Bill is a nationally recognized bankruptcy attorney with extensive experience in corporate and municipal reorganizations and debt restructurings both in and out of court. He represents creditors and debtors across a wide range of industries throughout the country in all phases of distressed debt negotiations, bankruptcy litigation, and distressed asset acquisitions. Bill is also recognized as one of the leading attorneys in the nation for his work representing bond trustees and bondholders in Chapter 9 bankruptcies and other governmental and municipal insolvencies.
Bill's practice focuses primarily on commercial law and litigation, workouts, and corporate and municipal restructurings. Bill has represented various institutional lenders, indenture trustees, bondholders, and other creditors, debtors, and trustees in all manner of insolvency proceedings in courts throughout the United States.
His industry experience encompasses municipalities, airlines, hospitals and other health care facilities, retail, telecom, energy and clean tech, waste disposal, military housing, hotels, and educational institutions.
He has substantial experience in all phases of bankruptcy litigation, practice, and case management from both the debtor’s and creditor’s perspective, including relief from stay, adequate protection, valuation, preference, fraudulent transfer, subordination, competing plan, and appellate litigation. One of his specialty areas is in negotiating sales of troubled companies and assets, both in and out of bankruptcy. His practice also includes addressing bankruptcy and documentation issues in securitizations, receivable sales, bond transactions, and structured financings generally.
Bill is active in the American College of Bankruptcy, American Bankruptcy Institute and the Turnaround Management Association and frequently lectures and writes on insolvency issues in front of these groups and numerous other bar, trade, and industry groups, including the National Federation of Municipal Analysts and its constituent societies and the Municipal Bond Buyers Conference. He served as an editor-in-chief of the American Bankruptcy Institute Health Care Insolvency Manual and served as co-chair of the American Bankruptcy Institute’s Health Care Insolvency Section.
Bill is a nationally recognized bankruptcy attorney with extensive experience in corporate and municipal reorganizations and debt restructurings both in and out of court. He represents creditors and debtors across a wide range of industries throughout the country in all phases of distressed debt negotiations, bankruptcy litigation, and distressed asset acquisitions. Bill is also recognized as one of the leading attorneys in the nation for his work representing bond trustees and bondholders in Chapter 9 bankruptcies and other governmental and municipal insolvencies.
Experience
- Representation of ad-hoc sewer and water revenue bondholders in Chapter 9 of Detroit, Michigan proceedings in the United States Bankruptcy Court for Eastern District of Michigan.
- Representation of ad-hoc group of second lien bondholders in Chapter 11 of Caesars Entertainment Corp. in the United States Bankruptcy Court for the District of Illinois.
- Representation of indenture trustee for first lien bondholders in Chapter 11 bankruptcy of Molycorp, Inc. et. al. in United States Bankruptcy Court for the District of Delaware.
- Representation of numerous institutional holders of municipal bond debt of the Commonwealth of Puerto Rico and related entities.
- Representation of indenture trustees in numerous Chapter 9 hospital district cases including Atoka Medical Center in the United States Bankruptcy Court for Eastern District of Oklahoma, Tulare Medical Center in the United States Bankruptcy Court for Eastern District of California and Palm Drive Health Care District in the United States Bankruptcy Court for Northern District of California.
- Representation of indenture trustee for lease revenue and special revenue debt in Chapter 9 of Stockton, California in the United States Bankruptcy Court for the Eastern District of California.
- Representation of indenture trustee in receivership of Scranton Parking Authority in Scranton, Pennsylvania.
- Representation of indenture trustee in receivership of Central Falls Detention Facility Corporation in Central Falls, Rhode Island.
- Representation of Synata Bio Inc. in the purchase of assets from Abengoa Bioenergy Biomass of Kansas, LLC pending in the United States Bankruptcy Court for the District of Kansas.
- Representation of liquidity providers and bondholders in Chapter 9 of Jefferson County, Alabama in the United States Bankruptcy Court for Northern District of Alabama.
- Representation of indenture trustees and bondholders with respect to facility revenue bonds in the Chapter 11 bankruptcies of United Airlines, Inc., Northwest Airlines and Delta Airlines, Inc.
viewpoints
In re Weinstein and Mallinckrodt: Implications for Royalty Financings, M&A Earn-Outs, and Other Transactions Involving Future Payment Obligations
October 25, 2024 | Alert | By Rich Gervase, Eric Blythe, William Kannel
Read about a Third Circuit ruling, which held that a creditor’s right to future royalty payments in a non-executory contract — an agreement in which one party has performed all material obligations and the other has not — could be discharged in the bankruptcy of a counterparty-debtor. The decision highlights the importance of properly structuring M&A, earn-out, and royalty-based transactions.
