John R. McDonald

John R. McDonald


Taft Stettinius & Hollister LLP

Recognized since 2013

Minneapolis, Minnesota

Practice Areas

Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law

Send John R. McDonald an email at jmcdonald@taftlaw.com Navigate to map location for John R. McDonald
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Commercial insolvency attorney with over 25 years of experience in (i) bankruptcy, workout and creditors' rights, (ii) distressed M&A, and (iii) business and financial litigation. Broad experience representing virtually all types of interested parties in large bankruptcies, workouts and distressed transactions, as well as in complex insolvency and commercial litigation (including class actions) in both federal and state courts, and before the Judicial Panel on Multidistrict Litigation. Primarily represent secured lenders, but also possess experience representing unsecured creditors, real estate and equipment lessors, insurers, committees, trustees, business debtors, boards of directors, buyers and sellers, indenture trustees and post-confirmation entities.

Current/recent representative engagements include: (i) lender in $115 million workout involving national real estate developer, (ii) administrative agent in $100 million syndicated loan restructuring involving large construction-related company, (iii) lender in workouts aggregating $150 million involving bio-fuel facilities, (iv) several parties in Petters bankruptcy/receivership proceedings involving $3.5 billion Ponzi scheme, (v) national restaurant chain in workout/debt-for-equity swap, (vi) parties in the Lehman, GM and Chrysler bankruptcy cases, (vii) second-lien lender in large automotive-related bankruptcy, (viii) special committee of board of directors in watercraft-related bankruptcy, (ix) national bank in collection action against student loan finance company, and (x) national banks in bankruptcies of several Minnesota-based real estate devlopers.

Location
  • 2200 IDS Center
    80 South Eighth Street
    Minneapolis, MN 55402
Education
  • University of New Hampshire, MA, graduated 1982
  • University of St. Thomas (St. Paul), BA, graduated 1981
Bar Admissions
  • Minnesota, Minnesota State Bar Association
Affiliations
  • American Bankruptcy Institute and Minnesota State Bar Association Bankruptcy Section - Member
  • City of St. Paul Neighborhood Sales Tax Revitalization (STAR) Board (Appointed by St. Paul Mayor Chris Coleman) - Former Board Member
  • Hennepin County, Ramsey County, Minnesota and American Bar Associations - Member
  • Turnaround Management Association Upper Midwest Chapter - Founding Board Member

Recognized in The Best Lawyers in America® 2024 for work in:
  • Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
Awards:
  • Named a "Leading American Attorney" by American Research Corporation
  • Listed in Minnesota Super Lawyers
Additional Areas of Practice:
  • Litigation - Bankruptcy

Cases
Kelly v. Opportunity Finance, LLC
I represent defendant Opportunity Finance, LLC in a $2.2 billion clawback action stemming from the Tom Petters Ponzi scheme. The case is venued in the United States Bankruptcy Court for the District of Minnesota. In connection with this matter I was chosen as one of several lead counsel to argue coordinated motions to dismiss on behalf of several hundred defendants.
In re Sun Country Airlines, Inc.
I represented a scheduled service air carrier in its Chapter 11 reorganization. This was the first airline to file bankruptcy post-9/11. The case resulted in the sale and ultimate survival of the airline. It was an unprecedented transactional structure. Because the market was virtually non-existent soon after 9/11, and the airline was grossly undercapitalized, the debtor actually stipulated to relief from stay and the airline was sold by means of a UCC Article 9 dispostion, the first and only of its kind to this very day involving a scheduled service air carrier.
Transactions
In re Lyman Holding Company
I represented U.S. Bank National Association as agent of a seven bank syndicate in connection with a $100 million loan workout and subsequent bankruptcy involving a large national lumber company. The workout was awarded the 2009 Mid-Size Transaction of the Year by the Turnaround Management Association. In the ensuing Chapter 11, the restructured company was sold in a 363 process resulting in a full payout to the bank group. A plan of liquidation was confirmed to deal with the remaining assets.

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