David D. Cleary

  • Shareholder; Chair, Phoenix Business Reorganization & Financial Restructuring Practice at Greenberg Traurig, LLP (1800 Attorneys)
  • 2375 East Camelback Road, Suite 700, Phoenix, AZ 85016
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David D. Cleary is Chair of the firm's Phoenix Restructuring & Bankruptcy Practice. He focuses his practice on business restructuring and reorganizations, distressed asset dispositions and financings, debt restructurings and workouts, and litigation. David regularly represents individuals, distressed companies, financial institutions, secured and significant creditors, noteholders and bondholders, hotel/resort owner/operators, boards of directors, debtors, official and ad hoc committees, and insurance and surety portfolios.

David also handles municipal and tax-exempt restructurings. He is currently co-leading the GT team involved in the Puerto Rico restructuring, including representing the Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority.


•Corporate reorganization, restructuring and refinancing
•Mergers and acquisitions involving financially distressed entities and/or assets
•Bank lending/financial institutions
•Counsel to boards of directors and management
•Health care
•Tax-exempt restructuring

Recognition & Leadership

Awards & Accolades

•Listed, The Best Lawyers in America, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law; Litigation - Bankruptcy, 2012-2018
•Listed, Super Lawyers magazine, Southwest Super Lawyers, 2011-2016
• Top 50 Super Lawyers in Arizona, 2015-2016
Illinois Super Lawyers, 2005-2009
•Member, Winning Team, M&A Advisor’s Turnaround Awards, Restructuring of the Year (Over $500mm to $1 Billion) for the restructuring of FriendFinder Networks, 2015
•Member, Winning Team, ACG New York Champion’s Awards, Technology, Media, Telecom (over $100mm) for Restructuring of FriendFinder Networks Inc. - Senior Secured Notes and Second Lien Notes, 2014
•Member, Winning Team, Media & Entertainment Turnaround of the Year” for the reorganization of FriendFinder Networks Inc., Global M&A Network’s Turnaround Atlas Awards, 2014
•Member, Winning Team, ACG New York Champion’s Awards, Corporate/Strategic Acquisition of the Year (Over $250mm) and Consumer Services categories for Indianapolis Downs, LLC - Sale of Indiana Grand Casino and Indiana Downs Racetrack, 2013
•Team Member, a U.S. News - Best Lawyers , Law Firm of the Year in Bankruptcy and Creditor-Debtor Rights / Insolvency and Reorganization Law and Litigation - Bankruptcy, 2013
•Listed, Illinois Leading Lawyers
•Rated, AV Preeminent 5.0 out of 5

AV , AV Preeminent , Martindale-Hubbell Distinguished and Martindale-Hubbell Notable are certification marks used under license in accordance with the Martindale-Hubbell certification procedures, standards and policies.

(Also at Chicago, Illinois Office)

Areas of Practice (2)

  • Restructuring & Bankruptcy
  • Aircraft & Equipment Finance

Education & Credentials

Contact Information:
602.445.8579  Phone
602.445.8646  Fax
University Attended:
Arizona State University, B.A., cum laude, 1984
Law School Attended:
DePaul University College of Law, J.D., with honors, Article and Note Editor, DePaul Law Review, 1987
Year of First admission:
1988, Arizona; 1990, Illinois; U.S. Court of Appeals for the Ninth Circuit; U.S. Court of Appeals for the Seventh Circuit; U.S. District Court for the District of Arizona; U.S. District Court for the Northern District of Illinois

Professional & Community Involvement

•Member, Chicago Bar Association
•Member, Judicial Evaluation Committee
•Past Chair, Rules Sub-Committee of the Bankruptcy Committee
•Member, Seventh Circuit Bar Association
•Member, American Bankruptcy Institute
•Past Co-Chair, Asset Sales Committee, Successor Liability Subcommittee
•Past Co-Chair, Healthcare Committee, Legislative Subcommittee
•Master, Arizona Bankruptcy Inn of Court
•Member, Board of Directors, YWCA, Maricopa County
•Past Co-Chair, American Bar Association, Litigation Section, Bankruptcy and Insolvency Committee

Birth Information:
May 9, 1962
Reported Cases:
Experience: Representative Matters: Representation of the Puerto Rico Electric Power Authority and the Puerto Rico Aqueduct and Sewer Authority in connection with debt restructuring under PROMESA.; Represented bondholder committee in Conseco Finance bankruptcy case.; Represented City of Chicago in the United Airlines and American Airlines bankruptcy cases.; Represented General Motors in its pre-bankruptcy preparation, reorganization and corporate restructuring.; Represented significant creditors in Kmart bankruptcy cases.; Represented credit enhancers in ATA, Delta and Northwest Airlines.; Represented Richie Risk-Linked Strategies Trading (Ireland) Ltd (Life Settlement) as debtor in its Chapter 11 case.; Acted as restructuring and bankruptcy counsel for Mercury Finance Company in its out-of-court restructuring efforts and subsequent Chapter 11 filing involving in excess of $2 billion indebtedness.; Represented retiree committee in Florsheim Shoes.; Counsel to bondholder committee in restructuring and Chapter 11 case involving an energy facility in Alabama.; Counsel to bondholder committee in Chapter 11 case involving a waste to energy facility in Illinois.; Represented indenture trustee of approximately $600 million of senior subordinated notes in National Gypsum Chapter 11 case.; Represented major manufacturing company in connection with several acquisitions in and out of bankruptcy cases.; Represented indenture trustees in defaults and bankruptcy cases.; Represented bondholders, indenture trustees and credit enhancers in both tax-exempt and taxable issues for energy, health care, airline and municipal-related transactions.; Provided restructuring and dispute resolution counsel as national coordinating counsel for insurance and surety companies (asbestos, construction and mass tort).; Represented numerous receivers and other parties-in-interest in ancillary proceedings and credit enforcement engagements.; The above representations were handled by Mr. Cleary prior to his joining Greenberg Traurig, LLP.

Peer Reviews

  • 5.0/5.0
  • A Martindale-Hubbell Peer Rating reflects a combination of achieving a Very High General Ethical Standards rating and a Legal Ability numerical rating.

*Peer Reviews provided before April 15, 2008 are not displayed.

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Phoenix, Arizona

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