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Dustin P. Smith

New York City

+1 (212) 837-6126

[email protected]
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Dustin P. Smith is a partner in the firm's Corporate Reorganization and Litigation departments. He represents companies restructuring their financial affairs both in and out of court, as well as representing secured and general creditors in Chapter 7 and Chapter 11 bankruptcies, out-of-court workouts, and adversary and collateral proceedings. Among other things, Dustin has assisted with the recovery of customer and proprietary assets and resolved various disputes on behalf of the trustee in the Lehman Brothers Inc. and MF Global Inc. bankruptcies, including the investigation of the events leading to the failure of these entities, resolution of thousands of individual claims, litigation regarding the status of various financial instruments and transactions in liquidations, and the distribution of billions in assets to these entities’ former customers and creditors. His representation has brought him into frequent contact with regulators, self-regulatory organizations and industry groups. Dustin is also the managing editor of the Hughes Hubbard & Reed Bankruptcy Report, an online resource providing insights on emerging issues and developments in bankruptcy law.
 
In 2016, Dustin was selected for inclusion in Global Restructuring Review’s “40 under 40,” a list of 40 legal professionals under the age of 40 who are “the world’s leading young insolvency and restructuring lawyers.” In 2014, Dustin was recognized by Turnarounds & Workouts as an Outstanding Young Restructuring Lawyer—an honor bestowed upon only 12 bankruptcy lawyers nationwide.

Professional Activities

  • Secretary, New York City Bar Bankruptcy and Corporate Reorganization Committee
  • Member, Part 190 Subcommittee of the Business Law Section of the American Bar Association
  • Former Secretary, Federal Bar Council Bankruptcy Committee
  • Managing Editor, Hughes Hubbard & Reed Bankruptcy Report

Recognitions

  • Recommended Lawyer in The Legal 500 United States for Finance: Restructuring (including Bankruptcy): Corporate (2020 - 2022)
  • Selected for Next Generation Award by the National Conference of Bankruptcy Judges (2015)
  • Super Lawyers: “Rising Stars” (New York) (2015 - 2017)

Court Admissions

  • United States District Court Southern District of New York
  • United States Court of Appeals for the Second Circuit

Highlighted Publications and Lecturers

  • “A Preference Pendulum: Extraterritorial Application of Avoidance Powers in the SDNY.” New York Law Journal (June 12, 2017)
  • “Barton Beware: Barton Doctrine Prevents Bermuda Insurers from Enforcing Arbitration Clause in Foreign Court.” Insolvency and Restructuring International Vol 11 No. 1 (April 2017)
  • “Threading the Needle: Bankruptcy Court Ruling Reconciles Chapter 15 and Barnett,” ABA’s Business Bankruptcy Committee Newsletter (2016)
  •  “Lender Recovery in Bankruptcy: Pre-Petition Default Interest, Pre-Payment Penalties, Late Fees, OID, Attorney Fees,” Strafford Publications (June 2015)
  • “Courtside Seats: Sovereign Restructurings in the Supreme Court Arena” New York Law Journal (June 23, 2014)

