Nancy A. Peterman

Nancy A. Peterman

Shareholder

Nancy A. Peterman is Chair of the Chicago Restructuring & Bankruptcy Practice. With over 25 years of experience, Nancy focuses her practice on complex corporate restructurings and M&A transactions involving special situations and distressed companies, whether implemented in court or out of court. She has represented private equity funds, debtors, sellers, purchasers, investor groups, and creditors in these matters. Nancy has experience in numerous industries, including manufacturing, real estate, retail, and gaming, with a particular focus on health care.

Concentrations

  • Corporate restructurings
  • Distressed mergers and acquisitions
  • Special situations and distressed transactions
  • Health law

Capabilities

Experience

  • Represented Last Call Guarantor LLC and several affiliates, the owners of the Fox & Hound and Champps Kitchen & Bar restaurant chains, in its Chapter 11 case and subsequent 363 sale.
  • Represented Yellow Cab Affiliation, Inc. in its Chapter 11 case.
  • Represented ShengdaTech, Inc., a manufacturer of a specialty additive known as nano-precipitated calcium carbonate, in its Chapter 11 case. The company was created through a reverse merger of five Chinese manufacturing companies into a U.S. public company shell.
  • Represented William Yung and Tropicana Casinos & Resorts, Inc., the 100 percent equity holders of Tropicana Entertainment, LLC, in its Chapter 11 case involving the restructuring of more than $2 billion in debt.
  • Represented Schutt Sports, Inc., a sports equipment company, in its Chapter 11 case.
  • Represented Wickes Furniture Company, Inc., a Chicago-based retail furniture company, in its Chapter 11 case.
  • Represented PPM Technologies, Inc., a food equipment manufacturer, in its Chapter 11 case.
  • Represented Mestek, Inc. in the Chapter 11 case of its second tier subsidiary, Met-Coil Systems, LLC. As part of this Chapter 11 case, millions of dollars of alleged toxic tort liability was settled.
  • Represented ACA Financial Guaranty Corporation in connection with the Chapter 11 case of the Lombard Public Facilities Corporation, an Illinois non-profit corporation which owns the Westin Lombard Yorktown Center.
  • Represented Versa Capital Management in its acquisition of The Wet Seal, Inc., a young women's clothing retailer, pursuant to Section 363 of the Bankruptcy Code.
  • Represented Bellus ALC Investments 1 in connection with the out-of-court restructuring of American Laser Centers, a laser hair removal clinic with more than 100 locations across the United States, and the subsequent Chapter 11 case of American Laser Centers, resulting in Bellus' acquisition of the ALC business in a sale pursuant to Section 363 of the Bankruptcy Code.
  • Represented Barclays Bank PLC as Agent and a Steering Committee of Secured Lenders under a First Lien Credit Agreement in the Chapter 11 cases of LandSource Communities Development LLC. More than $1.2 billion in debt was restructured and $280 million of new capital was raised in connection with this reorganization which was implemented through a plan proposed and implemented by Barclays Bank PLC, as Agent.
  • Represented a consortium that bid on the right to serve as the equity sponsor for the Extended Stay Hotels, Inc. plan of reorganization.
  • Represented the Official Committee of Non-Insider Equity Holders of Erie Street Investors, LLC.
  • Represented as co-counsel of the Official Committee of Unsecured Creditors in the Chapter 11 case of AgFeed USA, LLC and its affiliates.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 cases of Sears Methodist Retirement System, Inc.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of ethanol producer Renew Energy LLC.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of Chesapeake Corporation, an international packaging manufacturer.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of Michael Reese Medical Center Corporation.
  • Represented the Official Committee of Unsecured Creditors and Post-Consummation Trust in Chapter 11 cases of Conseco Finance Company.
  • Represented the Official Committee of Unsecured Creditors in FPA Medical Management, the nation's largest physician practice management Chapter 11 case, involving 7900 physicians and 1.4 million HMO enrollees in 29 states. The bankruptcy case concluded with a confirmed plan of reorganization allowing for the sale of the companies after nearly one year of negotiations.
  • Represent landlords in connection with receivership involving Oak Health and Rehabilitation Centers Inc. and its affiliates, operators of 22 senior living facilities. As part of the litigation, the landlords sought and obtained the appointment of a receiver to oversee the operations of the nursing homes and to facilitate transition of operations to new operators.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy cases of Sears Methodist Retirement System, Inc.
  • Represented Bellus ALC Investments 1 in connection with the out-of-court restructuring of American Laser Centers, a laser hair removal clinic with more than 100 locations across the United States, and the subsequent Chapter 11 case of American Laser Centers, resulting in Bellus' acquisition of the ALC business in a sale pursuant to Section 363 of the Bankruptcy Code.
  • Represented the Trustee in the Chapter 11 case of Beam Management, LLC d/b/a Harmony Healthcare and Rehabilitation Center of Sarasota.
  • Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of Michael Reese Medical Center Corporation.
  • Representation of not-for-profit entity in a bid to acquire The Clare, a not-for-profit continuing care retirement community that filed for Chapter 11. Our client was outbid during the 363 sale process.
  • Represented the Official Committee of Unsecured Creditors appointed in the Chapter 11 cases of Infinia Healthcare and its affiliates, the operator of 25 nursing homes located throughout the United States, in which unsecured creditors received a 100% payout.
  • Represented a not-for-profit entity that operated nursing homes and independent living facilities in a multi-year out-of-court restructuring, resulting in an initial pay down and subsequent refinancing of its tax-exempt bond debt. The restructuring involved multiple sales and an affiliation agreement with another non-profit for the balance of its assets.
  • Represented the Official Committee of Unsecured Creditors in the sale of assets involving the liquidation of Health Risk Management, Inc., an insurance claims processor located in Minneapolis, Minnesota.
  • Represented the Official Committee of Unsecured Creditors of FPA Medical Management, Inc., the nation's largest physician practice management Chapter 11 case involving 7,900 physicians and 1.4 million HMO enrollees in 29 states. The bankruptcy case successfully concluded with a confirmed plan of reorganization allowing for the sale of the companies after nearly one year of negotiations.
  • Represented the Official Committee of Unsecured Creditors for Gyncor, Inc., the Center for Human Reproduction, one of the country’s largest reproductive services chains. The bankruptcy concluded with a sale of the debtors’ assets to the highest bidder following a public auction.
  • Assisted in drafting the health care bankruptcy provisions of Public Law No. 109-8 (the 2005 amendments to the Bankruptcy Code)
  • Assistant Editor, West's Norton Bankruptcy Law & Practice Treatise
  • Former Co-Editor in Chief, Wiley Bankruptcy Law Update

