Mark C. Ellenberg

Partner
Washington,  DC  U.S.A.
Phone202 862 2238

Peer Rating
 5.0/5.0
AV® Preeminent

Client Rating

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Practice Areas

  • Bankruptcy Litigation
  • Corporate Restructuring & Reorganization
  • Distressed Energy
  • Distressed Finance
  • Real Estate Restructuring
  • Distressed Municipal Finance
  • Distressed Structured Products
  • Financial Restructuring
  • Municipal Derivatives
 
Contact InfoTelephone: 202 862 2238
Fax: 202 862 2400
http://www.cadwalader.com/professionals/mark-ellenberg
 
University Cornell University, B.S., 1972
 
Law SchoolGeorgetown University Law Center, J.D., 1975
 
Admitted1975, District of Columbia; U.S. District Court, District of Maryland; U.S. Court of Appeals, District of Columbia Circuit; U.S. Court of Appeals, 3rd Circuit; U.S. Court of Appeals, 4th Circuit; U.S. Court of Appeals, 5th Circuit; U.S. Court of Appeals, 6th Circuit; U.S. Court of Appeals, 8th Circuit; U.S. Court of Appeals, 10th Circuit; U.S. Court of Appeals for the Federal Circuit; U.S. District Court, District of Columbia; U.S. Court of Appeals, 2nd Circuit; U.S. Supreme Court
 
Biography

Mark Ellenberg, Co-Chair of Cadwalader's Financial Restructuring Group, advises debtors and creditors in complex financial restructuring, workout, and bankruptcy matters.

In the ResCap Chapter 11 case, Mark represented MBIA, the largest creditor in the case, with a $2.2 billion claim. He played a leading role in the negotiations with ResCap's parent, Ally Financial, for a $2.1 billion contribution to the ResCap estate. In the Lehman bankruptcy cases, he represented Morgan Stanley with respect to over $1 billion in claims related to the close out of derivative and commodities contracts. He represented LyondellBasell in its Chapter 11 reorganization cases, where he assisted the company in obtaining an $8 billion debtor in possession loan and in the confirmation of a groundbreaking plan of reorganization that discharged European, as well as US debts. His diverse experience also includes representation of Northwest Airlines, Geneva Steel, and Zenith Laboratories, Inc. in their chapter 11 reorganization cases. He has also represented a bond holder group that provided debtor-in-possession financing to Verasun, the largest U.S. producer of ethanol, and the official unsecured creditors committees for Grove Worldwide, the leading manufacturer of mobile cranes, for Winstar, a leading broadband services provider, and Jitney Jungle, a supermarket chain with close to 200 stores in the Southern United States.

A fellow of the American College of Bankruptcy since 2004, Mark is listed in Who's Who Legal USA, the International Who's Who of Insolvency and Restructuring Lawyers, and Washingtonian magazine. He is also regularly recognized as a leading lawyer by Chambers USA, in which he is acknowledged by peers as a national heavyweight in the bankruptcy field, praised by clients as he takes a wise approach and has a steady hand to make the best of difficult situations, and noted for figuring out how to move a case forward and achieving the best results, whether it be by negotiating or litigating. LawDragon named him one of the 500 best lawyers in the United States. The Best Lawyers in America selected Mark as a leading lawyer in Bankruptcy and Creditor-Debtor Rights, Insolvency and Reorganization, and Bankruptcy Litigation, where clients noted that he is a top notch professional, cool and calm in negotiations and delivers a top result. Mark is also recognized by Super Lawyers as one of the top bankruptcy lawyers in Washington D.C., and as a key individual by Legal500. In addition, he is an Adjunct Professor at Georgetown University Law Center, teaching bankruptcy and creditors' rights. He was co-editor of Bankruptcy Law & PracticeSixth Ed., Cowans 1994.

Mark is a graduate of Cornell University, where he received a B.S. degree in 1972. He received his J.D. degree from Georgetown University Law Center in 1975 and served as Research Editor of the Georgetown Law Journal. Following law school, Mark served as law clerk for The Honorable Thomas A. Flannery, Judge, United States District Court for the District of Columbia.

Mark is a member of the American Bar Association and the District of Columbia Bar Association. He is admitted to practice in the District of Columbia and before the United States Supreme Court, the District of Columbia, 2d, 3d, 4th, 5th, 6th, 8th, 10th, and Federal Circuits of the United States Courts of Appeals, and the United States District Courts for the Districts of Columbia and Maryland.

