Kaplan, Harold L.

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Updated 10/8/2009
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Foley & Lardner LLP

321 North Clark
Suite 2800

Chicago, IL 60654

Phone: (312) 832-4393

Fax: 312-832-4700

Contact Us

Websites associated with this firm:http://www.foley.com

Summary

Current Employment Position(s)

Partner

Lawyer Overview

Harold L. Kaplan is a partner with Foley & Lardner LLP. He, among other things, is the leader of the firm's Corporate Trust and Bondholders Rights Team and is a member of the firm's Bankruptcy & Business Reorganizations Practice. Over the last three decades, Mr. Kaplan has represented financial institutions, debtors, trustees under the Bankruptcy Code and the Securities Investors Protection Act, foreign liquidators in ancillary proceedings, creditors committees, and other creditor groups, including representing indenture trustees and bondholder interests.

In addition to more traditional areas of practice, he has extensive experience in claims trading and regulated industry matters, including railroad, airline and other transportation reorganizations; utility industry matters; securities industry and broker-dealer matters; insurance and bank insolvencies; telecommunications, gaming, oil and gas and mining proceedings; and health care industry matters, including health care finance, reorganizations, insolvencies, and other proceedings.

Mr. Kaplan was named one of 12 outstanding bankruptcy lawyers in the country in 2005, 2004 and 2003, and one of 13 in 2001, by Turnarounds & Workouts magazine. He is recognized as one of Chambers USA's 2006, 2007, 2008 and 2009 "Leaders in their Field" for bankruptcy. Mr. Kaplan was selected for inclusion in the 2010 edition of The Best Lawyers in America in the specialties of bankruptcy and creditor-debtor rights law and corporate law.

Mr. Kaplan has authored numerous articles and spoken on transactional, bondholder/corporate trust, health care and bankruptcy topics. He is a member of the American Bankruptcy Institute, where he is a contributing editor to the ABI Journal's "Intensive Care" column on health care related issues. He has been a presenter at numerous conferences on corporate reorganization, distressed debt, distressed real estate, health care financing and bond default, and chairs the Annual Corporate Reorganizations Conference held in Chicago. He is a past chair of the Chicago Bar Association Bankruptcy and Reorganization Committee; chair of the American Bar Association Health Care-Related and Not-for-Profit Bankruptcy Issues Subcommittee; and chair of the American Bar Association Committee on Trust Indentures and Indenture Trustees, as well as serving on several related committees, including the advisory drafting group of the Subcommittee on Revision of the Model Simplified Indenture. He is also a member of the editorial board of the American Bankers Association Trust and Investments magazine, and was a member of the editorial board of Network News, a publication for corporate trustees. He recently served as an original member of the Cornerstone Council, an advisory group that makes recommendations to the Turnaround Management Association (TMA) Management Committee on the uses of Cornerstone 15 funds for academic research.

Mr. Kaplan received his law degree from the University of Chicago Law School (J.D. 1975). He is a graduate of the University of Wisconsin (M.A. 1975, B.A. 1972).

Mr. Kaplan is admitted to practice in Illinois and New York and has appeared in courts and cases throughout the United States.

Previous and Current Representative Major Bond/Indenture Trustee/Creditor Cases:

ASARCO, AbitibiBowater, Aleris International, Bally Total Fitness, Charter Communications, Primus Telecommunications, Simmons Bedding, Extended Stay America, Hartmarx, HRP Myrtle Beach Holdings LLC, Kimball Hill, Remy International, UAL Corp., Northwest Airlines Corp., FLYi, Inc., Mirant Corp., Loral Orion, USGen New England, Atlas Air, Tower Automotive, WHX Corp., Kaiser Aluminum, Conseco, Petro-Geo, HealthSouth, Magellan Health Services, NCS Healthcare, AHERF, Home Products International, Inc., Fleming, Kmart, Redback Networks, USN Communications, Favorite Brands, Southern Mineral, United Companies Financial, ContiFinancial, Sunterra, Crown Vantage, Kitty Hawk, Safety-Kleen, Reliant Building Products, Wheeling-Pittsburgh, Metal Management, Armstrong World Industries, Outboard Marine, Loewen Group, Globe Manufacturing, Pacific Gas & Electric, AMRESCO, Goss Holdings, Thermadyne Holdings, Jacobson Stores, Farmland Industries, Hunt International Resources, Sunshine Mining, Eastern Air Lines, Telemundo, Bally's Grand, Wedtech, Manville Forest Products, Venture Stores, Rock Island Railroad, Milwaukee Road, and WPPSS.

