O’Melveny Worldwide

Steve Warren specializes in corporate finance, reorganizations, restructurings, and financial/bankruptcy litigation. His practice includes workouts, restructurings and bankruptcies, as counsel to both creditors and corporate debtors. Steve also represents clients in structuring complex financial transactions.

Additionally, Steve defends officers and directors in insolvency-related litigation, in which he often works in conjunction with members of our Litigation Department. His D&O representations include successful resolutions in the ATM Acquisitions litigation in Delaware Chancery Court, First Executive-Executive Life Insurance securities and policy holder litigation and the Imperial Savings-RTC litigation. He also advises clients concerning bankruptcy risks in corporate transactions.

  • Served as counsel to Kern Cal Oil for its US$145,000,000 in secured loans to All American Oil and Gas, including successful pursuit of rights in its Chapter 11 bankruptcy case, which resulted in Kern Cal acquiring the assets of the debtors
  • Acts as national bankruptcy counsel for Fannie Mae, including in the Ditech bankruptcy case concerning approximately US$52 billion in mortgage debt
  • Represented Lenado Capital Partners in approximately US$275,000,000 in claims in the Movie Gallery bankruptcy case (including senior secured revolver claims, senior secured term debt and second lien debt)
  • Served as counsel for Clearlake Capital in the successful acquisition of Ashley Stewart through a section 363 sale, named as Turnaround Deal of the Year by the M&A Advisor
  • Acted as debtor’s counsel to Hancock Fabrics, Inc.
  • Represented Warner Brothers in the MGM bankruptcy case   
  • Represented Crescent Capital in the successful work-out and resolution of its loans to Tourneau, Inc.
  • Served as debtor's counsel to Gottschalks, Inc. in its bankruptcy case
  • Served as counsel to Edison International in the restructure of its utility operations in California
  • Represented Seidler Equity Partners in the successful acquisition of Sportsman's Warehouse through a plan of reorganization
  • Acted as counsel for Broadbill Partners in the Penn Treaty insurance rehabilitation proceeding
  • Represented Tower Records (MTS Incorporated) in its successful prepackaged bankruptcy plan of reorganization, which was confirmed within 35 days after filing and restructured the company's US$110 million in public bonds
  • Represented CIGNA in the MedPartners Provider Network and KPC Medical Management bankruptcies, and served on the Official Creditors Committee in both cases
  • Represented a 16-member lender group in their US$300 million credit facility agented by Deutsche Bank to American HomePatient, a home healthcare provider
  • Served as counsel to Prudential Insurance in the successful restructure of note obligations owed by Kelly-Moore Paint Company
  • Represented a group of bank lenders agented by Wachovia in the restructure of the obligations of Ocadian Care Centers, a nursing home chain
  • Serves as national counsel to Yahoo!, Inc. in the restructure of its investments in and claims against troubled business partners
  • Served as bankruptcy and litigation counsel in Phar-Mor's successful reorganization and adversary litigation
  • Acted as bankruptcy and litigation counsel for Megafoods Stores in its Chapter 11 bankruptcy case, which resulted in the sale of operations through a confirmed plan of reorganization
  • Represented Inamed Corporation, a breast implant manufacturer, in its successful resolution of its breast implant litigation
  • Served as counsel to a 20-member bank group in leveraged buyout (LBO) fraudulent conveyance litigation
  • Served as bank group counsel in the Kroy LBO reorganization
  • Counsel to CIGNA in the Pleasant Care bankruptcy case
  • Served as counsel to a leading financial institution in the successful restructuring and payment of the obligations of Atlas Hotels


Bar Admissions

  • California

Court Admissions

  • US District Court, Central, Northern, Eastern, and Southern Districts of California
  • US District Court, District of Arizona
  • US Court of Appeals for the Ninth and Third Circuits
  • US Supreme Court


  • Stanford Law School, J.D., 1988: with distinction; Order of the Coif; ranked second in class; Urban A. Sondheimer Scholastic Award
  • Stanford University, B.A., Economics and Political Science, 1983: with distinction; Phi Beta Kappa

Honors & Awards

  • Recognized by Chambers USA in Bankruptcy/Restructuring (2011-2017, 2023-2024)
  • Recognized by Best Lawyers® for Bankruptcy & Creditor Debtor Rights / Insolvency & Reorganization Law in Los Angeles, CA (2022-2024); Steve has been listed in Best Lawyers® since 2006
  • Recommended by The Legal 500 US for Restructuring (including Bankruptcy): Corporate
    (2017, 2019, 2022, 2024)
  • Recommended in Restructuring & Insolvency by Who’s Who Legal (2018-2019)
  • Named a “Super Lawyer” in a survey conducted by Law & Politics Media Inc. and published in Los Angeles magazine
  • Named a “Super Lawyer” in Super Lawyers - Corporate Counsel Edition

Professional Activities


  • The Honorable Harry L. Hupp, US District Court, Central District of California


  • American Bankruptcy Institute (“ABI”) (elected “Best of ABI” speaker); Financial Lawyers Conference; Los Angeles County Bar Association, Commercial Law and Bankruptcy Section


  • “Distressed Healthcare: Significant Considerations For Buyers, Sellers, Lenders, And Borrowers,” American Health Lawyers Association Annual Conference 2009, Washington, D.C.
  • “A Creditors’ Bargain Perspective of FDIC Insolvencies,” Financial Services Yearbook, Volume 1
  • “With Friends Like These: Protecting Participants in Integrated Delivery Systems from Bankruptcy and Insolvency Risks,” 1995 Health Law Handbook
  • “Feasting in a Flak Jacket: Bankruptcy Risks and Opportunities for Solvent Health Care Organizations,” 1998 Health Law Handbook