Education
- University of California at Los Angeles (B.A. summa cum laude 1971)
- Harvard Law School (J.D. summa cum laude 1974)
Bar and Court Admissions
- 1974, California
- United States Supreme Court
Isaac M. Pachulski
Isaac M. Pachulski, resident in the firm’s Los Angeles office, has cultivated a national reputation for more than four decades in reorganization proceedings and dealing with a broad spectrum of bankruptcy-related issues. Isaac’s work for clients spans dozens of industries and has included debtors, significant creditors, official and unofficial committees, and creditor groups in cases around the country. Many of Isaac’s representations are nonpublic, involving advice to clients on various bankruptcy-related issues. He has represented substantial creditors and creditor groups in major chapter 11 cases such as those of Westinghouse (substantial creditor); Toys R Us (substantial bondholder); Lehman Brothers (substantial creditor and bondholder); Tribune (substantial noteholder); Scotia Pacific ( holders of in excess of $200 million of secured notes); Calpine (appellate co-counsel to certain holders of convertible notes), Adelphia Communications (substantial noteholder and special conflicts counsel to ad hoc noteholder group) and Enron Corporation (holders of more than $3 billion senior unsecured debt).
More recently, a substantial portion of Isaac’s practice has centered on representing significant stakeholders in mass tort chapter 11 cases. Isaac represented a substantial holder of property damage insurance subrogation claims in the chapter 11 cases of PG&E Corporation and Pacific Gas and Electric Company (whose chapter 11 filings were precipitated by claims arising from a series of California wildfires). Isaac has acted as counsel to a law firm that represents thousands of ovarian cancer victims who assert claims arising from product-based talc exposure in a series of chapter 11 cases. These include the chapter 11 cases of Imerys Talc America and affiliated entities—where Isaac’s work included a lead role in a successful challenge to the vote on a plan that the firm’s client opposed and two successive chapter 11 cases filed by LTL Management (an affiliate of Johnson & Johnson formed to file a chapter 11 case to address talc-related claims)—where Isaac’s work included a principal role in the prosecution of motions to dismiss in each case that, along with motions to dismiss filed by other parties, ultimately led to the dismissal of both cases.
Previously, Isaac has represented debtors and, to a lesser extent, trustees. Among these representations, Isaac acted as lead chapter 11 counsel for Mariner Post-Acute Network, Mariner Health Group, and 185 affiliated entities that collectively operated approximately 400 skilled nursing and long-term acute care facilities as of the chapter 11 filing and who successfully confirmed a chapter 11 plan. Isaac represented the trustee for a failed clearing broker in a proceeding under the Securities Investor Protection Act.
Isaac is a long-time member of the National Bankruptcy Conference (where he chaired the Chapter 11 Committee and served on the Executive Committee), as well as being a member of the International Insolvency Institute and a fellow of the American College of Bankruptcy. He has been named in Who's Who Legal (for Insolvency & Restructuring), the Best of the Best (Legal Media Group), 500 Leading Lawyers in America; Southern California Best Lawyers in America (2011 & 2012); Best Lawyers in America (every year since 1993), and Super Lawyers for Bankruptcy & Creditor/Debtor Rights (Super Lawyers Magazine; every year since 2004). Isaac holds an AV Preeminent Peer Rating, Martindale-Hubbell's highest recognition for ethical standards and legal ability. He was listed by Lawdragon as one of the 2020 "Lawdragon 500 Leading Global Restructuring & Insolvency Lawyers."
Isaac received his J.D., summa cum laude, from Harvard University, earning the distinguished Fay Diploma for highest cumulative grade-point average. While at Harvard, he won the Sears Prize two years in a row and was a member of the Harvard Law Review. His BA was earned summa cum laude at University of California Los Angeles.
