Lorraine McGowen is a lead restructuring partner with over 30 years of experience joining clients on the front lines of their
recovery crisis and investment strategies with entrepreneurial enthusiasm and a
true passion for innovation.
For more than 30 years, Lorraine has assessed our clients'
challenges and chances for recovery in the most difficult situations. She
sees through the morass of legal and financial distress to discover the best
strategies for returns and growth.
Lorraine advises financial institutions, syndicated lender
groups, creditor committees and other parties from the U.S., Europe, Asia
and Africa who seek to maximize recovery or reduce exposure. She also advises
investors and acquirers of companies. She interfaces with auditors,
government regulators, investment bankers and others, and develops and
implements mediation and litigation strategies, and negotiates reorganization
plans and complex corporate and finance documents.
Success in her work requires innovation. Lorraine's
mission is to find the best possible path to recover or grow her client's
investments. She continually seeks new and better solutions; carefully
listens, analyzes and looks forward. She strives to be there for her
clients throughout the process – and to see into the future – finding the very
best path for them. Lorraine is described by colleagues, clients and
others as “tireless,” “driven, determined, dedicated and devoted” and “a
multi-faceted, multi-dimensional, multi-successful person on so many levels.”
Lorraine recently was the lead bankruptcy attorney
representing Toyota in the highly complex global restructuring of Takata
Corporation, one of the world’s largest manufacturers and distributors of
automotive safety systems, including airbags. Takata’s restructuring, which
included the sale of substantially all of its assets other than its inflator
business, was implemented through in-court bankruptcy proceedings in the
U.S. and Japan, and out-of-court in Europe, China, and other jurisdictions.
Toyota was one of the largest creditors, with claims against
Takata in excess of $7 billion. The transaction was awarded Restructuring of the Year (Over $5B) 2018 by The M&A Advisor and Cross Border Distressed M&A Deal of the Year (Mega: Above $1 billion USD) by Global M&A Network.
Other notable engagements include representing financial
institutions in connection with Puerto Rico’s $72 billion restructuring,
representing multinational bank syndicates in connection with toll road
restructurings, including the acquisition of a $6 billion toll road by an Australian
firm, representing financial institutions, municipalities and others in the
global Lehman insolvency proceedings, and representing a South African company
in the Tronox bankruptcy proceeding in connection with its $3.4 billion
acquisition of a mineral sands business.
Lorraine is a leading advocate for diversity and inclusion
(D&I) in the legal profession and creates programs for women, people
of color and LGBTQ attorneys. She is a mentor, sponsor and chair of Orrick’s
firm-wide, global D&I Initiatives. For Lorraine, and for Orrick,
D&I is not just the right thing to do. Providing our clients with diverse
teams is simply good business: diverse teams are more creative, collaborative
Lorraine recently completed two terms of service on the
firm’s 11-member Board of Directors and currently co-leads Orrick's Automotive
Technology & Mobility group. She previously chaired Orrick’s Restructuring
Group. She is on the Board of Directors of The New York Lawyers for the Public
Interest and of the Institute for Inclusion in the Legal Profession, the Board
of Legal Advisors for Legal Outreach in New York City, and the Advisory
Committee for the Vance Center for International Justice.
She was selected as a 2019 Rainmaker by the Minority Corporate Counsel Association (MCCA) and as one of Savoy Magazine
’s Most Influential Black Lawyers for 2018 and 2015,
and received Legal Outreach’s Pipeline to Diversity 2017 Champion Award and the
New York City Bar Association Diversity and Inclusion 2012 Champion Award. IFLR
1000 Rankings named Lorraine a leading lawyer in the U.S. She was selected by
Direct Women to be a 2016 Board Institute member. She is a frequent
speaker and author on bankruptcy and insolvency and diversity and inclusion.