Recent publications and speaking engagements from 2006 to present (partial list):

  • Speaker, "Maximizing Profits in the Distressed Debt Market," 16th Annual Distressed Investing Conference, upcoming November 30, 2009 (New York).
  • "Trustee Lessons From the United Kingdom: The SIV Cases," co-authored with Daniel R. Fisher, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, July/August 2009.
  • "The Opportunity and "Duty" to Restructure Nonprofit Health Care Debt," co-authored with Anu R. Singh, ABI (American Bankruptcy Institute) Journal, Intensive Care, June 2009.
  • "Tranche Warfare: Leapfrogging Debt Through Exchange Offers," co-authored with Mark F. Hebbeln, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, March/April 2009.
  • "BCE Post-Mortem," co-authored with Mark F. Hebbeln, Network News column, ABA (American Bankers Association) Trust & Investments, January/February 2009.
  • "BCE: Bondholder Oppression Remedies' Under Canadian Law," co-authored with Mark F. Hebbeln, Network News column, ABA (American Bankers Association) Trust & Investments, November/December 2008.
  • "Covenants Count: Current CaseLaw," co-authored with Mark F. Hebbeln, Network News column, ABA (American Bankers Association) Trust & Investments, September/October 2008.
  • "News Brief: Loewen Decision on Trustee Pre-Default Ministerial Conduct," co-authored with Mark F. Hebbeln, Network News column, ABA (American Bankers Association) Trust & Investments, September/October 2008.
  • "Trusting Trust Accounts -- Comparative Safeguards of Customer Accounts," Corporate Trust section, ABA (American Bankers Association) Trust & Investments, September/October 2008.
  • "Doing Well by Doing Right: The Ethical-Legal Challenge of the Indenture Trustee in an Activist World," co-authored with Mark F. Hebbeln, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, July-August 2008.
  • "Keeping a Level Playing Field: The Evolution of Discriminatory Consent Solicitations and Exchange Offers," co-authored with Mark F. Hebbeln, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, March/April 2008.
  • "The Evolving Standards For the Appointment of a Patient Care Ombudsman: Section 333 in "Operation"," co-authored with Samuel R. Maizel, ABI (American Bankruptcy Institute) Journal, Intensive Care, March 2008.
  • "Recent Developments Possibly Putting Investor Privacy and Purchased Debt Claims at Risk," co-authored with Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, January/February 2008.
  • "Aggressive Enforcement of Indenture Covenants: The No-Action Clause in an Activist World," co-authored with Mark F. Hebbeln and Daniel Northrop, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, November/December 2007.
  • "Indenture Trustee Role and Obligation in Settlements Affecting Bondholder Rights: The Kenton County Bonds/Delta Air Lines Case," co-authored with Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, November/December 2007.
  • "Recoupment in Health Care Bankruptcies: A Shrinking Issue?," co-authored with Timothy R. Casey, ABI (American Bankruptcy Institute) Journal, Intensive Care, October 2007.
  • "Grand Old Trustee Standard of Care Cases Draw to a Close Bluebird, Semi-Tech, Holmes Harbor," co-authored with Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, September/October 2007.
  • "Indenture Trustee Fees and Expenses in Bankruptcy - A Strategic Consideration Update," co-authored with Mark F. Hebbeln and Daniel Northrop, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, May/June 2007.
  • "Update on Trustee Litigation in the United Airlines Case: Lease Recharacterization," co-authored with Mark F. Hebbeln and Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, May/June 2007 (Part 2 of 2).
  • "Update on Trustee Litigation in the United Airlines Case: Lease Recharacterization," co-authored with Mark F. Hebbeln and Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, March/April 2007 (Part 1 of 2).
  •   Speaker, "Recent Developments in Corporate Trust--Litigation and Defaults," The Fiduciary and Investment Risk Management Association, Inc. Corporate Trust Senior Managers Forum, February 27, 2007 (Ponte Vedra Beach, Florida).
  • "Reading Indentures Strictly: The Rise of Delayed SEC Filing Defaults and Aggressive Bondholders," co-authored with Daniel Northrop, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, January/February 2007.
  • "Putting New Bankruptcy Code Information-Sharing Provisions Into Practice: Creditors' Committee Protocols," co-authored with Daniel Northrop, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, November/December 2006.
  • "Update on NOL Trading Orders and Trading Wall Orders," co-authored with Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, November/December 2006.
  • Co-Chair of Conference, Renaissance American Management, Inc. & Beard Group, Ninth Annual Conference on Corporate Reorganizations, June 22-23, 2006 (Chicago, Illinois).
  • "Hospitals Face New Financial Threat of Charity Care Legislation," co-authored with Linda S. Moroney, ABI (American Bankruptcy Institute) Journal, Intensive Care, June 2006.
  • "Denial of Antitrust Claims Against United EETC Trustees," co-authored with Mark F. Hebbeln and Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, January/February 2006.
  • Speaker, "Recent Developments in Corporate Trust--Litigation and Defaults," The Fiduciary and Investment Risk Management Association, Inc. Corporate Trust Senior Managers Forum, January 19, 2006 (Ponte Vedra Beach, Florida).
  • "BAPCPA: Health Care Lenders Beware?," ABI (American Bankruptcy Institute) Journal, December/January 2006.

