Patrick J. Trostle

Patrick J. Trostle

  • 212.751.3275
    214.999.1536
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Partner

  • Thompson & Knight LLP
    900 Third Avenue
    20th Floor
    New York, NY 10022-4728 USA
    212.751.3275
    214.999.1536
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Patrick Trostle has more than 20 years of experience advising debtors, bondholders, official and ad hoc creditors’ committees, hedge funds, private equity funds, registered investment advisors, insurance companies, banks, multinational corporations, and energy companies in a wide variety of bankruptcy-related disputes. Clients seek his advice in restructurings and workouts, including cross-border insolvencies; complex trading transactions; high-profile litigation; matters related to derivatives; collateralized debt obligations; credit default swaps; and various other commercial, regulatory, and compliance matters. 

Patrick has extensive experience in high-profile examinations, monitorships, and internal investigations, including leading a team in representing the court-appointed examiner in the Lehman Brothers bankruptcy case. He has served as appellate bankruptcy counsel in several cases before the United States Supreme Court. He has also served as an expert witness on New York law in an Australian insolvency proceeding.

His pro bono work includes the representation of a U.S. charity in an innovative transaction that brought solar energy to Rwanda through the creation of the largest grid-connected solar field in east Africa. The project earned numerous accolades, including recognition from the National Law Journal and the Financial Times.

Experience

  • Represented two hedge funds that hold notes issued in the United States by Anglo Irish Bank, an Irish bank that was nationalized by the Irish government in an action in the United States District Court for the Southern District of New York.  The case involved thelitigation of issues arising under the Foreign Sovereign Immunities Act.
  • Represented five hedge funds as owners of or managers of funds that own securities insured by Ambac Assurance Corporation, one of the largest monoline financial guaranty insurers in the United States, in the rehabilitation proceedings of its segregated account in various Federal and Wisconsin courts.
  • Represented Anton R. Valukas, who was the court-appointed Examiner in the Lehman Brothers bankruptcy and was tasked by the court to investigate a broad range of subjects, including the events that resulted in the commencement of Lehman’s Chapter 11 case.
  • Represented General Motors Corporation in its Chapter 11 bankruptcy proceedings in the United States Bankruptcy Court for the Southern District of New York and in the sale of substantially all of its assets to a newly-formed entity sponsored by the United States Treasury.
  • Served as an expert witness on New York law for administrators in an Australian workout proceeding.
  • Advised hedge fund regarding a Chapter 11 trading order dispute.
  • Represented hedge funds and other bondholders in Cenargo’s cross-border restructuring in U.S./U.K.
  • Advised a bankruptcy-court-appointed foreign representative in cross-border restructuring of Comdisco’s foreign subsidiaries.
  • Advised bondholders in Teleglobe cross-border case.
  • Advised DIP lenders in Levitz and Heating Oil Partners Chapter 11 cases.
  • Advised prepetition lenders in Tweeter and Enesco Chapter 11 cases.
  • Advised official creditors’ committee in Loewen’s Chapter 11 case.
  • Represented NII Holdings regarding its Chapter 11 filing, plan confirmation, and issuance of new securities.
  • Advised nonprofit entities in mortgage-settlement-related litigation.
  • Advised debtor regarding a licensing dispute before the U.S. Supreme Court.
  • Represented hedge funds and other bondholders, and later the official creditors‘ committee, in NRG Energy’s Chapter 11 case.
  • Advised creditor in Vitro SAB’s Mexican insolvency proceeding.
  • Advised aircraft creditors in the Independence Air and Atlas Air Chapter 11 cases.
  • Represented a major U.S. investment bank in disputes with another large financial institution regarding billions of dollars of collateralized debt obligations, swaps, and other derivative transactions.
  • Represented claimant in large cross-border bankruptcy case.
  • Represented a counterparty to a repurchase agreement in Orange County’s chapter 9 bankruptcy case.
  • Represented U.S.-based Agahozo Shalom Youth Village (ASYV) in a complex pro bono transaction that brought solar energy to Rwanda. The team of lawyers won multiple awards in honor of its exemplary work representing ASYV.

Prior Experience

  • Judicial Clerk to the Honorable Francis G. Conrad, U.S. Bankruptcy Court for the Southern District of New York, 1992–1994

Distinctions/Honors

  • New York Metro Super Lawyers® by Thomson Reuters (Bankruptcy & Creditor/Debtor Rights); 2006, 2010-2017
  • Pro Bono Hotlist, National Law Journal; 2015

  • Global Legal Award for Citizenship, The American Lawyer; 2015

  • Standout Award, “North American Innovative Lawyers,” The Financial Times; 2015

  • Anne Heyman Spirit Award, Agahozo-Shalom Youth Village; 2014

  • “Recommended Attorney,” The Legal 500 US by Legalease (Finance – Corporate Restructuring); 2013

Activities (Memberships/Affiliations)

  • Member, American Bar Association; Former Vice Chairman, Business Bankruptcy Trust Indenture Subcommittee
  • Member, American Bankruptcy Institute
  • Chair, Advisory Board, Queen Mary—UNIDROIT Institute of Transnational Commercial Law, Centre for Commercial Law Studies, University of London
  • Member, Advisory Board of the Commercial Law Centre Harris Manchester College, University of Oxford; 2014-present