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Overview
Roger G. Schwartz is a partner in the Financial Restructuring group at Paul Hastings and is based in the firm’s New York office. Roger represents public and private companies, private credit, direct lending and hedge funds, strategic and financial buyers, and investors in a broad range of restructuring and special situations matters, including Chapter 11 cases, out-of-court restructurings and workouts, and distressed and opportunistic acquisitions, sales and financings. He also advises equity sponsors, portfolio companies and directors and special committees in connection with liability management transactions and corporate governance issues in distressed and out-of-court situations and transactions.
Prior to returning to private practice, Roger was a senior counsel of workouts at General Electric Capital Corporation (GE Capital), where he provided legal oversight for a multibillion-dollar portfolio of GE Capital lending commitments. While at GE Capital, Roger also acted as a director of litigation where he directed legal strategy and case management for a diverse set of commercial litigation, compliance and regulatory matters.
Roger is a frequent lecturer, speaker and author on restructuring, bankruptcy and insolvency topics and he has served as Co-Chair, Advisory Board member, moderator and panelist for numerous American Bankruptcy Institute conferences.
Roger was recognized by Turnarounds & Workouts as a member of its 2020 Outstanding Restructuring Lawyers List.
Education
- University of Chicago, J.D.
- Hobart William Smith Colleges, B.A. (magna cum laude, with honors, Phi Beta Kappa)
Representations
- Aerotech Miami Inc. d/b/a iAero Tech, et al. in connection with the companies’ Chapter 11 cases and subsequent 363 sale to Eastern Airlines
- Blue Torch Finance as DIP agent, prepetition administrative agent and joint venture purchaser through credit bid of substantially all the assets of PGX Holdings, Inc. and its affiliated companies in connection with their Chapter 11 cases
- Blue Torch Finance as DIP agent, prepetition agent and credit bid purchaser of substantially all the assets of Near Intelligence, Inc. and its affiliated companies in connection with their Chapter 11 cases
- Blue Torch Finance as DIP agent, prepetition agent and credit bid purchaser of substantially all the assets of Troika Media Group, Inc. and its affiliated companies in connection with their Chapter 11 cases
- Brightwood Capital Advisors as DIP agent, prepetition agent and joint-venture purchaser of substantially all the assets of Delphi Behavioral Health Group, LLC and its affiliated companies in connection with their Chapter 11 cases
- Steering Committee of first-lien term lenders in connection with approximately $1.3 billion out-of-court balance sheet restructuring of leading production, entertainment and event technology company
- Ad hoc group of first-lien term loan lenders in connection with comprehensive restructuring and recapitalization of the Totes Isotoner balance sheet
- KKR Credit Advisors as prepetition lender and joint-venture purchaser through partial credit bid of substantially all the assets of Borden Dairy through 363 sale in connection with the company’s Chapter 11 cases
- Monitronics International in connection with structuring, negotiation and execution of multiple liability management and restructuring transactions involving approximately $1.8 billion of indebtedness and the company’s subsequent Chapter 11 cases
- Carlyle, HCR Manorcare, Inc. and its non-debtor affiliates related to restructuring efforts, preparation and execution of HCR Manorcare’s Chapter 11 case and ultimate merger transaction with ProMedica, resulting in consensual resolution of approximately $7.1 billion of debt, liability and financing obligations owed by HCR Manorcare
- Leading global real estate investment, operating and development company in connection with out-of-court restructuring of international student housing joint venture
- Administrative agent and lender in connection with going concern UCC strict foreclosure and subsequent refinancing of leading email security company
- Administrative agent and lender in connection with UCC strict foreclosure related to biofuel company
- Term lender in out-of-court restructuring of approximately $130MM of indebtedness owed by leading provider of solutions for commercial and industrial refrigeration systems
- Lender in connection with contested UCC foreclosure and subsequent refinancing of indebtedness owed by leading home medical equipment company
- Leading architecture and engineering firm in connection with liability management initiatives and out-of-court balance sheet restructuring activities and strategies
- Equity sponsor and leading retail product branding and channeling company related to assessment of potential liability management transactions and analysis of capital structure and documentation flexibility involving approximately $2.8 billion of indebtedness
