Michael Shepherd | White & Case LLP International Law Firm, Global Law Practice

Michael Shepherd

Partner, Miami, New York

T +1 305 925 4790

T +1 212 819 8709

E [email protected]

Michael Shepherd’s practice is focused on business reorganization and restructuring matters, including the representation of debtors in possession, creditors committees, equity security holders and institutional creditors.

Overview

Michael Shepherd focuses on complex business restructuring and reorganization matters.

He offers clients the benefit of his significant experience in this field, representing institutional creditors and bondholders, as well as strategic investors and acquirers of distressed assets. Tenacious in his defense of his clients' interests, Michael has also developed a strong track record of representing troubled companies as debtors in possession.

Combining broad sector knowledge with a deep understanding of insolvency matters, Michael is an essential asset for clients faced with the most challenging of bankruptcy proceedings. He demonstrated these talents while acting as counsel to the Ad Hoc Group of Lenders to Hercules Offshore, Inc., in their successful defense of the debtors' lender-devised chapter 11 plan, and Centaur Gaming and its affiliates, in their successful chapter 11 reorganization. Michael's skill at guiding clients through the legal intricacies of multijurisdictional deals was also showcased during his representation of Daimler AG and its subsidiaries in connection with the global restructuring of Takata Corporation, of Global Safety Textiles in its complex cross-border restructuring, and of BTA Bank in its chapter 15 proceeding.

Michael's creative, cutting edge approach to reorganization and restructuring matters is based both on his significant track record at White & Case, as well as the valuable legal experience he gained before joining the Firm. This includes his service as law clerk for the Honorable S. Martin Teel, Jr., of the United States Bankruptcy Court for the District of Columbia, and for the Honorable William F. Stone, Jr., of the United States Bankruptcy Court for the Western District of Virginia.

Bars and Courts

  • New York State Bar
  • Florida State Bar
  • Virginia State Bar
  • US District Court for the Eastern District of Virginia
  • US Bankruptcy Court for the Western District of Virginia
  • US Court of Appeals for the Fourth Circuit

Education

  • JD, Washington and Lee University School of Law

Languages

  • English

Experience

Daimler AG, 2017

Representation of automobile manufacturer Daimler AG and its subsidiaries in connection with the global restructuring of Takata Corporation and its subsidiaries, component part suppliers responsible for the largest-ever consumer products recall.  White & Case has assisted Daimler AG and its subsidiaries in navigating the complex issues arising out of insolvency proceedings in the U.S. and Japan and coordinated out of court restructurings in Europe and elsewhere.

Morgan Stanley, 2017

Representation of Morgan Stanley as lead arranger in connection with the bankruptcy exit financing for the Homer City coal-fired power project in Pennsylvania.

Ad Hoc Group of Lenders to Hercules Offshore, 2016

Representation of the Ad Hoc Group of Lenders to Hercules Offshore in connection with plan mediation and a contested confirmation that included claims ranging from lender liability to equitable subordination and disallowance.  After five days of trial, all objections based on the conduct of the White & Case's lender clients were overruled, and the lender-supported plan was confirmed.

Ad Hoc Group of TCEH Unsecured Noteholders, 2015

Representation of the Ad Hoc Group of TCEH Unsecured Noteholders, comprised of holders of approximately US$2.7 billion of unsecured notes issued by Texas Competitive Electric Holdings Company, LLC, in the chapter 11 cases of Energy Future Holdings Corp. and its subsidiaries, where the White & Case team successfully defeated a prepetition restructuring support agreement and designed an alternative plan of reorganization that garnered the support of nearly all stakeholders, and was confirmed.

Faculty and Staff of Sweet Briar College, 2015

Representation of approximately 200 faculty and staff of Sweet Briar College, a historic women's college in Virginia, when its board unexpectedly announced its closure in March 2015. The timing meant that few faculty could find equivalent positions, deeply impacting their livelihoods. Working with other involved groups, White & Case secured a settlement, keeping the college open for at least another year and offering severance to faculty and staff forced to leave.

BTA Bank, 2012

Representation of BTA Bank in the restructuring of US$11.1 billion of financial indebtedness. The restructuring involved the cancellation of bonds previously issued in connection with BTA's last restructuring, in consideration of which creditors where paid US$1.6 billion in cash and issued US$750 million new notes and shares and GDRs of BTA Bank.

Centaur Gaming, 2010

Representation of Centaur Gaming and its affiliates, developers and operators of horse racing and gaming properties, in their successful chapter 11 restructuring of approximately US$1 billion of prepetition secured debt. During the highly-contentious restructuring, White & Case assisted Centaur Gaming in devising an emergence capital structure that satisfied the requirements of two of the most rigorous gaming and racing-related regulatory regimes in the U.S.  In addition, White & Case advised Centaur Gaming with respect to the consensual resolution of significant intercreditor disputes and the disposition of certain non-core gaming operations and racing-related development opportunities.

Global Safety Textiles, 2009

Representation of Global Safety Textiles and its subsidiaries, tier two automotive suppliers, in a cross-border restructuring of approximately US$285 million of prepetition secured and unsecured debt. Using the tools available under chapter 11, including the imposition of injunctive relief against certain multinational banks and funds, White & Case was able to restructure the funded debt obligations of Global Safety Textiles' U.S. and overseas subsidiaries, thereby ensuring the uninterrupted supply or airbag and technical fabrics required by Global Safety Textiles tier one customers.

Speaking Engagements

"Priorities in Future Insolvency Claims", May 21, 2013: INSOL 2013 Quadrennial Conference, The Hague, Netherlands

Publications

  • Bloomberg Law on Bankruptcy, 2014, forthcoming, (contributing author)