For Mayer Brown global restructuring debtor practice lead Louis Chiappetta, the successful emergence of GWG Holdings from Chapter 11 meant more than a successful client outcome, the resolution of $2.1 billion in debt and the end of a tumultuous 16-month process that saw the debtor’s entire board of directors quit amid a Securities and Exchange Commission investigation and allegations of fraud by 27,000 secured creditors.

Mayer Brown global restructuring debtor practice lead Louis Chiappetta. (Courtesy photo)

It also marked a turning point for Mayer Brown’s debtor’s practice, to which Chiappetta arrived in 2019 from Skadden, Arps, Slate, Meagher & Flom. The company’s largest debtor-side representation ever—with the next-largest debtor case occurring over a decade ago—GWG Holdings marked Mayer Brown’s resurgence as a player in representing major debtors.