Clark T. Whitmore
Partner
Overview
Clark Whitmore's practice focuses on the representation of corporate trustees in capacities related to TIA-qualified senior and subordinated corporate debt issuances, collateralized debt obligations, revenue bonds and certificates of participation on tax exempt public finance projects, and various asset-backed structured financings. His practice includes counseling corporate trustees with respect to the administration of their duties at every stage, including post-Event of Default "prudent person" duties in Chapter 11 and Chapter 9 insolvency proceedings. Together with Maslon's litigation team, he counsels corporate trustees regarding claims and litigation brought by or against them in their trustee capacities. His practice includes steps to modify, terminate, and seek judicial instructions relating to the administration of corporate trusts.
Experience
- In re: Archdiocese of Saint Paul and Minneapolis (Bankr. D. Minn. 2015). Assisted with the representation of the Committee of Parish Creditors, comprised of over 100 parishes facing hundreds of clergy abuse claims, in the Archdiocese Chapter 11 reorganization. Obtained tens of millions of dollars in insurance coverage settlements under missing insurance policies, which settlements were part of the $210 million settlement of Archdiocese and Parish clergy abuse claims, and represented the largest settlement by a diocese in bankruptcy to date in the United States.
- Trustee counsel for $8.3 billion of bonds issued by Puerto Rico Electric Power Authority.
- Indenture trustee counsel in Chapter 11 for $170 million of senior notes Doral Financial Corporation.
- Indenture trustee counsel for $400 million of senior unsecured creditors in the Chapter 11 proceedings of Kaiser Aluminum and Chemical Corporation and affiliates.
- Co-counsel to regional bank defrauded in $22 million check-kiting scheme.
- Lender counsel in numerous Minnesota commercial real estate defaults, including office buildings, hotels and motels.
- Indenture trustee counsel for defaulted municipal bonds in various states secured by parking ramps, production facilities, affordable housing projects, prisons, aquariums, youth detention facilities, and other projects.
- Equipment finance company counsel in numerous commercial bankruptcies involving executory contracts, software licensing finance, and aircraft leases.
- Representation of lenders as preference and fraudulent conveyance defendants in bankruptcy litigation.
- Debtor's counsel in $45 million debt restructuring following default and workout negotiations with syndicated loan.
- Chapter 11 indenture trustee counsel for other TIA note issuances including:
- American Business Financial Services, Inc.
- Atlas Air, Inc.
- Bally Total Fitness Corporation
- Cooper Automotive
- Delta Air Lines, Inc.
- Dodger Tickets LLC
- Doral Financial Corporation
- Eagle Food Centers, Inc.
- Evergreen Solar, Inc.
- Fedders North American, Inc.
- Gentek, Inc.
- Interstate Bakeries Corporation
- IWO Holdings, Inc.
- J.L. French Automotive Castings, Inc.
- Metromedia Fiber Network, Inc.
- Minnesota Union Builders Project
- Momentive Performance Materials, Inc.
- NEON Optica, Inc.
- Newcor, Inc.
- Old UGC, Inc.
- Partners Mortgage Corporation
- Premier Entertainment Biloxi LLC
- Primus Telecommunications
- Reptron Electronics, Inc.
- Savient
- Spectrum Brands
- TransTexas Gas Corporation
- Trenwick Group, Ltd.
- Tri-Union Development Corporation
- United GlobalCom
Honors
Selected for inclusion in The Best Lawyers in America®, 2024-2025
Recognized as a Top Lawyer, Minnesota Monthly, 2024 (The research for the Top Lawyers list, created by Professional Research Services, is based on an online peer-review survey sent to all attorneys in Minnesota.)
Recognized on Minnesota Super Lawyers® list, 1999-2000, 2003-2008, 2011-2021 (Minnesota Super Lawyers® is a designation given to only 5 percent of Minnesota attorneys each year, based on a selection process that includes the recommendation of peers in the legal profession.)
AV Preeminent, Martindale-Hubbell®