Bar Admissions
North Carolina
Missouri
Education
Washington and Lee University, J.D., magna cum laude, 1988, Order of the Coif; Executive Editor, Washington and Lee Law Review, 1987-88
Furman University, B.A., cum laude, 1985
Profile
David Schilli concentrates his practice on commercial out-of-court restructurings and Chapter 11 proceedings. Clients call on David because he provides efficient, cost-effective representation and relies on his broad litigation and transactional experience to develop and implement practical business solutions. His 30 years of experience across a wide spectrum of industries and sectors allow him thoughtfully to help clients quickly adapt to crisis management challenges and craft creative solutions.
David’s ability to effectively counsel a wide range of clients during crises results from his diverse litigation practice representing nearly every constituency group in bankruptcy and creditors' rights matters and a broad transactional practice focused on representing financial institutions and other lenders in originating, working out and restructuring loans. He is equally comfortable in the courtroom and at the negotiating table, and his calm, measured approach benefits his clients.
David has regularly lectured on various bankruptcy topics at local, state and regional conferences, and he has served in leadership positions in professional turnaround organizations, including as chair of the North Carolina Bar Association's Bankruptcy Section and president of the Carolinas Chapter of the Turnaround Management Association.
Honors & Awards
- Chambers USA, bankruptcy/restructuring, 2004-24
- The Best Lawyers in America, bankruptcy and creditor debtor rights/insolvency and reorganization, 2009-25; Charlotte Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law Lawyer of the Year, 2020
- North Carolina Super Lawyers, bankruptcy and creditor/debtor rights, 2006-24
- Business North Carolina, Legal Elite, bankruptcy, 2003-16, 2021-23
- Mecklenburg Access to Justice Pro Bono Partners Program, Pro Bono Honor Roll, 2023
- Martindale-Hubbell, AV® Preeminent™ Peer Review Rated
Clerkships
- Law Clerk, The Honorable George R. Hodges, U.S. Bankruptcy Court, Western District of North Carolina, 1990-91
- Law Clerk, The Honorable Robert D. Potter, U.S. District Court, Western District of North Carolina, 1988-90
Experience
Experience
Bankruptcy Engagements
Represents the debtor in two separate and unrelated Chapter 11 cases filed to permanently, globally and fairly address asbestos claims through a reorganization plan that includes a channeling injunction under Bankruptcy Code § 524(g).
Represents a foreign equipment manufacturer in a Chapter 7 bankruptcy of a sole U.S. distributor, including in connection with the acquisition of real estate and personal property assets in competitive section 363 sale process.
Represents equity holders in quick-serve restaurant chains in the Chapter 11 cases of those restaurant chains.
Represented a manufacturer in corporate restructuring to protect the operating business and enable the business unit with asbestos claims to be sold.
Represented a bidder in section 363 sale process for substantially all of the assets of provider of live and on-demand video delivery solutions.
Represents an international supplier of infrastructure solutions for communication networks in all aspects of U.S. and cross-board bankruptcy cases of suppliers and customers, involving reclamation, post-petition supply on open account, preservation of administrative claims, impact of bankruptcy filing on existing supply agreements, proof of claim filings, preference defense and asset sale issues.
Represented a large regional bank in pursuing collection remedies on a senior credit facility secured by substantially all assets of a NASCAR Cup Series race team, including pursuing appointment of receiver and, following a Chapter 11 filing, obtaining appointment of a Chapter 11 trustee that resulted in the sale of the race team.
Represented the largest landlord group in the Chapter 11 case involving the Performance Bicycle retail chain, including the going-out-of-business sales and section 363 sale processes.
Represented a wholesale nursery supplier in the Chapter 11 proceedings of a grower and defeated the grower's efforts to re-characterize its contracts with the supplier as disguised financing arrangements, which if successful would have resulted in the supplier losing its interest in nearly $5 million of nursery product.
Out-of-Court Restructurings and Workouts
Represented a minority investor and loan guarantor in out-of-court distressed sale of real estate project containing wedding and event space, distillery space and a commercial kitchen.
Represented a national bank in the restructuring of a multiborrower senior credit facility secured by the accounts receivable and real estate of a national distribution and logistics company.
Represented a national bank in a senior secured loan workout secured by a mixed-use (multifamily and office) project.
Represented a national bank in the restructuring of a senior credit facility to a borrower in the textile industry involving a series of multimillion-dollar subordinated debt offerings and equity infusions, leading to the sale of the senior credit facility to subordinated debt holders.
Represented a national bank in a senior credit facility to a construction company in a complex debt restructuring of a revolver, letter of credit obligations and swap obligations involving a series of multimillion-dollar subordinated debt offerings and equity infusions, leading to sale of the senior credit facility to subordinated debt holders.
Represented the lender in the U.C.C. Article 9 foreclosure of a failed borrower in the health care industry.
Represented a national bank in a senior credit facility to a hybrid bus manufacturer in a complex debt restructuring of a term loan, a revolver and letter of credit obligations involving a series of multimillion-dollar subordinated debt offerings and equity infusions, leading to the sale of the senior credit facility to subordinated debt holders.
