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San Diego

T(619) 235-1526

Education

  • J.D., University of California, Berkeley, School of Law

  • B.S., with honors, University of California, Davis

Bar Admissions

  • California

Court Admissions

  • U.S. Court of Appeals for the Ninth Circuit

  • U.S. District Court, Southern District of California

  • U.S. District Court, Central District of California

  • U.S. District Court, Northern District of California

  • U.S. District Court, Eastern District of California

Memberships

  • UC San Diego Department of Urban Studies and Planning, California Water Law & Policy, Lecturer

  • UC San Diego Real Estate and Development Advisory Board, Chair

  • American College of Bankruptcy, Fellow

  • American Bankruptcy Institute

  • American Bar Association, Business Law Section

  • California Bankruptcy Forum, Past President and Director

  • San Diego Bankruptcy Forum, Founding Member and Past President

  • San Diego County Bar Association

  • American Bar Association, Section on Environment, Natural Resources & Water

  • Federal Bar Association

  • Colorado River Water Users Association

David L. Osias

Partner

David’s quick intellect, attention to detail, and ability to see less obvious connections are a winning combination for clients who engage him to solve legal issues stemming from water resources and creditors’ rights.

David’s combined experience as a lawyer, whose work has ranged from iconic water rights matters to returning billions of dollars to defrauded investors in equity receiverships, and as an executive, guiding strategy, staffing, solution-based pricing, and more, provides substantive value to the clients he serves. Whether routine or novel, his clients are confident that he will find a viable approach for anything that arises. In particular, David is known for his ability to find a path for resolving unique questions—where answers are not clear-cut—or sorting peculiar facts outside of established law.

Although water resources, firm management, and creditors’ rights may seem distinctly different, they do have one thing in common—scarce resources. There's not enough water for the environment, business, and population growth. A law firm has a finite supply of talent, time, and resources to be spread among many competing goals. And, by definition, no debtor-creditor problem ever arises where there is enough money. Each is familiar territory for David, where he is adept at dividing a limited pie among unlimited expectations.

Water Resources

As water supply issues become more extreme nationwide, but particularly in the West, water resources and water rights are critical for businesses to succeed. David works with clients in enterprises as diverse as real estate development, manufacturing, agriculture, solar renewables, and public utilities to resolve their water challenges through negotiation or litigation, if necessary.

Demand caused by population growth, economic activity, and migration is outpacing supply, especially in California. There, David represents real estate developers—commercial, industrial, and residential—and other businesses in all aspects of water resources, from finding water and fighting for water rights to increasing access to existing supplies and getting water to where it is needed.

Over the years, his work has covered master-planned communities, golf courses, farms, landfills, plant and tree nurseries, ranches, solar renewables, sand, aggregates, and aquaculture operations. He has appeared on behalf of his clients before state and federal courts, the California State Water Resources Control Board, and numerous local public agencies, handling significant matters involving the Colorado River, groundwater adjudications, and agriculture to urban water transfers, among others.

David is one of a handful of highly experienced legal resources in California, and beyond. Among his notable achievements, he was intricately involved in negotiating and documenting over a dozen agreements that settled the most significant water matters regarding the Colorado River in the last 50 years.

Creditors’ Rights

David is widely recognized as an authority on creditor and debtor rights in out-of-court workouts and restructurings, federal and state court receiverships, and reorganizations and liquidation bankruptcy proceedings.

Primarily, he represents creditors—national, international, and institutional investors and lenders—in restructuring distressed real estate deals and developments.

David has advised and represented secured lenders with collateral ranging from shopping malls and golf courses to hotels, casinos, office buildings, and toll roads. He has represented bankruptcy trustees and examiners in multi-million dollar cases. His creditor committee clients cover matters related to subdivision development, business-to-business e-commerce, manufacturing, hospitality, and entertainment interests, among others.

Equity Receiverships

David has handled more Securities Exchange Commission receivership cases—by size and value—than nearly any other lawyer in California. A Fellow in the American College of Bankruptcy (one of only four elected in San Diego), David has been involved in receiverships involving tens of billions of dollars of fraudulent investments, which resulted in the return of billions of dollars to investors.

A sample of major cases David has handled include representing equity receivers in:

  • a senior living and real estate development company;
  • a hedge fund;
  • a company involved in factoring medical receivables;
  • an unregistered day trading firm;
  • an internet auto-surfing program;
  • a prime bank investment scheme; and
  • several investment advisory firms.

David is an active member of the American Bankruptcy Institute and the Section of Business Law of the American Bar Association. He serves on the panel of bankruptcy mediators for the Southern District of California and is a frequent lecturer at debtor-creditor industry conferences.

