People

Arthur Steinberg is a knowledgeable, experienced restructuring lawyer who knows when to litigate and when to cut the deal. With more than 38 years of restructuring experience, Arthur has represented all facets of a workout/bankruptcy including representing the debtor, secured and unsecured creditors, official and ad-hoc committees, distressed investors, asset buyers, equity holders, trustees, examiners and parties in bankruptcy-related litigation. He has also been a Receiver and Investment Company Act Trustee for failed hedge funds and investment advisors, and a court-appointed mediator.

Arthur has had a significant role in many of the largest bankruptcy cases including Payless Shoes, General Motors, Lehman Brothers, Washington Mutual, WorldCom and Enron.

A frequent author and speaker on bankruptcy and related topics, Arthur has been ranked repeatedly by Chambers USA, Best Lawyers in America, Legal 500 and Super Lawyers.

Full Bio

Credentials

J.D., New York University

B.A., Economics, Columbia University, cum laude

New York

Supreme Court of the United States

U.S. Court of Appeals for the Fourth Circuit

U.S. Court of Appeals for the Second Circuit

U.S. District Court for the Eastern District of New York

U.S. District Court for the Southern District of New York

Ranked (Band 4)


Chambers USA, 2006–2008, 2013–2016

2006–2020


Best Lawyers

2017-2019


Super Lawyers

Pro Bono Service Award


2015

Community Service Award


Yeshiva Darchai Torah, 1989

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Recognition

Ranked (Band 4)


Chambers USA, 2006–2008, 2013–2016

2006–2020


Best Lawyers

2017-2019


Super Lawyers

Pro Bono Service Award


2015

Community Service Award


Yeshiva Darchai Torah, 1989

Matters

Represent the Development Recovery Authority in the GDB Bankruptcy in Puerto Rico.

Represented Global Marketing in its pre-packaged bankruptcy.

Represented ad-hoc first-lien term loan lenders in the Payless Holdings bankruptcy case.

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Matters

Represent the Development Recovery Authority in the GDB Bankruptcy in Puerto Rico.

Represented Global Marketing in its pre-packaged bankruptcy.

Represented ad-hoc first-lien term loan lenders in the Payless Holdings bankruptcy case.

Represent the New General Motors, as purchaser, on a variety of issues relating to their asset purchase agreement with Old GM.

Represent Lehman Brothers Holdings in a variety of issues relating to their bankruptcy.

Represented an ad-hoc group of hedge funds who purchased equity in a bankrupt oil servicing business.

Represented the equity holders of a failed hedge fund.

Represented a Mexican home builder in a dispute relating to a derivatives contract.

Represented hedge funds in the Washington Mutual bankruptcy case.

Represented a group of partners in the Dewey law firm bankruptcy.

Represented secured lenders in health care and entertainment bankruptcies.

Represented financial institutions in international workouts relating to the mortgage crisis.

Represent pre-petition lenders, dip lenders and exit lenders to debtor companies and in workouts.

Represented the examiner in Enron North America in analyzing intercompany issues and acting as a plan facilitator.

Represented the examiner in Coudert Brothers in analyzing claims against partners and formulating a partner contribution plan.

Represented the corporate monitor in Worldcom in reviewing document retention policy, fee expenditures, negotiating the chief executive officer's employment contract, and corporate governance issues.

Acted as Investment Company Act Trustee for failed hedge fund including selling businesses, litigating with service providers and redeeming investors, and formulating plan of distribution.

Acted as receiver for two failed investment advisors including sorting through issues related to commingled accounts and formulating plan of distribution.

Acted as receiver for two failed hedge funds including liquidating securities and selling businesses, litigating with the principals of the hedge fund and redeeming investors, and formulating plan of distribution.

Acted as court appointed mediator in multiple matters.

Acted as Debtor's counsel for, among others, (a) large group of nursing homes, (b) owner of respiratory supply business, (c) retail chain of stores, (d) corporate owner of office building, (e) corporate owner of residential project, (f) individuals who were obligated for large corporate debts, (g) destination club, (h) cat litter manufacturer, (i) apparel company and (j) out-of-court dissolution of Caymans hedge fund.

Acted as creditors committee Counsel for wholesale pharmaceutical distributor and supervised its liquidation and litigation arising therein.

Acted as creditors committee Counsel for an investor group which was sued to recover payments made to them by a Ponzi-run company.

Represented an equity committee on breach of fiduciary duty issues.

Represented the equity holders of corporate company in workout of their guaranty obligations.

Represent the buyers of assets in bankruptcy including a large hospital, two apparel catalog businesses, residential project, retail chain, ground lease and intellectual property.