    Publications and speaking engagements before 2006 are available upon request.

    Recent honors (partial list):

  • Chair of Gardner Carton & Douglas (2004-2006); Co-Chair of Corporate Restructuring Group (1999-2007).
  • Named to List of 12 Outstanding Bankruptcy Lawyers for 2005, Turnarounds & Workouts, December 15, 2005
  • Named to List of 12 Outstanding Bankruptcy Lawyers for 2004, Turnarounds & Workouts, December 15, 2004
  • Named to List of 12 Outstanding Bankruptcy Lawyers for 2003, Turnarounds & Workouts, December 15, 2003
  • Named to List of 13 Outstanding Bankruptcy Lawyers for 2001, Turnarounds & Workouts, December 15, 2001
  • ABI (American Bankruptcy Institute) Journal, Contributing Editor, "Intensive Care" Column (2004-present)
  • American Bar Association Healthcare-Related and Not-for-Profit Bankruptcy Issues Working Group, Chair (2000-present)
  • American Bar Association Health Care-Related Insolvency Working Group, Vice-Chair (1998 -2000)
  • American Bar Association Committee on Trust Indentures and Indenture Trustees, Vice Chair (2006-present) and former Membership Chair
  • American Bar Association Subcommittee on Revision of the Model Simplified Indenture, Advisory Drafting Group Member (Revised Model Simplified Indenture Published in 2000)
  • American Bankers Association, Trust & Investments, Editorial Board (2000-present)
  • American Bankers Association Network News, Editorial Board (1998-1999)
  • Chicago Bar Association, Bankruptcy & Reorganization Committee, Chair (2002-2003)
  • Chicago Bar Association, Bankruptcy & Reorganization Committee, Vice Chair (2001-2002)
  • Chicago Bar Association, Bankruptcy & Reorganization Committee, Educational Chair (2000-2001)
  • Chicago Bar Association, Large Law Firm Committee, Co-Chair (2005-present)
  • Annual Renaissance American Management, Inc. & Beard Group Corporate Reorganization Conference (Chicago), Chair (1998-present)
  • Annual Renaissance American Management, Inc. & Beard Group Healthcare Restructuring/Transactions Conference (Chicago), Chair and Sponsor (2000-present)
  • Faculty, Cannon Banking Institute (1999)
  • Turnaround Management Association, Cornerstone Council 15 Member (2004-2008)

    *The Illinois Supreme Court does not recognize certifications of specialties in the practice of law and no award or recognition is a requirement to practice law in Illinois.

     

    • Areas of Practice

    • Corporate & Securities
    • Corporate Restructuring
    Next: Qualifications

    Qualifications

    Bar Admissions

    • Illinois
    • New York

    Honors and Awards

    • Named to List of 12 Outstanding Bankruptcy Lawyers for 2005, Turnarounds & Workouts
    • Named to List of 12 Outstanding Bankruptcy Lawyers for 2004, Turnarounds & Workouts
    • Named to List of 12 Outstanding Bankruptcy Lawyers for 2003, Turnarounds & Workouts
    • Named to List of 13 Outstanding Bankruptcy Lawyers for 2001, Turnarounds & Workouts

    Classes and Seminars

    • Speaker, "Recent Developments in Corporate Trust--Litigation and Defaults," The Fiduciary and Investment Risk Management Association, Inc. Corporate Trust Senior Managers Forum, (Ponte Vedra Beach, Florida).
    • Co-Chair of Conference, Renaissance American Management, Inc. & Beard Group, Ninth Annual Conference on Corporate Reorganizations, (Chicago, Illinois)., June 22, 2006 - June 23, 2006
    • Speaker, "Recent Developments in Corporate Trust--Litigation and Defaults," The Fiduciary and Investment Risk Management Association, Inc. Corporate Trust Senior Managers Forum, (Ponte Vedra Beach, Florida).