- For-profit retailer concerning potential restructuring alternatives and contingency planning involving approximately $1.1 billion of indebtedness
- Equity sponsor and marine transportation and manufacturing company in connection with structuring and negotiation of potential liability management transactions and assessment of alternatives involving approximately $1.2 billion of indebtedness
- Major financial institution related to the workout and litigation management of loans to multiple real estate SPEs with aggregate exposure of approximately $125 million
- Merlin Media in connection with the Cumulus Media Chapter 11 cases and related litigation concerning rejection of put/call and marketing agreements and resulting characterization and treatment of claims
- Platinum Equity related to its 363 acquisition of the Hunterstown power generation facility and assets through the GenOn Chapter 11 cases
- Hedge fund in connection with alternative DIP and Plan proposals and related negotiations in connection with the Woodbridge Companies’ Chapter 11 cases
- Riverstone Investment Group related to $225 million exit/emergence financing for New Permian LLC, in connection with consummation of the Breitburn Energy Partners LP Chapter 11 plan of reorganization
- GECC in connection with defense of adversary proceeding commenced by Trustee for the Petters Company Chapter 11 cases seeking “clawback”/fraudulent transfer recovery of approximately $300 million in principal, interest and fees from GECC related to the $3 billion Petters Ponzi scheme
- GECC related to four separate “copy-cat” suits filed in state and federal courts by former lenders or bankruptcy trustees on behalf of estates that lost significant sums in the Petters Ponzi scheme seeking damages aggregating more than $3 billion directly against GECC on tort-based aiding and abetting and civil conspiracy theories
- Antares Capital as administrative agent in connection with going concern UCC private foreclosure sale of leading inventory tracking and logistics company resulting in full satisfaction of approximately $222 million of senior secured first lien debt
- Arbitration award holder as party to a purchase and sale agreement conveying right, title and interest in substantial international arbitration award against a sovereign entity
- Capital One as administrative agent related to the workout, litigation management and successful refinancing exit of a $150 million credit facility with borrower facing multiple investigatory and legal challenges
- Greater China Intermodal as vessel manufacturer, owner and creditor in the Hanjin Shipping Korean insolvency proceedings and related US chapter 15 proceedings
- Antares Capital as administrative agent in connection with out-of-court debt-for-equity lender acquisition of a leading outdoor sports recreation equipment manufacturer and related litigation with the company’s equity sponsor to enforce payment under a sponsor guarantee agreement
- Coliseum Capital in connection with a preferred equity investment in Universal Technical Institute, a leading for-profit education provider/operator
- Antares Capital as administrative agent in out-of-court restructuring and subsequent refinancing exit of approximately $152 million senior secured first lien credit facility to audio-visual technology and services company
- GECC as pre- and post-petition administrative agent related to the DIP financing and 363 lender credit bid acquisition of SP Newsprint Holdings and affiliates through their Chapter 11 cases in satisfaction of approximately $265 million of prepetition senior secured first lien debt
- Carlyle and Carlyle-affiliated Board members in connection with preparation and execution of the prepackaged Chapter 11 cases for its portfolio company, Oriental Trading Company, and related subsidiaries and affiliates
- GECC as pre- and post-petition and exit financing administrative agent in connection with the DIP financing and 363 lender credit bid acquisition of Medical Staffing Network through its Chapter 11 case in satisfaction of approximately $100 million of senior secured first lien debt
- Platinum Equity as successful stalking horse 363 bidder for majority of assets in the Genmar Holdings Chapter 11 cases
- GECC as lender, JV partner and creditor in the Capmark Financial Group Chapter 11 cases
- UBS as pre- and post-petition and exit financing administrative agent in connection with the prepacked Chapter 11 cases of Electrical Components International, resulting in the consensual restructuring and resolution of approximately $250 million of senior secured first lien debt and $60 million of secured second lien debt
- Unsecured Creditors Committee of Advanta Corporation in the Advanta Chapter 11 cases involving unsecured claims in excess of $360 million
- FTI in its capacity as the Liquidating Trustee for the Advanta Liquidating Trusts created pursuant to the Advanta Chapter 11 liquidating plan
Matters may have been handled prior to joining Paul Hastings.