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William (WIll) J. Schumacher

I’m not just a bankruptcy attorney – my goal is to solve my clients' problems.

Contact: P /612.604.6478E /[email protected]

Education

University of Minnesota Law School, J.D., magna cum laude, Business Law Concentration, 2014

University of Minnesota – Carlson School of Management, B.S.B., Accounting, 2009

Bar Admissions

Minnesota

California

U.S.D.C., C.D. Cal.

U.S.D.C., N.D. Cal.

My Approach

Bankruptcy can sound like a scary word, but I believe it to be one of the most ingenious and hopeful aspects of law in the United States. This set of rules allows companies and individuals to restructure and move on from debt – it allows a fresh start, rather than closed doors. The Bankruptcy Code helps businesses preserve jobs, keep employees, and shift gears and still contribute to society – even creditors’ often end up better positioned through the restructuring process, and I appreciate working in an area that helps businesses achieve a second chance.

I enjoy working in code-based law like bankruptcy – it provides a strong framework for debtors, creditors, and other stakeholders to achieve either consensual or court ordered resolutions that generally optimize economic outcomes in a distressed situation. I bring solutions and creative options to my clients, to help them obtain the best possible outcome from less-than-ideal situations. I also work to ensure these solutions make sense for my clients and their business objectives – I’ll never advise pursuing a major, expensive litigation when the issue can be resolved much more efficiently through collegial, informal outreach to the opposing party.

Outside of work, I enjoy spending time at the lake with my family, paddleboarding and generally being in the water. I also have two Border Collies, and together we have taken up sheepherding (which sometimes results in car-herding, too).

Practice Areas

Practicing Creditors’ Remedies, Bankruptcy & Work-Out

My Experience

I represent and advise debtors, secured and unsecured creditors and others in the financial services industry. I focus my practice on creditors’ rights, business restructuring and reorganization, including chapter 11 proceedings, complex bankruptcy litigation, liquidation, section 363 sales, and out-of-court restructuring related matters. I have significant experience drafting dispositive motions in bankruptcy proceedings. I have represented clients in a variety of industries, including retail, media, oil and gas, and healthcare.

Representative Matters

Debtor/Chapter 11 Trustee Representations

• Representation of Robert A. Kors, chapter 11 Trustee, in In re Kfir Gavrieli, successfully confirming a plan of reorganization
• Representation of OneWeb Global Limited in the confirmation of its plan of reorganization in its chapter 11 cases
• Representation of Knotel Inc. in its bankruptcy cases through which Knotel completed the successful sale of substantially all of its assets
• Representation of American Commercial Lines, Inc. in preparation for its chapter 11 proceedings and obtaining confirmation of the company’s prepackaged plan of reorganization
• Representation of American Apparel, LLC in its chapter 11 cases

 

Creditor/Equity Representations

• Representation of Melody Capital Partners, LP and certain of its affiliated funds as creditors and potential purchasers of Furie Operating Alaska, LLC and certain affiliated chapter 11 debtors
• Representation of Ambac Assurance Corporation as a monoline insurer and creditor in the Commonwealth of Puerto Rico and affiliated debtor cases under Title III of PROMESA
• Representation of Equity holders in the PG&E bankruptcy cases (PG&E Corporation and Pacific Gas and Electric Company)
• Representation of senior creditors in the bankruptcy cases of iHeartCommunications, Inc.
• Representation of NantWorks, LLC, Integrity Healthcare, LLC, and Nant Health, LLC as creditors in the Verity Health System of California, Inc. bankruptcy cases
• Representation of Mattel as the largest unsecured creditor and co-chair of the creditors’ committee in the Toys ‘R’ Us bankruptcy cases

Associations & Memberships

American Bankruptcy Institute