William P. Wassweiler

Partner
William P. Wassweiler
  • Overview
  • Experience
  • Media & Presentations
  • Professional & Community
2000 IDS Center
80 South 8th Street
Minneapolis, Minnesota 55402
T 612.371.3289
F 612.371.3207
Carmel A. Laney
T 612.371.3556
  • Minnesota
  • U.S. District Court, District of Minnesota
  • U.S. Bankruptcy Court, District of Minnesota

Bill Wassweiler represents indenture trustees, servicers, administrative and collateral agents, financial institutions, and other secured lenders/creditors. His areas of expertise include bankruptcy and workouts, bond defaults, trust instruction proceedings, creditor-rights litigation, real estate litigation, receiverships and foreclosures. Bill regularly argues bankruptcy appeals before U.S. Bankruptcy Appellate Panels and in U.S. appellate courts.

Before earning his J.D., Bill was a certified public accountant for several years at a large international accounting firm. This background gives him in-depth understanding of business operations in general and bank operations in particular. The combination of business and legal perspectives also helps him devise creative ways for clients to meet their goals and objectives.  Prior to joining the firm, Bill served as a law clerk for the Honorable Gregory F. Kishel in the United States Bankruptcy Court for the District of Minnesota.

Awards & Recognition
  • Best Lawyers in America (2011–2015, 2017)
  • Minnesota Super Lawyers (2006–2008, 2011–2016)
Experience

Indenture Trustees, Collateral Agents, DIP Agents and Servicers

  • Represented both first lien agent (under a $250 million prepetition bank facility) and DIP agent in connection with prearranged Chapter 11 restructuring of Warren Resources Inc. and its subsidiaries in the Southern District of Texas
  • Represented second lien agent (under a $250 million prepetition bank facility) in connection with prearranged Chapter 11 restructuring of Atlas Resource Partners, L.P. and its affiliates in the Southern District of New York.
  • Represented both indenture trustee (on behalf of $425 million senior secured noteholders) and DIP agent in connection with a Chapter 11 restructuring of Magnetation, LLC and its affiliates in the District of Minnesota.
  • Represented indenture trustees in numerous trust instruction proceedings venued in Minnesota state court.
  • Represented indenture trustees in bond defaults involving nursing homes, hospitals and other healthcare facilities, charter schools, private colleges, casinos, and mixed-use real estate developments.

Financial Institutions and Other Secured Parties

  • Represented participated group of defendant banks in the $500 million Pearlman Ponzi scheme litigation and related bankruptcy case.
  • Represented lenders in more than ten large real estate development workouts, each in excess of $20 million.
  • Represented the lender in a $5 million asset based lending workout in the packaging industry.
  • Represented the lender in a $5 million check kiting matter in mortgage lending industry.
  • Represented regional bank in a $7 million assisted living facility workout.
  • Represented national bank in a $20 million+ workout involving a real estate development and cash value life insurance trusts.
  • Represented  national banks in multi-million dollar agriculture workouts and Chapter 12 bankruptcy cases venued in Minnesota, North Dakota, South Dakota, Wisconsin and Iowa.
  • Represented regional and national banks and other creditors in receiverships venued in Minnesota and throughout the country.
  • Represented both regional and national banks in SBA workouts.
  • Represented national banks in several multi-million dollar actions involving the enforcement of  interest rate swap agreements.
  • Represented a national bank in multi-million dollar fraud litigation claim involving a USDA guaranty.
  • Routinely represent lead banks and agent banks in workouts involving participated and syndicated loans.
  • Represented secured lenders in several bank stock foreclosure proceedings.
Media & Presentations
News Releases
VIEW ALL
Publications
04.01.13
"Creditors' Rights in Chapter 11 Cases"
Inside the Minds, 2013 Edition
Events
10.18.16
"Banking Case Law and Regulatory Update"
Minnesota CLE, Banking Law Fall Round-Up
04.08.16
"Banking Case Law Update"
Minnesota CLE and the MSBA Banking Law Committee, Banking Law Institute 2016
04.10.15
"Banking Case Law Update"
Minnesota CLE and the MSBA Banking Law Committee, Banking Law Institute 2015
VIEW ALL
Admissions
  • Minnesota
  • U.S. District Court, District of Minnesota
  • U.S. Bankruptcy Court, District of Minnesota
Professional & Community

Memberships

  • American Bar Association, Member
  • Minnesota Society of Certified Public Accountants, Member
  • Bankruptcy Institute Planning Committee, Former Chair
  • Bankruptcy Practice Committee for the District of Minnesota, Former Member
  • Minnesota State Bar Association, Bankruptcy Section, Past President; Pro Bono Committee, Past Chair

Certifications

  • CPA (inactive)

Clerkships

  • United States Bankruptcy Court, District of Minnesota, Honorable Gregory F. Kishel
2000 IDS Center
80 South 8th Street
Minneapolis, Minnesota 55402
T 612.371.3289
F 612.371.3207
Carmel A. Laney
T 612.371.3556
  • William Mitchell College of Law (now Mitchell Hamline School of Law)

    (J.D., magna cum laude, Editor, William Mitchell Law Review, 1992)

  • University of Wisconsin

    (B.B.A., 1985)

  • Minnesota
  • U.S. District Court, District of Minnesota
  • U.S. Bankruptcy Court, District of Minnesota

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