O’Melveny Worldwide

A partner in the Restructuring group, Matthew represents debtors, ad-hoc creditor groups, and individual creditors in a variety of distressed situations, including chapter 11 reorganizations, out-of-court debt restructurings, acquisitions of distressed companies, debtor-in-possession financings, and other corporate reorganizations. Matthew has extensive experience in restructurings across a variety of industries, including retail, energy, exploration, transportation, and municipal debt restructurings.

Debtor Representations:

  • Ongoing representation of the Government of Puerto Rico with respect to the financial restructuring of more than US$100 billion of obligations under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).
  • Representation of the (i) Government Development Bank of Puerto Rico, (ii) the Puerto Rico Public Finance Corporation (ii) the Puerto Rico Industrial Development Corporation, and (iv) the Puerto Rico Tourism Development Fund in comprehensive debt restructurings conducted under Title VI PROMESA. Collectively these transactions have consensually restructured more than US$8 billion in obligations.
  • Isagenix International in its complex out-of-court balance sheet restructuring, which achieved nearly unanimous creditor support.
  • Verso/NewPage Corporation, the leading North American producer of printing and specialty papers, in its prearranged chapter 11 case.
  • Cal Dive International, an E&P marine contractor, in its bankruptcy proceedings, which garnered recognition as Turnaround Atlas Awards’ Cross Border Distressed M&A Deal of the Year (Middle Market).
  • Standard Amusements in its chapter 11 case, which resulted in a settlement of dispute with Westchester County concerning management and operation of Rye Playland.
  • Colt Defense, one of the nations’ oldest firearm manufacturers, in its chapter 11 case. The Colt Defense restructuring was the recipient of a Turnaround Atlas Award for the “Turnaround of the Year.”
  • Fashion boutique francesca’s® in its chapter 11 case, which resulted in a sale to a purchaser that kept open more than half of the company’s 550 stores.
  • California gas power plant La Paloma in its chapter 11 case.
  • Independent power company Entegra Power Group LLC in its chapter 11 proceedings.

Creditor Representations:

  • An ad hoc group first lien lenders in the restructuring of Belk Inc., which was one of the most successful and consensual chapter 11 cases in recent history—concluding in less than six hours.
  • An ad hoc group of noteholders in the restructuring of Bruin Energy, an oil and gas exploration and production company.
  • An ad hoc group of noteholders in the restructuring of Homer City, a coal-fired power plant, in a prepackaged chapter 11.
  • Funds affiliated with Franklin Advisers, Inc. as majority DIP lender and stalking horse buyer in chapter 11 case for Appvion Paper.
  • Wilmington Trust, as second-lien term agent, in Bennu Oil & Gas chapter 11 proceedings
  • Avenue Capital in Quiznos prearranged chapter 11 case.
  • The Trustee for certain pass-through certificate holders in the Edison Mission Energy chapter 11 cases.

Bankruptcy Litigation

  • Advised Burnham Sterling and Babcock & Brown Securities in litigation against chapter 11 debtor Avianca Holdings S.A. to successfully secure payment of over US$4.5 million in lease obligations for aircraft initiator fees.
  • Represented joint provisional liquidators in obtaining recognition under chapter 15 of the Bankruptcy Code of a Cayman provisional liquidation proceeding over an objection to recognition and a motion to transfer venue.
  • Sound Point Capital Management in obtaining dismissal of US$2 billion adversary proceeding brought by equity sponsor Harbinger Capital Management in the chapter 11 cases of LightSquared.

Illustrative Pro-Bono Experience

  • Obtained asylum for a gay man from Russia, who was beaten to near death when outed and air lifted to Armenia for life saving treatment before fleeing to the United States.
  • Obtained Special Immigration Juvenile Status for a young man from El Salvador who was in a van that flipped over during a high speed chase at the US-Mexico border that killed ten people, including the client’s twin brother.
  • Obtained Special Immigration Juvenile Status for young immigrant siblings from Honduras, who came to the United States to flee and neglect.
  • Obtained Special Immigration Juvenile Status for a young girl from Honduras who came to the United States to escape severe gang violence and threats to her life.

Admissions

Bar Admissions

  • New York

Court Admissions

  • US District Court, Southern District of New York

Education

  • Brooklyn Law School, J.D.: magna cum laude; Brooklyn Law Review; Moot Court Honor Society; American Bankruptcy Institute Medal for Excellence
  • University of Delaware, B.A.: Economics and Political Science; Phi Beta Kappa

Professional Activities

Extern

  • Honorable Jed S. Rakoff, US District Court, Southern District of New York
  • US Attorney’s Office, Southern District of New York
  • US Securities and Exchange Commission

Author

  • “A Narrow Interpretation of Section 546(e),” Law360 (April 2013)

Co-Author

  • “The Rise of the RSA: Driving Value to Streamline Negotiations in a Restructuring Process,” Navigating Today’s Environment: The Directors’ and Officers’ Guide to Restructuring (February 2023)
  • “SDNY Clarifies Availability of Administrative Priority for Postpetition Contract Breaches,” New York Law Journal (November 2022)
  • “Decisions Address FDIC Claims to Defunct Bank Tax Refunds,” New York Law Journal (November 2013)
  • “Restructuring and Insolvency in United States: Overview,” Practical Law Company (October 2013)
  • “Seventh Circuit Addresses Questions Left Open by Stern v. Marshall,” New York Law Journal (September 2013)
  • “Revocation of Tax-Pass Through Status Not Reversible in Bankruptcy,” New York Law Journal (July 2013)