Walter K. Oetzell, Partner

Walter K. Oetzell specializes in bankruptcy and commercial finance with an emphasis on litigation. In his practice he represents debtors, creditors, utilities, telecommunication companies, airports and cities and trustees in reorganizations and bankruptcy proceedings. His experience includes litigating letter of credit issues and representing originators in structured finance transactions.

Significant matters include the following:

  • Represented numerous national utilities in preference and adequate assurance actions in high-profile bankruptcies
  • Represented indenture trustee of senior subordinated notes in bankruptcy litigation seeking distribution subordination
  • Represented national long distance carrier and Internet service provider in numerous contract actions and bankruptcy proceedings resulting in settlements and judgments in excess of $18 million
  • Successfully prosecuted significant action for wrongful dishonor of letter of credit for a national telecommunications company
  • Responsible for analysis, documentation and opinions regarding “bankruptcy remote”, “true sale” and “substantive consolidation” issues in various multilayered securitization transactions
  • Represented the unsecured creditors’ committee in the Los Angeles Airport Hilton bankruptcy including recovery of $2.5 million transferred to 150 limited partners and objecting to more than 500 claims, resulting in distribution in excess of 75%
  • Represented various airports and cities in national and international airline bankruptcy cases, including United Airlines and Air Canada
  • Represented Chapter 11 trustee in high-profile bankruptcy of real estate investor including prosecuting multiple fraudulent transfer actions, filing Chapter 11 cases for various tenant-in-common limited liability companies (LLCs) to effect sale of real property assets, and litigating against additional members of LLCs to obtain distribution
  • Represented bankruptcy estate of high-profile nonprofit organization in action against former directors and officers for breach of fiduciary duty and corporate waste


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