Accolades

  • Selected for inclusion in The Best Lawyers in America (1995 - 2025)
  • Selected for inclusion in San Diego Super Lawyers (2007 - 2022)
  • Named the Best Lawyers' San Diego Litigation - Bankruptcy "Lawyer of the Year" (2016)
  • Named the Best Lawyers' San Diego Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law "Lawyer of the Year" (2013)
  • Named one of San Diego's Top 10 Lawyers for 2011 by the San Diego Daily Transcript
  • Awarded Turnaround Management Association's Transaction of the Year- Large Turnaround Award (2011)

David’s combined experience as a lawyer, whose work has ranged from iconic water rights matters to returning billions of dollars to defrauded investors in equity receiverships, and as an executive, guiding strategy, staffing, solution-based pricing, and more, provides substantive value to the clients he serves. Whether routine or novel, his clients are confident that he will find a viable approach for anything that arises. In particular, David is known for his ability to find a path for resolving unique questions—where answers are not clear-cut—or sorting peculiar facts outside of established law.

Although water resources, firm management, and creditors’ rights may seem distinctly different, they do have one thing in common—scarce resources. There's not enough water for the environment, business, and population growth. A law firm has a finite supply of talent, time, and resources to be spread among many competing goals. And, by definition, no debtor-creditor problem ever arises where there is enough money. Each is familiar territory for David, where he is adept at dividing a limited pie among unlimited expectations.

Water Resources

As water supply issues become more extreme nationwide, but particularly in the West, water resources and water rights are critical for businesses to succeed. David works with clients in enterprises as diverse as real estate development, manufacturing, agriculture, solar renewables, and public utilities to resolve their water challenges through negotiation or litigation, if necessary.

Demand caused by population growth, economic activity, and migration is outpacing supply, especially in California. There, David represents real estate developers—commercial, industrial, and residential—and other businesses in all aspects of water resources, from finding water and fighting for water rights to increasing access to existing supplies and getting water to where it is needed.

Over the years, his work has covered master-planned communities, golf courses, farms, landfills, plant and tree nurseries, ranches, solar renewables, sand, aggregates, and aquaculture operations. He has appeared on behalf of his clients before state and federal courts, the California State Water Resources Control Board, and numerous local public agencies, handling significant matters involving the Colorado River, groundwater adjudications, and agriculture to urban water transfers, among others.

David is one of a handful of highly experienced legal resources in California, and beyond. Among his notable achievements, he was intricately involved in negotiating and documenting over a dozen agreements that settled the most significant water matters regarding the Colorado River in the last 50 years.

Creditors’ Rights

David is widely recognized as an authority on creditor and debtor rights in out-of-court workouts and restructurings, federal and state court receiverships, and reorganizations and liquidation bankruptcy proceedings.

Primarily, he represents creditors—national, international, and institutional investors and lenders—in restructuring distressed real estate deals and developments.

David has advised and represented secured lenders with collateral ranging from shopping malls and golf courses to hotels, casinos, office buildings, and toll roads. He has represented bankruptcy trustees and examiners in multi-million dollar cases. His creditor committee clients cover matters related to subdivision development, business-to-business e-commerce, manufacturing, hospitality, and entertainment interests, among others.

Equity Receiverships

David has handled more Securities Exchange Commission receivership cases—by size and value—than nearly any other lawyer in California. A Fellow in the American College of Bankruptcy (one of only four elected in San Diego), David has been involved in receiverships involving tens of billions of dollars of fraudulent investments, which resulted in the return of billions of dollars to investors.

A sample of major cases David has handled include representing equity receivers in:

  • a senior living and real estate development company;
  • a hedge fund;
  • a company involved in factoring medical receivables;
  • an unregistered day trading firm;
  • an internet auto-surfing program;
  • a prime bank investment scheme; and
  • several investment advisory firms.

David is an active member of the American Bankruptcy Institute and the Section of Business Law of the American Bar Association. He serves on the panel of bankruptcy mediators for the Southern District of California and is a frequent lecturer at debtor-creditor industry conferences.