Highlighted Matters

  • MF Global Inc.: Counsel for the trustee for the liquidation of MF Global Inc. Dustin was a key member of the team that effectuated the transfer of billions of dollars in open commodity contract positions and collateral from MF Global to other futures commissions merchants shortly after that troubled firm's collapse. He was also a member of the team that investigated the events leading to the shortfall of customer property at MF Global Inc., and that authored the Report of the Trustee's Investigation and Recommendations, dated June 4, 2012, which was filed with the Bankruptcy Court and was widely disseminated.
    He was one of the primary counsel to the trustee responsible for affirmative litigation in connection with MF Global Inc., including the recovery of missing customer funds. He also coordinated the review and determination of over 6,000 claims filed against MF Global’s general estate. 
  • Lehman Brothers Inc.: Counsel to the trustee for the liquidation of Lehman Brothers Inc., the largest stockbroker ever to fail. Dustin was a key member of the team that investigated the clearing bank for Lehman Brothers Inc., which resulted in an $860 million settlement on behalf of the trustee. He was also a member of the team that reached a negotiated settlement with a European affiliate that resulted in the resolution of billions in claims between the parties. Dustin has also handled various other disputes on behalf of the trustee with other Lehman affiliates and third parties. 
  • In re Ultrapetrol (Bahamas) Ltd.: Debtor’s counsel in the prepackaged Chapter 11 restructuring of international shipping and service company that operates in seven jurisdictions globally. 
  • In re Republic Airways Holdings Inc.: Debtors’ counsel in the $3.5 billion Chapter 11 restructuring of regional airline. 
  • In re Patriot National Inc.: Debtor’s counsel in the pre-negotiated Chapter 11 restructuring of an insurance service company. 
  • In re Affiliated Media Inc.: Debtor’s counsel in a prepackaged bankruptcy of the second-largest newspaper publisher in the US, which resulted in the acceptance of the prepackaged plan by virtually all creditors, and the confirmation of the plan in 41 days. 
  • In re Worldwide Transportation Services Inc.: Counsel to a secured lender, a debtor-in-possession (DIP) lender, and an acquirer of substantial assets pursuant to Section 363 of the Bankruptcy Code. 
  • Daicel: Counsel for creditor in the bankruptcy of an airbag manufacturer. 
  • Banco do Brasil: Counsel to secured creditor in the bankruptcy proceedings of a plastics manufacturer. 
  • In re Spectrawatt Inc.: Counsel to a UK company in the recovery of 100 percent of its advance payments following the failure of a US solar producer. 
  • Government of Ontario: Representation of the government of Ontario in the Chrysler and General Motors Chapter 11 cases. 
  • Representation of a variety of financial institutions and other entities as creditors in bankruptcy cases, loan default proceedings and out-of-court restructurings. 
  • Dustin’s pro bono practice focuses on immigration and asylum matters in the Southern District of New York and Second Circuit and prisoner rights and reform matters.
Pyrrhic Victory in Palmaz: Creditors Entitled to D&O Insurance Claims, but not D&O Insurance Payouts
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Vive Le Restructuring: French Restructuring Plan Gets Overseas Approval and Enforcement in the U.S.
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Supreme Court to Tackle Fraud Exception in Lamar, Archer & Cofrin, LLP v. Appling
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Endangered Species: Seventh Circuit Finds that Forex and Spot Metal Contracts are Not Entitled to Customer Protection in FCM Liquidations
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In IRI: Barton beware: Barton doctrine prevents Bermuda insurers from enforcing arbitration clause in foreign court
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The Gate Swings Shut: Second Circuit Ruling Narrows Restructuring Limitations
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SCOTUS Grants Cert in Jevic
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Solicitor General Sides With Priority Creditors In Recent Amicus Brief
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Structured Dismissal: The “Least Bad Alternative”
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Delaware Court Clarifies Creditor-Derivative Standing And Directors’ Fiduciary Duties To An Insolvent Corporation And Its Creditors
Client Advisories
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Supreme Court Concludes That Orders Denying Confirmation Of A Bankruptcy Plan Are Not Final For Purposes Of Appeal, Resolving Circuit Split
Client Advisories
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Third Circuit Holds That Tax-Sharing Arrangement Creates a Debtor-Creditor Relationship
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Second Circuit Stands By Expansion of Section 363 Review in Chapter 15 Proceedings
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Absolute Priority Rule Prevents Cram Down in In re RAMZ Real Estate Co., LLC
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Original Issue Discount in a Fair Market Value Exchange Is an Allowable Claim in Bankruptcy
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Safe Harbor Provisions Intact in Recent Seventh Circuit Decision
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In re Fisker: Delaware Bankruptcy Court Imposes Roadblock to Credit Bidding
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Glass Half Full for U.S. Creditors in Jaffe v. Samsung Electronics Co.: Fourth Circuit Rules In Favor of U.S. Creditors in Chapter 15 Jurisdictional Dispute
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Dance with the One that Brought You: Enforceability of Triangular Set-Off Provisions in Securities Contracts
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Practical Implications for Claims Traders in the Wake of KB Toys
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Second Circuit Rejects Argentina’s Request for Reconsideration
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Tax Sharing Arrangements in Bankruptcy: Who’s Refund Is It?
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Supreme Court Refuses to Hear Argentina’s Appeal
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UPDATED: Crying for Argentina: Hedge Funds Initiate Litigation To Collect On Sovereign Debt
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Crying for Argentina: Hedge Funds Initiate Litigation To Collect On Sovereign Debt
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News

