People

Benjamin W. Loveland

Counsel

Loveland, Benjamin W.

Benjamin Loveland's practice focuses on the representation of distressed debt investors in chapter 11 bankruptcy proceedings and other financial restructurings. He routinely represents indenture trustees, agents, noteholders, and lenders in large and complex bankruptcy cases and resulting litigation. Mr. Loveland also has deep experience assisting clients with pre-investment diligence and transaction structuring against the insolvency background, and has helped borrower clients with refinancing and restructuring transactions. Mr. Loveland rounds out his practice with extensive knowledge of cross-border insolvency matters, distressed sales, and issues involving the intersection of bankruptcy and intellectual property law.

Honors & Awards

  • Recognized as a "40 Under 40 Emerging Leader" by M&A Advisor in 2016
  • Named a "Massachusetts Super Lawyers Rising Star" for bankruptcy in the 2012-2017 issues of Boston Magazine
  • Selected as a participant in the National Conference of Bankruptcy Judges NextGen Program in 2013

Recent Highlights

Among other clients, Mr. Loveland has represented:

  • Wilmington Savings Fund Society, as indenture trustee for second lien notes in the chapter 11 case of Avaya, Inc.
  • GLAS USA, as administrative agent for a €600 million PIK loan, in connection with the involuntary chapter 11 proceeding of EB Holdings (Ecobat)
  • Wilmington Trust, as indenture trustee for the second lien notes, in the chapter 11 case of SunEdison, Inc., including in related avoidance litigation
  • The indenture trustee for, and a steering committee of holders of, bonds in the Energy XXI oil and gas chapter 11 case
  • Several funds and other financial creditors in connection with their acquisition of a majority interest in GT Advanced Technologies under its confirmed chapter 11 plan of reorganization
  • Lenders and bondholders in the chapter 11 case of Texas Competitive Electric Holdings (TCEH) and Energy Futures Holdings (EFH) and related litigation, including make-whole dispute and letter of credit payment priority litigation in the Delaware bankruptcy court and district court and in the Third Circuit Court of Appeals
  • Major bondholder in aspects of the American Airlines chapter 11 case, including chapter 11 plan negotiations and litigation surrounding aircraft sale transactions
  • Major technology company in its bid for the patent portfolio of Nortel Networks in its chapter 11 section 363 sale
  • Foreign financial institutions in defense of fraudulent transfer litigation brought by SIPA Trustee for Bernard L. Madoff Investment Securities LLC and BVI liquidators for the Fairfield Funds

Professional Activities

  • Co-Chair of Boston Bar Association Bankruptcy Section's Young Lawyers Committee (2010–2012)
  • Member (and former co-chair) of American Bankruptcy Institute Northeast Conference Emerging Insolvency Professionals Committee (2015 – present)
  • Member of American Bankruptcy Institute Northeast Conference Advisory Board (2015 – present)
  • Vice Chair of M. Ellen Carpenter Financial Literacy Program (2014–2016)
  • Board Member of Courageous Sailing for Youth, Inc.

Publications & News

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August 7, 2017

Time Is Money: Historical Strip Prices and Valuation in Oil & Gas Bankruptcies

Timing is key to valuation of all types and in all contexts. But in bankruptcy, valuation timing can take on heightened importance because a central element of bankruptcy involves distributing value as of a specific point in time.

May 5, 2017

Upside Down in Chapter 15

An article by George Shuster and Benjamin Loveland, published by the American Bankruptcy Institute Journal, delving into the question: Can US Entities Qualify as “Foreign” Debtors in the US?

May 2, 2017

Coming to America?—Applying Bankruptcy Code Section 109(a) to Vet Foreign Companies Filing US Bankruptcy Cases Under Chapter 15

Chapter 15 of the US Bankruptcy Code provides a doorway for non-US companies to obtain creditor protection and other benefits of a US bankruptcy in support of insolvency proceedings for those companies in their “home” jurisdictions. But how wide open is that doorway? Recent decisions interpreting section 109(a) of the US Bankruptcy Code in the chapter 15 context provide answers—but not necessarily consistent ones—to this question.

June 20, 2016

Benjamin Loveland Honored Among M&A Advisor's 40 Under 40

Loveland was named to the 7th Annual 40 Under 40 Emerging Leaders, a global recognition honoring leading dealmakers, legal advisors and others in the mergers and acquisitions, financing and turnaround markets.

May 9, 2016

Cross-Border, Cross-Debtor, Multi-Debtor Issues in Proceedings

In this article published in the American Bankruptcy Institute Journal, Vol. XXXV, No. 5, George Shuster and Benjamin Loveland explore cross-border cases, which can present complex problems between the debtor and its creditors, and the complexities in the relationships among international debtors from the same corporate family.

February 4, 2016

Energy Sector Alert Series: Risks and Opportunities in Distressed Oil and Gas

Recent volatility in the energy markets has put increasing stress on the capital structures of companies operating in those markets. When commodity prices were higher between 2010 and 2014, many of those companies took on significant amounts of debt to pursue new opportunities.

December 7, 2015

Will Chapter 15 be the ""Exclusive Destination" for Foreign Debtors?

In this article published in the American Bankruptcy Institute Journal, Vol. XXXIV, No. 12, George Shuster and Benjamin Loveland explore the US Bankruptcy Court for the District of Delaware's recent decision in Northshore Mainland Services Inc., et al.—regarding the Baha Mar resort in The Bahamas—which appears to take an additional step toward a regime in which, for at least some foreign debtors, chapter 15 cases may be not just an option, but the exclusive type of US bankruptcy protection available.

May 28, 2015

The First Circuit may 'Actually' be the Best Choice of Bankruptcy Venue for Intellectual Property Licensees

An article co-authored by Benjamin Loveland, published in MBA's Complex Commercial Litigation Section Newsletter and the Massachusetts Lawyers Journal.

October 7, 2014

A “Second Bite” from the Second Circuit: Revisiting Section 363 Review of Transfers in Chapter 15 Bankruptcy Cases

A WilmerHale Client Alert by George Shuster and Benjamin Loveland, which also appeared in Law360’s Bankruptcy and New York Guest Expert Analysis Column.

August 5, 2014

Can Chapter 15 be an Ally to Bondholders in Foreign Insolvency Cases?

An article written by George Shuster and Benjamin Loveland, published in the American Bankruptcy Institute Journal, Vol. XXXIII, No. 8, August 2014.

Practices

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Education

JD, magna cum laude, Suffolk University Law School, 2007, Staff Member, Suffolk Transnational Law Review

BA, Political Science, cum laude, Providence College, 2004

Bar Admissions

Massachusetts

Rhode Island

Clerkships

The Hon. Joel B. Rosenthal, US Bankruptcy Court for the District of Massachusetts, 2007 - 2008

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