Represented a national bank in collecting senior loans secured by real estate owned by a single-purpose borrower and leased to the General Services Administration.
Represented a national bank in connection with a nonprofit school's redemption of bonds issued by North Carolina's Capital Facilities Finance Agency and supported by the bank's letter of credit and the restructuring and ultimately collection of senior secured letter of credit reimbursement obligations.
Represented a national bank in liquidating a Chapter 11 case of a fully integrated real estate and telecommunications company owing letter of credit reimbursement obligations totaling $1 million secured by cash collateral and corporate credit cards secured by cash collateral and using the bank's treasury management services.
Represented a packaging supplier in the automotive industry in the sale of substantially all operating assets and wind-down of operations.
Represented a significant debt and equity holder in a residential real estate community, with leisure amenities to include golf, fishing, shooting and equestrian activities, in restructuring and capital raises to respond to cash-flow shortages, general economic conditions and other operational difficulties.
Represented an individual in the buyout of a financially troubled business partner in various entities that own a minor league baseball team, a baseball stadium under construction and a mixed-use real estate development surrounding the stadium, and in the restructuring of the real estate acquisition loan and other obligations.
Litigation
Represented a former officer and director of a medical diagnostic testing lab in defending claims by its Chapter 7 trustee for alleged breach of fiduciary duties, for alleged fraudulent transfers and for having authorized allegedly unlawful distributions when the testing lab was allegedly insolvent.
Represented a trust fiduciary in defending claims by Chapter 7 trustee for alleged post-petition conversion of funds from bankruptcy estate.
News & Events
News
- Aug. 15, 2024
- June 6, 2024
- Jan. 8, 2024
- Aug. 17, 2023
- June 6, 2023
- Jan. 20, 2023
- Jan. 12, 2023
- Aug. 23, 2022
- June 2, 2022
- Jan. 14, 2022
- Jan. 6, 2022
- Aug. 26, 2021
- May 21, 2021
- Jan. 15, 2021
- Jan. 4, 2021
- Aug. 20, 2020
- April 30, 2020
- Jan. 22, 2020
- Aug. 15, 2019
- May 6, 2019
- Jan. 28, 2019
- Aug. 15, 2018
- May 31, 2018
- Jan. 30, 2018
- Eight Named “Lawyer of the Year”Aug. 16, 2017
- May 31, 2017
- Jan. 26, 2017
Events
Mecklenburg County Bar
2850 Zebulon Avenue
Charlotte, NC 28208May 19, 2023- Lending Horror StoriesOct. 31, 2019
The Ritz-Carlton
4750 Amelia Island Parkway
Amelia Island, FL 32034July 19, 2019First Citizens Bank
Second Floor Dining Room
128 S. Tryon St.
Charlotte, NC 28202Oct. 31, 2018Charlotte City Club
121 W. Trade St.
Charlotte, NC 28202Dec. 5, 2016Byron's Southend
101 W. Worthington
Charlotte, NCJan. 19, 2016
Insights
- Nov. 23, 2016Corporate Counsel
Affiliations
Professional Affiliations
- North Carolina Bar Association, Bankruptcy Section, Vice Chair, 2004; Chair, 2005; Council Member; Membership Committee; Vice Chair, Seminar Committee; Chair, Seminar Committee
- Turnaround Management Association, Global Chapter Resource & Response Committee, Member, 2020-present; Carolinas Chapter, Vice President, 2012-13; President, 2014-15; Board of Directors, 2009-present; Secretary, 2010-11, 2018-21
- American Bankruptcy Institute, Member; Southeast Workshop Advisory Board, Member, 2018-present
- Western District of North Carolina Bankruptcy Seminar Planning Committee, 2019-22; Co-Chair, 2022
- Mecklenburg County Bar, Professionalism Committee, Member, 2000-07; Chair, 2005-06; Ayscue Professionalism Award Committee, Member, 2003-07
- North Carolina Bar Foundation, North Carolina Bankruptcy Manual, Managing Editor, 5th Edition (2003); Contributing Author, 4th Edition (1993), "Claims and Protecting the Creditor’s Interests"; Contributing Author, 8th Edition (2017), 7th Edition (2012) and 6th Edition (2007), "Meeting of Creditors"
- Fourth Circuit Judicial Conference, Permanent Member
Community Affiliations
- Carolina Golf Club, Member, 1997-present; Greens Committee, 2008-09; Membership Committee, 2011-14; Finance Committee, 2015-22; Board of Governors, 2019-present; Secretary, 2020; Vice President, 2021-22; President, 2023-present; Executive Committee Member, 2020-present
- Youth athletics coach (baseball, basketball, soccer), 1990-97, 2014-17
- St. Peter Catholic Church, Pastoral Council, 2015-21; Vice Chair, 2018-19; Chair, 2019-20
- Furman University Alumni Board, Member, 2001-06
- Center for Community Transitions (fka ECO, Inc.), Board of Directors, 2000-05; President, 2002-04