Todd F. Maynes, P.C. - Partner

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Todd F. Maynes, P.C.

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Chicago
Phone: +1 312-862-2485
Fax: +1 312-862-2200
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Professional Profile

Todd Maynes, a partner in Kirkland's Chicago office, focuses his practice on the tax aspects of debt restructuring, bankruptcy and tax litigation. Todd has served as Chair of the Planning Committee for both the University of Chicago Federal Tax Conference and the Chicago-Kent College of Law Federal Tax Institute. He teaches bankruptcy taxation at Northwestern University School of Law, previously taught advanced income taxation at Chicago-Kent College of Law, and lectures regularly at the University of Michigan Law School. Todd is the only currently practicing tax attorney who is a member of the National Bankruptcy Conference. He is also co-chairman of the Kirkland & Ellis Finance Committee, chairman of the Kirkland & Ellis Benefits Committee, member of the Firm's Operations Committee, administrator for the Firm's retirement plans and Tax Matters Partner for the Firm.

Todd has represented corporations and individuals before the United States Supreme Court, the United States Court of Appeals, the United States Tax Court, the United States Court of Claims, federal district court and various state courts. He has been named in Chambers USA, America's Leading Lawyers for Business since 2004. Todd has been the lead tax advisor in numerous major bankruptcies and restructurings, including United Airlines, Conseco, Calpine, Charter Communications, Visteon and WR Grace. The Chambers USA 2014 edition had commentators praise him as a "terrific lawyer" who is "integral on an international basis." Chambers USA also said that Todd has a "spectacular" reputation in the bankruptcy tax area, and is a "talented and very smart man." Todd was the principal tax attorney in structuring the Charter Communications bankruptcy and obtained a favorable IRS ruling on that transaction, called by the federal bankruptcy court as perhaps the "largest and most complicated prepackaged bankruptcy in history."

Among his prominent court victories are his victories for United Airlines in the United States Tax Court and in the United States Court of Claims, both of which dealt with the tax treatment of per diem payments made by airlines to flight crews, and his victory in the United States Tax Court on behalf of General Motors to determine the tax treatment of low interest-rate loans offered by car manufacturers through their financing subsidiaries.

Todd has been involved extensively in the representation of airlines. He was the principal tax attorney for United Airlines during its bankruptcy, and was special tax counsel to each of Delta Airlines and Northwest Airlines in their bankruptcies. Todd was the lead attorney representing members of the airline industry in obtaining a favorable ruling from the IRS on the tax treatment of service fees, such as baggage fees, cancellation fees, change fees and related service offerings.

Todd has been listed in The Best Lawyers in America, The Legal 500 U.S. and as one of Illinois' Super Lawyers. He has published many articles on tax matters, speaks frequently at tax conferences, and is the author of the BNA Portfolio on Start-Up Expenses. The Legal 500 U.S. reports that Todd "is rated as 'a brilliant lawyer' who is 'a fighter, but canny enough to know when to take a deal.'"

Significant Transactions

Principal Tax Attorney for:

  • United Airlines Bankruptcy

  • Conseco Bankruptcy

  • Calpine Bankruptcy

  • Charter Communications Bankruptcy (transaction described by court as the "most complex prepackaged bankruptcy in history")

  • Special tax adviser to Northwest Airlines and Delta Airlines in their bankruptcies


Representative Matters

Significant Litigation Matters

  • United Airlines v. United States, 2001-2 U.S.T.C. 50,577 (U.S. Court of Claims, Aug. 10, 2001) (Victory for United Airlines)

  • United Airlines v. Commissioner, 117 T.C. 7 (2001) (Victory for United Airlines)

  • General Motors Corporation v. Commissioner, 112 T.C. No. 9 (1999) (Victory for General Motors)

  • Golden Belt Telephone Association v. Commissioner, 108 T.C. 498 (1997) (Victory for Golden Belt)

  • Pittway Corp. v. United States, 97-1 U.S.T.C. 70,069 (7th Cir. 1996) (Victory for U.S.)

