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Oscar N. Pinkas is Chair of the New York Restructuring & Bankruptcy Practice and a member of the Corporate and Finance Practices. He focuses on transactions and turnarounds as well as in-court practice and estate representations. His clients include investors, purchasers, lenders, creditors’ committees, companies, indenture trustees and collateral agents.

Oscar advises clients situations in or out of court involving strategic, operational, or financial issues, with an emphasis on assisting investors, sponsors and funds deploy, manage, exit and recover on their investments, including in M&A, equity or debt (primary or secondary) transactions, growth, realignment, optimization and turnaround of portfolio companies, capital recoveries (including workout and foreclosure), and any attendant disputes or litigation. His work is equally domestic and cross-border in nature, having advised on transactions and situations on 6 continents, involving up to 12 countries in any given instance and over 25 different countries in total.

Oscar is adept at understanding clients’ goals and helping to pursue them through the most complex of situations, while anticipating and navigating the interests of competing constituencies along the way. Clients seek out Oscar’s dynamic leadership, creativity and practicality to help them navigate some of their most difficult, unique, or sensitive problems. Clients describe Oscar as a “pleasure to work with,” able to adapt to and manage any situation, and regularly applaud both his “deft touch” and ability to “achieve the impossible,” while staunchly protecting their interests at every turn.

Oscar has been named an Emerging Leader in Insolvency by the American Bankruptcy Institute, an Emerging Leader in M&A, Financing and Turnaround by The M&A Advisor, a Top 50 Rising Star Dealmaker in the Americas by Global M&A Network, a Top Rated Bankruptcy Attorney by Super Lawyers, and a Top Young Restructuring Attorney by Bankruptcy Law360.

Restructurings or transactions Oscar has been heavily involved in include: Accuride, ATP-UK, bebe stores, Brazos Electric, Deluxe Entertainment, Dura Automotive Systems, Fontainebleau, Gasfrac Energy, Global A&T Electronics, Lehman Brothers, Magnetation, Mesabi Metallics, Movie Gallery, NewComm Wireless, Ranger Offshore, Refco, Sanjel, Sea Containers, Sheridan Production Partners, Tropicana Entertainment, VIVUS, Walter Energy, Westpoint Home and Young Broadcasting.

Concentrations

  • Corporate
  • Cross-border restructuring matters
  • Distressed M&A, investing, and debt trading
  • Finance
  • Insolvency litigation and enforcement
  • Loan recovery/workouts
  • Mergers and acquisitions
  • Out-of-court restructurings and workouts
  • Private equity
  • Restructuring, insolvency, and bankruptcy

