Clark has a broad creditors' rights and bankruptcy background. He has led the development and is currently the Chair of Maslon's Financial Services Team since moving to Maslon in 1990. He regularly represents indenture trustees and noteholders, debt restructurings, Chapter 11 bankruptcies and liquidations. His representation of indenture trustees during default administration covers TIA-qualified corporate note issuances, municipal bonds and structured finance. He has extensive experience serving on unsecured creditor committees and noteholder committees in Chapter 11 cases on a national basis. In addition to representing Banks and other creditors in loan defaults, he also represents financial institutions in substantial matters involving depository and credit fraud, and in defense of lender liability. He is also experienced in matters arising under the Uniform Commercial Code.
- Financial Services
- Creditors' Rights in Bankruptcy
- Defaulted Loans and Workouts
- Indenture Trustee Representation
- University of Minnesota Law School, Minneapolis, Minnesota,
1984, J.D.
Honors: Magna Cum Laude
Law Review:
Associate Editor, Minnesota Law Review, 1983 - 1984 - St Olaf College, Northfield, Minnesota,
1980, B.A.
Honors: Magna Cum Laude
- Indenture Trustee counsel for $400,000,000 of senior unsecured creditors in the Chapter 11 proceedings of Kaiser Aluminum and Chemical Corporation and affiliates.
- Co-counsel to regional bank defrauded in $22 million check kiting scheme.
- Lender counsel in numerous Minnesota commercial real estate defaults, including office buildings, hotels and motels.
- Indenture trustee counsel for defaulted municipal bonds in several states secured by parking ramps, production facilities, affordable housing projects, aquariums youth detention facilities and other projects.
- Equipment finance company counsel in numerous commercial bankruptcies involving executory contracts, software licensing finance and aircraft leases.
- Representation of lenders as preference and fraudulent conveyance defendants in bankruptcy litigation.
- Debtor's Counsel in $45 million debt restructuring following default and workout negotiations with syndicated loan.
- Indenture Trustee counsel for numerous corporate high yield note defaults since 2000, including:
- American Business Financial Services, Inc.
- Angeion Corporation
- Atlas Air, Inc.
- Bally Total Fitness Corporation
- Delta Air Lines, Inc.
- Detroit Port Development Corporation
- Doral Financial Corporation
- Eagle Food Centers, Inc.
- Fedders North American, Inc.
- Gentek, Inc.
- Interstate Bakeries Corporation
- IWO Holdings, Inc.
- J.L. French Automotive Castings, Inc.
- Metromedia Fiber Network, Inc.
- Minnesota Union Builders Project
- Mountain States Capital, Inc.
- NEON Optica, Inc.
- Newcor, Inc.
- Old UGC, Inc.
- Oregon Coast Aguarium Project
- Partners Mortgage Corporation
- Premium Entertainment Biloxi LLC
- Primus Telecommunications
- Reptron Electronics, Inc.
- River Park Square Project Bond Litigation
- Spectrum Brands
- TransTexas Gas Corporation
- Trenwick Group, Ltd.
- Tri-Union Development Corporation
- United Asia Pacific Corporation
- United GlobalCom
- Unicco Service Company
Extended Bio
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