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Stephen Selbst's practice is focused on bankruptcy and restructuring and corporate law.

Bankruptcy and Restructuring Engagements

• Intelsat - Protostar: Representation of Intelsat as successful purchaser of Protostar I satellite for $210 million in bankruptcy auction (D.Del).
  
  
• Intelsat - Bantel, LLC: Representation of Intelsat Corporation in chapter 11 proceedings of satellite telecommunications company (S.D. Fla.)
  
  
• Intelsat - Sea Launch: Representation of Intelsat Corporation in chapter 11 proceedings of a satellite launch service provider. (D.Del.)
  
  
• Citicorp et al. - General Growth Properties, Inc.: Representation of Oakwood lender group in chapter 11 proceedings of diversified mall operator (S.D.N.Y)
  
  
• Intelsat - Tribune Company: Representation of Intelsat Corporation in chapter 11 proceedings of a diversified media company. (D. Del.)
  
  
• Andrew Crispo et al.: Representation of trustee in Chapter 11 cases of prominent art dealer and his associated gallery.  Case paid all creditors in full with interest. (S.D.N.Y.)
  
  
• Intelsat - Equity Media Holdings Corp.: Representation of Intelsat Corporation in connection with chapter 11 proceedings of a television station operator. (E.D. Ark.)
  
  
• Bridgestone Tire - General Motors Corporation: Representation of Bridgestone Tire in the chapter 11 proceedings of General Motors Corporation. (S.D.N.Y.)
  
  
• Bridgestone Tire - Chrysler LLC: Representation of Bridgestone Tire and Colorado dealers in the chapter 11 proceedings of Chrysler LLC. (S.D.N.Y.)
  
  
• Lehman Brothers Holding, Inc.: Representation of various creditors in Lehman Brothers Chapter 11 proceedings, including an investment bank, a re-insurance firm, a japanese investor, a hedge fund and real estate developers.
  
  
• Tacala LLC: Representation of a Taco Bell franchise operator in successful out-of-court restructuring of $350 million in total debt, including $250 million in securitized commercial mortgages. Solicited consent of CDO bondholders in connection with restructuring.
  
  
• Ace Holding LLC: Representation of four debtors in the liquidation of mortgage brokerage business in the District of Delaware.
  
  
• Honeywell - North American Refractories Chapter 11: Representation of Honeywell International Inc.  in the Chapter 11 proceedings of North American Refractories Company, an asbestos case, in the Western District of Pennsylvania. The plan of reorganization was confirmed in 2007 and is currently on appeal to Third Circuit.
  
  
• Parmalat USA: Representation of U.S. affiliates of the international Parmalat group in their Chapter 11 proceedings. The successful plan of reorganization was confirmed in 15 months with over $1 billion in claims resolved. 
  
  
• Motels of America: Debtor representation of the operator of 100 budget motel properties in the Northern District of Illinois. Successfully stabilized operations in Chapter 11, commenced litigation against the lender in bankruptcy court, which led to the consensual refinancing of the debtor's operations with a new lender and payment in full to all creditors. 
  
  
• Intelsat - Verestar Chapter 11: Representation of Intelsat Ltd. in connection with its $15 million of unsecured claims and defense of  $3.5 million preference claims in the Southern District of New York.
  
  
• Berry-Hill Galleries - Chapter 11: Representation of equity holders of a prominent New York art gallery in connection with the negotiation and documentation of a Chapter 11 plan and $35 million exit financing facility.
   
  
• CII Financial: Representation of bondholders in successful out-of-court exchange offer and restructuring.
  
  
• RFR Holdings - Salander-O'Reilly Galleries Chapter 11: Representation of  RFR Holdings, LLC, the landlord for Salander-O'Reilly Galleries, and successfully obtained possession of leased premises for landlord.
  
  
• LMR Manufacturing: Representation of a women's undergarment manufacturer in a successful out-of-court restructuring of $125 million in bank and subordinated debt.
  
  
• AB Dick: Representation of Presstek Inc. as the successful bidder for AB Dick in the District of Delaware.
  
  
• Grace Industries: Representation of the successful bidder for Grace Industries, a New York City-based asphalt contractor in the Eastern District of New York.
  
  
• Kimble Glass: Representation of Gerresheimer AG as successful bidder for assets of New Jersey glass manufacturer in the District of Delaware.
  
  
• Golden Books: Representation of Classic Media as winning bidder for Golden Books in a contested bankruptcy auction in the District of Delaware.
  
  
• Sola Communications LLC: Representation of Bayside Capital LLC in its acquisition of Sola Communications LLC in the Western District of Louisiana.
  
  
• Eastern Color Printing: Representation of  the successful bidder for Eastern Color Printing in the District of Connecticut.

Representative Corporate Engagements

• IESI Corporation - $950 Million Sale: Representation of  IESI, an integrated waste management company, in its sale to BFI Canada, a Canadian public company, for $950 million.
  
  
• IESI Corporation - $200 Million Landfill Acquisition: Representation of IESI, an integrated waste management company, in its acquisition of Seneca Meadows, a $200 million landfill in upstate New York.
  
  
• IESI Corporation - $200 Million 144A Offering: Representation of  IESI in a $200 million 144A notes offering.
  
  
• IESI Corporation - $75 Million Pennsylvania Landfills: Representation of IESI in acquisition of two landfills in Pennsylvania for $75 million.
  
  
• IESI Corporation - Private Equity Financings: Representation of IESI in six rounds of private equity financing that raised an aggregate of $275 million in equity capital.
  
  
• Middletown Trust: Representation of an issuer on $225 million securitized commercial mortgage offering.
  
  
• RLX Corporation: Representation of a lead investor in four rounds of private equity investment in a server blade hardware and network software services company.  Aggregate capital invested in excess of $100 million.
  
  
• American Marine Holdings - Sale of Minority Interest: Representation of American Marine Holdings in connection with the sale of a minority interest to a private equity investor. 
  
  
• American Marine Holdings - $35 Million Loan Facility: Representation of American Marine Holdings in connection with the $35 million loan facility from First Capital, LLC.
  
  
• Berry-Hill Galleries - $20 Million Mortgage Loan: Representation of Berry-Hill Galleries, a prominent New York art gallery, in a $20 million mortgage refinancing.
  
  
• Trikon Corporation: Representation of a company in a successful proxy contest defense.
  
  
• Del Global Technology Corporation: Representation of a company in SEC investigation and proxy contest.

Stephen Selbst has more than 25 years of experience in bankruptcy law representing debtors, secured creditors, official committees, bondholders, hedge funds and distressed investors, and distressed asset buyers in large and complex cases. He advises on bankruptcy planning and strategy, and on the debtor-creditor aspects of corporate transactions, including structured finance transactions and "true sale" and "non-consolidation" opinions.  Stephen also has experience in out-of-court workouts, and represents both debtors and creditors. He frequently represents buyers of assets from troubled companies, both in sales under Section 363 of the Bankruptcy Code and out-of-court.

In his corporate practice, Stephen has expertise in mergers and acquisitions, public and private financings of debt and equity and general corporate representation. He has represented several public companies and advised boards of directors on corporate governance and Sarbanes-Oxley matters.

Stephen is a frequent lecturer on bankruptcy and restructuring topics and has published a number of articles on bankruptcy-related topics.  He has been frequently quoted in newspaper articles on insolvency related topics and has appeared on CNBC.