Experience

Mark is a recognized leader in issues related to trading contracts. He is a member of the ABI Safe Harbors Advisory Committee, which is tasked with recommending revisions to the Bankruptcy Code. In the Enron chapter 11 case, Mark was special counsel to the debtors for issues related to the close out of the debtors' $60 billion trading book. He regularly advised Bear Stearns on bankruptcy issues relating to trading contracts and derivatives, and actively participated in the preparations for a possible bankruptcy filing by that company in March 2008. In addition to Morgan Stanley, he represented a number of creditors in the Lehman bankruptcies, and regularly advises financial institutions on trading contract and derivatives issues. He is also representing a number of MF Global creditors on issues such as the return of excess collateral and letters of credit.

Mark represented XL Capital, a global insurance company, with respect to the successful termination of an $80 billion guaranty of credit default swap and other liabilities of monoline insurance company SCA (now known as Syncora). In the case of Mutual Benefit Life Insurance Company, the largest insurance company failure then on record, Mark led the legal team drafting a rehabilitation plan for the $12 billion institution and was lead counsel in the plan confirmation hearing. He played the same role in the rehabilitation of the Confederation Life Insurance Company, U.S. Branch. He is also advising a monoline insurer in connection with the potential restructuring of several billion dollars of debt issued by the Commonwealth of Puerto Rico and its public agencies.

Mark was a principal member of the team representing the official committee of Dalkon Shield claimants in the A. H. Robins bankruptcy, obtaining a $2.5 billion trust fund to pay for Dalkon Shield injuries and participating in a pioneering estimation proceeding for the 300,000 filed Dalkon Shield claims. He has also advised secured creditors concerning a wide variety of real estate workout and bankruptcy matters, involving such properties as the Aladdin Hotel & Casino, shopping centers, office buildings, and apartment buildings.

News

News Releases

Cadwalader Attorneys, Practices Recognized in 2015 Edition of The Best Lawyers in America

Aug 18, 2014

Cadwalader Recognized Among Leading Firms in The Legal 500 US 2014

Jun 27, 2014

Super Lawyers Recognizes Cadwalader's Washington, D.C. Attorneys

Apr 25, 2014

Cadwalader Attorneys, Practices Recognized by 2014 Chambers Global Guide

Mar 25, 2014

The Washingtonian Names Four Cadwalader Partners to its 'Best Lawyers' List

Dec 04, 2013

Cadwalader Recognized in 2013 Edition of The Legal 500 US

Oct 25, 2013

2014 Edition of The Best Lawyers in America Recognizes 44 Cadwalader Attorneys Across a Range of Practices

Oct 22, 2013

Washington, D.C., Super Lawyers Recognizes 15 Cadwalader Attorneys

May 01, 2013

More Than 25 Cadwalader Attorneys in 17 Practice Areas Recognized by 2013 Chambers Global Guide

Apr 08, 2013

Cadwalader Has Another Breakout Year at the IFLR Americas Awards - Firm is Recognized for Two Outstanding Achievements in Deal and Team Categories

Mar 27, 2013

IFLR 1000 Again Names Cadwalader a Leader in Core Transactional Areas of Practice

Nov 06, 2012

2013 Edition of The Best Lawyers In America Recognizes 45 Cadwalader Attorneys in Multiple Areas of Practice

Oct 06, 2012

The Legal 500 Recognizes More than 15 Cadwalader Practices and 47 of the Firm's Lawyers Across U.S. Offices

Jun 06, 2012

IFLR 1000 Again Names Cadwalader a Leader in Core Transactional Areas of Practice

Oct 19, 2011

2012 Edition of The Best Lawyers In America Recognizes 45 Cadwalader Attorneys in 30 Areas of Practice

Sep 06, 2011

Super Lawyers Taps Cadwalader DC Attorneys as Outstanding in Their Fields

May 20, 2011

The Best Lawyers In America Recognizes 37 Cadwalader Attorneys in 21 Areas of Practice

Aug 04, 2010

Washingtonian Names Three Cadwalader Attorneys Top Lawyers

Dec 03, 2009

Cadwalader Commended in 2010 IFLR 1000

Oct 07, 2009

2010 Edition of The Best Lawyers In America Recognizes Numerous Cadwalader Attorneys

Aug 07, 2009

Cadwalader Lauded in Multiple Practices in Chambers USA

Jun 12, 2009

Recent Press

Washington's Top Lawyers

Dec 07, 2009

Recognition

Cadwalader Attorneys, Practices Recognized in 2015 Edition of The Best Lawyers in America

Aug 18, 2014

Cadwalader Recognized Among Leading Firms in The Legal 500 US 2014

Jun 27, 2014

Chambers and Partners USA 2014

May 23, 2014

Super Lawyers Recognizes Cadwalader's Washington, D.C. Attorneys

Apr 25, 2014

Cadwalader Attorneys, Practices Recognized by 2014 Chambers Global Guide

Mar 25, 2014

Cadwalader Recognized in 2013 Edition of The Legal 500 US

Oct 25, 2013

2014 Edition of The Best Lawyers in America Recognizes 44 Cadwalader Attorneys Across a Range of Practices

Oct 22, 2013

Chambers and Partners USA 2013

May 24, 2013

Super Lawyers Recognizes 15 Cadwalader Attorneys in Washington, D.C.

