• Doug Buckley represents mutual funds and distressed investors in municipal restructurings and corporate reorganizations. Doug represents clients, including Invesco, Fidelity, Franklin Templeton and Nuveen Asset Management, in some of the nation’s largest, most complex and highest-profile bankruptcies and out-of-court restructurings.

    Doug’s most recent representations include the ongoing representation of the indenture trustee for two issuances totaling $350 million of tax-exempt industrial revenue bonds guaranteed by Enviva Inc. prior to its bankruptcy filing.  Immediately prior to that, Doug represented an ad hoc group of holders of tax-exempt bonds related to AES Puerto Rico LP, a private producer of electricity in Puerto Rico, in the consensual out-of-court restructuring into restructured tax-exempt bonds and preferred shares, as well as rescue financing for AES Puerto Rico in March 2024. Doug’s other recent tax-exempt bond experience includes representing indenture trustees and bondholders in respect of conduit financing relating to health care providers, postsecondary educational institutions and a sustainable biofuel project startup.

    Apart from Municipal and Infrastructure Special Situations matters, Doug was part of the core corporate restructuring team representing the parent ad hoc claimant group in the cross-border case of LATAM Airlines.  The company successfully emerged from bankruptcy in November 2023 facilitated by nearly $4 billion in exit capital backstopped by the Kramer Levin client group, after prevailing in multiple litigations before the bankruptcy court and on appeal.  Doug also represented the Official Committee of Unsecured Creditors of Eagle Hospitality Trust (Eagle Hospitality Group), whose Chapter 11 plan was confirmed with the support of the committee following months of negotiation.

    Doug began work on municipal bond restructuring matters by representing some of the largest single bondholders and ad hoc groups of bondholders in the ongoing restructuring of debt issued by the commonwealth of Puerto Rico and its instrumentalities. As a member of the core Puerto Rico bankruptcy team, he represented mutual funds holding more than $3 billion in bonds issued by the Puerto Rico Sales Tax Financing Corp. (COFINA) in a restructuring under the federal PROMESA restructuring law, in a global settlement and a confirmed Plan of Adjustment, and an ad hoc group of mutual fund and distressed investors holding as much as $3 billion in bonds issued by the Puerto Rico Electric Power Authority (PREPA) in the negotiation of a restructuring support agreement and new securitization structure.

    Experience

    • Eagle Hospitality Trust (Eagle Hospitality Group) – Representation of the Official Committee of Unsecured Creditors of Eagle Hospitality Trust (Eagle Hospitality Group), which filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware on Jan. 18, 2021.

    • Puerto Rico Restructuring – Representation of OppenheimerFunds/Invesco in the restructuring of bonds issued by the commonwealth of Puerto Rico and its instrumentalities, in both court-supervised restructurings pursuant to Title III of the federal Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) restructuring law and out-of-court restructuring arrangements.

    • Neiman Marcus – Representation of UMB Bank, N.A., as successor indenture trustee for the unsecured notes issued by Neiman Marcus.

    • FirstEnergy Solutions Corp. – Representation of the holders of approximately 75% of the $2.2 billion in bonds issued or guaranteed by companies that operate or sell electricity generated by coal and nuclear power plants.

    • Puerto Rico COFINA Restructuring – Representation of mutual funds holding more than $3 billion in bonds issued by the Puerto Rico Sales Tax Financing Corp. (COFINA) in a restructuring under Title III of the federal PROMESA restructuring law, including intercreditor and interdebtor litigation that culminated in a global settlement and a confirmed Plan of Adjustment.

    • Term Loan Restructuring – Representation of a new lender in an out-of-court restructuring of a term loan facility for a metals processing company.

    • Lombard Public Facilities Corp. – Representation of Nuveen Asset Management as the largest holder of city of Lombard/Westin Hotel revenue bonds and appropriation municipal bonds from pre-petition negotiations through confirmation of a Chapter 11 plan.

    • Puerto Rico Electric Power Authority Restructuring – Representation of the Ad Hoc Group of PREPA Bondholders comprising mutual fund and distressed investors holding as much as $3 billion in bonds issued by the PREPA in the negotiation of a Restructuring Support Agreement contemplating an exchange of $8 billion in PREPA bonds for securitization bonds issued by a newly created special purpose vehicle.

    • Puerto Rico Litigation – Representation of several of Puerto Rico’s largest bondholders in successful litigation before the U.S. Court of Appeals for the First Circuit and the Supreme Court challenging the constitutionality of the commonwealth’s Debt Enforcement and Recovery Act, and representation of the indenture trustee for bonds issued by the University of Puerto Rico in litigation regarding the university’s covenant default and negotiation of a forbearance agreement to cure the default.

    Credentials

    Education

    • J.D., cum laude, Brooklyn Law School, 2013
      • Associate Managing Editor, Brooklyn Law Review
      • Barry L. Zaretsky Fellowship for Bankruptcy and Commercial Law
    • B.A., George Washington University, 2008

    Bar Admissions

    • New York, 2014

    Clerkships

    • Honorable Carla E. Craig, Chief Judge, U.S.B.C., Eastern District of New York, 2013 - 2014

    Court Admissions

    • U.S.D.C., Eastern District of New York
    • U.S.D.C., Southern District of New York

    Professional Affiliations

    • American Bankruptcy Institute