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People

Howard S. Steel

Howard S. Steel

Howard S. Steel

Partner

Bankruptcy & Corporate Restructuring

Howard S. Steel

Partner

Bankruptcy & Corporate Restructuring

Howard Steel frequently represents official creditor committees, bondholders, lenders, indenture trustees, landlords and individual secured and unsecured creditors in all aspects of corporate restructuring transactions. 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, coal, financial services, gaming, real estate, and retail.

REPRESENTATIVE MATTERS

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

  • Peabody Energy: Representation of successor indenture trustee for second lien notes in the largest private coal company bankruptcy.
  • GM Ignition Switch Defect MDL Litigation: Representation of Lead Counsel as Plaintiffs’ designated counsel in the Bankruptcy Court opposing GM’s motion to enjoin plaintiffs’ economic injury claims based on the injunction contained in the bankruptcy sale order by which the assets of Old GM were transferred to New GM in the GM bankruptcy in 2009.
  • Arch Coal: Representation of successor indenture trustee for second lien notes in the Chapter 11 proceeding of one of the U.S.’s largest coal producers.
  • Canyon Ranch Hotel & Spa, Miami Beach: Representation of three homeowner associations in connection with the chapter 11 filing of Canyon Ranch Miami, a luxury, full-service, ocean front condominium hotel.
  • Dewey & LeBoeuf LLP: Representation of the Official Committee of Unsecured Creditors and the post-confirmation Liquidation Trust in the largest law firm bankruptcy case in United States history.
  • Lehman Brothers: Representation of multiple investment funds 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.
  • 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, Verestar, One to One Interactive, 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, "NML Capital v Argentina: a lesson in indenture interpretation," International Bar Association, September 2014.
  • Co-author, “Bankruptcies in Mass Torts Cases,” Litigating Mass Tort Cases, Supplement, 2012, 2013, 2014, 2015.
  • 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

PROFESSIONAL AFFILIATIONS

  • Member, American Bankruptcy Institute
  • Member, Turnaround Management Association

AWARDS AND HONORS

  • Recognized in the 2016 edition of Global Restructuring Review's "40 under 40“
  • Listed in Super Lawyers as a “Rising Star”, 2013-2014, 2014-2015

COMMUNITY INVOLVEMENT

  • Through his work with the New York City Bankruptcy Assistance Project, Howard provides legal assistance, on a pro bono basis, to individuals who are unable to afford private counsel in connection with bankruptcy matters.

BAR ADMISSIONS

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