Mark Rasmussen joined the firm in 1997 and is a partner in the Special Litigation, Bankruptcy and Workouts Group. Prior to joining Chapman and Cutler LLP, he spent five years practicing in the area of commercial litigation where he participated in cases in both state and federal courts.
Mr. Rasmussen's broad base of experience includes the representation of commercial lenders, institutional investors, indenture trustees, shareholder and bondholder constituencies, creditors, and unsecured creditor committees in bankruptcy proceedings and ancillary commercial litigation. Mr. Rasmussen has handled or participated in a wide variety of matters involving such issues as negotiating cash collateral and debtor-in-possession (DIP) financing agreements and orders, collateral disposition (including aircraft disposition and foreclosures as well as section 363 asset sales), indenture trustee/mortgagee rights and obligations under trust indentures and mortgage agreements, second lien financing/intercreditor agreement issues, plan confirmation and related settlement negotiations, refinancings, defaulted securities, debt restructurings, business reorganizations, and workouts.
Mr. Rasmussen further has litigation experience in matters involving fraudulent transfers and preferences, equitable subordination, enforcement of contract rights, security interests and liens, adversary proceedings and lien challenges, third-party discovery matters, and bankruptcy and state-law rights and remedies.
In 2007, Mr. Rasmussen was named one of the “40 Illinois Attorneys Under Forty to Watch” by the Law Bulletin Publishing Company, publisher of the Chicago Lawyer and the Chicago Daily Law Bulletin.
Representative engagements include:
Represented secured bank lender syndicate, individual bank lenders, synthetic lessors or trade creditors in the following chapter 11 bankruptcy cases:
- In re Ward Products, LLC, No. 06-50527, U.S. Bankruptcy Court, E.D. Michigan - secured lender with $7 million of outstanding pre-petition loan obligations
- In re Atchison Casting Corp., et al., No. 03-50965, U.S. Bankruptcy Court, W.D. Missouri - agent bank for secured lender syndicate (and DIP lenders) with $60 million of outstanding pre-petition loan obligations
- In re Kmart Corp. et al., No. 02-B-02474, U.S. Bankruptcy Court, N.D. Illinois - unsecured pre-petition bank lender
- In re Hayes Lemmerz Int'l, Inc. et al., No. 01-11490 (MFW) U.S. Bankruptcy Court, D. Delaware - Synthetic lessor/bank lender under synthetic lease of real property with $37 million of outstanding pre-petition lease/loan obligations
- In re Nanovation Technologies, Inc., No. 01-26090, U.S. Bankruptcy Court, N.D. Illinois - trade creditor
- In re Anicom, Inc., et al., No. 01-B-00485, U.S. Bankruptcy Court, N.D. Illinois - agent bank for secured lender syndicate with $100 million of outstanding pre-petition loan obligations
- In re Fountainview, Inc., No. LA 01-39678BB, U.S. Bankruptcy Court, C.D. California - agent bank for pre-petition secured lender syndicate
- In re MBC Greenhouse Co. et al. (Foster & Gallagher, Inc.), No. 01-2175, U.S. Bankruptcy Court, D. Delaware - agent bank for secured lender syndicate involving $32 million of outstanding pre-petition loan obligations
- In re Deluxe Craft Manufacturing Co., No. 01-B-21809, U.S. Bankruptcy Court, N.D. Illinois - secured lender (and DIP lender) with $5 million of outstanding pre-petition loan obligations
- In re American Crop Services, Inc., No. 00-10366-H, U.S. Bankruptcy Court, W. D. Tennessee - agent bank for secured lender syndicate with $28 million of outstanding pre-petition loan obligations
Represented corporate or indenture trustees on behalf of noteholder constituencies, institutional investors, shareholders, or noteholders in matters involving the following Chapter 11 bankruptcy cases, litigation or workouts:
- In re United Airlines, Inc., et al., No. 02-B-48191, U.S. Bankruptcy Court N.D. Illinois - Participated in Firm’s representation of over 100 institutional investors who collectively had controlling positions in public debt securities collateralized by 175 aircraft (about 40% of United's fleet) and over $12 billion of contractual cash flow obligations; further participated in foreclosure and transfer of 35 aircraft generating over $635 million of gross sales proceeds and in foreclosures and restructuring of 26 aircraft in 11 financing transactions for aircraft remaining in United’s fleet.
- In re Heating Oil Partners, L.P., et al., No. 05-51271, U.S. Bankruptcy Court, D. Connecticut - counsel to institutional noteholders holding $50 million of senior secured notes prior to bankruptcy filing.
- Counsel to institutional noteholders holding $100 million of senior secured notes in 2005-2006 restructuring of Fortune 500 company debt
- In re Commercial Financial Services, Inc. (CFS), No. 99-05162-R, U.S. Bankruptcy Court, N.D. Oklahoma - represented trustee and back-up servicer for holders of $450 million of securitized trust-issued notes
- In re Creditrust Corp., No 00-5-7812-JS, U.S. Bankruptcy Court, D. Maryland - represented trustee and back-up servicer for holders of over $100 million of securitized trust-issued notes
- In re Marvel Entertainment Group, Inc., No. 97-638-RRM U.S. District Court, D. Delaware - represented indenture trustee for approximately $900 million of face amount of public corporate bonds in bankruptcy proceedings and further represented such interests in Federal District Court litigation against former controlling shareholders
- Continental Casualty Co. v. Commonwealth Edison Co., No. 11-1265 (Ill. App. Ct.) - represented institutional preferred stockholders in successful defense of appeal of judgment awarding them damages for wrongful redemption of preferred stock
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