Advise private equity firms with respect to acquisition of distressed companies, and workouts of their portfolio companies.

Represent landlords and tenants in bankruptcy matters.

Advise hedge funds with respect to their loans to troubled companies and investing in distress securities.

Defend entities from preference and fraudulent transfer styled claims in Ponzi situations and other matters.

Advise companies on intellectual property issues in bankruptcy.

Matters

Represent the Development Recovery Authority in the GDB Bankruptcy in Puerto Rico.

Represented Global Marketing in its pre-packaged bankruptcy.

Represented ad-hoc first-lien term loan lenders in the Payless Holdings bankruptcy case.

See more
Icon close

Close

Matters

Represent the Development Recovery Authority in the GDB Bankruptcy in Puerto Rico.

Represented Global Marketing in its pre-packaged bankruptcy.

Represented ad-hoc first-lien term loan lenders in the Payless Holdings bankruptcy case.

Represent the New General Motors, as purchaser, on a variety of issues relating to their asset purchase agreement with Old GM.

Represent Lehman Brothers Holdings in a variety of issues relating to their bankruptcy.

Represented an ad-hoc group of hedge funds who purchased equity in a bankrupt oil servicing business.

Represented the equity holders of a failed hedge fund.

Represented a Mexican home builder in a dispute relating to a derivatives contract.

Represented hedge funds in the Washington Mutual bankruptcy case.

Represented a group of partners in the Dewey law firm bankruptcy.

Represented secured lenders in health care and entertainment bankruptcies.

Represented financial institutions in international workouts relating to the mortgage crisis.

Represent pre-petition lenders, dip lenders and exit lenders to debtor companies and in workouts.

Represented the examiner in Enron North America in analyzing intercompany issues and acting as a plan facilitator.

Represented the examiner in Coudert Brothers in analyzing claims against partners and formulating a partner contribution plan.

Represented the corporate monitor in Worldcom in reviewing document retention policy, fee expenditures, negotiating the chief executive officer's employment contract, and corporate governance issues.

Acted as Investment Company Act Trustee for failed hedge fund including selling businesses, litigating with service providers and redeeming investors, and formulating plan of distribution.

Acted as receiver for two failed investment advisors including sorting through issues related to commingled accounts and formulating plan of distribution.

Acted as receiver for two failed hedge funds including liquidating securities and selling businesses, litigating with the principals of the hedge fund and redeeming investors, and formulating plan of distribution.

Acted as court appointed mediator in multiple matters.

Acted as Debtor's counsel for, among others, (a) large group of nursing homes, (b) owner of respiratory supply business, (c) retail chain of stores, (d) corporate owner of office building, (e) corporate owner of residential project, (f) individuals who were obligated for large corporate debts, (g) destination club, (h) cat litter manufacturer, (i) apparel company and (j) out-of-court dissolution of Caymans hedge fund.

Acted as creditors committee Counsel for wholesale pharmaceutical distributor and supervised its liquidation and litigation arising therein.

Acted as creditors committee Counsel for an investor group which was sued to recover payments made to them by a Ponzi-run company.

Represented an equity committee on breach of fiduciary duty issues.

Represented the equity holders of corporate company in workout of their guaranty obligations.

Represent the buyers of assets in bankruptcy including a large hospital, two apparel catalog businesses, residential project, retail chain, ground lease and intellectual property.

Advise private equity firms with respect to acquisition of distressed companies, and workouts of their portfolio companies.

Represent landlords and tenants in bankruptcy matters.

Advise hedge funds with respect to their loans to troubled companies and investing in distress securities.

Defend entities from preference and fraudulent transfer styled claims in Ponzi situations and other matters.

Advise companies on intellectual property issues in bankruptcy.

Credentials

J.D., New York University

B.A., Economics, Columbia University, cum laude

New York

Supreme Court of the United States

U.S. Court of Appeals for the Fourth Circuit

U.S. Court of Appeals for the Second Circuit

U.S. District Court for the Eastern District of New York

U.S. District Court for the Southern District of New York

Ranked (Band 4)


Chambers USA, 2006–2008, 2013–2016

2006–2020


Best Lawyers

2017-2019


Super Lawyers

Pro Bono Service Award


2015

Community Service Award


Yeshiva Darchai Torah, 1989

Icon close

Close

Recognition

Ranked (Band 4)


Chambers USA, 2006–2008, 2013–2016

2006–2020


Best Lawyers

2017-2019


Super Lawyers

Pro Bono Service Award


2015

Community Service Award


Yeshiva Darchai Torah, 1989