Steven Yachik represents unsecured creditors’ committees, commercial landlords and other creditors, indenture trustees, and liquidating trusts in large complex chapter 11 bankruptcy reorganizations, chapter 7, and subchapter V bankruptcy cases.

Prior to joining Kelley Drye, Steve worked at a boutique restructuring practice where he represented creditors’ committees, chapter 7 trustees, debtors-in-possession, and lenders and borrowers in out-of-court workouts and restructurings, including bankruptcy litigation and distressed asset sales and assignments for the benefit of creditors.

While in law school, Steve served as a judicial extern for the Honorable Timothy A. Barnes at the United States Bankruptcy Court for the Northern District of Illinois.

Official Committees of Unsecured Creditors

Represented the Official Committee of Unsecured Creditors in the bankruptcy case of a New Jersey-based home textile import company.

Represented the Official Committee of Unsecured Creditors in the Chapter 11 case of a railroad company-debtor.

Other Creditors

Successfully defended the foreign affiliate of a large multinational accounting network in turnover proceedings commenced in the Bankruptcy Court for the Northern District of Illinois.

Defended a large chemical supply company against preference actions filed in multiple jurisdictions.

Represented numerous secured lenders and equipment financers in debtor-in-possession “DIP” financing negotiations with various debtors in their chapter 11 cases.

Debtors

Represented a large Las Vegas hospitality business and its affiliates in their Chapter 11 cases filed in the Bankruptcy Court for the District of Delaware, including drafting bidding procedures and stalking horse agreements, negotiating cash collateral use and debtor-in-possession financing, drafting first day motions and bankruptcy schedules, and preparing monthly operating reports.

Represented an energy business in its case filed under subchapter V of the Bankruptcy Code, including drafting and negotiating the plan, confirmation order, and liquidating trust agreement; preparing retention and fee applications; and prosecuting and resolving claim objections/disputes.

American Bankruptcy Institute, member

Turnaround Management Association, member