Kompetencje

Doświadczenie

  • Automotive. Represented purchaser in take-private transaction to acquire a platform business that closed simultaneously with the acquisition of an add-on, recapitalization, new financing and introduction of a new management team. The acquisition averted a liquidation of the business.°
  • Financial Services. Represented acquiror of equity interest in commercial lender with over $65 billion of assets.°
  • Hotel/Leisure. Represented investor in acquisition of controlling interest in casino enterprise through a debt for equity swap that discharged over $2.4 billion of debt.°
  • Insurance. Represented insurtech and fintech business in the acquisition of licenses, a book of business to winddown and a claims group from an insurance company in receivership. The acquisition accelerated the client’s business plan by 2 years.°
  • Mining. Represented purchaser in acquisition of company with assets with a book value of $750 million. The acquisition was completed in 5 months, without payment of any purchase price, and involved issuance of three tranches of debt and 12 interlocking settlements, together involving over 75 signatories.°
  • Mining. Represented investor in acquisition of equity interests in mining project as part of a restructuring that discharged over $3.5 billion of debt. The acquisition was the result of several months of consensus building amongst a fractured group of stakeholders, and was described as pulling off the “impossible” by the professionals involved and averting a “destined liquidation” by the bankruptcy judge.°
  • O&G. Represented purchaser in acquisition of producing assets in the Permian Basin.°
  • O&G. Represented acquiror of barge fleet through an out of court restructuring. A consensual deal was obtained after acquiring defaulted debt of the seller to oust the board and force a consensual equity foreclosure.°
  • Pharmaceutical. Represented bondholders in take-private transaction through a debt for equity swap under a prepackaged plan in bankruptcy. The plan was unique in that it approved one-off settlements with each of 14,000 shareholders through lack of objection and a settlement with directors and officers that waived potential indemnity claims.°
  • Real Estate. Represented acquiror of stalled $2 billion hotel construction project.  The acquisition was achieved by putting $375 million of contractors’ liens on the project in dispute to enable a free and clear sale.°
  • Power. Representing noteholders owed $400 million in restructuring and bankruptcy of electrical generation and transmission cooperative.
  • Aviation. Representing lender in workout of loan to aircraft leasing business.
  • Construction. Represented hedge fund as syndicate lender in out of court workout and foreclosure.°
  • Financial Services. Represented hedge fund in six separate lending transactions to financial services companies, as well as disputes to recovery capital from borrowers. In one such dispute, strategies to extend litigation allowed the client to capitalize upon running default interest in order to cause full repayment of two loans.°
  • Hotel/Leisure. Represented lender in $150 million exit financing facility to consummate restructuring.°
  • O&G. Represented lending syndicate that received paydown of first-lien debt in restructuring and recapitalization of frac sand production company.°
  • Pharmaceutical. Represented lender in $90 million exit financing facility to consummate restructuring.°
  • Real Estate. Represented DIP lender in financing to fund bankruptcy proceeding of real estate development, which enabled a sale of the development for over $150 million.°
  • Retail. Represented lending syndicate in bridge financing to keep company out of bankruptcy and effectuate its restructuring to exit a brick and mortar business and focus on an online platform.°
  • TMT. Represented syndicate of private equity funds and insurance companies in recovery on loans through sales of the borrowers’ business lines. Averting liquidation required a superpriority, cross-border, emergency rescue loan, which was negotiated with two other sets of lenders and closed in 4 business days. Client recoveries exceeded expectations due to maneuvering and reallocation of sale proceeds through rescue loan negotiations.°
  • TMT. Represented private equity fund as second lien syndicate lender in out of court restructuring. Lender’s recovery was greatly enhanced as a result of strategies around conversion of debt and offering enhanced recovery to first lien lenders.°
  • Automotive. Sale of troubled foreign subsidiary of corporate enterprise back to original owner as resolution to disputes concerning misrepresentations made during acquisition.°
  • Financial Services. Represented German administrator regarding over $8 billion of claims against US affiliates.°
  • Foreign Representatives. Represented administrators, monitors and receivers as foreign representatives in over 20 Chapter 15 cases, involving COMI in over a dozen countries in total.°
  • Mining. Represented purchaser in acquisition and restart of three mining complexes. The complexes had previously been acquired for over $3 billion, and were restarted within 1, 3 and 8 months of acquisition, respectively. Total time from negotiation to first restart was 75 days. The investors made a large profit in an exit.°
  • O&G. Represented purchaser in $150 million cross-border acquisition of cementing and fracturing operations.°
  • O&G. Represented purchaser in $100 million cross-border acquisition of fracturing operations.°
  • O&G. Represented Canadian receiver of drilling services and equipment rental company in asset sale.°
  • O&G. Represented UK administrator of oil and gas producer regarding substantial claims against US affiliates.°
  • Automotive. Representing private equity sponsor in restructuring of portfolio company in auto parts manufacturing.
  • Automotive. Representing private equity sponsor in restructuring of portfolio company in auto parts manufacturing.
  • Automotive. Represented portfolio company in an 18-month out of court turnaround post-acquisition.°
  • Equipment. Representing private equity firm in restructuring of equipment sales, rental and service company.
  • Fund Portfolios. Assisted two private equity funds in navigating COVID-related business shutdowns and restarts across their portfolio companies.°
  • Insurance. Represented reinsurance brokerage in extended negotiation of forbearance. As a result of extended negotiations, company was able to negotiate a reduced loan payment and sell assets to payoff the lender.°
  • Mining. Represented foreign mining company in Chapter 11 preparation as contingency plan in the event there was no out of court solution with lenders. Succeeded in establishing the necessary nexus for US jurisdiction and convincing the independent board of the virtues of Chapter 11 versus a foreign insolvency administration. Filing was averted by successful negotiation of an out of court sale process of sufficient duration to maximize value after the expected effects of COVID-19 subside.°
  • TMT. Represented radio broadcast companies in their successful restructuring of over $800 million of debt. Highest value was obtained by terminating exclusivity and submission of competing plans of reorganization whose confirmation was tried concurrently.°
  • TMT. Represented debtor in restructuring involving sale of substantially all assets that resulted in full payment to creditors and a significant recovery to equityholders.°
  • Automotive. Represented creditors’ committee in restructuring of $1 billion revenue auto parts manufacturer operating 24 facilities in 12 countries. The committee supported the needs of the company while ensuring maximized recovery to creditors during COVID-19 and OEM shutdown by giving the debtors breathing room, bringing operators and investors to the table to enable a sale, and shortly thereafter forcing a settlement to leave assets behind for unsecured creditors through the threat of litigation and a sale objection. The debtors, the bankruptcy judge and purchaser applauded the committee’s balanced efforts.°
  • Automotive. Represented equity committee in valuation fight that was resolved in the middle of confirmation trial whereby equityholders received a recovery of cash and warrants.°
  • Manufacturing. Represented creditors’ committee in achieving outsized recovery through discovery as well as sale and confirmation objections.°
  • Manufacturing. Represented indenture trustee as global counsel in the US, Europe and multiple Asian countries in issuance of $665 million of notes upon consummation of prepackaged plan of reorganization.°
  • Retail. Representing DIP indenture trustee as foreign counsel across multiple European countries and Australia, including recovery on $455 million of notes in insolvency filings in several of those countries.°
  • Retail. Represented indenture trustee of bonds issued by jewelry store operator. Despite liquidation, bondholders were paid in full.°
  • Trust Services. Represented corporate trust services provider in sale of a portion of its trust business.°
  • Financial Institutions. Represented non-profit educational institution as defendant in litigation concerning the propriety of termination of interest rate swaps. Settled without admission of liability for nuisance value.°
  • Hotel/Leisure. Represented restructured companies in litigation over ownership of trademarks they were operating under. Settled without admission of liability and retained ownership of trademarks.°
  • Textiles. Represented acquiror in three litigations by second-lien lenders seeking majority of equity in the enterprise as part of a restructuring. Prevailed in all three litigations.°
  • TMT. Represented private equity fund portfolio company in litigation in bankruptcy and state court in relation to claims of fraud.  Ensured ride through treatment under a full-pay plan and thereafter obtained a very favorable settlement on all claims with a value 25x what the defendant originally asserted claims were worth.°

