David M. LeMay

Senior Counsel
Norton Rose Fulbright US LLP

New York
United States
T:+1 212 408 5112
New York
United States
T:+1 212 408 5112
David M. LeMay

David M. LeMay


Related services and key industries


David LeMay has practiced in the bankruptcy and insolvency area for nearly 30 years. He also has substantial experience in general corporate, securities and transactional matters. He represents Chapter 11 creditors’ committees, financial institutions, debtors and other parties with interests in bankruptcy and insolvency situations and has deep experience in the restructuring of the obligations of troubled financial guarantee insurance companies.

He has substantial experience in formulating and litigating plans of reorganization, debtor in possession financings, cash collateral orders and stay relief matters, lease and license disputes in bankruptcy cases, and going-out-of-business retail store closing programs. He has handled numerous insolvency matters in retailing, the media industry (publishing, newspapers, film, video, broadcast and cable television, and related technologies) and in the commercial aviation industry. He was recognized in Chambers USA as ”very good at precisely presenting the issues and he is brilliant in court.”

Professional experience

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JD, University of Michigan Law School, 1981
AB, summa cum laude, Dartmouth College, 1978

  • New York State Bar
  • Represented NextEra Energy, Inc., in the Chapter 11 reorganization of Energy Future Holdings Corp.
  • Represented  Arthur J. Gonzalez, the Court-appointed Examiner in the Residential Capital Chapter 11 cases.
  • Represented the creditors committee of Tribune Company.
  • Currently representing numerous account holders, counterparties, and other creditors in the Lehman Brothers bankruptcy cases and related SIPA proceedings.
  • Represented creditors' committees in Parmalat USA Corp., Spiegel, Inc., Metromedia Fiber Network, Inc., Sher Distributing Company, Wallace's Bookstores, Crown Books, Learningsmith, Lauriat's and Golden-Lee Book Distributors cases.
  • Represented account holders with approximately $500 million of exposure in the Refco, Inc. et al. Chapter 11 cases.
  • Represented the ad hoc committee of swap counterparties in the restructuring of the monoline insurance company, ACA Financial Guaranty and represented a major swap counterparty in the 2010 restructuring of Ambac Assurance Corporation.
  • Led our engagement for Royal Bank of Canada in now-concluded litigation with MBIA, Inc. and its affiliates.
  • Represented lenders and potential asset acquirers in the Enron Chapter 11 case.
  • Represented Acme Metals and Continental Airlines as Chapter 11 debtors.
  • Served as principal bankruptcy counsel for Isetan Company Ltd. in the protracted Chapter 11 case of Barney's, Inc.
  • Cited for Bankruptcy and creditor/debtor rights/insolvency and reorganization law, The Best Lawyers in America, 2017 - 2020
  • New York Metro Super Lawyers, Bankruptcy and creditor/debtor rights, Thomson Reuters, 2017 - 2019
  • Chambers USA, Cited annually for bankruptcy and restructuring, Chambers & Partners, 2016
  • Recognized in Legal 500, Financial restructuring, The Legal 500, 2016
  • Co-author, "Think Twice Before Entering into a Pre-Filing Restructuring Support Agreement," International Restructuring NewsWire, Winter 2015
  • "Wisconsin regulator's decision on Ambac illustrates key features of surplus notes as well as challenges faced by policyholders in rehabilitation proceedings," Client Alert, June 20, 2011
  • Co-author, "Special Treatment for Broker-Dealer Customers in the United States," International Restructuring NewsWire, January 2009
  • Co-author, "Recent Decision Puts Added Disclosure Pressure on Unofficial Committees," International Restructuring NewsWire, September 2007
  • Co-author, "BAPCPA: Review and Analysis of Business Bankruptcy Provisions After One Year," Pratt's Journal of Bankruptcy Law, January/February 2007
  • "District Court Decision Negates Bank Guarantees Granted by Fortune 500 Affiliates," Client Alert, November 29, 2004
  • "In re Dynegy Holdings, Heritage Highgate Inc. and Tribune," American Bankruptcy Institute, New York, NY, October 15, 2012
  • "New Perils in Chapter 11: Distressed Investing After Washington Mutual," Chadbourne CLE Seminar, New York, NY, October 20, 2011
  • Past member, Committee on Bankruptcy and Corporate Reorganization of the Association of the Bar of the City of New York