David G. Heiman, Esq. joins JAMS after more than 35 years of advising clients in business bankruptcy and restructuring. Mr. Heiman founded Jones Day's business restructuring practice in 1984 and has played a key role in many of the largest business bankruptcy and out-of-court restructurings in the United States. His practice included representations of debtors, lenders, creditors and distressed assets purchasers. He also has had extensive experience in a wide array of commercial, financial and lending matters and disputes. He most recently led the City of Detroit chapter 9 bankruptcy case, the largest municipal bankruptcy in U.S. history.
Mr. Heiman is a past chair of the American College of Bankruptcy and has held leadership positions in a number of professional, community and charitable organizations.
ADR Experience and Qualifications
Over almost four decades, Mr. Heiman has developed a track record of successful results through consensus-building in multi-party disputes. Even though most of his engagements have involved hotly contested disputes, he has been able to employ paths of communication that established common ground between opposing parties and generated favorable negotiated settlements.
Specifically, Mr. Heiman has been a mediation party or a mediation professional in some of the largest business restructuring disputes in the U.S.:
- As lead counsel for the City of Detroit in its chapter 9 bankruptcy case, he engaged in mediation efforts with dozens of parties for 16 months on six concurrent but separate mediation fronts, with the result that Detroit emerged from its bankruptcy under a consensual Plan of Arrangement in just over a year and a half.
- Following his representation of Federated Department Stores in its chapter 11 reorganization (then the largest retail bankruptcy in history), he led Federated in its multi-party mediation of disputes arising from Federated’s hostile takeover of R.H. Macy via a Federated-sponsored plan of reorganization.
- He also led USG Corporation’s mediation of more than 300,000 asbestos claims aggregating more than $10 billion, with a settlement ultimately achieved via a consensual plan of reorganization.
- He served as a mediation professional with the Hon. Daniel Weinstein (JAMS) in multi-billion-dollar fraudulent conveyance claims asserted by junior creditors of Adelphia Corporation against hundreds of senior financial institutions. Those claims ultimately were dismissed by a U.S. district court (SDNY).
- He represented the Board of Directors of the Tribune Companies in Tribune’s mediation following a court-appointed examiner’s report finding billions of dollars of colorable fraudulent conveyance claims against senior financial creditors.
- As counsel to Dana Corporation, he mediated to settlement a dispute involving an automobile parts supply contract valued at hundreds of millions of dollars.
Mr. Heiman’s significant representations include:
- Lead Counsel for the City of Detroit in its 2013 municipal bankruptcy action
- Lead counsel for Chrysler LLC in its chapter 11 restructuring and ultimate sale to Fiat
- Advised Lehman Brothers in its litigation against Barclays Capital, Inc. in an attempt to invalidate its sale to Barclays
- Other representative chapter 11 and out-of-court debtor representations:
- Allied Stores/Federated Department Stores (also as acquirer of R.H. Macy)
- Alpha Natural Resources
- NII Holdings (Sprint spin-off)
- Boscov's Department Stores
- Burlington Industries
- Cardinal Industries
- Child World
- Chrysler LLC
- Imperial Home Decor Group
- Kendavis Industries
- LTV Steel
- Oglebay Norton
- Tribune Companies
- USG Corporation
- White Motor
- He represented lenders in the Carmike Cinemas, Olympia & York, and Phar-Mor restructurings and creditors in the Allegheny Health, Education and Research Foundation, Home Place, and Paragon Trade Brands restructurings.
- He has advised acquirers of distressed assets, including Federated Department Stores’ acquisition of R.H.Macy, American Greetings and WL Ross & Co., in the American Home Mortgage, Bethlehem Steel, Collins & Aikman and Horizon National Resources matters.