°The above representations were handled by Mr. Pinkas prior to his joining Greenberg Traurig, LLP.

Sukcesy i wyróżnienia

  • Listed, The M&A Advisor, “Emerging Leader in M&A, Financing and Turnaround,” 2017
  • Listed, Global M&A Network, “Top 50 Rising Star Dealmaker in the Americas,” 2018
  • Listed, Turnarounds & Workouts, Top 12 Outstanding Young Restructuring Lawyers,” 2019
  • Listed, American Bankruptcy Institute, “40 Under 40 Emerging Leader in Insolvency,” 2018, 2020
  • Listed, Law360, “Top Attorneys Under 40,” Bankruptcy, 2016
  • Listed, Super Lawyers magazine, “Top Attorney,” Bankruptcy: Business, Creditor/Debtor Rights, 2020-Present
    • Rising Star, Bankruptcy: Business, Creditor/Debtor Rights, 2016-2019
  • Legal Team Leader, The M&A Advisor
    • “Restructuring Deal of the Year,” 2019
    • “M&A Deal of the Year ($75M - $100M),” 2018
    • “Materials Deal of the Year,” 2017
    • “Consumer Discretionary Deal of the Year,” 2017
  • Legal Team Leader, Global M&A Network’s Turnaround Atlas Awards
    • “Out of Court Restructuring of the Year,” 2019
    • “Distressed M&A Deal of the Year (Mid-Market),” 2018
    • “Cross-Border Turnaround of the Year,” 2018 
    • “Community Impact Deal of the Year,” 2017
  • Member, American Bankruptcy Institute, 2006-Present
  • Advisory Board Member, American Bankruptcy Institute, 2017-Present
  • Member, INSOL International, 2007-Present
  • Member, New York Institute of Credit, 2007-Present
  • Member, Turnaround Management Association, 2007-Present
  • Member, UJA NextGen Bankruptcy Committee, 2020-Present

Kwalifikacje

Wykształcenie
  • J.D., Seton Hall University School of Law, 2006
    • Publishing member, Seton Hall Journal of Sports and Entertainment Law
  • M.B.A., with honors, Solvay Business School, Université Libre de Bruxelles, 2002
  • B.A., Rollins College, 2001
Staże
  • Hon. Donald H. Steckroth, U.S. Bankruptcy Court for the District of New Jersey, 2006-2007
Posiadane uprawnienia
  • New York
  • New Jersey
  • Florida