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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2460
E:
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Lawrence V. Gelber is a partner in the New York office where his practice concentrates in the areas of distressed mergers & acquisitions, debtor-in-possession financing, corporate restructuring, creditors' rights and prime brokerage insolvency/counterparty risk. Larry’s extensive experience in Chapter 11 reorganization cases includes his representation of debtors, secured and unsecured creditors, lenders, investors and acquirers. His debtor representations have included Quigley Company Inc., NTL Inc., Safety-Kleen Corp., Fansteel Inc., and CAI Wireless Systems Inc. Among his lender and creditor representations are Ableco Finance LLC, Cerberus Partners LP, Silver Point Capital LP, and Wells Fargo Foothill Inc. Investors and acquirer representations include Cerberus Capital Management LP, Prentice Capital Management LP, Tinicum Inc. and Pouschine Cook Capital Management LLC.
Recognized by The Legal 500 United States as a leader in his field, Larry is an active member of the Turnaround Management Association, the American Bankruptcy Institute, the New York City Bar Association and the American Bar Association's Section of Business Law. He is a contributor to The Bankruptcy Strategist and has spoken at conferences sponsored by the American Bankruptcy Institute, the William J. O'Neill Great Lakes Regional Bankruptcy Institute and other organizations. Some recent presentation topics include “M&A in Bankruptcy,” “Counterparty Relationships” and “Selected Bankruptcy Considerations in the Acquisition of Distressed Assets.” After receiving his B.A., magna cum laude, from Tufts University, Larry obtained his J.D., cum laude, from New York University School of Law.
Selected Representations
Reorganization Cases (Debtor Representations)
Quigley Company Inc., NTL Inc., Safety-Kleen Corp., Fansteel Inc., CAI Wireless Systems Inc., Brazos Sportswear Inc., Mid-American Waste Systems Inc., United Merchants & Manufacturers Inc., Victoria Creations Inc., Wang Laboratories Inc.
Secured/Unsecured Creditors
Ableco Finance LLC, Cerberus Capital Management LP, Silver Point Capital LP, Wells Fargo Foothill Inc., Prentice Capital Management LP, N.Y. District Council Carpenters Benefit Funds, IUE Pension Fund, UNITE HERE National Health Fund, Monro Muffler Brake Inc.
Investors/Acquirers
Cerberus Capital Management LP, Prentice Capital Management LP, Tinicum Inc., Pouschine Cook Capital Management LLC, Castle Harlan Inc., Greywolf Management, Highbridge Capital Management, Kings Road Investments Ltd., Kohlberg Kravis Roberts & Co., Monro Muffler Brake Inc., Leucadia National Corp., Regiment Capital Advisors LP.
Selected Publications
“Bankruptcy Court Approves Plan to Liquidate CDO,” SRZ Client Alert, Jan. 19, 2012 (co-author)
“Must Credit Bidding Be Permitted In Plan Sales To Satisfy The Bankruptcy Code’s Fair And Equitable Standard?: How The Third And Seventh Circuits Reached Different Answers To The Same Question,” Norton Bankruptcy Law Adviser, December 2011 (co-author)
“Secured Creditors’ Credit Bid Rights Under Cramdown Plan,” Equipment Leasing Newsletter, December 2011 (co-author)
“UK Special Administration Regime,” SRZ Client Alert, Nov. 3, 2011 (co-author)
“Fifth Circuit Shows Reorganization Investors How to Get and Keep an Expense Reimbursement Order,” Pratt’s Journal of Bankruptcy Law, October 2011 (co-author)
“Zais Investment Grade Limited VII — CDO Noteholders Take Advantage of Chapter 11,” SRZ Client Alert, October 3, 2011 (co-author)
“Fifth Circuit Shows Reorganization Investors How to Get and Keep an Expense Reimbursement Order,” SRZ Client Alert, September 9, 2011 (co-author)
“Seventh Circuit Upholds Secured Creditors’ Credit Bid Rights Under Cramdown Plan,” The Bankruptcy Strategist, September 2011 (co-author)
“Lehman Brothers Disclosure Statement Approved,” SRZ Client Alert, August 31, 2011 (co-author)
“Bankruptcy Claims Trading Orders: Who Is Watching,” Bankruptcy Law360, August 29, 2011 (co-author)
“Bankruptcy Court Approves Procedures for Determining Allowed Amounts of Structured Securities Claims,” SRZ Client Alert, August 12, 2011 (co-author)
