Peter Ivanick

While known for his bankruptcy litigation expertise, Peter's forte is resolving large, complicated matters through negotiation and mediation. In a long-running case that combined his Chapter 11, out-of-court restructuring, and insurance insolvency know-how, Peter confirmed a very successful Chapter 11 plan for Ambac Financial Group, parent of the second-largest financial guarantor insurer, Ambac Assurance Corporation. He mediated and resolved a US$800 million IRS claim and significant issues between Ambac Financial and Ambac Assurance, including competing claims to the ownership of more than US$5 billion in net operating losses.

Prior to filing Ambac Financial's Chapter 11 case, Peter represented Ambac Assurance in the ground-breaking rehabilitation of a segregated account created to isolate Ambac Assurance's guarantees of residential mortgage-backed securities. As a condition to Ambac Assurance's segregated account rehabilitation, Peter negotiated the commutation of billions of dollars of Ambac Assurance's credit default swap exposure with a 12-member bank group.

Peter also represents petitioners and other interested parties in connection with English law schemes and foreign insurance insolvencies as they make their way through the bankruptcy court under Chapter 15. He frequently lectures on bankruptcy and insurance insolvency issues and is frequently listed in Euromoney's Guides to Leading World and U.S. Insolvency Lawyers and other expert guides.