The Bond Buyer Webinar: The Puerto Rico Debt Crisis – An Update

Webinaire | December.09.2015 | 12pm - 1pm (Eastern Standard Time)


The Commonwealth of Puerto Rico is experiencing the most drastic fiscal crisis in the Commonwealth’s history. Please join Orrick and The Bond Buyer for an informative webinar that will focus on the key bankruptcy and other financial issues that have come into play as the financial markets look to solve Puerto Rico’s debt crisis.

Topics to be addressed during this webinar include:

  • Possible Default & Restructuring Negotiations
  • Priority of Commonwealth Debt
  • Clawback Litigation Issues
  • Proposed Chapter 9 Amendment
  • Other Legislative Developments, Including Possible Appointment of Financial Control Board
  • Pension/OPEB Underfunding and Possibility of “Grand Bargain” Solution for Pension Reform

Featured Presenters:

Lorraine S. McGowen, Partner, Restructuring, Orrick
Marc A. Levinson, Partner, Restructuring, Orrick
Kevin Roche, Partner, Public Finance, Orrick



  • Transactions Sector
  • Finance Sector
  • Restructuration
  • Litiges en matière de faillite
  • Restructuration municipale et insolvabilité
  • Energy & Infrastructure
  • Fusions & Acquisitions
  • Financement structuré
  • Financement des prêts aux étudiants/pour des études supérieures
  • Automotive Technology & Mobility

Lorraine McGowen Partner Restructuration, Litiges en matière de faillite

New York Office

Lorraine McGowen is a leading restructuring partner with over 30 years of experience representing clients from the US and internationally with entrepreneurial enthusiasm and a true passion for innovation seeking to maximize recoveries or reduce liabilities.

Lorraine 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. She also regularly provides commercial law and bankruptcy advice in connection with securitization, M&A, energy & infrastructure and general corporate transactions.

Recent engagements include representing Toyota (one of the largest creditors with more than $7 billion in claims) in the highly complex global restructuring of Takata Corporation, one of the largest manufacturers and distributors of automotive safety systems, including airbags; representing financial institutions in connection with Puerto Rico’s $72 billion restructuring; and representing several PPA counterparties in the PG&E bankruptcy case.

Lorraine is a member of Orrick's Management Committee and recently completed two terms of service on the firm’s 11-member Board of Directors. She also currently co-leads Orrick's Automotive Technology & Mobility group and its global Diversity & Inclusion (D&I) Initiative.

As a leading D&I advocate, Lorraine creates programs for the legal profession and the community. 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. IFLR1000 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.

Among her community involvement, she serves on the Board of Directors for the Institute for Inclusion in the Legal Profession and on the Advisory Committees for Legal Outreach and the Vance Center for International Justice of the NYCBA. Lorraine also serves as a Vice President of the New York City Bar Association.



  • Transactions Sector
  • Finance Sector
  • Restructuration
  • Transactions immobilières dévalorisées

Marc Levinson Senior Counsel Restructuration, Transactions immobilières dévalorisées

San Francisco

Marc A. Levinson is a senior counsel in the Restructuring Group.

Marc's 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.



  • Transactions Sector
  • Finance Sector
  • Finances publiques
  • U.S. Infrastructure Investment and Jobs Act

Kevin Roche Partner Finances publiques, U.S. Infrastructure Investment and Jobs Act

New York Office

Kevin Roche, a partner in the New York office, is a member of the Public Finance Department. He has broad experience serving as bond counsel, disclosure counsel, underwriter’s counsel and borrower’s counsel across a wide range of public finance sectors.

Kevin’s experience includes various general obligation and revenue bond financings, including those relating to transportation, multi-family housing, higher education, public power, sewer and water, and hospitals.

He has extensive knowledge and experience with federal securities laws issues in public finance, including both initial and continuing disclosure issues, material events disclosure, public statements liability, public offerings and private placements and other matters.

Kevin is a frequent speaker at conferences, seminars and webinars given by trade and professional organizations within the public finance industry.

Prior to entering private practice, Kevin was an Assistant Corporation Counsel in the Municipal Finance Division of the New York City Law Department.