The Expanding Contours of Permissible Non-Debtor Releases in the Ninth Circuit
April 1, 2021 | Blog | By Andrew B. Levin, William Kannel
363 Sales as a Health Care M&A Tool, Part 2 – Pros and Cons for Buyers and Sellers
September 11, 2020 | Blog | By Deborah Daccord, William Kannel, Tim McKeon
As a refresher, a 363 Sale couples a flexible and fast process with ample liability protection for willing buyers. The primary benefit of a 363 Sale is that a buyer can acquire the debtor’s assets free and clear of virtually all liens, claims, and interests burdening the assets and the debtor. And when Section 363 is coupled with the “assumption and assignment” provisions of Section 365 of the Bankruptcy Code, a debtor is able to assign most contracts or leases that a buyer may wish to purchase, including contracts with ironclad anti-assignment language, provided that certain conditions are satisfied. When a target is experiencing severe financial distress, the benefit of acquiring assets “free and clear” is extraordinarily valuable.
363 Sales as a Health Care M&A Tool, Part 1 – Overview
July 28, 2020 | Blog | By Deborah Daccord, William Kannel, Tim McKeon
For those unfamiliar with 363 Sales, a 363 Sale couples a flexible and fast process with ample liability protection for willing buyers. The primary benefit to a 363 Sale is that a buyer can acquire the debtor’s assets free and clear of virtually all liens, claims and encumbrances burdening the assets and the debtor. When a target is experiencing severe financial distress, the benefit of acquiring assets “free and clear of all liens” is extraordinarily valuable.
Top 10 Questions Human Resources May Have When Their Company is Filing for Chapter 11 Protection
June 2, 2020 | Blog | By Andrew Matzkin, Kaitlin R. Walsh, William Kannel
M&A in the COVID Era – Part I – Dealing with Distress: Strategies for Buyers of Distressed Targets in the Post–COVID-19 Era
April 2, 2020 | Advisory | By William Kannel, Matthew T. Simpson
The Coronavirus Aid, Relief, and Economic Security Act: Assistance Available to Passenger Airlines and Airports
March 31, 2020 | Blog | By Tim McKeon, William Kannel
Congress Acts to Mitigate COVID-19 Impact
March 18, 2020 | Blog | By Anthony DeMaio, William Kannel
First Circuit Rules That “Incorporation by Reference” of Collateral Description in UCC Financing Statements May Not Perfect Lien
February 14, 2019 | Blog | By William Kannel, Eric Blythe
Insolvent “On Behalf Of” Municipal Bond Issuers: Chapter 9, Chapter 11, or Ineligible?
February 26, 2018 | Blog | By William Kannel
News & Press
23 Mintz Attorneys Named to Boston Magazine’s “Top Lawyers” List
November 22, 2024
23 Mintz attorneys have been named to Boston Magazine’s 2024 “Top Lawyers” list.
Mintz is pleased to announce that 31 attorneys have been named Massachusetts Super Lawyers and 35 attorneys have been named Massachusetts Rising Stars for 2024.
The Best Lawyers in America 2025 Recognizes 184 Mintz Attorneys across 56 Practice Areas
August 15, 2024
187 Mintz attorneys have been recognized by Best Lawyers® in the 2025 edition of The Best Lawyers in America©. Notably, three Mintz attorneys received 2025 “Lawyer of the Year” awards, and 64 firm attorneys were included in the 2025 edition of Best Lawyers: Ones to Watch.
Mintz announced today that 42 of its practices and 83 of its attorneys earned recognition in the 2024 edition of Chambers USA, a guide to the country’s leading law firms. Of those included in the guide, 18 attorneys and seven practice areas were awarded Chambers’ highest ranking, Band 1. The firm obtained new listings in three practice areas and 10 of its lawyers were recognized for the first time.
Twenty-Five Mintz Attorneys Named To Boston Magazine’s Top Lawyers List
November 21, 2023
BOSTON – Twenty-five Mintz attorneys have been named to Boston Magazine’s Top Lawyers list.
Mintz’s Bill Kannel To Receive Lifetime Achievement Award From Smith’s
November 21, 2023
BOSTON – Mintz is pleased to announce that Bankruptcy & Restructuring Chair, Bill Kannel, is set to receive the Lifetime Achievement Award from Smith’s Researching & Grading.
Mintz is pleased to announce that 120 firm attorneys have been recognized as leaders by Best Lawyers® in the 2024 edition of The Best Lawyers in America©.
Lawdragon 500 Names Two Mintz Attorneys To Its 2023 Leading U.S. Bankruptcy And Restructuring Lawyers List
June 29, 2023
BOSTON – Mintz is pleased to announce that William Kannel and Daniel Bleck were named to the 2023 Lawdragon 500 Leading U.S. Bankruptcy and Restructuring Lawyers guide for their work helping clients manage distressed assets.
BOSTON – Mintz has earned top rankings in the 2023 edition of Legal 500 United States guide. The firm is recognized in 14 practice categories, and 59 individual attorneys are also recognized in the guide, some in more than one category.
BOSTON –Mintz announced today that 39 of its practices and 81 of its attorneys earned recognition in the 2023 edition of Chambers USA, a guide to the country’s leading law firms.
PREPA Bond Arguments Pose Danger To Municipal Revenue Bond Market
February 8, 2023
Chair of Mintz's Bankruptcy & Restructuring Practice, Bill Kannel and Member Len Weiser-Varon co-authored an article published by The Bond Buyer analyzing arguments raised by Puerto Rico Electric Power Authorities (PREPA) parties that undermine the basics of municipal finance.
