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Howard S. Steel

Howard S. Steel

Howard S. Steel

Partner

Bankruptcy & Corporate Restructuring

Howard S. Steel

Partner

Bankruptcy & Corporate Restructuring

Howard Steel has represented numerous official creditor committees, bondholders, financial institutions, private equity investors, indenture trustees, landlords and individual secured and unsecured creditors in all aspects of corporate restructuring transactions involving clients' interest in the United States, Europe, Asia, and South America.  He has extensive experience in SIPA proceedings, mass tort cases, and distressed debt trading. His experience extends to a wide variety of industries, including automotive, financial services, gaming, real estate, and retail. 

REPRESENTATIVE MATTERS

Recent representations for which Howard has had primary or significant responsibilities include:

  • Dewey & LeBoeuf LLP: Representation of the Official Committee of Unsecured Creditors in the largest law firm bankruptcy case in United States history.
  • Lehman Brothers: Representation of multiple investment funds aggregating hundreds of millions in allowed claims in the Chapter 11 cases, SIPA proceeding and UK Administration.
  • Nebraska Book Company Inc.: Representation of an ad hoc group of senior secured noteholders in the Chapter 11 case of Nebraska Book Company, Inc., an industry leader in the college bookstore marketplace. The company emerged from Chapter 11, restructuring approximating $450 million in debt and with the senior secured noteholders receiving all of the equity of the reorganized business.
  • Visteon Corporation: Representation of the Official Committee of Unsecured Creditors of Visteon Corp., a Fortune 500 global automotive supplier, in successfully confirming a plan of reorganization, restructuring aggregate liabilities of approximately $5.3 billion, and generating a significant distribution for unsecured creditors.
  • Dipak Desai M.D. and Endoscopy Center of Southern Nevada LLC: Representation of the Official Committee of Unsecured Creditors of Dipak Desai M.D. in Chapter 11 bankruptcy and related cases, involving mass torts connected to a hepatitis outbreak in the Las Vegas area. 


Other representations for which Howard has had primary or significant responsibility include:

  • Green Valley Ranch Gaming, LLC (Official Committee of Unsecured Creditors)
  • Verestar, Incorporated (Official Committee of Unsecured Creditors)
  • One to One Interactive, LLC (Official Committee of Unsecured Creditors)
  • Representation of major creditors in other proceedings including: MF Global, Washington Mutual, ASARCO, Delphi, Solutia, Delta, New Century, American Business Financial Services, Circuit City, Linens n’ Things, Bally Total Fitness, Steve & Barry’s and Movie Gallery.

 PUBLICATIONS

  • Co-author, "Five Steps Hedge Fund Managers Should Take to Mitigate Avoidance and Disallowance Risks After Delaware Court Finds That Avoidance and Disallowance Risks Travel with Trade Claims," The Hedge Fund Law Report, Vol. 5, No. 24, June 14, 2012
  • Co-author, “Bankruptcies in Mass Torts Cases,” Litigating Mass Tort Cases, Supplement, 2012

PROFESSIONAL AFFILIATIONS

  • American Bankruptcy Institute
  • Turnaround Management Association

BAR ADMISSIONS

  • New York
  • United States District Court for the Southern District of New York
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