Treatment of Secured Claims in Insolvency and Pre‑Insolvency Proceedings (Third Edition)

1 minute read | April.01.2026

INSOL International has released the Third Edition of Treatment of Secured Claims in Insolvency and Pre‑Insolvency Proceedings, one of its most popular guides for insolvency and restructuring professionals worldwide.

The publication of the Third Edition was led by Orrick Restructuring partner Evan C. Hollander, who served as project manager and lead author of the U.S. chapter. Evan also led the team on the second edition of the guide (2020) and contributed to the first edition (2007), underscoring Orrick’s longstanding engagement with INSOL International on complex, cross‑border insolvency issues. INSOL International formally acknowledged Evan’s leadership and guidance in delivering a publication of “exceptional quality and value” to its global membership.

The latest edition significantly expands on the issues addressed in the guide and now spans more than 550 pages, covering 29 jurisdictions across the globe. The publication reflects the evolving complexity of secured lending and enforcement across restructuring, insolvency, and pre‑insolvency regimes.

Evan was assisted by Orrick colleagues Daniel Rubens, Meredith Dawson, Nick Sabatino, Michael Trentin, and Lenni Elias.

INSOL International is a worldwide federation of national associations of accountants and lawyers who specialize in turnaround and insolvency.

Author

Evan C. Hollander Partner, Restructuring, Contenzioso fallimentare

New York

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D:+1 212 506 5145
E: [email protected]

Practice:

Restructuring
Contenzioso fallimentare
Banking & Finance

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Evan C. Hollander Partner

New York

Mr. Hollander has represented key parties in restructuring matters involving a wide range of sectors—including offshore drilling, aerospace, automotive, sovereign wealth, manufacturing, retail, and telecommunications. He frequently writes on insolvency related topics and routinely appears on panels at industry conferences.

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Daniel A. Rubens Partner, Supreme Court & Appellate

New York

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D:+1 212 506 3679
E: [email protected]

Practice:

Supreme Court & Appellate

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Daniel A. Rubens Partner

New York

Danny's practice focuses on appellate litigation. He has led the drafting on dozens of appellate briefs, and regularly argues appeals in state and federal courts. Danny has extensive trial litigation experience as well, with an emphasis on dispositive motions, preserving appellate issues, and developing creative legal strategies.

Danny’s work has covered a wide range of subject areas, including securities, bankruptcy, intellectual property, arbitration, class actions, and criminal law. He has a deep understanding of appeals and critical motions in financial services litigation, and in recent years has played a key role in representing financial institutions in major RMBS cases brought by trustees, investors, and monoline insurers. His financial services clients include Credit Suisse, Goldman Sachs, Mr. Cooper, and Ocwen. He also represents leading technology companies in precedent-setting cases involving antitrust law and ballot initiatives, as well as other complex commercial litigation. In addition, Danny is an experienced bankruptcy litigator, having represented various debtors and creditors in fraudulent transfer cases and other contested insolvency-related matters involving U.S. and foreign law.

Danny is a member of the Second Circuit's pro bono panel and maintains an active pro bono practice focusing on criminal, immigration, racial justice, and LGBTQ+ rights matters in the Supreme Court and other appellate courts. He was recently recognized by the National LGBTQ+ Bar Association as a “Best LGBTQ+ Lawyer Under 40,” by the New York Law Journal as a Rising Star, and by LawDragon in its inaugural 500 X – The Next Generation listing. As part of his commitment to diversity, equity, and inclusion, Danny serves as a mentor for The Appellate Project, an organization focused on empowering law students of color to thrive in the appellate field. He has also served as an Orrick ambassador for the Move The Needle Fund, a collaborative effort designed by Diversity Lab to create a more diverse and inclusive legal profession.

Before joining Orrick, Danny served as a law clerk to U.S. Supreme Court Justice Ruth Bader Ginsburg, Judge Robert A. Katzmann of the U.S. Court of Appeals for the Second Circuit, and Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York. Following his clerkships, he was selected to represent the American Inns of Court as a Temple Bar Scholar in London.

Meredith Dawson Partner, Banking & Finance, Private Credit

New York

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D:+1 212 506 5001
E: [email protected]

Practice:

Finance Sector
Banking & Finance
Private Credit
Finance

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Meredith Dawson Partner

New York

Meredith joined the firm as a summer associate in the New York office in 2016. Through years of hands-on experience and collaborative client relationships, she has developed a multifaceted understanding of financing structures in credit and lending. Meredith’s transactional experience includes acquisition and leveraged finance facilities; direct lending transactions; first lien, second lien and first-out/last-out unitranche facilities; recurring revenue loans; and asset-based and other specialty financings across a variety of industries.

Nick Sabatino Senior Associate, Restructuring, Contenzioso fallimentare

Sacramento

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D:+1 916 329 7962
E: [email protected]

Practice:

Finance Sector
Restructuring
Contenzioso fallimentare

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Nick Sabatino Senior Associate

Sacramento

Nick represents a diverse range of stakeholders throughout the capital structure in complex restructuring scenarios. His practice encompasses representing institutional creditors, financial institutions, funds, direct lenders, and strategic investors in bankruptcy proceedings, out-of-court workouts, and distressed asset acquisitions. He has significant experience with debtor-in-possession financing, pre-packaged Chapter 11 proceedings, Section 363 sales, and contested bankruptcy litigation matters.

Nick has developed particular expertise in distressed M&A transactions across multiple industries, including energy and infrastructure, life sciences, cryptocurrency, and retail sectors. He regularly works with clients to structure and execute credit-bid acquisitions, private sales, and strategic investments in distressed companies. His cross-practice approach allows him to collaborate effectively with Orrick’s M&A, Banking & Finance, and Energy & Infrastructure teams to deliver comprehensive solutions to complex distressed situations.

Beyond traditional restructuring work, Nick’s experience extends to non-distressed transactions, including real estate purchases and syndicated loan refinancing. He brings a strategic and detail-oriented approach to each matter, working collaboratively with clients to navigate challenging financial circumstances and achieve business objectives.

Michael Trentin Senior Associate, Restructuring, Contenzioso fallimentare

New York

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D:+1 212 506 5393
E: [email protected]

Practice:

Restructuring
Contenzioso fallimentare

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Michael Trentin Senior Associate

New York

Michael has been recognized as a Rising Star in Bankruptcy by Super Lawyers since 2021. His practice spans a broad range of roles, serving stakeholders across a company's capital structure, including lenders, creditors committees, debtors and asset purchasers. Beyond his core restructuring practice, Michael is an avid litigator. He regularly represents clients in contentious matters within bankruptcy courts, as well as in chancery and federal district courts.

Before entering private practice, Michael served as law clerk in the United States Bankruptcy Court for the District of New Jersey.

Related Areas

Restructuring