George Klidonas

New York
  • 885 Third Avenue
  • New York, NY 10022-4834
  • USA
 
 

George Klidonas assists companies, creditors, and equity holders in navigating complex issues arising in the context of financially troubled situations, with a particular focus on corporate restructurings, liability management transactions, recapitalizations, and other special situation transactions.

Mr. Klidonas provides counsel to key participants in in-court and out-of-court restructurings and special situations, including private and publicly held companies (including portfolio companies), equity owners and sponsors, and distressed investors (including hedge funds and private equity funds). He also advises boards of directors, board committees, and senior management of financially troubled companies on a range of issues, including fiduciary duties and corporate governance.

Mr. Klidonas brings broad industry experience spanning the aerospace, commodities, e-commerce, energy, power, healthcare, hospitality, media, real estate, retail, oil and gas, securities, shipping, technology, and telecommunications sectors. He also regularly represents clients in multijurisdictional and cross-border matters.

Mr. Klidonas has received broad industry recognition for his practice work. His honors include being selected as one of the top nominees nationwide to participate in the 2012 Next Generation Program at the National Conference of Bankruptcy Judges.

Mr. Klidonas regularly speaks and writes on restructuring topics for leading organizations and publications, including the Turnaround Management Association, Wharton Restructuring and Distressed Investing Conference, and the American Bankruptcy Institute. He also regularly speaks at the Cardozo School of Law.

Mr. Klidonas previously worked on secondment at Kohlberg Kravis Roberts in the Special Situations Group. In this role, he advised the investment team on existing portfolio investments as well as new investments. He also supported the KKR team with distressed investments / transactions and new investment opportunities, including rescue financing, debtor-in-possession and exit financing, recapitalizations, equity investments, distressed trades, and other opportunistic investments.

Earlier in his career, Mr. Klidonas served as a judicial intern to Judge Allan L. Gropper (Ret.), United States Bankruptcy Court for the Southern District of New York.

Speaking Engagements
  • “TMA Connect Live:  Disruption -  Is the Game Stop Game Just Getting Started?” Turnaround Management Association, Distressed Investment Conference (Speaker, February 2021)
  • “Around the Creditor Battlefield,” Turnaround Management Association, Distressed Investment Conference (Moderator, February 2021)
  • “Tips from the Titans,” Turnaround Management Association’s NextGen Leadership Experience (Speaker, October 2020)
  • “Distressed Hedge Funds,” Wharton Restructuring and Distressed Investing Conference (Speaker and Moderator, February 2020)
  • “Disruption: An Economic Driver for Restructurings,” Wharton Restructuring and Distressed Investing Conference (Speaker, February 2020)
  • “Lien Stripping in Chapter 11 Bankruptcy Cases: Lessons for Secured Creditors,“ Stafford (Speaker, January 2016)
  • “Almost Everything You Wanted to Know About Tax Issues in Bankruptcy,“ National Conference of Bankruptcy Judges (Speaker, September 2015)
  • International Mergers & Acquisitions, Fordham University School of Law (Visiting Professor, Fall 2012)

Mr. Klidonas’ experience includes advising:

  • Property Solutions Acquisition Corp. SPAC in its merger with Faraday Future to create a combined company with a value in excess of US$3.3 billion
  • The senior creditors committee in relation to the rescue financing and subsequent €2.4 billion debt and equity restructuring of Swissport, a global aviation services business headquartered in Switzerland
  • Superior Energy Services, Inc. and its affiliates in their chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas and restructuring more than US$1.3 billion of their funded debt
  • Mallinckrodt plc and its affiliates, a major specialty pharmaceutical company, in their chapter 11 cases in the US Bankruptcy Court for the District of Delaware and restructuring more than US$5.3 billion of their funded debt, as well as opioid-related liabilities
  • Lonestar Resources US Inc. and its affiliates in their chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas and restructuring more than US$535 million of their funded debt
  • APC Automotive Technologies Intermediate Holdings and its affiliates in their chapter 11 cases in the US Bankruptcy Court for the District of Delaware and restructuring more than US$430 million of their funded debt*
  • One Call Corporation in its successful out-of-court US$1 billion equitization of junior debt and US$375 million recapitalization by existing lenders, KKR, and GSO Capital Partners*
  • The private equity sponsors and Sable Permian Resources in the successful completion of American Energy Permian Basin’s US$2.1 billion out-of-court recapitalization*
  • The private equity / creditor investment fund in connection with a term loan facility and debtor-in-possession financing facility in the chapter 11 cases of Furie Operating Alaska, Cornucopia Oil & Gas Company, and Corsair Oil & Gas*
  • Sungard AS Capital and its affiliates in their “24-hour prepackaged” chapter 11 cases in the US Bankruptcy Court for the Southern District of New York, and restructuring more than US$1.26 billion of their funded debt, in the fastest chapter 11 case in history*
  • Windstream Holdings and its debtor subsidiaries in their chapter 11 restructuring in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$5.6 billion of their funded debt*
  • FullBeauty Brands Holdings and its affiliates in their “24-hour prepackaged” chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$1.2 billion of their funded debt*
  • Cenveo and its domestic subsidiaries in their prearranged chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$1 billion of their funded debt*
  • rue21 and certain of its affiliates in their chapter 11 restructuring in the US Bankruptcy Court for the Western District of Pennsylvania and restructuring more than US$800 million of their funded debt*
  • Avaya and certain of its affiliates in their chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$6 billion of their funded debt; Turnaround Management Association recognized the successful restructuring of Avaya with its Mega Company Transaction of the Year Award*
  • A private equity investment firm in providing US$386 million of debtor-in-possession financing to Performance Sports Group and purchasing substantially all of its assets in a 363 sale for US$575 million, which included the following brands: Bauer Hockey, Mission Roller Hockey, Maverik Lacrosse, Cascade Helmets, Combat, and Easton*
  • Sabine Oil & Gas and its subsidiaries in their chapter 11 cases in the US Bankruptcy Court for the Southern District of New York; Turnaround Management Association recognized the successful restructuring of Sabine Oil & Gas Corporation with its Large Company Transaction of the Year Award*
  • Samson Resources in its chapter 11 cases in the US Bankruptcy Court for the District Delaware and restructuring more than US$4 billion of their funded debt*

*Matter handled prior to joining Latham

 
  • Bar Qualification
    • New York
    Education
    • LLM, St. John's University School of Law, 2010
    • JD, Benjamin N. Cardozo School of Law, Yeshiva University, 2007
    • BS in Business Administration, Fordham University, Gabelli School of Business, 2004
  • Practices
 
 
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