FacultyFaculty/Author Profile

Mark A. McDermott

Skadden, Arps, Slate, Meagher & Flom LLP
Partner
Chicago, IL, USA


Mark McDermott represents public and private businesses and their principal stakeholders in troubled company M&A, restructuring and financing transactions. He also advises businesses and investment vehicles in non-distressed transactions, including M&A and structured finance transactions. He counsels clients on the bankruptcy aspects of derivatives and similar structured products, advises officers and directors on matters related to corporate governance and fiduciary duties, and has extensive experience in the financial services and real estate sectors.

Representative matters include the pre-arranged Chapter 11 restructuring of Jackson Hewitt Tax Service Inc. that also discharged pre-petition class action litigation while limiting the company’s stay in bankruptcy to two months; the pre-packaged Chapter 11 restructuring of Vertis Communications, Inc., one of the few such restructurings that incorporated a rights offering; the pre-arranged Chapter 11 restructuring of Spectrum Brands, Inc. in one of the only cases involving litigation over reinstatement of pre-petition debt; and the pre-packaged Chapter 11 restructuring of Blue Bird Bus Company, the fastest reorganization case ever (32 hours).

Mr. McDermott represents numerous derivatives and other counterparties in the Lehman bankruptcy, and has assisted in the representations of certain of the largest parties involved in the Madoff bankruptcy. He was a member of the restructuring teams that represented Refco, Inc. in one of the largest broker liquidations ever; Centro Properties in its cross-border, out-of-court restructuring; Kmart Corporation, in one of the largest retail business reorganizations in history; RCN Communications in connection with its partial in-court/out-of-court restructuring; and Goldman Sachs as agent in the Movie Gallery Chapter 11 reorganization.

In addition to representing troubled companies, Mr. McDermott represents acquirers of troubled company assets and investors in troubled company restructurings. His experience spans several industries in addition to financial services and real estate, including energy, entertainment, health care, home building, manufacturing, printing, retail, technology and transportation. He has worked on numerous matters that have received industry awards, has authored several articles on insolvency-related matters and has been recognized in several publications for excellence in the restructuring industry. 

Bar Admissions
 New York
 Illinois
 Iowa

Education
 J.D., Northwestern University School of Law, 1991 (cum laude)  
 B.S., Iowa State University, 1988 (Phi Beta Kappa
 

Professional Experience
Law Clerk, Hon. Arthur A. McGiverin, Chief Justice of the Iowa Supreme Court (1991-1992)  

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