Pillsbury partner Leo Crowley, leader of the firm's Insolvency & Restructuring practice, is known as an accomplished counselor and advocate in high-profile engagements in insolvency, commercial litigation and health care.
A veteran of contested matters and adversary proceedings in federal and state courts, Leo is also skilled in structuring out-of-court workouts. He represented major creditor constituencies in some of the largest bankruptcies in the airline and financial services industries. He is especially well-known for his representation of corporate trustees in insolvency and litigation matters. Leo also represents health care clients in corporate matters, including Medicare reimbursement litigation, regulatory and compliance issues, and investigations.
Representative Experience
Representing a residential mortgage-backed securities trustee in litigation involving $900 million in disputed mortgage insurance claims.
Provided counsel to the unsecured creditors of a listed medical device company, and debtor’s counsel to a laboratory testing company, in two Bankruptcy District of Delaware Chapter 11 cases.
Advised senior steering committee representatives on a prenegotiated Chapter 11 of a NYSE-listed master limited partnership.
* Creditors' Rights Experience
* Intercreditor, priority, and subordination disputes
* Out-of-court restructurings
* Prenegotiated and prepackaged bankruptcies
* Representation of aircraft lessors in cases involving finance, operating, and tax benefit transfer leases
* Foreclosure and other litigation on behalf of mortgage lenders to hotels, resort developments, office buildings, an airline terminal and apartment buildings
* Defense of lender liability claims (including rico claims)
* Defense of the conduct of corporate trustees in claims arising under indentures, the federal and state securities laws, and common law
* Advice and representation in litigation, bankruptcy and workouts in connection with troubled and defaulted structured finance vehicles including enhanced equipment trust certificates (aircraft), RMBS, CMBS, time share loan securitizations, and tax lien securitizations
* Fraudulent conveyance litigation
* Representation of major creditor constituencies in the Delta Airlines, Washington Mutual Inc., American Home Mortgage, Capmark Financial, US Shipping Partners, U.S. Airways, Trans World Airlines (III), United Airlines, Federal-Mogul, Continental Airlines, Northwest Airlines, National Convenience Stores, and Braniff International Airlines bankruptcies. Such representations have entailed many contested matters and adversary proceedings including DIP financing, adequate protection, lift-stay, fraudulent transfer, lien avoidance, valuation, and Section 363 sales.
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Representation of U.S. clients in insolvency proceedings in Venezuela (Aeropostal), Brazil (OAS, Aralco) and Argentina (IMPSA).
* Recent Representative Creditors' Rights Cases
* Represented Official Committee of Unsecured Creditors in chapter 11 case of publicly traded medical device company (In re Baxano Surgical Inc.).
* Represented BNY Mellon as Trustee for public and private debt securities secured by 132 aircraft and related leases (In re Delta Airlines, Bankruptcy SDNY).
* Represented Airbus in comprehensive restructuring of lease, aircraft purchase, aircraft finance and secured financing arrangements(In re Northwest Airlines, Bankruptcy SDNY).
* Represented senior representatives on steering committee in prenegotiated chapter 11 of NYSE listed master limited partnership (In re US Shipping Partners, Bankruptcy SDNY).
* Defended Wells Fargo as indenture trustee for $850 million of debt securities in litigation testing whether proposed sale of U.S. operations was “all or substantially all” under debt indentures (Jean Coutu v. Wells Fargo Bank, SDNY).
* Represented laboratory testing company as chapter 11 debtor (In re Laboratory Partners Inc., Bankruptcy District of Delaware).
* Health Care Experience
* Medicare reimbursement case which invalidated the regulations governing sole community hospitals
* Successful challenge to method of Medicare reimbursement for physicians under the Teaching Amendment
* Internal investigations and defense of government investigations and administrative proceedings involving reimbursement, certificate of need and restricted fund issues
* Regulatory advice and representation in mergers, acquisitions and joint ventures, including formation of integrated delivery systems, industry roll ups, and for profit/not-for-profit joint ventures
* Medical staff credentialing and professional practice issues
* Hospital bankruptcy and workout matters
Illustrative Reported Cases
Commercial and Creditors' Rights
* In re Delta Air Lines Inc.2007 WL 2932774 (Bankr. S.D.N.Y. 2007)
* 370 B.R. 552 (Bankr. S.D.N.Y. 2007)
* In re Enron Creditors' Recovery, 2007 WL 2680427 (Bankr. S.D.N.Y. 2007)
* In re G-I Holdings Inc.
