William P. Wassweiler

Partner

wassweilerw@ballardspahr.com
Tel 612.371.3289
Fax 612.371.3207
Minneapolis

Bill Wassweiler represents financial institutions serving as corporate trustees involving municipal and corporate bonds, as well as corporate trustees, master servicers, special servicers, paying agents and trustee agents involving mortgage-backed securities, and other secured lenders and creditors. His areas of focus include financial, corporate trust, and structured products litigation as well as bankruptcy and workouts, bond defaults, trust instruction proceedings, creditor-rights litigation, real estate litigation, receiverships, and foreclosures.

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 helps him devise creative ways for clients to meet their objectives.

Judicial Clerkship

Hon. Gregory F. Kishel, U.S. Bankruptcy Court for the District of Minnesota

Representative Experience

Corporate Trustees, Master Servicers, Special Servicers, Paying Agents, Trustee Agents, Collateral Agents, and Debtor-in-Possession (DIP) Agents

  • Representation of bond trustee in the Verity Health Systems (a California hospital system) Chapter 11 bankruptcy case venued in the Central District of California, with respect to bond obligations in excess of $300 million
  • Representation of protection buyers in disputes involving credit default swaps
  • Representation of both master trustee and bond trustee in litigation involving airplane securitization
  • Representation of both first lien agent (under a $250 million prepetition bank facility) and DIP agent in prearranged Chapter 11 restructuring of Warren Resources, Inc., and its subsidiaries in the Southern District of Texas
  • Representation of second lien agent (under a $250 million prepetition bank facility) in prearranged Chapter 11 restructuring of Atlas Resource Partners, L.P., and its affiliates in the Southern District of New York
  • Representation of both corporate trustee (on behalf of $425 million senior secured noteholders) and DIP agent in a Chapter 11 restructuring of Magnetation, LLC, and its affiliates in the District of Minnesota
  • Representation of corporate trustees involving municipal and corporate bonds and mortgage-backed securities in numerous trust instruction proceedings venued in Minnesota state court
  • Representation of corporate 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

  • Representation of administrative agent bank (on behalf of itself and other prepetition senior lenders) in the WYNIT Distribution, LLC bankruptcy case venued in the District of Minnesota
  • Representation of secured lender bank in the Gander Mountain Company Chapter 11 bankruptcy case venued in the District of Minnesota
  • Representation of national banks in multi-million-dollar agriculture workouts and Chapter 12 bankruptcy cases venued in Minnesota, North Dakota, South Dakota, Wisconsin, and Iowa, involving grain, cattle, dairy and hog operations
  • Representation of lenders in more than 10 real estate development workouts, each in excess of $20 million
  • Representation of regional and national banks and other creditors in receiverships venued in Minnesota and throughout the country
  • Representation of participated group of defendant banks in the $500 million Pearlman Ponzi scheme litigation and related bankruptcy case
  • Representation of national banks in several multi-million-dollar actions involving the enforcement of interest rate swap agreements
  • Representation of protection buyer in a multi-million-dollar action involving a credit default swap
  • Representation of 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
  • Representation of secured lenders in several bank stock foreclosure proceedings

Professional Activities

American Bar Association

Minnesota Society of Certified Public Accountants

Bankruptcy Institute Planning Committee, past Chair

Bankruptcy Practice Committee for the District of Minnesota, past member

Minnesota State Bar Association, Bankruptcy Section, Past President; Pro Bono Committee, Past Chair

Awards and Recognitions

The Legal 500 US, Restructuring (including bankruptcy) - municipal, 2019

The Best Lawyers in America, bankruptcy and creditor-debtor rights/insolvency and reorganization law, 2011-2015, 2017-2020

Minnesota Super Lawyers, 2006-2008, 2011-2017

Publications

"Creditors' Rights in Chapter 11 Cases," Inside the Minds, 2013 Edition, April 1, 2013

Adjunct Professor and Speaking Engagements

Adjunct Professor, Hamline University MBA Program, Business Law and Ethics, 2017-present

"Trustee and Trustee's Counsel," 2019 The Workshop, National Association of Bond Lawyers

"Banking Law Case Update," 2017-2019 Banking Law Institute, Minnesota CLE

"Banking Case Law and Regulatory Update," Minnesota CLE, Banking Law Fall Round-Up, October 18, 2016

2016 Advanced Lending Seminar, Complimentary Seminar, April 21, 2016

"Banking Case Law Update," Minnesota CLE and the MSBA Banking Law Committee, Banking Law Institute 2016, April 8, 2016

"Banking Case Law Update," Minnesota CLE and the MSBA Banking Law Committee, Banking Law Institute 2015, April 10, 2015

Lindquist & Vennum 7th Annual Advanced Lending Seminar, Complimentary Seminar, April 24, 2014

"Troubled Debt Restructuring (TDR) Transactions, Loan Modifications, Short Sale Procedures," National Business Institute Boot Camp: Foreclosure and Loan Workout Procedures, June 16, 2011

"Receivership and Assignment for Benefit of Creditors Presentation," Bankruptcy Institute, 2007

"Identifying Fraudulent Conveyances," National Business Institute, Collections: Seeking and Collecting on a Judgment, 2012

"Analyzing Financial Statements, Identifying Fraud," National Business Institute, Accounting 101 for Attorneys, 2010

"Fight or Flight: Tips on How to Avoid Panic When Bankruptcy Hits Your Lawsuit," Federal Bar Association Seminar, 2008

"Successfully Collecting Judgments," National Business Institute, Tips and Strategies to Legally Get What You’re Owed, 2007

"Collecting the Judgment," National Business Institute, Collection Law From Start to Finish, 2006

"Successfully Collecting Judgments," National Business Institute, Successfully Collecting Debts and Judgments, 2006

William Mitchell College of Law (now Mitchell Hamline School of Law) (J.D., magna cum laude, 1992)
Editor, William Mitchell Law Review

University of Wisconsin (B.B.A. 1985)

Minnesota

U.S. District Court for the District of Minnesota

U.S. Bankruptcy Court for the District of Minnesota

U.S. District Court for the Eastern District of Wisconsin