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Clark T. Whitmore 
Partner

p 612.672.8335
f612.642.8335
clark.whitmore@maslon.com

3300 Wells Fargo Center
90 South Seventh Street
Minneapolis, MN 55402

Clark Whitmore has a broad creditors' rights and bankruptcy background. He led the development of and currently serves as Chair of Maslon's Financial Services Group. 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.

Areas of Practice
  • Financial Services
  • Indenture Trustee Representation
  • Creditors' Rights in Bankruptcy
  • Defaulted Loans and Workouts
Education
  • University of Minnesota Law School, Minneapolis, Minnesota, 1984
    J.D.
    Honors: magna cum laude
    Law Review: Minnesota Law Review, Associate Editor, 1983 - 1984
  • St Olaf College, Northfield, Minnesota, 1980
    B.A.
    Honors: magna cum laude
Bar Admissions
  • Minnesota, 1987
  • Oregon, 1984
  • U.S. District Court District of Oregon, 1984
  • U.S. District Court District of Minnesota, 1987
Professional Associations and Memberships
  • American Bar Association - Member
  • Minnesota State Bar Association - Member; Bankruptcy Section, Member
  • Hennepin County Bar Association - Member
  • Meritas, Creditors' Rights and Bankruptcy Section - Member, Co-Chair, since 2001
Classes Taught
  • “Selling Your Collateral in Chapter 11 Bankruptcy: Section 363’s Faster, Cheaper Approach is at Risk”, Maslon Speaker Series, 2009
  • “Second Lien Lending”, Bankruptcy Institute, Minnesota CLE, 2007
  • “Loan Workout and Collateral Liquidation in Minnesota”, Lorman Education Services, 2002 - 2004
  • “Drafting Chapter 11 Plans of Reorganization”, Bankruptcy Institute, Minnesota CLE, 2002
  • “Business Financing”, Minnesota Institute of Legal Education, 1999
Honors and Awards
  • Recognized on Minnesota Super Lawyers® list, 2003 - 2008, 2011 (Minnesota Super Lawyers® is a designation given to only 5 percent of Minnesota attorneys each year.)
  • AV Rating, Martindale-Hubbell (AV, BV, and CV are registered certification marks of Reed Elsevier Properties, Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies)

Experience

  • Indenture trustee counsel for $400 million 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.
  • Chapter 11 indenture trustee counsel for numerous TIA note issuances 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
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Maslon Edelman Borman & Brand, LLP  | 3300 Wells Fargo Center | 90 South Seventh Street | Minneapolis, MN 55402-4140 | p 612.672.8200