Litigation Wrap: First Quarter 2025
News & Events
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Favorable Judgments Entered After SKAT Litigation Win
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Deals & Matters
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Firm Reaches Settlement with US Investor for Danish Tax Agency SKAT in $2.1B Tax Fraud Litigation
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Deals & Matters
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Hughes Hubbard Wins ~$500 Million Jury Trial for Denmark's SKAT in $2.1 Billion Tax Fraud Litigation
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Deals & Matters
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Litigation Wrap: Fourth Quarter 2024
News & Events
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Chris Kiplok Serves as Examiner in Weiss Multi-Strategy Advisers Chapter 11 Bankruptcy
News & Events |
Deals & Matters
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Litigation Wrap: Winter 2023-2024
News & Events
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Hughes Hubbard Wins Asylum for Afghan Family that Fled ISIS and the Taliban
News & Events |
Pro Bono
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Litigation Wrap: Third Quarter 2022
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Firm Obtains Rare Remand for Pro Bono Client
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Pro Bono
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Firm Contributes to Report on Access to Justice
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Pro Bono
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Firm Takes Georgia to Court Over New Voter Bill
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Pro Bono
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HHR Secures Jamaican Client's Release From Immigration Detention
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Pro Bono
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Litigation Wrap: Second Quarter 2020
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Awards |
Deals & Matters
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Firm Obtains Favorable Result for Sears Litigation Trustee
News & Events
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Hughes Hubbard Smooths Way for Resolution of Imerys' Talc-Related Suits
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Deals & Matters
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HHR Wins Pivotal Victory for Denmark in $2.1B Tax Fraud Case
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Deals & Matters
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Hughes Hubbard Promotes Two to Partnership and Two to Counsel
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People
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Judge Confirms Initial Victory for Denmark in $2.1B Tax Fraud Case
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Deals & Matters
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Hughes Hubbard Promotes Four to Partnership and Ten to Counsel
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​Firm Wins Ruling Against Georgia in Voter Suppression Case
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Pro Bono
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Litigation Wrap: Second Quarter 2018
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Awards |
Deals & Matters
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Firm Wins 2 Turnaround Atlas Awards for Restructuring Work
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Awards
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Firm Obtains Significant Settlement for Pro Bono Client
News & Events |
Pro Bono
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​Firm Wins Approval of Patriot National's Reorganization Plan
News & Events |
Deals & Matters
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Lehman Team Wins Appeal on Transfer Claims
News & Events |
Deals & Matters
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Hughes Hubbard Reps Renowned Diamond Trading Companies in Ch. 11 Cases
News & Events |
Deals & Matters
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In NYLJ: A Preference Pendulum: Extraterritorial Application of Avoidance Powers in the SDNY
Articles & Press
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Dustin Smith Named to 40 under 40 - Global Restructuring Review
Articles & Press |
Awards
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Firm Steers Marcou in Complex Bankruptcy Sale
News & Events |
Deals & Matters
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MF Global Team Marks Final Chapter in $8.1B Recovery Effort
News & Events |
Deals & Matters
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MF Global Team Achieves Unprecedented Success
News & Events
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MF Global Team Wins Approval for 2nd Payout to Creditors
News & Events |
Deals & Matters
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Hughes Hubbard Wins Work Product Dispute for MF Global Trustee
News & Events |
Deals & Matters
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​Hughes Hubbard's CRG Named Among Law360 Practice Groups of the Year
News & Events |
Awards
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Substantial Early Distribution to MF Global Creditors Approved
News & Events |
Deals & Matters
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Courtside Seats: Sovereign Restructurings In the Supreme Court Arena
Articles & Press
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Hughes Hubbard Represents MF Global Inc. Trustee in Motion to Approve Allocation of Customer Property
News & Events |
Deals & Matters
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Hughes Hubbard’s Bankruptcy Team Reaches Major Agreement With JPMorgan
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Deals & Matters
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Lehman Trustee Secures $861M for LBI Estate and Customers
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Deals & Matters
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Education
  • Cornell Law School, J.D., 2008, Cornell Journal of Law and Public Policy, Managing Editor
  • Georgetown University, B.S., 2005, cum laude
Bar Admissions
  • New York, 2009
Areas of Focus
Corporate Reorganization & Bankruptcy
Environmental, Social & Governance (ESG)
Litigation

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