Accolades

  • Selected for inclusion in The Best Lawyers in America (1995 - 2025)
  • Selected for inclusion in San Diego Super Lawyers (2007 - 2022)
  • Named the Best Lawyers' San Diego Litigation - Bankruptcy "Lawyer of the Year" (2016)
  • Named the Best Lawyers' San Diego Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law "Lawyer of the Year" (2013)
  • Named one of San Diego's Top 10 Lawyers for 2011 by the San Diego Daily Transcript
  • Awarded Turnaround Management Association's Transaction of the Year- Large Turnaround Award (2011)

David is a senior member of the Environmental & Natural Resources practice group and has substantial experience in a variety of water rights, water supply and water resources matters. He has appeared on behalf of clients before state and federal courts and the California State Water Resources Control Board, and numerous local public agencies and has handled significant matters involving the Colorado River, groundwater adjudications, and agriculture to urban water transfers. David has represented a broad range of clients including real estate developers, power plant developers, and agricultural and industrial users regarding surface appropriative and riparian rights, groundwater rights, entitlements under state and federal water contracts, reasonable use, waste and conservation, water reclamation, and the sale, lease and transfer of water and water rights. David has represented clients throughout California, including the Counties of Imperial, San Diego, Los Angeles, Orange, Riverside, San Bernardino, Kern, Alameda, Monterey and Inyo, and in the State of Nevada.

David has represented several power-plant developers with regard to water supply issues including water rights and acquisition analysis for a solar power plant in the Mojave basin; water rights analysis and due diligence regarding a potential hydroelectric power plant acquisition in Northern California; water supply due diligence for reclaimed tertiary-treated water in the South San Francisco Bay area for two natural gas-fueled power plants; water supply due diligence and negotiations for two natural gas-fueled power plant sites in the Northern San Joaquin Valley; and a water rights analysis for a natural gas-fueled power plant adjacent to the Colorado River.

David is a past Editor of California Water Law & Policy Reporter, a former adjunct professor on California Water Law at the University of San Diego School of Law, and currently lectures on California Water Rights and Policy for the University of California San Diego Department of Urban Studies and Planning.

Water Resource Conference Attendance

  • Colorado River Water Users Association Annual Conference, Las Vegas – Regular attendee at two-day annual conference of lawyers, engineers and other professionals involved with the Colorado River.
  • Colorado River Symposium, Santa Fe – Regular invited attendee to bi-annual conference to discuss current issues affecting the Colorado River.
  • ULI Conference - Attendee at conference in Los Angeles on water supply issues.

Representative Water Resource Matters

  • Aquaculture Company. Represented aquaculture operation in connection with Coachella Valley groundwater rights and transfers.

Developers

  • Represented residential developers throughout California regarding Water Supply Assessments.
  • Represented developer in groundwater rights due diligence in the Desert Hot Springs area of Riverside County.
  • Represented developer regarding groundwater rights and well agreement with local water district near Lake Arrowhead, San Bernardino County.
  • Represented developer of a new subdivision in groundwater adjudication in Antelope Valley.
  • Represented developer regarding water connection fees in Riverside County.
  • Represented developer to obtain approval of residential project in the City of Marina on former Fort Ord.
  • Represented residential developer in Mammoth Lakes, California, regarding groundwater and surface water rights and related water use.
  • Represented residential development joint venture with respect to development and implementation of Otay Water District-imposed water connection allocation program.

Farmers

  • Represented investors in due diligence on groundwater bank in ranch property.
  • Represented client in obtaining groundwater conditional use permit in Imperial County.
  • Represented client in due diligence for water storage project.

Golf Course Owners and Developers

  • Represented golf course owner regarding reclaimed water purchase and use.
  • Represented client in water rights analysis regarding riparian water rights.
  • Represented golf course developer in groundwater analysis regarding golf course/residential development.
  • Represented hotel/golf course developer in surface and groundwater rights analysis.
  • Irrigation District. Represented largest irrigation district in the United States in connection with Colorado River rights and water transfer issues.
  • Landfill Developer. Represented landfill developer in analysis of groundwater and surface water rights for proposed landfill operation in San Diego County, California
  • Nursery Owner. Represented nursery owner in groundwater and surface water supply assessment for conversion of land into residential development.
  • Power Plant Developer. Represented power plant developer with respect to numerous water rights due diligence and power plant siting issues in California including water rights reviews, water supply transfers, and reclaimed water issues.
  • Ranch Owner. Represented large cattle ranch owner in Central Valley regarding water issues for conversion of portion of ranch into new residential subdivision.

Sand and Aggregate Companies

  • Represented asphalt company in Riverside County with respect to analysis of groundwater rights and representation in Mojave River adjudication proceedings.
  • Represented sand mining joint venture with respect to analysis of surface and groundwater rights relative to the Sweetwater River and the Sweetwater Authority's water rights, and representation before the County Planning Commission with respect to renewal of special use permit.

