National Bankruptcy Conference
  • Fellow and Secretary, American College of Bankruptcy
  • Past President, California Bankruptcy Forum
  • Past President, Sacramento Valley Bankruptcy Forum
  • State Bar of California
  • Former Member, Board of Directors, Crocker Art Museum

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