Debtwired! Davis Polk's Brian Resnick on LMEs, restructurings and his music passion
May 27, 2025
Brian Resnick, a partner at Davis Polk, brings a unique perspective as a former Juilliard-trained musician turned legal expert in restructuring. He dives into the evolution of liability management strategies and the impact of recent market volatility. Brian also shares insights on current and future trends in financial restructuring, while reminiscing about co-producing a Tony Award-winning musical. His journey from the stage to the courtroom is as captivating as his innovative approaches to navigating complex legal landscapes.
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Musician to Lawyer Journey
- Brian Resnick transitioned from being a Juilliard-trained professional musician to a lawyer at Davis Polk.
- He played on Broadway, Saturday Night Live, and in punk rock bands before focusing on law and restructuring.
Davis Polk Restructuring Growth
- Davis Polk's restructuring group grew organically from 8 to 70+ lawyers over two decades.
- Expansion into hedge fund and ad hoc group representation was key for growth and market leadership.
LMEs Growth During COVID
- Liability management exercises (LMEs) grew significantly starting in 2020 due to COVID liquidity issues.
- LMEs allow companies to buy time by extending maturities or raising senior financing, often avoiding bankruptcy.