Foley & Lardner LLP

Mark F. Hebbeln

Partner

Mark F. Hebbeln is a partner with Foley & Lardner LLP, and is a member of the firm's Bankruptcy & Business Reorganizations Practice. He concentrates his practice in corporate restructuring, which includes the representation of indenture trustees, creditors' committees, securitization trustees, assignees for the benefit of creditors, and individual creditors in insolvency proceedings in state and federal courts.

Mr. Hebbeln has represented indenture trustees and bondholder interests in national bankruptcy cases, including Trico Marine, Abitibi-Bowater, Extended Stay, Remy International, Bally, ASARCO, United Air Lines, Inc., Atlas Air, Mirant Corporation, Kaiser Aluminum, Pacific Gas and Electric Company, Jacobson Stores, and International Utility Structures, Inc. He has also represented indenture trustee and bondholder interests in health care reorganizations, insolvencies and other proceedings. He has extensive experience in representing securitization trustees in insolvency and bankruptcy proceedings and in representing official creditors' committees in chapter 11 proceedings.

Mr. Hebbeln has written extensively on bankruptcy and insolvency, including articles on indenture trustee and bondholder interests, break-up fees and the automatic stay. He has also presented at several conferences, including the 2002 American Bar Association meeting held in conjunction with the National Conference of Bankruptcy Judges, the 2003, 2006 and 2008 Corporate Reorganizations Conference and the 2005, 2008 and 2010 American Bankers Association Capital Markets Conference. Turnarounds & Workouts recognized him as one of 12 outstanding young restructuring lawyers in the nation in 2005 and as one of 14 outstanding young restructuring lawyers in the nation in 2006. He has been selected for inclusion in the 2008, 2009 and 2010 Illinois Super Lawyers–Rising Stars® Editions for his bankruptcy work.*

Mr. Hebbeln received his J.D. from Emory University School of Law (1997), where he was an articles editor for the Bankruptcy Developments Journal. He received his bachelor's degree, cum laude, in economics and politics from Wake Forest University (B.A., 1993), where he was admitted to the Pi Sigma Alpha (political science) and Omicron Delta Epsilon (economics) national honor societies.

Mr. Hebbeln is admitted to practice in Illinois and Georgia. He is a member of the American Bar Association, the American Bankruptcy Institute, and the Chicago Bar Association. He serves on the Wake Forest University Alumni Council.

Mr. Hebbeln also serves as a member of the editorial board of the American Bankers Association Trust & Investments Magazine.

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

Trico Marine, Abitibi-Bowater, BankUnited, Hartmarx, Extended Stay, Charter Communications, Atrium, Haights Cross, Primus Telecommunications, Simmons Bedding, ASARCO, Bally Total Fitness, Kimball Hill, Remy International, UAL Corp., Northwest Airlines Corp., FLYi, Inc., Mirant Corp., Atlas Air, Kaiser Aluminum, Conseco, Petro-Geo, HealthSouth, Magellan Health Services, NCS Healthcare, Home Products International, Inc., Redback Networks, United Companies Financial, Globe Manufacturing, Pacific Gas & Electric, Jacobson Stores.

Publications:

