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David L. Dubrow

David is a finance attorney representing clients in lending transactions, work-outs, and bankruptcies.
David Dubrow, Partner at Arent Fox

David represents financial institutions making loans to finance real estate projects and providing credit and liquidity facilities for tax-exempt bond issues. He has represented parties in financings involving multifamily housing, senior living facilities, hotels, hospitals, airports, educational facilities, industrial development, highways and bridges, subway systems, solid waste disposal facilities, student loans, state appropriation credits, and general obligations.

David also has extensive experience representing bond trustees, credit enhancers, and bondholders seeking to maximize their recoveries on defaulted tax-exempt bonds and in municipal bankruptcies.

Client Work

David has participated in transactions aggregating over $50 billion.  These transactions include the $1.6 billion financing of World Trade Center Tower 3, the $2.7 billion financing of Stuyvesant Town-Peter Cooper Village, and the $3.5 billion financing of the American Dream Project.

He also has extensive workout and bankruptcy experience ranging from representing clients on the Drexel Burnham Lambert Group and Lehman Brothers Holdings Inc. creditors committees and in the United Airlines, Delta Airlines, Orange County, Detroit, Central Falls, Harrisburg, San Bernardino, and Stockton bankruptcy cases.

Publications, Presentations & Recognitions

David is widely recognized as one of the leading lawyers in the country on municipal bankruptcy matters.

Legal 500 US 2015 notes that “Dubrow is a ‘top lawyer’ who has ‘decades of Chapter 9, Chapter 11, and municipal finance experience.’” In the 2014 edition, Legal 500 US mentions that “Dubrow has ‘rare expertise in both municipal bankruptcy and in general municipal bond law,’ is ‘extremely efficient and cost-effective,’ and his’ instincts for narrowing down the potential outcomes are peerless.’ He is also ‘one of a handful of lawyers who have the broadest knowledge of Chapter 9’ and his ‘legal analysis and strategizing is top-notch.’” In addition, ArentFox Schiff is recognized in the top tier nationally for its municipal bankruptcy work (2014-2019).

In November 2011, David was named in the annual rankings of the Financial Times for his stand-out innovative work with Fannie Mae, Freddie Mac, and the US Department of the Treasury in connection with their $24 billion programs to stabilize the housing finance market.

David’s notable articles include:

  • “Chapter 9 of the Bankruptcy Code: A Viable Option for Municipalities in Fiscal Crisis?” Urban Lawyer; 1992
  • “Single-Purpose Entities In Bankruptcy: Strategies For Lenders,” Commercial Lending Review; 2002
  • “The Impact of a Tobacco Bankruptcy on MSA Bonds,” The Bond Buyer; July 28, 2003
  • “Municipal Bankruptcy – Lessons for the Capital Market.” The Bond Buyer, February 13, 2015
  • “Chapter 9 Revisited: Preparing for the Next Downturn,” Pratt’s Journal of Bankruptcy Law; April/May 2016



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