SRZ Distressed Debt & Claims Trading Developments Newsletter, Summer 2011 (co-author)
“The Intersection of Environmental and Bankruptcy Law,” Environmental Issues in Business Transactions, (Business Law Section of the American Bar Association) July 2011
“Seventh Circuit Upholds Secured Creditors’ Credit Bid Rights Under Plan,” SRZ Client Alert, July 5, 2011 (co-author)
“Camouflaged Collateral: ‘All Asset’ Liens May Not Include Proceeds of D&O Insurance Policies in Bankruptcy,” Bloomberg Bankruptcy Law Reporter, March 21, 2011 (co-author)
“Claims Traders Beware: More Risk Than You Bargained For!” Bloomberg Bankruptcy Law Report, Jan. 31, 2011 (co-author)
"Lehman Brothers Holding Inc. — The State of the Estate," SRZ Client Alert, Sept. 23, 2010
"LBIE Administrators Extend September 17, 2010 Proof of Debt Submission Deadline for Consensual Approach Participants," SRZ Client Alert, Sept. 17, 2010 (co-author)
“Lehman Brothers Court: Waterfall Subordination Provisions Unenforceable in Bankruptcy” and “Rule 2019 Disclosure Continues To Divide Bankruptcy Courts,” Pratt’s Journal of Bankruptcy Law, February/March 2010 (co-author)
“Back to the Drawing Board: Setbacks Dog the Administrators of Lehman in Europe,” The Hedge Fund Journal, November/December 2009 (co-author)
“Wrapping Up Lehman: The Implications of PwC’s Scheme of Arrangement,” The Hedge Fund Journal, August 2009 (co-author)
“Fraudulent Transfer Analysis Turns Sour,” The Bankruptcy Strategist, June 2007 (co-author)
“Bankruptcy Court Demolishes Baseless Lender Liability Complaint,” The Bankruptcy Strategist, February 2007 (co-author)
“Business Reorganization Financing: Use of Cash Collateral and Debtor-in-Possession Financing,” 28th Annual Current Developments in Bankruptcy & Reorganization, 2006 (co-author)
“Appeals,” The Collier Bankruptcy Practice Guide, 1997 rev. ed.
More
Selected Speaking Engagements
“Recent Developments in Bankruptcy and Distressed Investing,” SRZ 21st Annual Private Investment Funds Seminar, January 2012
“Counterparty Risk Management,” New York Hedge Fund Networking Group Membership Meeting, December 2011
“‘Avoiding Powers’ - Augmentation of the Estate,” Practising Law Institute Nuts and Bolts of Corporate Bankruptcy, December 2011
“Real Estate Mezz Loans: What You Need to Know,” SRZ Webinar, September 2011
“What Bankruptcy Lawyers Need to Know About UCC Article 9 — Best Practices for Mezzanine Foreclosures in 2011,” ExecSense Webinar, May 2011
“Distressed Investing: Deal Structuring,” SRZ 19th Annual Private Investment Funds Seminar, January 2010
“M&A in Bankruptcy,” SRZ Distressed Investing, July 2009
“Inside the Bankruptcy Process,” SRZ Distressed Investing, June 2009
“Counterparty Relationships,” SRZ 18th Annual Private Investment Funds Seminar, January 2009
“Selected Bankruptcy Considerations in the Acquisition of Distressed Assets,” SRZ Investment Management Hot Topics Seminar, April 2008
“Broker-Dealers and Counterparties: Selected Insolvency Issues,” SRZ Investment Management Hot Topics Seminar, September 2007
“Same Forest, New Trees: The Current Business and Consumer Bankruptcy Landscape,” William J. O’Neill Great Lakes Regional Bankruptcy Institute Conference, April 2007
“Second Lien Loans And ‘Loan-to-Own’ Strategies,” 24th Annual Spring Meeting of American Bankruptcy Institute, April 2006
More
Memberships
2010 Law360 Bankruptcy Editorial Advisory Board
Turnaround Management Association
American Bankruptcy Institute
New York City Bar Association
American Bar Association
Section of Business Law
Other Distinctions
The Legal 500 US, 2009
Bar Admissions
Court Admissions
- U.S. Court of Appeals, First Circuit 2000
- U.S. District Court, Northern District of New York 1999
- U.S. District Court, District of Arizona 1995
- U.S. District Court, Southern District of New York 1993
- U.S. District Court, District of New Jersey 1992
Education
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New York University School of Law, J.D., cum laude, 1992
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Tufts University, B.A., magna cum laude, 1980
Prior Experience
Skadden, Arps, Slate, Meagher & Flom LLP
Counsel, Corporate Restructuring Department, 2001-02
Associate, Corporate Restructuring Department, 1992-01
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