    Education

    • University of Chicago Law School, Chicago, Illinois, 1975
      J.D., Doctor of Jurisprudence
    • University of Wisconsin, Madison, Wisconsin, 1975
      M.A., Master of Arts
    • University of Wisconsin, Madison, Wisconsin, 1972
      B.A.
    Prev: SummaryNext: Articles

    Articles

    Published Works

    • "Covenants Count: Current CaseLaw", Network News column, ABA (American Bankers Association) Trust & Investments, September/October, 2008
    • "News Brief: Loewen Decision on Trustee Pre-Default Ministerial Conduct", Network News column, ABA (American Bankers Association) Trust & Investments, September/October, 2008
    • "Trusting Trust Accounts -- Comparative Safeguards of Customer Accounts", Corporate Trust section, ABA (American Bankers Association) Trust & Investments, September/October, 2008
    • "Doing Well by Doing Right: The Ethical-Legal Challenge of the Indenture Trustee in an Activist World", Corporate Trust section, ABA (American Bankers Association) Trust & Investments, July-August, 2008
    • "Keeping a Level Playing Field: The Evolution of Discriminatory Consent Solicitations and Exchange Offers", Corporate Trust section, ABA (American Bankers Association) Trust & Investments, March/April, 2008
    • "The Evolving Standards For the Appointment of a Patient Care Ombudsman: Section 333 in "Operation", ABI (American Bankruptcy Institute) Journal, Intensive Care, March, 2008
    • "Recent Developments Possibly Putting Investor Privacy and Purchased Debt Claims at Risk", Network News column, ABA (American Bankers Association) Trust & Investments, January/February, 2008
    • "Aggressive Enforcement of Indenture Covenants: The No-Action Clause in an Activist World", Corporate Trust section, ABA (American Bankers Association) Trust & Investments, November/December, 2007
    • "Indenture Trustee Role and Obligation in Settlements Affecting Bondholder Rights: The Kenton County Bonds/Delta Air Lines Case", Network News column, ABA (American Bankers Association) Trust & Investments, November/December, 2007
    • "Recoupment in Health Care Bankruptcies: A Shrinking Issue?", ABI (American Bankruptcy Institute) Journal, Intensive Care, October, 2007
    • "Grand Old Trustee Standard of Care Cases Draw to a Close Bluebird, Semi-Tech, Holmes Harbor", Network News column, ABA (American Bankers Association) Trust & Investments, September/October, 2007
    • "Indenture Trustee Fees and Expenses in Bankruptcy - A Strategic Consideration Update", Corporate Trust section, ABA (American Bankers Association) Trust & Investments, May/June, 2007
    • "Update on Trustee Litigation in the United Airlines Case: Lease Recharacterization", Network News column, ABA (American Bankers Association) Trust & Investments, May/June, 2007
    • "Update on Trustee Litigation in the United Airlines Case: Lease Recharacterization", Network News column, ABA (American Bankers Association) Trust & Investments, March/April, 2007
    • "Reading Indentures Strictly: The Rise of Delayed SEC Filing Defaults and Aggressive Bondholders", Corporate Trust section, ABA (American Bankers Association) Trust & Investments, January/February, 2007
    • "Putting New Bankruptcy Code Information-Sharing Provisions Into Practice: Creditors' Committee Protocols", Corporate Trust section, ABA (American Bankers Association) Trust & Investments, November/December, 2006
    • "Update on NOL Trading Orders and Trading Wall Orders", Network News column, ABA (American Bankers Association) Trust & Investments, November/December, 2006
    • "Hospitals Face New Financial Threat of Charity Care Legislation", ABI (American Bankruptcy Institute) Journal, Intensive Care, June, 2006
    • "Denial of Antitrust Claims Against United EETC Trustees", Network News column, ABA (American Bankers Association) Trust & Investments, January/February, 2006
    • "BAPCPA: Health Care Lenders Beware?", ABI (American Bankruptcy Institute) Journal, December/January, 2006
    Prev: QualificationsNext: Office Info

    Office Information

    Address

    321 North Clark
    Suite 2800
    Chicago, IL 60654

    Phones

    (312) 832-4393

    Faxes

    312-832-4700

    Emails

    Contact Us

    Websites

    http://www.foley.com

    Prev: Articles

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