Seth Kleinman represents clients in all areas of corporate restructuring, bankruptcy and insolvency-related matters. He regularly advises corporate debtors, ad hoc groups of lenders, term loan agents, creditors, investors, financial counterparties and other interested parties in bankruptcy-related transactioins and out-of-court workouts. Mr. Kleinman also represents purchasers of distressed assets under Section 363 of the Bankruptcy Code, as well as landlords, suppliers and other unsecured creditors in a variety of transactional and litigation-related aspects of the debtor-creditor relationship. Mr. Kleinman has been involved in bankruptcy cases in a wide range of industries across the country, including financial services, media & entertainment, oil & gas, energy, mining and minerals, transportation and healthcare, among others. He also has experience advising boards of directors and individual officers and directors in insolvency-related matters.

While earning his law degree at Northwestern University School of Law, Mr. Kleinman worked as a judicial extern to the Honorable Eugene Wedoff, Chief Judge of the Bankruptcy Court for the Northern District of Illinois.

Experience

  • Ad hoc group of senior term lenders to PetSmart, Inc., the largest specialty pet retailer in North America, with respect to the company's proposed spin-off of Chewy.com and related district court litigation.
  • Ad hoc group of first lien lenders to Cumulus Media, Inc., the owner and operator of the second largest group of radio stations in the United States in the lenders' successful opposition to the company's planned exchange offer and in the company's subsequent Chapter 11 case, which resulted in the first lien lenders, who were owed almost $2 billion, acquiring over 85 percent of the equity in the reorganized entity.
  • Ad hoc group of term lenders to iHeart Media, Inc., the owner and operator of the largest group of radio stations in the United States, with respect to the company's in-court restructuring of approximately $20 billion in indebtedness.
  • Ad hoc group of term lenders to Arch Coal, Inc., in the lenders' successful opposition to the company's proposed exchange offer and in the company's subsequent successful Chapter 11 case, which resulted in the restructuring of a $1.9 billion credit facility pursuant to which the term lenders acquiring 90 percent interest of the equity in the reorganized entity.
  • Ad hoc group of first-lien lenders and loan agent to Transtar Industries, Inc., the largest distributor of automotive transmission parts in the United States, which filed Chapter 11.
  • Ad hoc group of PIK Noteholders of Energy Future Holdings Corp. in a dispute with the company regarding the noteholders' right to payment of post-petition interest.

Credentials

Education
  • JD, Northwestern University School of Law, 2006, cum laude, Dean's List
  • BA, University of Pennsylvania, 2001, summa cum laude, Dean's List
Admissions
  • Illinois
  • New York
  • US District Court, Southern District of New York
  • US District Court, Eastern District of New York
  • US District Court, Northern District of Illinois
Activities
  • Member, American Bankruptcy Insititute (ABI)
  • Member, Turnaround Management Association (TMA)
  • Associate Editor, Northwestern University Law Review
Overview

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