Recognition & Leadership

  • Listed, The Best Lawyers in America, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, 2007-2019
  • Listed, Chambers USA Guide, 2006-2018
  • Listed, Super Lawyers magazine, Illinois Super Lawyers, 2005-2018
    • Listed, "The Top 100 Lawyers in Illinois," 2015-2018
    • Listed, "Top 50 Female Lawyers in Illinois," 2005, 2007, 2009-2018
  • Listed, Leading Lawyers Network, 2006-2018
    • Listed, "Among the Top 10 Commercial Bankruptcy Lawyers in Illinois," 2014
    • Listed, "Among the Top 250 Business Lawyers in Illinois," 2014
    • Listed, "Among the Top 100 Women Business Lawyers in Illinois," 2010, 2012, 2014
  • Fellow, American College of Bankruptcy
  • Member, Winning Team, Global M&A Network’s Turnaround Atlas Awards, "Consumer Services Restructuring of the Year" for the acquisition of Last Call Guarantor by Fun Eats and Drinks, 2017
  • Member, Winning Team, M&A Advisor’s Turnaround Awards, "Sec. 363 Sale of the Year ($25MM to $100MM)" for the Section 363 sale of Last Call Guarantor, LLC, 2017
  • Member, Winning Team, M&A Advisor’s Turnaround Awards, "Chapter 11 Reorganization of the Year (Under $500MM)” for the Chapter 11 of The Wet Seal, Inc., 2016
  • Member, Winning Team, Global M&A Network’s Turnaround Atlas Awards, "Private Equity Turnaround of the Year – Middle Markets," for the acquisition of The Wet Seal by Versa Capital Management, 2016
  • Member, Winning Team, M&A Advisor Awards, "Retail Manufacturing and Distribution Deal of the Year" for acquisition and restructuring of The Wet Seal, Inc. and its debtor affiliates by Mador Lending, LLC, an affiliate of Versa Capital Management, LLC, 2015
  • Named, "Top 100: Restructuring & Turnaround Professionals," Global M&A Network’s Turnaround Atlas Awards, 2014
  • Member, Winning Team, "Cross Border Special Situation M&A Deal of the Year" for the AgFeed Industries sale of assets to Ningbo Tech Bank, TriOak Foods and Smithfield/Murphy, Global M&A Network’s Turnaround Atlas Awards, 2014
  • Recipient, Seventh Circuit Bar Association’s Pro Bono & Public Interest Service Award, 2014
  • Selected, "Restructuring Lawyer of the Year - Middle Markets," Global M&A Network’s Turnaround Atlas Awards, 2013
  • Member, Winning Team, Global M&A Network’s Turnaround Atlas Award, "Insolvency Deal of the Year – Middle Markets," for the Chapter 11 restructuring of ShengdaTech, Inc., 2013
  • Member, Winning Team, U.S. News - Best Lawyers® "Law Firm of the Year" in Bankruptcy & Creditor Debtor Rights / Insolvency & Reorganization Law and Litigation – Bankruptcy, 2013
  • Member, Winning Team, Global M&A Network’s 2012 Turnaround Atlas Award for "Private Equity Turnaround of the Year" for the Chapter 11 reorganization and acquisition of American Laser Skincare LLC
  • Board Certified, Business Bankruptcy Law, American Board of Certification
  • Board Member, HFS Chicago Scholars
  • Member, American Bankruptcy Institute
    • Former Member, Board of Directors
    • Former Member, Executive Committee
    • Former Co-Chair, High Tech and Telecom Committee
    • Former Co-Chair, Committee on Health Care Insolvency
  • Former Chair, Chicago Bar Association's Bankruptcy & Reorganization Committee
  • Former President and Former Board Member, Women's Health Executive Network

Credentials

Education
  • J.D., University of Michigan Law School, 1991
  • B.A., University of Michigan, 1988
Admissions
  • Illinois
  • New York
  • U.S. District Court for the Northern District of Illinois