Lawrence A. Larose

Partner
Norton Rose Fulbright US LLP

Lawrence A. Larose

Lawrence A. Larose

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Biography

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. Mr. Larose also represented the City of San Juan, Puerto Rico, contesting the Government Development Bank for Puerto Rico restructuring proposals and currently advises groups of hedge funds investing in municipal securities issued by Puerto Rico, COFINA or other instrumentalities.

In addition, Mr. Larose represents major creditors in out of court restructurings of municipal debt issued by Harrisburg, Pennsylvania; Scranton, Pennsylvania; Woonsocket, Rhode Island, Atlantic City, New Jersey and Hartford, Connecticut.

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 counselling 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 Ambac Assurance Corp., Syncora Guarantee, Inc. and Financial Guaranty Insurance Company.

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.

From 2013 through 2018 The Legal 500 named Mr. Larose as one of the nation's "Leading Lawyers" in the municipal bankruptcy area and rated his team as "Tier 1." In 2018, Mr. Larose was inducted into The Legal 500 Hall of Fame for being consistently recognized as "an elite leading lawyer" by clients and peers.


Professional experience

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

Mr. Larose is admitted to practice in the Supreme Court of the United States, the Southern District of New York and the Eastern District of Michigan. 

  • New York State Bar
  • The Legal 500 United States -- Hall of Fame, The Legal 500, 2018
  • The Legal 500 United States – Leading Lawyer, The Legal 500, 2013 – 2018
  • Outstanding Restructuring Lawyer, Turnarounds & Workouts magazine, 2012
  • 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
  • "How would a Pension Obligation Bond fit into the capital stack?"  RBC Capital Markets conference focusing on the credit fundamentals and uncertainties of Chicago, Chicago, IL, January 24, 2019.
  • "Municipal Finance and Chapter 9 Bankruptcy," video interview with Elizabeth Wiggins of the Federal Judicial Center, Washington, DC, February 7, 2018.
  • "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
  • Member, American Bar Association
  • Member, Association of the Bar of the City of New York
  • Member, New York State Bar Association
  • Director, Friends of the Children New York