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Peter Ivanick

New York

Peter Ivanick

Widely recognized for his knowledge of bankruptcy, restructuring, and insurance insolvency issues, Peter Ivanick has more than 30 years of experience representing debtors, lenders, committees, indenture trustees, trustees, and examiners in connection with restructurings in and out of Chapter 11 and in state court insurance rehabilitation and liquidation proceedings.

While he's 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.

"...someone who can read a situation really well and power through issues."

Chambers USA 2012

Representative Experience

Regularly acts for buyers of distressed insurance assets.

Counseled the Equity Holders Committee in the Columbia Gas case.

Represented ACA Financial Guaranty in the commutation of its credit default swap and related CDO exposures.

Debtor's counsel in the Palace Casino's Chapter 11 case.

Represented Ambac, FSA, and FGIC as reinsurance creditors in the BluePoint Re liquidation in Bermuda.

Creditor's Committee counsel and counsel to the Bermuda Committee of Inspection in the Manhattan Investment Fund cases.

Represented Assured Guaranty as reinsurance creditor in the rehabilitation of FGIC.

Representing hedge funds in connection with their exposure to Puerto Rico.

Counseled the largest long-term creditor in the Lehman Re case in Bermuda.

Education and admissions


  • J.D., Yale Law School, 1983
  • M.A., Princeton University, 1978
  • B.A., The George Washington University, 1975

Bar admissions and qualifications

  • New York

Court admissions

  • U.S. Court of Appeals, Second Circuit
  • U.S. Court of Appeals, Seventh Circuit
  • U.S. Court of Appeals, Third Circuit
  • U.S. District Court, Eastern District of New York
  • U.S. District Court, Northern District of New York
  • U.S. District Court, Southern District of New York

2011, 2012

Chambers USA, Bankruptcy/Restructuring


Guide to the World's Leading Insolvency Lawyers



Guide to the Leading U.S. Insolvency Lawyers


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