35 Mintz attorneys have been named Massachusetts Super Lawyers and 25 Mintz attorneys have been named Massachusetts Rising Stars for 2022.
Best Lawyers® recognized 108 firm attorneys in the 2023 edition of The Best Lawyers in America©. Notably, two Mintz attorneys – Poonam Patidar and Scott M. Stanton – received 2023 “Lawyer of the Year” awards, and 28 firm attorneys were included in the inaugural edition of Best Lawyers: Ones to Watch.
Three Mintz Attorneys Named Leading U.S. Bankruptcy and Restructuring Leaders by Lawdragon in 2022
January 25, 2022
Cities and States Are Facing Horrific Budget Holes. There Will Be More Trouble Ahead.
August 31, 2020
The Top 10 Questions Human Resources Professionals May Have When Their Company is Filing for Chapter 11 Protection
August 19, 2020
Mintz Practice Groups and Attorneys Garner Top Rankings in 2020 Edition of The Legal 500 United States
June 12, 2020
Mintz Recognized by Chambers USA 2019
April 26, 2019
Mintz Pro Bono Service Recognized by U.S. Bankruptcy Court
October 04, 2018
Chambers USA 2018 Ranks Mintz Attorneys & Practices
May 03, 2018
Eighty-Four Mintz Attorneys Named 2016 Massachusetts Super Lawyers and Rising Stars
October 18, 2016
Mintz Members William W. Kannel and Daniel S. Bleck to Speak at SMITH’s High Yield Municipal Bond Conference
September 21, 2016
Joseph R. Dunn Elevated to Member of Mintz
May 19, 2015
Mintz’s Bankruptcy Practice Recognized by Legal 500 USA
July 24, 2014
Events & Speaking
Hospital Distress – The “Post” Pandemic Environment and Impacts on Hospital Restructurings and Sales
American College of Bankruptcy and BC Law
Boston College Law School
MUNICIPAL BANKRUPTCY: LESSONS LEARNED FROM PUERTO RICO
Smith's Research & Gradings High Yield Municipal Conference
Greenwich, CT
American College of Bankruptcy/Boston College Law School Bankruptcy Symposium
Borrowing a Bankruptcy and Legislative Responses
Boston College Law School East Wing 120 885 Centre St Newton, MA
Tools for Evaluating State Pension Risk
The Education Committee of the National Federation of Municipal Analysts
Grand Hyatt Denver, CO
24th Annual Northeast Conference - Puerto Rico: The View From The Inside
American Bankruptcy Institute
Newport Marriott, Newport, Rhode Island
33rd National Federation of Municipal Analysts Conference
Westin, Michigan Avenue, Chicago, IL
ACIC 2016 Spring Investment Forum
American College of Investment Counsel
The Four Seasons Hotel Chicago, IL
2016 Municipal Bond Buyers Conference
Hyatt Regency Coconut Point Resort & Spa Bonita Springs, FL
SMITH’s High Yield Municipal Bond Conference
SMITH’s Research & Gradings
Hyatt Regency Greenwich, CT
Publications
In re Weinstein and Mallinckrodt: Implications for Royalty Financings, M&A Earn-Outs, and Other Transactions Involving Future Payment Obligations, Pratt's Journal of Bankruptcy Law, 2024
Read less
Bill is a nationally recognized bankruptcy attorney with extensive experience in corporate and municipal reorganizations and debt restructurings both in and out of court. He represents creditors and debtors across a wide range of industries throughout the country in all phases of distressed debt negotiations, bankruptcy litigation, and distressed asset acquisitions. Bill is also recognized as one of the leading attorneys in the nation for his work representing bond trustees and bondholders in Chapter 9 bankruptcies and other governmental and municipal insolvencies.
Recognition & Awards
Fellow, American College of Bankruptcy
Smith’s 2023 All-Star Lifetime Achievement Award Recipient
Legal 500 Hall of Fame Finance: Municipal Bankruptcy (2021 - 2024)
Featured in Best Lawyers in America, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, Litigation – Bankruptcy (2006 – 2025)
Chambers USA: Massachusetts (Band 2) – Bankruptcy/Restructuring (2023 - 2024)
Chambers USA: Massachusetts (Band 1) – Bankruptcy/Restructuring (2005 – 2022)
The International Who’s Who of Insolvency & Restructuring Lawyers (2015 – 2022)
Massachusetts Super Lawyers: Bankruptcy: Business list (2005 – 2024)
Recognized as a leading lawyer by The Legal 500 United States for Finance: Municipal Bankruptcy (2013 – 2020)
Martindale-Hubbell AV Preeminent
Lawdragon 500 Leading U.S. Bankruptcy & Financial Restructuring Lawyers (2020-2024)
Boston Magazine Top Lawyers – Bankruptcy (2021 - 2024)
Recent Insights
23 Mintz attorneys have been named to Boston Magazine’s 2024 “Top Lawyers” list.
Mintz is pleased to announce that 31 attorneys have been named Massachusetts Super Lawyers and 35 attorneys have been named Massachusetts Rising Stars for 2024.
