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About Lawrence V. Gelber

Lawrence V. Gelber

Lawrence V. Gelber is a partner in the Business Reorganization group of Schulte Roth & Zabel LLP, practicing in the areas of distressed M&A and financing, corporate restructuring, creditors’ rights, debt and claims trading, and prime brokerage insolvency/counterparty risk, with a focus on representation of investment funds and other financial institutions in distressed situations. His extensive experience in out of court restructurings and Chapter 11 cases includes his representation of clients as debtors, secured and unsecured creditors, lenders, investors and acquirers.  He is a regular contributor to numerous trade publications, including Norton Journal of Bankruptcy Law and Practice, The Bankruptcy Strategist, Bankruptcy Law 360 and Norton Bankruptcy Law Adviser, and a frequent speaker at industry conferences and seminars. He received his B.A. from Tufts University and his J.D. from New York University School of Law.

Articles by Lawrence V. Gelber

Investors may seek to purchase bankruptcy claims against a debtor as part of an investment strategy. What do they need to know before they invest?

What is a bankruptcy venue? A debtor should be considerate when selecting a venue to file for bankruptcy and know which eligible venues are best to file in.

A creditor may seek appointment of a chapter 11 trustee in replacement of the debtor in possession, but there are special considerations to make first.

In part one of our series on recharacterization, we discussed the elements of judicial recharacterization of loans as equity interests.[i]  In part two of the series, we considered how debtors can “claw back” putative “loans” that they may have repaid years earlier because the “loans” were in fact equity investments and their repayment was invalid.[ii]  In this finale of the series, we contrast recharacterization with equitable subordination, which is another means by which some creditors can seek to push ahead of others. Equitable subordination resembles recharacterization in that it permits […]

In our last article[i], we discussed the judicial recharacterization of loans as equity interests.  As we described, a court will recharacterize a lender’s debt claim as equity if it determines the “loan” actually was intended to be, and was treated by the parties as, an equity investment.  Recharacterization is a powerful tool for creditors and trustees because, under the Bankruptcy Code’s priority scheme, debt claims (and all general unsecured claims) must be repaid in full before equityholders can receive any distribution on account of their (equity) interests.  Because many, if […]