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Lawrence A. Larose

Partner

Lawrence A. Larose

New York

T:+1 212 408 1140

Lawrence Larose represents major creditors in literally every major municipal restructuring in recent memory, both in and out of court, including the Chapter 9 cases of Detroit, Michigan and Jefferson County, Alabama, the two largest municipal bankruptcies in US history. In addition, Mr. Larose represents major creditors in currently pending out of court restructurings of municipal debt issued by Harrisburg, Pennsylvania; Scranton, Pennsylvania; and Woonsocket, Rhode Island.

In addition to his prominent municipal restructuring practice, Mr. Larose represents corporate clients in sophisticated in-court and out-of-court restructurings, including mergers and acquisitions and other financial transactions. Much of his experience involves counseling major financial institutions, including investment banks, commercial banks, financial guarantors and insurance companies.

Among his most prominent cases, Mr. Larose was the lead counsel in the restructuring of MBIA Insurance Corp., the largest financial guaranty insurer in the world, and represented parties in the restructuring of Syncora Guarantee, Inc. and Financial Guaranty Insurance Company. Mr. Larose was also lead corporate counsel in the Confederation Life Insurance Company and Mutual Benefit Life Insurance Company cases, the two largest life insurance industry restructurings in US history. He was also chief restructuring counsel to Foster Wheeler Ltd. in one of the nation’s largest out-of-court restructurings.

Mr. Larose has written extensively on the unique legal issues faced in municipal restructurings, including unique issues under Chapter 9 of the Bankruptcy Code, and is a frequent commentator in the press on these issues. In 2013, 2014, 2015, 2016 and 2017 The Legal 500 named Larose as one of the nation’s "Leading Lawyers" in the municipal bankruptcy area and rated his team as "Tier 1."

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  • Education

    JD, magna cum laude, Georgetown University Law Center, 1983
    BA, summa cum laude, Tufts University, 1980

  • Representative experience
    • "Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) Webinar," New York, NY, July 12, 2016
    • "The Future of Municipal Restructurings After Detroit and Jefferson County: A Panel Discussion," New York, NY, February 24, 2015
    • "Puerto Rico's New Public Corporation Debt Enforcement and Recovery Act—Restructuring Legislation for Commonwealth Instrumentalities Webinar," New York, NY, July 28, 2014
  • Admissions
    • New York State Bar
  • Rankings and recognitions
    • The Legal 500 United States – Leading Lawyer, The Legal 500, 2013 – 2018
    • The Legal 500 United States -- Hall of Fame, The Legal 500, 2018
    • Outstanding Restructuring Lawyer, Turnarounds & Workouts magazine, 2012
  • Publications
    • Co-author, "Cities In Distress: Are There True Alternatives To Ch. 9?," Expert Analysis, Law360, July 13, 2018
    • "2015 in Review: Chapter 9," International Restructuring NewsWire, Winter 2016
    • "California Clarifies and Enhances Protection for Municipal General Obligation," International Restructuring NewsWire (Republished in Law360), Fall 2015
    • "Michigan Statutory Lien Bill – A Clarification of Existing Law," The Bond Buyer, October 26, 2015
    • "Learning the Lessons of Chapter 9," The Bond Buyer, September 14, 2015
    • "Federal Court Strikes Down Puerto Rico’s Recovery Act as Unconstitutional," Client Alert, February 11, 2015
    • "In Re City of Detroit:" Nine Lessons for Creditors," Client Alert, December 11, 2014
    • "Puerto Rico Claims Authority to Nonconsensually Restructure Public Corporation Debt," Client Alert, July 7, 2014
    • "State Bankruptcies: Cure-All or Bad Medicine for Muni Market?, Dow Jones Daily Bankruptcy Review, February 9, 2012
    • "Municipal Credit Enhancement: Does It Survive Chapter 9?, New York Law Journal, February 7, 2012
    • "Lessons from the Bench: Drafting Municipal Bond Documents," New York Law Journal, December 9, 2010
  • Memberships and activities
    • Member, American Bar Association
    • Member, Association of the Bar of the City of New York
    • Member, New York State Bar Association
    • Member, New York County Lawyers Association