  • Chicago Board of Trade v. Commissioner, 106 T.C. 369 (1996) (Victory for Chicago Board of Trade)

  • Beauty Acquisition Corporation v. Commissioner, 69 T.C.M. 1971 (1995) (Victory for Beauty Acquisition)

  • CF Industries v. Commissioner, 62 T.C.M. 1249 (1991), aff'd as modified, 995 F.2d 101 (7th Cir. 1993), clarified on rehearing, 67 T.C.M. 2397 (1994)) (Victory for CF)

  • Keystone Consolidated Industries v. Commissioner, 60 T.C.M. 1423 (1990), aff'd, 951 F.2d 76 (5th Cir. 1992), rev'd, 113 S. Ct. 2006 (1993) (Victory for Keystone at Tax Court and Court of Appeals, reversed at Supreme Court)


Memberships & Affiliations

Chair, The University of Chicago Federal Tax Conference (2010-2012)

Chairman, Chicago-Kent Federal Tax Institute (2005-2010)

Board Member, Chicago-Kent Graduate Tax Program

Conferee, National Bankruptcy Conference

Tax Matters Partner for Kirkland & Ellis LLP

Co-Chair of Kirkland & Ellis LLP Finance Committee

Chairman of Kirkland & Ellis LLP Benefits Committee

Administrator for Kirkland & Ellis Retirement Plan


Seminars

2013 Texas Federal Tax Institute
"Tax Issues for Troubled Companies"

2013 PricewaterhouseCoopers Global Forum
"Current Developments in Law Firm Compensation"

2013 PLI Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings
"Tax Strategies for Financially Troubled Businesses and Other Loss Companies"

2012 PLI Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings
"Tax Strategies for Financially Troubled Businesses and Other Loss Companies"

2011 PLI Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings
"Tax Strategies for Financially Troubled Businesses and Other Loss Companies"

2010 PERE Forum: Realigning the GP-LP Relations in the Bold New Era of Real Estate Investment
"Taxing the Workout"

2009 PLI Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings
"Tax Strategies for Financially Troubled Businesses and Other Loss Companies"

2009 Southern Federal Tax Institute
"How Do You Spell Relief: The Corporate & Partnership Perspectives"

2009 NYU Institute on Federal Taxation
"Workout & Bankruptcy Issues"

2009 American Bar Association Joint Fall CLE Meeting
"Debt Restructurings of Real Estate Investments"

2008 University of Chicago Federal Tax Conference
"Taxation of Debt Instruments in Distressed Situations"

2008 PLI Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings
"Tax Strategies for Financially Troubled Businesses and Other Loss Companies"

2008 National Multistate Tax Symposium
"M&A Breakout - State Taxation of Troubled Companies"

2008 American Bar Association Tax Section Semi-Annual Meeting
"State Tax Consequences of Financial Restructurings"

2008 TEI, Colorado Chapter Annual Meeting
'Economic Nexus"

2007 PLI Mergers & Acquisitions Conference
"Tax Strategies for Financially Troubled Businesses and Other Loss Companies"

2007 American Bar Association Tax Section Semi-Annual Meeting
"Tax Aspects of Restructurings of Foreign Corporations in U.S. Courts"

2006 PLI Mergers & Acquisitions Conference
"Tax Aspects of Bankruptcy Restructurings"

2004-2011 Chicago-Kent Federal Tax Institute

2002 Chicago-Kent Federal Tax Conference
"Recent Developments in Spin-Offs"

1999 American Conference Institute
"Recent Developments in Transfer Pricing"

1998 Chicago-Kent Federal Tax Conference
"Recent Developments in Federal Tax Litigation"

1997 American Bar Association Tax Section Meeting
"Start-Up Expenses"

1996 Seventh Circuit Court of Appeals Judicial Conference
"Effective Oral Advocacy"

1996 Chicago-Kent Federal Tax Conference
"U.S. Tax Court Litigation"

1995 University of Chicago Federal Tax Conference
"Voting Rights in Tax Planning"

1995 IIT/Chicago-Kent Federal Tax Institute
"Recent Developments in Tax Accounting"


Prior Experience

Kirkland & Ellis Partner Since 1993

Law Clerk to Judge Kenneth F. Ripple, United States Court of Appeals for the Seventh Circuit (1987-88)

Adjunct Faculty – Northwestern University Law School (2010 – forward)

  • Bankruptcy Taxation

Adjunct Faculty — Chicago-Kent Law School (1993 to 2010)

  • 1992-1994 - Corporate Reorganizations

  • 1995-2009 - Advanced Income Taxation


Courts

U.S. Supreme Court

U.S. Court of Appeals for the Seventh Circuit

U.S. Court of Appeals for the Fifth Circuit

U.S. Tax Court

U.S. Court of Federal Claims

U.S. District Court (N.D. Illinois)

U.S. District Court (N.D. Indiana)

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