Gregory F. Pesce
Biography
Overview
Greg Pesce is a partner in the Firm's Financial Restructuring and Insolvency Practice and is based in the Chicago office. Greg focuses his practice on protecting and advancing the financial interests of corporate debtors and their stakeholders (including secured and unsecured creditors, equity holders, and other investors) in the various transactional and litigation-related in complex chapter 11 cases and out-of-court workouts. Greg is widely regarded as one of the leading restructuring attorneys of his generation. Among other awards, Greg was selected for Bloomberg Law's 2023 They've Got Next: 40 under 40, Global Restructuring Review's 2022 40 Under 40, and American Bankruptcy Institute's 2022 40 Under 40.
In addition to his company-side representations, Greg regularly counsels private equity and credit fund clients on potential investments (including DIP facilities, rescue capital, and distressed M&A opportunities).
Greg also has significant experience advising companies, creditors, equity holders and other stakeholders in cross-border restructuring transactions, including situations in Australia, Canada, Hong Kong, Peru, Singapore, and the United Kingdom.
Experience
Representative Company-Side Experience
- Surgalign Technologies ― Represented Surgalign Holdings, a publicly traded, global medical technology company, in connection with its chapter 11 proceedings in the Bankruptcy Court for the Southern District of Texas.
- Circulus LLC ― Represented portfolio company of Ara Partners in connection with an out-of-court recapitalization transaction.
- Aqua Leisure ― Represented private pool and leisure toys manufacturer in connection with comprehensive out-of-court recapitalization transaction.
- Celsius Network, LLC — Representing Celsius Network's Litigation Oversight Committee in connection with the pursuit of billions of dollars of claims and causes of action and the monetization of various illiquid assets for the benefit of Celsius Network's creditors. Successfully recovered over $140 million in cash for creditor recoveries in the first quarter alone of the firm's representation.
- PWM Property Management LLC ― Represented the owners of premier commercial office towers located at 245 Park Avenue in New York City and 181 West Madison Street in Chicago, Illinois in connection with their chapter 11 cases before the U.S. Bankruptcy Court for the District of Delaware; and in connection with a definitive agreement to sell PWM's interests in the commercial office tower located at 245 Park Avenue in New York City to an affiliate of SL Green Realty Corp.
- Ionic Digital ― Representing Ionic Digital, Inc., a pure play Bitcoin mining business formed as part of the Celsius Network restructuring plan.
- Bouchard Transportation Co. ― Representing Matthew Ray as Plan Administrator in connection with complex chapter 11 proceedings pending in Southern District of Texas.
Representative Creditor, Equity Sponsor, and Other Stakeholder Experience
- Celsius Network, LLC ― Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of Celsius Network LLC in the United States Bankruptcy Court for the Southern District of New York, acting as the fiduciary for 1.7 million account users that used the Celsius platform before its bankruptcy filing.
- Genesis Global Holdco ― Representing the Official Committee of Unsecured Creditors in the chapter 11 case of Genesis Global Holdco in the United States Bankruptcy Court for the Southern District of New York.
- Cox Operating LCC ― Represented the Official Committee of Unsecured Creditors in the chapter 11 case of Cox Operating LLC in the United States Bankruptcy Court for the Southern District of Texas.
- SiO2 Medical Products Inc. ― Represented the Official Committee of Unsecured Creditors in the chapter 11 case of SiO2 Medical Products Inc. in the United States Bankruptcy Court for the District of Delaware.
- Sientra Inc. ― Represented the Official Committee of Unsecured Creditors in the chapter 11 case of Sientra Inc. in the United States Bankruptcy Court for the District of Delaware.
- Amyris Inc.― Represented the Official Committee of Unsecured Creditors in the chapter 11 case of Amyris, Inc. in the United States Bankruptcy Court for the District of Delaware.
- Westlake Surgical ― Represented the Official Committee of Unsecured Creditors in the chapter 11 case of WestLake Surgical in the United States Bankruptcy Court for the Western District of Texas.
- ION Geophysical Corporation ― Represented the Official Committee of Unsecured Creditors of ION Geophysical Corporation in the contested restructuring of over $138 million of funded debt.
- Smile Direct Club ― Represented the largest unsecured creditor in the chapter 11 and resulting chapter 7 proceedings of SmileDirectClub in the United States Bankruptcy Court for the Southern District of Texas.
- Michael's Stores, Inc. ― Represented of Michaels Stores, Inc. as a purchaser of assets in the chapter 11 cases of Bed Bath & Beyond, Party City, and Tuesday Morning.
- Seadrill Ltd. ― Represented Transocean Ltd. and certain other co-investors in connection with their efforts to sponsor an alternative plan of reorganization for Seadrill Ltd.
- China Fishery Group Ltd. ― Represented Monarch Capital and Davidson Kempner in connection with their innovative strategy to propose a creditor-backed plan of reorganization for China Fishery Group Ltd., which has over $1.1 billion in funded indebtedness.
- Castex Energy ― Represented Cross Ocean Partners, LP, as the largest secured lender to Castex Energy 2005 HoldCo LLC, in connection with Castex's chapter 11 case in the Bankruptcy Court for the Southern District of Texas.
Clerk & Government Experience
Judicial Intern, Honorable Ann C. Williams, United States Court of Appeals for the Seventh Circuit
Prior Experience
PILI Fellow, The University of Chicago Mandel Legal Aid Clinic, Summer 2011
Panelist, "De-SPAC Transactions and Restructuring Considerations," 2024 Southern District of Texas Bankruptcy Bench Bar Conference, May 2024.
Panelist, "Blown to Bit(coin)s – How Crypto Has Fared in Chapter 11," 42nd Annual Jay L. Westbrook Bankruptcy Conference, November 2023.
Moderator, "Bankruptcy Update: Recent Cases and a Look Ahead," 2023 CoinDesk State of Crypto: Policy and Regulation Conference, October 2023.
Panelist, "Crypto: How 2022 Will Affect The Future Of The Digital Currency Industry," 29th Annual Distressed Investing Conference, November 2022.
Panelist, "Liability Management Issues in COVID Chapter 11 DIP." 40th Annual Jay L. Westbrook Bankruptcy Conference, November 2021.
Speaker, "Modifying Labor and Retirement Obligations in Bankruptcy," 38th Annual Jay L. Westbrook Bankruptcy Conference, The University of Texas School of Law, Austin, TX, November 14–15, 2019.
Contributing Editor of the Norton Journal of Bankruptcy Law & Practice
The Irrelevance of Philadelphia Newspapers, ABI Bankruptcy Litigation Committee Review, May 2011
Band 5: Chambers USA: Illinois: Bankruptcy Restructuring
40 Under 40, They’ve Got Next, Bloomberg Law (2023)
40 Under 40, American Bankruptcy Institute (ABI) (2022)
40 Under 40, Global Restructuring Review (GRR) (2022)
Member, Southern District of Texas Complex Chapter 11 Advisory Committee
Second Prize, Third Annual ABI Bankruptcy Law Student Writing Competition (2011)