Bennett L. Spiegel

Bennett L. Spiegel

Partner
Los Angeles

Bennett Spiegel has advised debtors, creditors, creditors' committees, bondholders, trustees, and asset purchasers in complex restructurings and Chapter 11 bankruptcies for more than three decades.

Bennett represents the Royal Bank of Scotland, plc and certain of its affiliates in the Thornburg Mortgage Chapter 11 cases in Maryland. He recently concluded his representation of Dignity Health in the Adeptus Chapter 11 cases in Texas. In addition, Bennett represented Los Angeles-based Relativity Media and its affiliates in its television business Section 363 sale and confirmation of its Chapter 11 reorganization plan around its film business in New York, reducing debt by more than US$600 million.

Before joining Hogan Lovells, Bennett had successes that included plan confirmation in MF Global for US$1 billion+ creditor proponents and dismissal of claims seeking US$4.3 billion from Adelphia non-agent secured lenders. Bennett also successfully handled the summary judgment for Greenwich Capital against ABFS trustee seeking US$100+ million, obtained a settlement valued at approximately US$40 million from the lender for Axium trustee, and managed East West Bank's appeal reversing Ravello Landing's plan confirmation order and defeating confirmation on remand.

Bennett's Chapter 11 debtor representations included the US$385 million sale of Leiner Health Products; Calpine's disposition of US$1+ billion in power plants; developing a reorganization plan for W.R. Grace; selling Cable & Wireless USA for multiples of the stalking-horse bid; and the confirmed reorganization plan for actress Zsa Zsa Gabor.

His prior Chapter 11 creditor representations include advising Greenwich Capital in its US$500, US$215, and US$100 million DIP financings of ABFS, Oakwood Homes, and New Century Financial; lead trial counsel for the creditors' committee plan proponent in the US$600 million Reed Slatkin Ponzi scheme case; asset purchaser Morgan Creek; and Mötley Crüe in the bankruptcy of its lead singer.

Awards and recognitions

2011-2019

Bankruptcy/Restructuring (California)
Chambers USA

2005-2018

Bankruptcy: Business
Southern California Super Lawyers

Education and admissions

Education

J.D., Yale Law School, 1984

M.B.A., Yale School of Management, 1983

B.A., Rutgers, The State University of New Jersey, Rutgers College, with highest honors, 1980

Memberships

American Bankruptcy Institute

Los Angeles Bankruptcy Forum

Financial Lawyers Conference

The Bankruptcy Strategist, Editorial Board

Bar admissions and qualifications

California

Connecticut

District of Columbia

New York

New Jersey

Related industries

Financial Institutions

Representative experience

Represented Relativity Media, LLC and many of its affiliates through a Chapter 11 proceeding in bankruptcy and confirmed its plan of reorganization.*

Represented an ad hoc group of financial institutions holding more than US$1.6bn in claims in the Chapter 11 bankruptcy cases of MF Global Holdings Ltd. and its related debtors.*

Negotiated and documented the out-of-court restructuring of obligations for an acute care hospital, reducing its projected debts by over US$155m and avoiding a Chapter 11 filing.*

Obtained the dismissal of 22 out of 31 claims for The Royal Bank of Scotland Plc filed by the Chapter 11 Trustee in the Chapter 11 case of Thornburg Mortgage, Inc.*

Represented Sprint Nextel Corporation with respect to the out-of-court restructuring and equity raise of Clearwire Corp. and Clearwire LLC.*

Represented East West Bank, one of the largest independent commercial banks in California, in its successful appeal of Ravello Landing's confirmation order.*

Represented a Starwood Capital-led consortium in restructuring over US$300m of debt related to the recapitalization of Terranea Resort in California.*

Represented Daughters of Charity Hospital System in its efforts to acquire Downey Regional Medical Center, a Chapter 11 debtor, through a plan of reorganization.*

Represented approximately 400 lending institutions (Non-Agent Lenders) in the Adelphia Communications bankruptcy case.*

Represented the Chapter 11 debtor in the US$385m sale of Leiner Health Products.*

Represented the Chapter 11 debtor in Calpine's disposition of US$1bn+ in power plants.*

Represented the Chapter 11 debtor in developing a reorganization plan for W.R. Grace.*

Represented the Chapter 11 debtor in selling Cable & Wireless USA for multiples of the stalking-horse bid.*

Represented the Chapter 11 debtor in confirmed reorganization plan for actress Zsa Zsa Gabor.*

Advised Greenwich Capital in its US$500m, US$215m, and US$100m DIP financings of ABFS, Oakwood Homes, and New Century Financial.*

Acted as lead trial counsel for the creditors' committee plan proponent in the US$600m Reed Slatkin Ponzi scheme case.*

Represented asset purchaser Morgan Creek.*

Represented the Mötley Crüe band and its members as creditors in the bankruptcy of its lead singer.*

*Matter handled prior to joining Hogan Lovells.

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