Lisa Holl Chang is an associate in the Chicago office of Mayer Brown and is a member of the firm’s Restructuring practice. Lisa has extensive experience in complex insolvency matters and regularly represents lenders, agents, trustees, companies and other parties in out-of-court workouts and restructurings, enforcement actions, bankruptcy proceedings and other distress situations. Lisa has extensive experience in multi-jurisdictional transactions and proceedings, including those involving Chapter 15 relief. Lisa represents clients at all stages of financing transactions, including advising clients on intercreditor issues with respect to complex debt financing transactions, including those involving corporate bonds, first, second and split lien loans, mezzanine financing and unitranche structures. 

Lisa also has significant experience representing corporate trustees in a variety of matters involving the post-closing administration of residential mortgage backed securitization trusts, including disputes and litigation.

Lisa was recognized by the Chicago Alliance Against Sexual Exploitation as “Pro Bono Superstar of the Year” for her representations of survivors of sex trafficking in vacating prostitution convictions under the Illinois law.

Spoken Languages

  • English
  • Chinese


  • Representing GWG Holdings, Inc. and certain of its subsidiaries, a publicly-traded life settlements and alternative investments company with approximately $2.1 billion in debt at the time of filing, as lead debtors’ counsel, in connection with their Chapter 11 cases.
  • Lead restructuring associate representing the administrative agent under the $500 million syndicated multi-lender pre-petition revolving credit facility to Brazos Electric Power Cooperative, Inc. in its Chapter 11 case.
  • Represented The Jordan Company as buyer-side/lender counsel in the restructuring of Techniplas, LLC, a global manufacturer of auto components with production facilities and technical and sales centers in the United States, Mexico, Brazil, Germany, Switzerland, France, Spain, South Africa and China.
  • Represented Goldman Sachs Lending Partners LLC, as sole structuring agent and lead left arranger and bookrunner and Goldman Sachs Bank, as administrative agent, on a first-of-its-kind $6.8 billion financing consisting of $3.8 billion of senior secured high yield bonds and $3 billion of senior secured institutional term loans to MileagePlus Holdings, LLC, a direct wholly-owned subsidiary of United Airlines, Inc., with each of the loans and bonds secured by United Airlines’ loyalty program, MileagePlus and subject to a parent guarantee by United Airlines, Inc. and United Airlines, Holding Inc. and guarantees by certain other subsidiaries of United.
  • Represented a large U.S. financial institution and a premier loan agency service company, as agents for syndicates of banks, in connection with the workout, restructuring and multijurisdictional insolvency cases of Waypoint Leasing Holdings Ltd. and its various subsidiaries. This deal was awarded “Restructuring of the Year ($1B to $10B)” at the 2019 M&A Advisor Turnaround Awards.
  • Represented bond trustee, collateral agent and offshore accounts bank in the restructuring of Odebrecht Oil  & Gas and its subsidiaries and affiliates, which was awarded “Restructuring Deal of the Year” by both the International Financial Law Review and Latin Lawyer. The restructuring involved working with multiple constituencies to successfully restructure more than $2.5 billion of secured notes through proceedings in Brazil and the United States.
  • Represented indenture trustee and collateral agent in refinancing of over $800 million in project finance debt issued by Chilean power generator. The refinancing included a new issue of over $400 million in New York law governed bonds.
  • Represented the predecessors in title to Memorial Production Partners with respect to a $150 million dispute over a decommissioning trust relating to oil and gas operations offshore of the Port of Long Beach, California.
  • Represented corporate trustee in connection with dozens of investor-directed litigations in state and federal court.
  • Represented corporate trustee in connection with bondholder direction and indemnity negotiations and investor solicitation processes.


University of Southern California, BS, cum laude

University of Wisconsin Law School, JD, summa cum laude
Order of the Coif; Salmon Dalberg Award (outstanding member of the graduating class); Managing Editor, Wisconsin Law Review


  • Wisconsin
  • Illinois