Douglas Buckley

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.