In the News

Haynes and Boone in Law360: Shelbourne Hands Related Control of Chicago Spire Site

The Related Cos. LP has taken over the site of the stalled Chicago Spire project, after bankrupt real estate developer Shelbourne North Water Street LP handed over the deed rather than continuing what had been a lengthy court battle.

It was a relatively low-key conclusion to a long-running fight over what had been slated to be the tallest building in the Western Hemisphere, at 150 stories, but that never got past the digging of the foundation. >>



Recent Publications

Weathering the Storm: Momentive Performance Court Rejects Market-Based Cramdown Interest Rate, Casts Doubt on Make-Whole Claims

On August 26, 2014, Judge Robert D. Drain of the Bankruptcy Court for the Southern District of New York issued a bench ruling in In re MPM Silicones, LLC, Case No. 14-22503 (RDD), on several aspects of the plan of reorganization filed by debtor Momentive Performance Materials, Inc., a specialty chemicals manufacturing company, and its affiliated debtors. >>

Weathering the Storm: Seventh Circuit Expands Application of Federal Standard for Successor Liability to FLSA

On March 26, 2013, in the case of Teed v. Thomas & Betts Power Solutions, L.L.C., the Seventh Circuit, in an opinion written by Judge Posner, joined at least one other circuit court and a multitude of district courts across the country in extending the federal common law standard for evaluating successor liability to suits brought under the Federal Labor Standards Act (“FLSA”). >>



Trevor Hoffmann

Partner

New York


30 Rockefeller Plaza
26th Floor
New York, New York 10112
T +1 212.659.4993
F +1 212.918.9558

Areas of Practice

Education

  • LL.B., University of Toronto Faculty of Law, 1999
  • Bachelor of Commerce, University of Alberta, 1995

Bar Admissions

  • New York
  • Ontario, Canada

Court Admissions

  • U.S. District Court for the Southern District of New York
  • U.S. District Court for the Eastern District of New York
Trevor Hoffmann

Trevor Hoffmann is a partner in the New York office of the law firm of Haynes and Boone, LLP. He has extensive experience representing debtors and creditors, including lenders, landlords and lessors, acquirors, examiners and other parties in reorganization proceedings, financial restructurings and commercial litigation.

Trevor has been selected for inclusion in Super Lawyers’ New York Rising Stars Metro Edition for the last three years and was named as a New York Super Lawyer, 2013-2014.

Trevor's representative matters include:

  • Representation of an affiliate of The Related Companies as acquirer of luxury condominium project in the Chapter 11 case of FKF Madison Group Owner LLC pending in Wilmington, Delaware.
  • Representation of Midland Loan Services as special servicer on an $825 million senior secured loan collateralized by 45 hotels in the Innkeepers bankruptcy case pending in the Southern District of New York Bankruptcy Court.
  • Representation of second lien agent and certain second lien (junior) lenders in the FX Luxury Las Vegas I, LLC bankruptcy case in the Las Vegas, Nevada bankruptcy court. Successfully obtained ownership for the firm's clients of a seventeen-acre property located on the Las Vegas strip across from City Center.
  • Representation of The Bank of New York Mellon, as successor administrative and collateral agent for the first lien lenders holding $185 million of senior secured debt in the Wellman, Inc. Chapter 11 case.
  • Representation of NexBank, SSB, Highland Capital Management, L.P. and Highland Institutional Funds in connection with holdings $102 million of secured second lien debt in Broadstripe LLC Chapter 11 case and related lender liability litigation.
  • Representation of Highland Capital Management, L.P. as defendant in Fedders North America, Inc. Chapter 11 lender liability litigation.
  • Representation of Five Mile Capital Partners LLC as pre- and post-petition secured lender in Crescent Resources, LLC real estate Chapter 11 bankruptcy case.
  • Representation of The Bank of Nova Scotia as agent for the Parnassos Lenders in Adelphia Communications Corp. Chapter 11 case and related litigation.
  • Representation of examiner in Nellson Nutraceutical Chapter 11 case.
  • Representation of Deutsche Bank Trust Company Americas, as junior secured lender in Happy Kids children's apparel workout and Chapter 11 case.
  • Representation of aircraft lessor in Varig airlines section 304 proceeding.
  • Representation of Citicorp Leasing, Inc. as equipment lessor in Tower Automotive Chapter 11 case.
  • Representation of Societe Generale as lender in Quebecor World (USA), Inc. bankruptcy.