May 01, 2013

International Financial Law Review's 2013 IFLR 1000

Nov 06, 2012

Super Lawyers 2012

Oct 15, 2012

The Best Lawyers In America 2013

Oct 06, 2012

Chambers and Partners USA 2012

Jun 07, 2012

2012 Legal 500 US

Jun 06, 2012

Resources

Clients & Friends Memos

No Market Interest Rate and No Make Whole: Momentive Performance Court Rejects Lender Arguments Against Confirmation

Sep 17, 2014

Lyondell Bankruptcy Court Holds That Safe Harbors Do Not Prohibit Creditors From Asserting State Law Constructive Fraudulent Transfer Claims

Jan 29, 2014

Lehman Bankruptcy Court Issues Safe Harbor Decision

Jan 06, 2014

Court Rules that Detroit is Eligible for Chapter 9 and that Pensions May be Impaired in Chapter 9

Dec 06, 2013

Insurers Seek Enforcement of State Law Protections for City of Detroit GO Bonds

Nov 12, 2013

Court Holds that San Bernardino is Eligible to File for Chapter 9

Oct 24, 2013

Detroit Bankruptcy Court Refuses Stay of Chapter 9 Eligibility Hearing Under Stern v. Marshall

Sep 30, 2013

Court Approves Extension of the Automatic Stay in Detroit's Chapter 9 Case to State Officials

Jul 26, 2013

City of Detroit Files Chapter 9 Bankruptcy Petition - Challenges Ahead

Jul 19, 2013

Court Holds that Stockton is Eligible to File for Chapter 9

Apr 03, 2013

State Review Team Finds Financial Emergency in City of Detroit. What is Next for the City of Detroit?

Feb 19, 2013

City of Stockton: Bankruptcy Court Holds that Rule 9019 Does Not Apply to Chapter 9 Debtors

Jan 31, 2013

SDNY Bankruptcy Court Interprets Section 546(e)'s Safe Harbors in Lehman-JPMorgan Dispute

May 03, 2012

Delaware's Not So Safe Harbors: Third Circuit Bankruptcy Court Declines to Rule that a Payment on a Letter of Credit is an Avoidance-Proof Settlement Payment

Apr 17, 2012

English Court of Appeal Interprets the ISDA Master Agreement

Apr 12, 2012

Bankruptcy Court for Southern District of New York Prohibits Triangular Setoff Provided for in Safe Harbored Contract

Oct 12, 2011

Living Wills: FDIC Modifies, Finalizes Rules

Sep 23, 2011

FDIC Approves Rule Making With Respect to Orderly Liquidation Authority; Defers Ruling on Living Wills

Jul 28, 2011

Stern v. Marshall: How Big Is It?

Jul 14, 2011

The Dodd-Frank Act: How It Impacts Specific Institutions, Entities and Transactions

Jun 22, 2011

Living Wills: A User's Guide To Dodd-Frank's Bequest to Banks

Jun 13, 2011

S.D.N.Y. Bankruptcy Court Continues to Construe Bankruptcy Code's Safe Harbor Provisions Narrowly

Jun 07, 2011

Third Circuit Upholds Use of Discounted Cash Flow Method Under Bankruptcy Code Section 562 in In re American Home Mortgage Holdings, Inc., et al.

Mar 02, 2011

High Court Interprets Section 2(a)(iii) of the ISDA Master Agreement

Dec 22, 2010

S&P Reconsiders De-Linked Rating for Bank-Sponsored Securitizations That Fall Outside FDIC's Final Safe Harbor Rule

Nov 22, 2010

S&P Likely to Refuse De-Linked Ratings for Bank-Sponsored Securitizations That Fail to Meet FDIC's Final Safe Harbor Rule

Oct 27, 2010

District Court Grants BNY Leave to Appeal Bankruptcy Court's Interlocutory Order In Lehman, Prohibiting Enforcement Of Ipso Facto Clause In Swap

Oct 13, 2010

FDIC Adopts Final Securitization Safe Harbor Rule

Oct 11, 2010

FDIC Approves Final Securitization Safe Harbor

Sep 28, 2010

Orderly Liquidation of Financial Companies, Including Executive Compensation Clawback, Under the Dodd-Frank Wall Street Reform and Consumer Protection Act

Jul 20, 2010

U.S. Senate Bill Creates New Regime for Orderly Liquidation of Financial Companies That Present Systemic Risk

Jun 01, 2010

Securitization Reforms: What is the Current State of Play?

