FacultyFaculty/Author Profile
Martin J. Bienenstock

Martin J. Bienenstock

Proskauer Rose LLP

New York, NY, USA


Martin Bienenstock is chair of the Firm's Business Solutions, Governance, Restructuring & Bankruptcy Group. Martin provides clients with multidisciplinary solutions that draw on his combined experience in restructuring, corporate governance, reorganization, litigation, Dodd-Frank and Sarbanes-Oxley. Martin’s restructuring practice focuses on restructuring troubled situations including Puerto Rico to benefit all their stakeholders including their people, investors and creditors. Martin’s governance practice is targeted at keeping healthy companies healthy and growing, and saving distressed companies, while protecting directors and officers with cutting edge best practices.

Martin is repeatedly retained to solve momentous problems. Currently, Martin leads the Firm’s representation of the Financial Oversight and Management Board for Puerto Rico, charged with restoring fiscal responsibility and market access to the Commonwealth by developing fiscal reforms and restructuring its $74 billion of bond debt and $50 billion of unfunded pension obligations. Martin also leads the Firm’s representations of the Westinghouse creditors’ committee and the Caesars Entertainment creditors’ committee for unsecured claimholders. In the Caesars cases, the creditors Martin represents were offered four cents at the outset and are settling for approximately 65 cents. General Motors retained him to formulate the section 363 strategy that he presented to the U.S. Auto Task Force, which deployed it to save General Motors and Chrysler. He represented Enron in its chapter 11 case that has now paid multiple creditors in full. Recently, Martin developed the Colombian-U.S.-Canadian reorganization plan for Pacific Exploration, supported by its bank creditors and bond creditors. Martin routinely provides legal and strategic advice to directors, businesses, investors and creditors, advising on complex restructurings, acquisitions, trials and appeals. He handled the Owens Corning appeal, reversing substantive consolidation to increase the value of his bank clients' claims against Owens Corning from $600 million to more than $2.2 billion. He charted the takeover of troubled Finova for a joint venture between Berkshire Hathaway and Leucadia National Corp., and achieved the successful reorganizations of companies such as Enron and Republic Engineered Products over multiple objections. Martin developed successful reorganizations for Capmark and AMBAC. He also prepared the initial draft of what became Ireland’s reorganization statute.

For the last 10 years, the National Law Journal listed Martin as one of the "100 Most Influential Lawyers in America." He has been listed at the top of his field by other leading legal publications and organizations, including Turnarounds & WorkoutsThe International Who's Who of Business LawyersChambers, and Euromoney Legal Media Group's "The Best of the Best."

Martin also teaches corporate reorganization at Harvard Law School and University of Michigan Law School.

Representative Engagements

  • General Motors in the conception, formulation, and introduction to U.S. Auto Task Force of the section 363 sale strategy subsequently adopted by Chrysler and General Motors
  • NewPage Corp. as debtor's counsel
  • Capmark Financial as debtor’s counsel
  • AMBAC Financial Group as debtor’s counsel
  • Enron Corporation in its chapter 11 case
  • General Motors in the Delphi Corporation chapter 11 case and in creating the section 363 strategy it utilized to reorganize under chapter 11
  • The W.R. Grace ad hoc shareholders' committee
  • Republic Engineered Products in its chapter 11 case
  • Third lien bondholders in the Calpine Generating chapter 11 case
  • The statutory equityholders' committee in the United States Gypsum case
  • G-1 Holdings, Inc. in a mass tort asbestos case for one of the country's largest building materials companies
Martin J. Bienenstock is associated with the following items:
CHB Chapters  CHB Chapters Recent Developments Affecting Chapter 11 Cases - Bankruptcy & Reorganizations 2018: Current Developments, Wednesday, April 25, 2018
Web Segment  Web Segment Disclosure Statements and Plan Confirmation            - Bankruptcy & Reorganizations 2018: Current Developments, Thursday, April 26, 2018
Plan Formulation and Negotiation       - Bankruptcy & Reorganizations 2018: Current Developments, Thursday, April 26, 2018
MP3 Audio  MP3 Audio Disclosure Statements and Plan Confirmation            - Disclosure Statements and Plan Confirmation           , Thursday, April 26, 2018
Plan Formulation and Negotiation       - Plan Formulation and Negotiation      , Thursday, April 26, 2018
Transcripts  Transcripts Disclosure Statements and Plan Confirmation            - Disclosure Statements and Plan Confirmation           , Thursday, April 26, 2018
MP4 - Mobile Video Seg  MP4 - Mobile Video Seg Disclosure Statements and Plan Confirmation            - Disclosure Statements and Plan Confirmation           , Thursday, April 26, 2018
Plan Formulation and Negotiation       - Plan Formulation and Negotiation      , Thursday, April 26, 2018
On-Demand Web Programs  On-Demand Web Programs Bankruptcy & Reorganizations 2018: Current Developments, Thursday, May 03, 2018, New York, NY
Share
Email

  • FOLLOW PLI:
  • twitter
  • LinkedIn
  • YouTube
  • RSS

All Contents Copyright © 1996-2018 Practising Law Institute. Continuing Legal Education since 1933.

© 2018 PLI PRACTISING LAW INSTITUTE. All rights reserved. The PLI logo is a service mark of PLI.