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Overview
Matthew M. Murphy is a partner in the Financial Restructuring group, the Special Situations group and the Debtor-Side Restructuring practice. He advises a variety of clients in complex business reorganizations, debt restructurings and troubled company M&A. Matthew has counseled clients up and down the capital structure through out-of-court and Chapter 11 restructuring initiatives, the purchase of or investment in distressed companies and post-petition lending.
Accolades
- Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, Best Lawyers
- Bankruptcy/Restructuring, Chambers USA
- Notable Practitioner, IFLR1000
- Finance — Restructuring: Corporate, Legal 500
- 40 Under 40 Central, M&A Advisor (2012)
Education
- University of Michigan Law School, J.D., 1998
- University of Michigan, B.A., 1995
Representations
Out-of-Court and Chapter 11 Restructuring
- Official Committee of Unsecured Creditors of FTX
- Quotient Limited, as debtor, in its prepackaged Chapter 11 case
- A lender in the distressed sale of a borrower's assets in the information technology industry
- A lender in the distressed sale of a borrower's assets in the retail industry
- A company in the agricultural and sustainable products industry in its out-of-court workout
- A company in the oilfield services industry in its out-of-court restructuring
- An ad hoc group of senior secured lenders to a company in the aviation industry
- The lender to a vertically integrated wholesale CBD manufacturer facilitating a change of control
- Charming Charlie, a contemporary fashion and accessories retailer, in its Chapter 11 bankruptcy proceedings
- Interlogic Outsourcing in its Chapter 11 bankruptcy proceedings
- An ad hoc group of first lien lenders to a company in the advertising and marketing industry
- The term loan agent in the Chapter 11 bankruptcy proceedings of Aerosoles
- The sponsor in the restructuring of its portfolio company in the manufacturing industry
- The senior secured agent in the out-of-court restructuring of a company in the cloud-based services and hosting industry
- A company in the healthcare industry in its out-of-court restructuring
- A company in the oil and gas exploration and production industry in its out-of-court restructuring
- The agent in the work-out of a company in the communications industry
- A company in the retail industry in its out-of-court restructuring
- The senior secured agent in the out-of-court restructuring of a company in the defense industry
- The senior secured agent in the bankruptcy of a salt water disposal company in West Texas (served as stalking horse and ultimate owner)
- The sponsor in the out-of-court restructuring of a portfolio company in the oilfield services industry
- The out-of-court restructuring of a company that operates a power plant
- ALCO Stores, Inc., a retail chain of over 200 stores in 23 states, in its organized wind-down and sale of assets
- The out-of-court restructuring of an advertising and marketing business
- The out-of-court restructuring of a company engaged in the manufacture and sale of soils, mulches and organic fertilizers
- Velti, Inc., a leading mobile marketing and advertising company, during its Chapter 11 proceedings and the sale of its U.S. and U.K. assets
- Education Holdings 1, Inc. in its prepackaged Chapter 11 proceedings
- The sponsor in the out-of-court restructuring of its portfolio company, a leading provider of quality cake and pie products
- The Clare, a continuing care retirement community, in its proceedings under Chapter 11
- Access Industries in its role backstopping a $2.8 billion rights offering for Lyondell Chemical Company
- Interstate Bakeries Corporation (a/k/a Hostess Brands), the largest wholesale baker and distributor of fresh baked bread and sweet goods in the U.S., in its Chapter 11 reorganization
- Mark IV Industries, Inc., a leading manufacturer of highly engineered systems and components for transportation, infrastructure vehicles and equipment, in its Chapter 11 reorganization and international restructuring
- McLeodUSA Incorporated, one of the largest independent telecommunications service providers in the U.S., in its restructuring pursuant to a prepackaged plan of reorganization
- National Steel Corporation, at one time one of the largest integrated steel producers in the United States, during its Chapter 11 case and sale of assets to U.S. Steel
- Comdisco, Inc., a global technology services provider, during its Chapter 11 and sales of assets in the U.S. and Europe
Financing Transactions and Acquisition of Distressed Assets
- A lender in providing a subordinated loan to a company that manufactures and distributes sporting goods and apparel
- Macquarie Trading USA, LLC in providing a $500 million Term Loan to Vertex Pharmaceuticals
- A private equity firm as the debtor-in-possession lender to videogame maker THQ, Inc. as well as the “stalking horse” bidder for the assets of THQ, Inc.
- A private equity firm in the acquisition of the assets of Mformation Technologies, Inc. pursuant to Article 9 public sale process
- A private equity firm as potential “stalking horse” bidders for assets in a 363 sale in the retail industry
- A private equity firm as a “stalking horse” bidder for certain of the assets of Vitro America
- An ad hoc group of secured creditors in their exchange of debt for equity pursuant to the Chapter 11 reorganization of Insight Health Services Holdings Corp.
- A private equity firm in its acquisition of the assets of White Birch Paper Company in both Canada and the United States
- A private equity firm in its acquisition of the assets of Werner Ladder
Engagement & Publications
Publications
- “Releases, Indemnification and Exculpation in Plans of Reorganization,” October 2014
- “Understanding Intercreditor Agreements,” July 18, 2012
- “Are Special Purpose Vehicles Bankruptcy Proof,” November 2011
- “Asset Sales: Navigating the Bumps in the Road,” March 4, 2011
Speaking Engagements
- "Capturing Yield in Special Situations," Private Debt Investor Forum (New York), Panel Moderator (September 2018)
- "A Goldilocks Moment for Private Credit," Private Debt Investor, Speaker (September 2018)
- "Dynamic Strategies in Special Situations," LPGP Private Debt Forum, Speaker (April 30, 2019)
- Private Debt, GP Perspectives: How Do Asset Managers Effectively Manage a Downturn, May 1, 2019
Involvement
- Member – Turnaround Management Association
- Board Member – Downtown Chicago Region of the American Cancer Society