Akin Gump, Sean O’Donnell Featured in NLJ’s “Winning Litigators”
(New York) – For its annual special section “Winning: Profiles of Successful Attorneys and Their Strategies,” The National Law Journal selected Akin Gump and, in particular, litigation partner Sean O’Donnell for recognition.
Focusing on Mr. O’Donnell’s work on behalf of Marblegate Asset Assessment LLC and Magnolia Road Capital L.P., NLJ noted how, when Education Management Corp. (EDMC) announced its plans to force bondholders to accept a $1.5 billion out-of-court restructuring, he stepped up for the clients and cited in their defense the Trust Indenture Act of 1939, which safeguards the interest of minority bondholders, among other “investors in notes, bonds, debentures…which are offered to the public.”
As the NLJ profile notes, “Few courts had interpreted the provision at issue. He argued his clients were being robbed of repayment rights under the statute.”
Following Mr. O’Donnell’s innovative and compelling representation and a preliminary ruling by the court holding that Magnolia and Marblegate were likely to succeed on the theory that the restructuring would violate the law, EDMC modified the restructuring. Magnolia then settled, and Marblegate continued, winning at trial in a New York federal district court. The matter is currently pending appeal.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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