Craig E. Reimer

Craig Reimer represents institutional administrative agents, secured lenders, indenture trustees, pension funds, insurance companies, Fortune 100 companies and other creditors in all aspects of out-of-court workouts, financial restructurings and bankruptcy proceedings. In addition, Craig has served as debtor’s counsel in a number of complex chapter 11 cases ranging involving the restructuring of billions of dollars of indebtedness. Craig also has obtained extensive experience in real estate foreclosure actions across the country, including representing secured lenders, special servicers and other stakeholders in CMBS transactions, and has substantial experience advising secured creditors in connection with exercising remedies under Article 9 of the Uniform Commercial Code.

Recent institutional engagements include The Royal Bank of Scotland, plc, as administrative agent for a lender syndicate that has provided more than $5.8 billion of financing to a privately owned and operated toll road system. Craig also served as one of the lead bankruptcy attorneys in ATP Oil & Gas Corp.’s multi-billion dollar chapter 11 proceeding and represents clients in several other energy cases, including Quicksilver Resources, Energy XXI and Cal Dive. Craig has represented parties in many of the largest and most complex chapter 11 cases in the country, including Caesars, Lehman Brothers, Hawker Aircraft, United Airlines, US Airways, General Motors, Kmart and Nortel. Over the years, Craig has represented the secured lenders in some of the largest real estate foreclosure cases in the Midwest and has extensive experience representing secured lenders from workouts, restructurings, foreclosures and bankruptcy proceedings involving all types of commercial real estate, including Class A office buildings, multi-use properties, hotels and golf resorts, big box, retail stores and large industrial properties.

Craig joined Mayer Brown in 1992.

Administrative Agent/Secured Lender Representations

• Administrative agent, lender and hedge provider in connection with a loan to a geothermal power plant.
• The administrative agent for $4.5 billion of senior secured claims in the chapter 11 bankruptcy filed by the owners of the Indiana Toll Road in the Northern District of Illinois.
• A secured lender with respect to its $50 million mortgage loan on the Volusia Mall, and as a creditor in the related claims against the parent of the mortgagor in the CBL & Associates chapter 11 bankruptcy cases in the Southern District of New York.
• The administrative agent in the cross-border restructuring of $900 million construction loan provided to a joint venture formed by Ocyan and Teekay Construction to build and charter a floating production storage and offloading vessel.
• The administrative agent for the senior secured lenders in Conseco, Inc.’s multi-billion dollar chapter 11 case filed in the Northern District of Illinois.
• The Canadian Export Development Bank in connection with its secured claims in the chapter 11 case filed by Nortel Networks Inc. in the District of Delaware.
• The secured aircraft financing parties in the UAL/United Airlines chapter 11 cases filed in the Northern District of Illinois and in connection therewith successfully obtained stay relief and completion of UCC foreclosure sales involving dozens of aircrafts.
• ABN AMRO, N.V., including as administrative agent, secured lender, and creditor in chapter 11 bankruptcy cases, out-of-court restructurings, and state court foreclosure actions throughout the country.
• Secured lenders with respect to various life settlement cases, including the chapter 11 case filed by LTAP US, LLLP in the District of Delaware, the chapter 11 case filed by QOC I LLC filed in the Southern District of Florida, and the chapter 11 case filed by Ritchie Risk-Linked Strategies Trading (Ireland), Ltd. in the Southern District of New York.
• The mezzanine lender and its affiliated preferred equity investor in the chapter 11 case filed by the owners of the Plaza Mexico shopping center in the Central District of California.

