Daily News: April 9, 2012

Hogan Lovells Adds Partner to Business Restructuring, Insolvency

Hogan Lovells announced that it is expanding its U.S. Business Restructuring and Insolvency practice with the addition of Peter Ivanick as a partner in New York. Ivanick will also be working closely with the Corporate and Regulatory Insurance practices. Prior to joining Hogan Lovells, Ivanick was a partner in the Business Solutions & Governance practice with Dewey & LeBoeuf in New York.

Ivanick’s 30-year legal career includes experience in all aspects of high-level Chapter 11 and out-of-court restructurings, acting both for debtors and creditors. He has played significant roles in most of the major American insurance insolvencies over the last 25 years, including leading the current representation of Ambac Assurance Company (AAC) in the rehabilitation of its Segregated Account in Wisconsin, and the recently confirmed Chapter 11 case of AAC’s parent Ambac Financial Group.

“It is with great pleasure that we welcome Peter to our group,” said Robin Keller, leader of Hogan Lovells’ U.S. Business Restructuring and Insolvency practice. “Peter’s broad experience in complex business restructurings, cross-border representations, and his position as a nationally recognized leader in the field of insurance and reinsurance insolvency will further enhance the capabilities that Hogan Lovells offers to our clients. Peter’s diverse skills offer an ideal complement to our leading global practices in these arenas.”

Stephen Foster, global head of the Business Restructuring and Insolvency practice, said, “Peter’s recruitment reflects the commitment to growth and the bench-strength of Hogan Lovells’ award-winning insolvency practice world-wide, and we look forward to having him on our team.”

In addition to Ambac, Ivanick has advised life insurers, financial guarantors, and mortgage insurers on the challenges presented by their heavy involvement with residential mortgage backed securities and similar distressed assets. He also has represented petitioners and other interested parties in connection with solvent schemes and foreign insurance insolvencies as those matters have made their way through the bankruptcy court under old Section 304 and new Chapter 15.