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Steven M. Abramowitz

Steven M. Abramowitz Partner, Restructuring & Reorganization

Steven’s principal areas of practice are restructuring, bankruptcy, leveraged finance, creditors’ rights, and acquisitions (with an emphasis on transactions involving leveraged or distressed entities).

He represents borrowers/debtors, investment funds, individual lenders, agented lender groups, investors, directors, noteholders, vendors, acquirers, investment banks, and committees in complex restructurings, acquisitions and financings—both in the context of formal bankruptcy proceedings and in other “distressed” settings. In addition, Steven represents both troubled entities and financially strong entities in reorganizations, divestitures, and restructurings, as well as in complex secured loan facilities, Rule 144A debt offerings, private placements, and other financings.

Experience Highlights

  • MILFAM II L.P. and AB Opportunity Fund L.P. in connection with acquisition through chapter 11 plan of 100% of the equity of the casual restaurant chain Cosi, Inc. (District of Massachusetts)
  • Terminal Investment Limited, SA in connection with acquisition of interests in Long Beach and Seattle Port facilities from Hanjin Shipping Co. Ltd. In chapter 15 proceedings in District of New Jersey
  • Eureka Hunter Pipeline LLC and Morgan Stanley Infrastructure Partners in connection with resolution of mid-stream contracts and joint venture issues in chapter 11 proceedings in District of Delaware of Magnum Hunter Resources Corporation
  • Sanjel Corporation and affiliated entities as debtors in chapter 15 proceedings in Western District of Texas in relation to foreign main proceeding under Canadian Companies’ Creditors Arrangement Act (CCAA) and sale of domestic and international assets in the two proceedings 
  • Resource Energy Partners LLC  (sponsored by Apollo Global Management) as purchaser of substantially all of the E&P assets of American Eagle Energy Corporation pursuant to Section 363 of the Bankruptcy Code (District of Colorado)
  • Trico Marine Services and affiliated entities as debtors in chapter 11 proceedings in District of Delaware and in out-of-court restructurings and debt exchange offers relating to foreign affiliates
  • Bundesbank (German Central Bank) as special counsel in connection with issues arising from chapter 11 proceedings of Lehman Brothers Holdings, Inc. in United States Bankruptcy Court for the Southern District of New York
  • United Airlines Inc. in connection with Court approved termination of regional air services arrangements and claims in chapter 11 proceedings of Pinnacle Airlines Corp. in United States Bankruptcy Court for the Southern District of New York

Recent Creditor/Investor Representations

  • Principal creditor group and sponsors of chapter 11 plan for casual restaurant chain Cosi, Inc. (District of Delaware) 
  • A private equity portfolio company in connection with purchase of E&P assets from Samson Resources Corp. (District of Delaware)
  • A private equity firm in connection with purchase of international operations of Cal Dive International, Inc. pursuant to Section 363 of the Bankruptcy Code (District of Delaware) 
  • A mezzanine lender in connection with secured debt/warrant investment in a domestic exploration and production company
  • Debt investment fund in emergency "add-on" emergency second lien facility to address reserve-based borrowing base revaluation
  • Second lien lender in connection with chapter 11 proceedings of Loehmann's Holdings, Inc. (Southern District of New York) and confirmation of chapter 11 Plan
  • A private equity firm in connection with board representation and investment exit in a distressed E&P company
  • A defendant in significant fraudulent transfer action brought by an estate representative of Pacific Energy Resources Ltd. (District of Delaware)
  • A secured lender group to a pipeline company in chapter 11 proceedings of Flying J,  Inc. and Longhorn Pipeline L.P. (District of Delaware)
  • Principal secured lender in a chapter 11 case of Phoenix Coyotes NHL franchise (District of Arizona)
  • Represented a financial advisor to creditors' committee in connection with bankruptcy court litigation relating to engagement

Recent Borrower/Debtor Representations

  • Special Counsel to foreign representative in chapter 15 case (Southern District of Texas) of a Canadian-based manufacturer
  • Special Counsel to Canadian Debtors in chapter 15 proceedings in District of Delaware
  • Served as lead restructuring counsel for a broadcasting company in connection with out-of-court restructuring and chapter 11 planning
  • Served as lead restructuring counsel for a publishing company in connection with out-of-court restructuring

Additional Notable Experience

  • Represent investment funds and other lenders in connection with origination of leverage finance transactions ($10 million-$400 million) in a variety of industries, including energy, textiles, major league sports franchises, and payment processing
  • Represent investment funds on a regular basis in connection with the analysis of new investments and purchase of significant debt and equity interests in distressed and/or highly leveraged issuers
  • Represent financial institutions in connection with risk mitigation relating to a financial contracts and arrangements with challenged counterparties

Contact Details

New York

T +1.212.237.0137
F +1.917.849.5381
sabramowitz@velaw.com
666 Fifth Avenue
26th Floor
New York, NY 10103-0040
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Steve's Practices

  • Columbia University Law School, J.D., 1990 (Senior Editor, Columbia Law Review; Kent Scholar; Stone Scholar)
  • University of Pennsylvania, B.S., Economics magna cum laude, 1985
  • Admitted to practice: New York
  • Judicial clerk for the Honorable Michael B. Mukasey, U.S. District Court for the Southern District of New York, 1990–1991
  • The New York Times Magazine, New York Super Lawyer, Bankruptcy & Creditor/Debtor Rights; Securities & Corporate Finance, 2006−2014
  • Legal 500 U.S., Corporate Restructuring: Including Bankruptcy, 2016
  • Selected to the New York Metro Super Lawyers list, Super Lawyers (Thomson Reuters), 2006−2017
  • Chambers USA, Bankruptcy/Restructuring Law, 2011−2014
  • Member: Committee on Bankruptcy and Corporate Reorganization, Association of the Bar of the City of New York
  • Member: American Bankruptcy Institute
  • Member: Turnaround Management Association