Indenture Trustee/Cross-Border/Other Significant Creditor Representations

• The indenture trustee, collateral agent, and offshore account bank for $2.5 billion of secured notes in connection with successful cross-border restructuring of Odebrecht Oil & Gas (n/k/a Ocyan) and certain of its affiliates. This matter was awarded Restructuring Deal of the Year at the IFLR Americas Awards 2018.
• The indenture trustee with respect to the successful out-of-court restructuring of 4.875% Senior Notes due 2029 issued by Empresa Electrica Angamos S.A. in Chile.
• Export Development Canada in connection with its claims against Impsa SA in its restructuring in Argentina and the judicial reorganization proceeding filed by Impsa’s subsidiary, Wind Power Energy, in Brazil.
• An information processing company in the strategic purchase of equity interests in certain financially distressed financial technology companies and substantially all of the assets of another financially distressed financial technology company through an out-of-court Article 9 foreclosure sale by a secured seller-party.
• Contract counterparties located in Brazil and Ecuador with respect to the treatment and disposition of their executory contracts with Latam Airlines in its chapter 11 bankruptcy case filed the Southern District of New York.
• The successful purchaser, DIP lender and plan sponsor with respect to the chapter 11 case filed in the Northern District of Illinois by CC Care, Inc., which was the owner and operator of nine senior-living retirement homes.
• An aircraft lessor in the Avianca chapter 11 bankruptcy case filed in the Southern District of New York.
• The landlord for an office building in Hong Kong involved in the Speedcast International, Inc. chapter 11 bankruptcy case in the Southern District of Texas.

Debtor/Company Representations

• GWG Holdings, Inc. and certain of its subsidiaries, a publicly-traded life settlements and alternative investments company with approximately $2.1 billion in debt at the time of filing, as debtors’ counsel, in connection with their chapter 11 cases.
• School Specialty, Inc., a leading provider of educational products and services to the Pre-K–12th grade market in the U.S. and Canada, in its successful out-of-court restructuring of more than $300 million of debt and consensual sale of substantially all of its assets.
• ATP Oil & Gas, an offshore exploration and production, in its multi-billion dollar chapter 11 case filed in the Southern District of Texas.
• Metal Management, Inc., a metal recycling company, in its successful, pre-arranged chapter 11 case filed in the District of Delaware.
• True Temper Sports, Inc. with respect to its successful prepackaged chapter 11 bankruptcy case filed in the District of Delaware.
• Caesars Entertainment Operating Company, Inc., as special counsel, and its affiliates in their successful chapter 11 cases filed in the Northern District of Illinois. 

Representation of Clients in 363 Sale Transactions

• The successful stalking horse bidder with respect to acquisition of an office tower under section 363 sale process in the chapter 7 bankruptcy case of Lichtin/Wade, LLC filed in the Eastern District of North Carolina.
• The successful bidder for Thistledown racetrack located near Cincinnati, Ohio under 363 auction sale process in the Magna Entertainment Corp. chapter 11 case filed in the District of Delaware.
• The successful bidder for assets under 363 sale process in the Zachy Farms chapter 11 case filed in the Central District of California.
• The stalking horse bidder in the AT&T Latin America chapter 11 case filed in the Southern District of Florida.
• The successful purchaser of assets in section 363 sale transaction in the First Connecticut Consulting Group, Inc. chapter 11 case filed in the District of Connecticut.
• The successful bidder for the purchase of the assets of NutraCea in a section 363 sale process in chapter 11 case filed in the District of Arizona.
• The successful stalking horse purchaser of assets under section 363 sale process in the Bamboo Abbot, Inc. chapter 11 case filed in the District of New Jersey.
• The successful purchaser of assets in section 363 sale transaction in the First Connecticut Consulting Group, Inc. chapter 11 case filed in the District of Connecticut.

• Tufts University, BA, magna cum laude
  Executive Editor, Hemispheres, Tufts Undergraduate Journal of International Affairs; Dean's List
• Loyola University Chicago School of Law, JD, cum laude
  Student Articles Editor, Law Journal; Dean's List; Loyola University Citation of Excellence, 1992; Williams Fellow

• Illinois

• Member, American Bar Association
• Member, Chicago Volunteer Legal Assistance Foundation
• The Caring Place at Loyola, a Ronald McDonald House, Community Board Member
• CYCLE Program, Tutor
• Hospice Legal Assistance Program, Project Coordinator
• •Northwestern University School of Law, Instructor, Introduction to Legal Learning