May 26, 2010

U.S. District Court Affirms Delaware Bankruptcy Court Decision in SemCrude Prohibiting Triangular Setoff

May 25, 2010

FDIC Seeks Stronger, Sustainable Securitizations by Imposing Additional Conditions to Eligibility for Securitization Safe Harbor

May 21, 2010

Lehman Bankruptcy Court Rules Safe Harbors Do Not Override Setoff Mutuality Requirement

May 06, 2010

Lehman Court Finds Payment Priority Provision Is Unenforceable Ipso Facto Clause, And Must Be Part Of Swap For Safe Harbor Protection

Jan 29, 2010

The Revised FDIC Securitization Safe Harbor Rule; The FDIC Responds to Changes in GAAP Accounting Rules with Proposed Sweeping Regulation of Bank Securitization Structures

Dec 22, 2009

American Home Court Denies Bank's Deficiency Claim by Accepting Discounted Cash Flow Valuation of Mortgage Loan Portfolio Subject to Repurchase Agreement

Sep 17, 2009

GGP Bankruptcy Court Denies Motions to Dismiss Twenty Property Level Bankruptcy Cases as Bad Faith Filings

Aug 13, 2009

Litigation Challenges Counterparty Right to Withhold Payments under Section 2(a)(iii) of ISDA Master Agreement as Violation of Automatic Stay Provisions of U.S. Bankruptcy Code

Aug 11, 2009

General Growth Properties Bankruptcy Court Enters Final Order on Cash Collateral, Cash Management, and DIP Financing Issues

May 18, 2009

General Growth Properties Bankruptcy Court Defers Final Ruling on Cash Collateral, Cash Management and DIP Financing Issues

May 11, 2009

The Banking Act 2009: Counterparty Rights and Insolvent Banks

Mar 10, 2009

Delaware Bankruptcy Court Decision in SemCrude Poses Setback to Triangular Setoff

Jan 16, 2009

Articles

A Debtor-Friendly View Of Safe Harbors

Aug 22, 2011

The Price of Terminating a Mortgage Loan Repurchase Agreement

Apr 11, 2011

Same question, different outcome: s 2(a)(iii) of the ISDA Master Agreement under English and US insolvency law

Mar 01, 2011

Lehman Bankruptcy Court Rules Safe Harbors Do Not Override Setoff Mutuality Requirement

May 24, 2010

The Enforceability of Structured Finance Subordination Provisions: Where to Next?

May 01, 2010

The Dante Decision: A Legal Analysis

Feb 15, 2010

Lehman Brothers Bankruptcy Filings: Issues for Replacement Swap Counterparties and their Municipal Clients

Mar 02, 2009

Events

Distressed Municipality Spotlight: Detroit

Jan 10, 2013

Distressed Energy Investments

Jun 14, 2012

Newsletter

Trade Alert

Trade Alert - May 2014, Issue 5

Jun 03, 2014

 
ISLN907621315
 

Documents by this lawyer on Martindale.com

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No Market Interest Rate and No Make Whole: Momentive Performance Court Rejects Lender Arguments Against Confirmation
Ingrid Bagby,Mark C. Ellenberg,Michael A. Stevens, September 23, 2014
On August 26, 2014, Judge Robert D. Drain of the United States Bankruptcy Court for the Southern District of New York ruled that (i) the debtors could satisfy the cramdown requirements of section 1129(b) of the Bankruptcy Code by issuing to certain secured noteholders replacement notes with...

Lyondell Bankruptcy Court Holds That Safe Harbors Do Not Prohibit Creditors From Asserting State Law Constructive Fraudulent Transfer Claims
Israel Dahan,Mark C. Ellenberg,Michael Stevens, February 4, 2014
On January 14, 2014, Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York in Weisfelner v. Fund 1. (In re Lyondell Chemical Co.), Adv. Proc. No. 10-4609 (REG), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) held that section 546(e) of the Bankruptcy...

Lehman Bankruptcy Court Issues Safe Harbor Decision
Kathryn Borgeson,Mark C. Ellenberg,Lary Stromfeld,John H. Thompson, January 7, 2014
On December 19, 2013, Judge James M. Peck of the United States Bankruptcy Court for the Southern District of New York issued his latest decision in the Lehman Brothers cases addressing the scope of the safe harbor provisions of the Bankruptcy Code. Michigan State Housing Development Authority v....


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Office Information

Mark C. Ellenberg

700 Sixth Street, N.W.
WashingtonDC 20001




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