David is the senior member of the Restructuring, Insolvency & Bankruptcy practice group. He is widely recognized as an authority on creditor and debtor rights in out-of-court workouts and restructurings, federal and state court receiverships, and reorganization and liquidation bankruptcy proceedings. David has represented a broad range of clients with respect to debtor-creditor matters. Creditor clients are typically secured lenders and landlords, while debtor clients have encompassed a diverse spectrum of business enterprises. David has also represented bankruptcy trustees and examiners, as well as official creditors committees. He has served as the court-appointed examiner in a multi-million dollar bankruptcy case, and has been designated as an expert witness in a variety of cases. David has also represented federal equity receivers in numerous cases throughout California, Washington and Oregon involving more than $1.6 billion in fraudulent investments.

David is a 2010 inductee as a Fellow in the American College of Bankruptcy, and was an attorney representative for the Southern District of California to the Ninth Circuit Judicial Conference for 1997-1999. He is a past president and director of the California Bankruptcy Forum and a founding member and past president of the San Diego Bankruptcy Forum. He is also a member of the American Bankruptcy Institute, Turnaround Management Association, and the Section of Business Law of the American Bar Association. David also serves on the panel of bankruptcy mediators for the Southern District of California. David is a frequent lecturer at debtor-creditor industry conferences.

Bankruptcy & Creditors' Rights Conference Attendance

  • California Bankruptcy Forum Annual Conferences – Regular attendee at annual statewide conference of bankruptcy judges, attorneys and others practicing in the area.
  • National Conference of Bankruptcy Judges Annual Meetings – Regular attendee at national conference for bankruptcy judges, attorneys, and other professionals in the area.
  • American College of Bankruptcy annual conference – Regular attendee at annual conference of American College of Bankruptcy Fellows.

Representative Bankruptcy & Creditors' Rights Matters

SEC Receivership Cases

  • SEC v. Sunwest Management, et al., U.S. District Court, District of Oregon. Represented the Court-appointed receiver in this case, commenced in 2009, involving $300 million of defrauded investors in connection with a senior living and real estate development company.
  • SEC v. Plus Money, Inc. et al., U.S. District Court, Southern District of California. Represented the Court-appointed receiver in this case, commenced in 2008, involving $45 million of defrauded investors in connection with an investment advisory firm.
  • SEC v. Robert Louis Carver, Lincoln Funds, et al., U.S. District Court, Central District of California. Represented the Court-appointed receiver in this case, commenced in 2008, involving $24 million of defrauded investors in connection with a hedge fund.
  • SEC v. Medical Capital Holdings, Inc., et al., U.S. District Court, Central District of California. Represented the Court-appointed receiver in this case, commenced in 2009, involving $1.7 billion of defrauded investors in connection with a company primarily involved in factoring medical receivables.
  • SEC v. Tuco Trading, LLC, U.S. District Court, Southern District of California. Represented the Court-appointed receiver in this case, commenced in 2008, involving $10 million of defrauded investors in connection with an unregistered day trading firm.
  • SEC v. Charis Johnson, Lifeclicks, LLC, 12DailyPro, U.S. District Court, Central District of California. Represented the Court-appointed receiver in this case, commenced in 2006, involving $500 million of defrauded investors in connection with an Internet auto-surfing program.
  • SEC v. Learn Waterhouse, et al., U.S. District Court, Southern District of California. Represented the Court-appointed receiver in this case, commenced in 2004, involving $90 million of defrauded investors in connection with a prime bank investment scheme.
  • SEC v. Capital Consultants, LLC, U.S. District Court, Portland. Represented the Court-appointed receiver in this case, commenced in 2000, involving $922 million of defrauded investors in connection with an investment advisory firm.

Representative Bankruptcy & Creditors' Rights Clients

Representative Creditor Clients

  • Secured real estate lender with shopping mall as collateral
  • Secured lender with golf course as collateral
  • Secured lender with hotel as collateral
  • Mechanics lien holder as creditor of toll road
  • Shopping center owner regarding bankruptcy of adjoining hotel and casino
  • Shopping center owner regarding bankruptcy of tenant
  • Office building owner regarding bankruptcy of tenant

Representative Debtor Clients

  • Nutraceutical company
  • Web-based shopping search engine
  • Biotechnology company
  • Wholesale and retail golf club manufacturer
  • Golf course developer
  • Residential subdivision developer
  • Accredited private university
  • Low-income tax credit apartment partnership

Creditor Committee Clients

  • Served as OCC member for business-to-business e-commerce company
  • Represented OCC in bankruptcy of golf course and subdivision developer
  • Represented OCC in bankruptcy of manufacturing facility for airplane parts
  • Represented OCC in bankruptcy of Las Vegas hotel and casino

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