Representations
Chapter 11 debtors: Mariner-Post Acute Network; Public Service Company of New Hampshire; Cherokee, Inc.; Restaurant Enterprises Group; Wilson Foods
Debtholders in chapter 11 cases: Enron; Owens Corning; Lehman Brothers; Tribune Company; Scotia Pacific; Delphi Corporation; Calpine; Adelphia Communications
Reported Cases
U.S. Bancorp Mortgage Corp. v. Bonner Mall Partnership, 513 U.S. 18 (1994)(counsel for amicus)
Chemical Bank v. First Trust of N.Y. (In re Southeast Banking Corp.), 156 F.3d 1114 (11th Cir. 1998)
United States v. Wyle (In re Pacific Far East Lines), 889 F.2d 24 (11th Cir. 1989)
First Fidelity Bank v Public Service Co. (In re Public Service Co.), 879 F.2d 987 (1st Cir. 1989)
Willamette Waterfront Ltd. v. Victoria Station Inc. (In re Victoria Station Inc.), 875 F.2d 1380 (9th Cir. 1989)
Danning v. Bozek (In re Bullion Reserve), 836 F.2d 1214 (9th Cir. 1988)
Landes Constr. Co. v Royal Bank of Canada, 833 F.2d 1365 (1987)
Sambo's Restaurants v. Wheeler (In re Sambo's Restaurants), 754 F.2d 811 (9th Cir. 1985)
Harris v. Emus Records Corp., 734 F.2d 1329 (9th Cir. 1984)
Salomon v Logan (In re International Envtl. Dynamics), 718 F.2d 322 (9th Cir. 1983)
Aoki v Shepherd Mach. Co. (In re J.A. Thompson & Son), 665 F.2d 941 (9th Cir. 1982)
Royal Bank of Canada v. Trone (In re Westgate Cal. Corp.), 634 F.2d 459 (9th Cir. 1980)
Casady v. Bucher (In re Royal Properties), 621 F.2d 984 (9th Cir. 1980)
C.F. Brookside Ltd. v. Skyview Mem. Lawn Cemetery (In re Affordable Hous. Dev. Corp.), 175 B.R. 324 (BAP 9th Cir. 1994)
Professional Affiliations
- Member, National Bankruptcy Conference (former chair, Chapter 11 Committee)
- Member, International Insolvency Institute
- Fellow, American Bankruptcy College
Programs and Lectures
International Insolvency Institute; Financial Lawyers Conference; American Bankruptcy Institute; National Conference of Bankruptcy Judges; Turnaround Management AssociationNews
- August 15, 2024
- August 15, 2024
- Lawdragon, June 14, 2024
- June 4, 2024
- January 10, 2024
- August 17, 2023
- Lawdragon, June 16, 2023
- Chambers Global, Chambers USA, June 1, 2023
- January 2023
- August 18, 2022
- Chambers USA, Chambers Global, June 1, 2022
- January 20, 2022
- Lawdragon, January 14, 2022
- August 19, 2021
- January 2021
- September 2020
- August 20, 2020
- August 11, 2020
- April 23, 2020
- February 10, 2020
- January 15, 2020
- August 15, 2019
- April 25, 2019
- January 30, 2019
- August 15, 2018
- May 7, 2018
- January 31, 2018
- August 15, 2017
- June 8, 2017
- January 25, 2017
- August 2016
- April 15, 2016
- August 17, 2015
- May 19, 2015
- April 2015
- Los Angeles magazine, February 2015
- Bankruptcy Law 360, November 2014
- PSZJ Bulletin No. 17October 30, 2014
- August 2014
- PSZJ Bulletin No. 16, May 2014
- April 23, 2014
Publications
- "Cramdown and Valuation Under Chapter 11 of the Bankruptcy Code," 58 N.C.L. Law Review 925 (1981)
- "Levy v. Cohen: Another Pitfall for Creditors in Bankruptcy Proceedings," 53 Los Angeles Bar Journal 278 (1977)
Events
- Living on the (H)edge: Where Distressed Investors are Taking Modern Bankruptcy PracticeMarch 8, 2015