James Millar is the co-leader of Faegre Drinker’s corporate restructuring team. Jim has more than 25 years of experience advising bondholders, acquirers and other participants in corporate restructuring and bankruptcy litigation. He regularly represents bondholders in Chapter 11 cases, enforcing their rights under bankruptcy law, creditors’ rights law and contract law. Bondholders value his ability to develop novel and effective strategies to pursue their rights against well-funded debtors or other stakeholders elsewhere in the capital structure.
In the Chapter 11 bankruptcy of Caesars Entertainment Corporation, Jim developed and advanced the legal theory under the Trust Indenture Act during his representation of a group of unsecured bondholders. Other law firms subsequently adopted his theory, which heavily influenced the outcome of the case on bondholders’ challenge to Caesar’s attempt to release guarantees of the bonds without their consent. On a related issue in a precedential case, Jim obtained a favorable reversal from the New York Court of Appeals on behalf of certain minority bondholders on a legal issue under an indenture that incorporated the Trust Indenture Act as a matter of contract.