* 338 B.R. 232 (Bankr. D.N.J. 2006)
* 327 B.R. 730 (Bankr. D.N.J. 2005)
* Bank of New York v. River Terrace Associates, LLC, 23 A.D.3d 308, 804 N.Y.S.2d 728 (1st Dept. 2005)
* Bank of New York v. Janowick, 2005 WL 1907529 (W.D.Ky. 2005)
* Weinstein v. Islamic Republic of Iran, 299 F.Supp.2d 63 (E.D.N.Y. 2004)
* Four Times Square Assocs. v. Cigna Invs., 755 N.Y.S.2d 689 (1st Dept. 2003)
* Craig v. Bank of New York, 169 F. Supp. 2d 202 (U.S. District Court 2001), remanded, 2001 U.S. App. LEXIS 27400, December 26, 2001, aff'd, 2003 U.S. App. LEXIS 3990 (2nd Cir. 2003)
* Contichem LPG v. Parsons Shipping, 170 F. Supp. 2d 416 (S.D.N.Y. 2001)
* Eastern Air Lines Inc. v. Brown & Williamson Tobacco Corp. (In re Ionosphere Clubs Inc.), 262 B.R. 604 (Bankr. S.D.N.Y. 2001)
* Lee v. Bankers Trust Co., 166 F.3d 540 (2nd Cir. 1999)
* Eastern Airlines Inc. v. Host Marriot Corp., 1999 Bankr. LEXIS 1875 (Bankr. S.D.N.Y. 1999)
* Alas Int'l Ltd. v. Ramiz
* 263 A.D.2d 364 (1st Dept. 1999)
* 257 A.D.2d 408 (1st Dept. 1999)
* National Amusements Inc. v. South Bronx Dev. Corp., 253 A.D.2d 358 (1st Dept. 1998)
* 129 East 82nd St. Owners Corp. v. Board of Standards and Appeals of City of New York, 244 A.D.2d 213, 664 N.Y.S.2d 922 (1st Dept. 1997)
* Matter of Liquidation of Union Indem. Ins. Co. of New York
* 89 N.Y.2d 94, 674 N.E.2d 313, 651 N.Y.S.2d 383, N.Y. (1996)
* 200 A.D.2d 99, 611 N.Y.S.2d 506 (1st Dept. 1994)
* Bank America Int'l v. Bank of Credit & Commerce Int'l S.A., 1995 U.S. Dist. LEXIS 1749 (S.D.N.Y. 1995)
* Kikis v. McRoberts Corp., 225 A.D.2d 455, 639 N.Y.S.2d 346 (1st Dept., 1996)
* Braniff Int'l Airlines v. Aeron Aviation Resources Holding II (In re Braniff Int'l Airlines), 159 B.R. 117 (E.D.N.Y. 1993)
* Avila v. Bank of Am. Nat'l Trust & Sav. Assn'n, 826 F. Supp. 92 (S.D.N.Y. 1993)
* In re Continental Airlines, 146 B.R. 536 (Bankr. D. Del. 1992)
* American Express Bank Ltd. v. Uniroyal Inc., 164 A.D.2d 275 (1st Dept. 1990)
* In re Ritz-Carlton of D.C., 98 B.R. 170 (Bankr. S.D.N.Y. 1989)
* Health Care
* S. ex rel. Branigan v. Bassett Healthcare Network, 234 F.R.D. 41 (N.D.N.Y. 2005)
* Mary Imogene Bassett Hospital v. Blue Cross/Blue Shield, 1998-2 CCH Medicare and Medicaid Guide 80,001 (P.R.R.B. 1998)
* Mary Imogene Bassett Hospital v. Sullivan, 136 F.R.D. 42 (N.D.N.Y. 1991)
* Mary Imogene Bassett Hospital v. Empire Blue Cross/Blue Shield, 1990 CCH Medicare and Medicaid Guide 38,523 (P.R.R.B. 1990), and 38,596 (HCFA Adm. Dec. 1990)
* Goyzueta v. Columbia University and St. Luke's Roosevelt Hospital, 146 A.D.2d 973 (1st Dept. 1989)
Professional Highlights
Recognized by Chambers USA in Bankruptcy/Restructuring and The Legal 500 U.S. in Insolvency & Restructuring.
Co-led the Pillsbury team that was honored for its role in the Chapter 11 restructuring of Binder & Binder by M&A Advisor as the 2016 "Financials Deal of the Year.
Member of Pillsbury’s team that won Latin Lawyer’s 2015 “Restructuring Deal of th