Publications

  • "The Fallout From Cherryland - Will The Non-Recourse Carve-Out Guaranty Ever Be The Same Again?" June 12, 2012.
  • "Weathering the Storm: Supreme Court in RadLAX Rules that Cramdown Plans Providing for Sales of Secured Creditors’ Collateral Must Allow for Credit Bid Rights," May 31, 2012.
  • "Annual Review of Litigation, Chapter 3: Appellate Practice," contributor, with Kendyl Hanks and Mark Trachtenberg, American Bar Association, Section of Business Law, April 2011.
  • "Fundaments of Chapter 11," Haynes and Boone Seminar, "Nuts and Bolts of (International) Insolvency," March 29, 2011.
  • "Equitable Mootness: Will the Surgery Kill the Patient?" American Bankruptcy Institute Journal, September 2010.
  • "In re General Growth Properties, Inc.: Motions to Dismiss SPE Cases...DENIED," Lenard Parkins, Michael Foreman and Trevor Hoffmann, Pratt's Journal of Bankruptcy Law, November/December 2009.
  • "Weathering the Storm: Savings Clauses: Fraudulent Transfer Issues in the TOUSA Bankruptcy Case," October 21, 2009.
  • "Weathering the Storm: Recent Court Decision Exposes the Reach of a Corporate Family's Financial Distress to its Bankruptcy-Remote Special Purpose Entities and Their Lenders," August 25, 2009.
  • "Bankruptcy Court Provides Parent Corporation with Access to Revenue Streams from Special Purpose Entities: In re General Growth Properties, Inc., et al.," Lenard Parkins and Trevor Hoffmann, Practicing Law Institute, July 2009.

Selected Representative Experience


FKF Madison Park Group Owner, LLC Chapter 11
Represented a joint venture, in which the managing member was one of the nation's top real estate development firms, in the acquisition through the bankruptcy process of the debtors' equity in a luxury Manhattan condominium project where secured debt alone is approximately $250 million. Assisted with and coordinated all aspects of the joint venture's efforts, including development of strategy, negotiations with adverse parties, and handling all of the joint venture's transactional, bankruptcy and litigation requirements.

Mexicana Airlines - Chapter 15
Representation of American Airlines' interests related to the Concurso proceedings of the Mexican passenger airlines Mexicana, including proper treatment of claims arising under a codesharing agreement and an interline agreement.

Innkeepers USA Trust
Representation of Midland Loan Services, the special servicer for an $825 million mortgage debt, in the Chapter 11 case of InnkeepersUSA Trust. Innkeepers' attempt to enter into a plan support agreement regarding a debt-for-equity swap was defeated. Midland's efforts resulted in the properties being placed on the market and a substantial increase in creditor recoveries.

FX Luxury Las Vegas, LLC - Bankruptcy
Representation of second lien agent and certain second lien (junior) lenders in the FX Luxury Las Vegas I, LLC bankruptcy case in the Las Vegas, Nevada bankruptcy court. Successfully obtained ownership for the firm's clients of a seventeen-acre property located on the Las Vegas strip across from City Center.

Fedders North America, Inc.
Represented Highland Capital Management, L.P. as secured lender in confirmed Chapter 11 case. Highland was a co-proponent of the plan of liquidation. Highland and the other lenders are also defendants in a lawsuit brought by the successor to the unsecured creditors' committee alleging multiple causes of action. In May 2009, the court issued a ruling, dismissing all claims against the lender defendants, including Highland, other than the aiding and abetting breach of fiduciary duty claim. We are currently defending Highland with regard to the remaining claim.

Online Publications

09/24/2014 - Weathering the Storm: Momentive Performance Court Rejects Market-Based Cramdown Interest Rate, Casts Doubt on Make-Whole Claims
On August 26, 2014, Judge Robert D. Drain of the Bankruptcy Court for the Southern District of New York issued a bench ruling in In re MPM Silicones, LLC, Case No. 14-22503 (RDD), on several aspects of the plan of reorganization filed by debtor Momentive Performance Materials, Inc., a specialty chemicals manufacturing company, and its affiliated debtors.