  • "Safe Harbor Provisions of Bankruptcy Code § 546(e) Broadened to Limit Preference and Fraudulent Conveyance Actions and Recoveries," co-authored with Harold L. Kaplan and Derek L. Wright, Network News Column, October 2012 issue of ABA (American Bankers Association) Trust Letter newsletter.
  • "Annotated Trust Indenture Act," 67 The Business Lawyer 977 (August 2012) (Mr. Hebbeln was co-chair of the American Bar Association committee that drafted the Annotated Trust Indenture Act).
  • "Investor Standing to be Heard: The Innkeepers Decision and Beyond," co-authored with Harold L. Kaplan and Lars A. Peterson, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, May/June 2012.
  • "Recent Bankruptcy Legal Developments," co-authored with Harold L. Kaplan, Network News Column, ABA (American Bankers Association) Trust & Investments, November/December 2011.
  • "Transparency and Protection: Notice and Disclosure Issues for Indenture Trustees: Part 2 of 2," co-authored with Harold L. Kaplan, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, July/August 2011.
  • "Transparency and Protection: Notice and Disclosure Issues for Indenture Trustees: Part 1 of 2," co-authored with Harold L. Kaplan, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, May/June 2011.
  • "The Bank of New England Case and the Rule of Explicitness," co-authored with Harold L. Kaplan, Network News Column, ABA (American Bankers Association) Trust & Investments, January/February 2011.
  • "Chapter 9 Municipal Bankruptcy Primer," co-authored with Harold L. Kaplan, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, November/December 2010.
  • "To Bid or Not to Bid? Gamesmanship in Credit Bidding," co-authored with Harold L. Kaplan, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, September/October 2010.
  • "None Dare Call it Champerty - at Least Not in New York," co-authored with Harold L. Kaplan, Network News Column, ABA (American Bankers Association) Trust & Investments, July/August 2010.
  • "Rule 2019 Flurry Distressing 'Distressed' Investors," co-authored with Harold L. Kaplan, Network News Column, ABA (American Bankers Association) Trust & Investments, March/April 2010.
  • Speaker, "Breaking News from the Trenches," ABA Capital Markets Forum for Corporate Trust Professionals, April 18-20, 2010 (St. Petersburg, Florida).
  • "Tranche Warfare: Leapfrogging Debt Through Exchange Offers," co-authored with Harold L. Kaplan, Corporate Trust Section, ABA (American Bankers Association) Trust & Investments, March/April 2009.
  • "BCE Post-Mortem," co-authored with Harold L. Kaplan, Network News column, ABA (American Bankers Association) Trust & Investments, January/February 2009.
  • "BCE: Bondholder "Oppression Remedies" Under Canadian Law," co-authored with Harold L. Kaplan, Network News column, ABA (American Bankers Association) Trust & Investments, November/December 2008.
  • "Covenants Count: Current CaseLaw," includes News Brief: "Loewen Decision on Trustee Pre-Default Ministerial Conduct," co-authored with Harold L. Kaplan, Network News column, 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 Harold L. Kaplan, 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 Harold L. Kaplan, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, March/April 2008.
  • "Aggressive Enforcement of Indenture Covenants: The No-Action Clause in an Activist World," co-authored with Harold L. Kaplan and Daniel Northrop, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, November/December 2007.
  • "Indenture Trustee Fees and Expenses in Bankruptcy - A Strategic Consideration Update," co-authored with Harold L. Kaplan 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 Harold L. Kaplan 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 Harold L. Kaplan and Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, March/April 2007 (Part I of 2).
  • "Denial of Antitrust Claims Against United EETC Trustees," co-authored with Harold L. Kaplan and Daniel Northrop, Network News column, ABA (American Bankers Association) Trust & Investments, January/February 2006.
  • "The Impact of New Bankruptcy Legislation on Indenture Trustees," co-authored with Harold L. Kaplan and Daniel Northrop, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, July/August 2005.
  • "Indenture Trustees and Lease Recharacterization," co-authored with Tracy L. Treger and Harold L. Kaplan, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, March/April 2005.
  • "Is ‘Lease’ a Financing Agreement in Disguise? Rights of Both Sides Hinge on the Answer," The Journal of Corporate Renewal, July 2004 (with Tracy L. Treger).
  • "Indenture Trustee Fees and Expenses in Bankruptcy: Theory and Practice," co-authored with Harold L. Kaplan, Corporate Trust section, ABA (American Bankers Association) Trust & Investments, May/June 2004.
  • Contributing Author, 2002, Wiley Law Update.
  • "MSRB Proposes Rules for Communicating with Beneficial Owners," co-authored with Harold L. Kaplan, ABA (American Bankers Association) Trust & Investments, May/June 2001.
  • "Saga Continues in Eastern Case," co-authored with Harold L. Kaplan, ABA (American Bankers Association) Trust & Investments, May/June 2001
  • "Prepetition Waivers of the Automatic Stay in Bankruptcy: The Economic Case for Nonenforcement," 115 Banking L.J. 126, February 1998.
  • "The Economic Case for Judicial Deference to Break-Up Fee Agreements in Bankruptcy," 13 Bankr. Dev. J. 475, Spring 1997.

*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.

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