07/17/2013 - Seventh Circuit Extends New Value Plan Protections to Insider Context
The absolute priority rule ordinarily prevents a Chapter 11 debtor from distributing any money or property to junior creditors and old equity investors unless all senior creditors have first been paid in full. See 11 U.S.C. § 1129(b)(2)(B)(ii).

04/11/2013 - Weathering the Storm: Seventh Circuit Expands Application of Federal Standard for Successor Liability to FLSA
On March 26, 2013, in the case of Teed v. Thomas & Betts Power Solutions, L.L.C., the Seventh Circuit, in an opinion written by Judge Posner, joined at least one other circuit court and a multitude of district courts across the country in extending the federal common law standard for evaluating successor liability to suits brought under the Federal Labor Standards Act (“FLSA”).

03/07/2013 - Weathering the Storm: Fifth Circuit Permits Artificial Impairment of Unsecured Trade Creditors to Cram Down Plan Acceptance on Secured Lender
Bankruptcy Code § 1129(a)(10) provides that in order for a plan proponent to “cram down” - i.e., force acceptance of - a plan of reorganization on a dissenting class of creditors, at least one impaired class of creditors must vote in favor of the plan.

08/14/2012 - Weathering the Storm: They Said What They Meant: 5th Circuit Declines Invitation to Add Requirements to Safe Harbor for Forward Contracts
The Bankruptcy Code provides a number of “safe harbors” for forward contracts and other derivatives. These provisions exempt derivatives from a number of Bankruptcy Code provisions, including portions of the automatic stay, restrictions on terminating executory contracts, and the method for calculating rejection damages.

06/20/2012 - Think Real Estate, June 2012
Welcome to Think Real Estate, the real estate newsletter of Haynes and Boone, LLP, a resource for timely legal analysis of issues affecting the real estate industry.

06/12/2012 - The Fallout From Cherryland - Will The Non-Recourse Carve-Out Guaranty Ever Be The Same Again?
The issue is whether the insolvency of a borrower under a non-recourse loan can trigger recourse liability for itself and its “bad boy,” non-recourse carve-out guarantors.

05/31/2012 - Supreme Court in RadLAX Rules that Cramdown Plans Providing for Sales of Secured Creditors’ Collateral Must Allow for Credit Bid Rights
In what it described as "an easy decision," the U.S. Supreme Court issued its eagerly anticipated decision in RadLAX Gateway Hotel, LLC et al. v. Amalgamated Bank on May 29, 2012. The high court's 8-0 ruling, delivered by Justice Scalia, held that a Chapter 11 bankruptcy cramdown plan providing for the sale of a secured creditor’s collateral free and clear of the secured creditor's lien may not use Bankruptcy Code § 1129(b)(2)(A)(iii) to deny the secured creditor the right to "credit bid" on its own collateral.

12/01/2009 - In re General Growth Properties, Inc.: Motions to Dismiss SPE Cases....Denied
In the recent heyday of real estate and structured finance, the use of “bankruptcy-remote” special purpose entities (“SPEs”) as borrowers was a fundamental underwriting requirement by lenders, and a critical factor considered by ratings agencies, to shield lenders and their collateral from the potentially adverse impact of bankruptcy filings by their borrowers’ parents and affiliates.

10/21/2009 - Weathering the Storm: Savings Clauses: Fraudulent Transfer Issues in the TOUSA Bankruptcy Case
The judge's ruling in the October 13, 2009 TOUSA, Inc. bankruptcy cases raises a number of troubling issues for commercial lenders, including but not limited to, the judge calling into question the enforceability of fraudulent conveyance “savings clauses,” common in commercial loan agreements.

08/25/2009 - Weathering the Storm: Recent Court Decision Exposes the Reach of a Corporate Family’s Financial Distress to its Bankruptcy-Remote Special Purpose Entities and Their Lenders
In the recent heyday of real estate and structured finance, the use of “bankruptcy-remote” special purpose entities (SPEs) as borrowers was a fundamental underwriting requirement by lenders in many loans, and a critical factor considered by ratings agencies, to shield lenders and their collateral from the potentially adverse impact of bankruptcy filings by their borrowers’ parents and siblings.