Alex Talesnick represents financial institutions in out-of-court workouts, restructurings and bankruptcy proceedings and on asset-based and leveraged financing transactions. Alex regularly advises agents, lenders and hedge providers on complex financial restructurings, including the structuring, negotiation and documentation of forbearance arrangements and loan modifications, recapitalization and refinancing transactions, debt-to-equity conversions, liability management transactions, private asset sales, foreclosure actions and other syndicated and bilateral loan and hedging transaction restructurings across a variety of industries.
Alex also has substantial experience in all aspects of bankruptcy proceedings, including cash-collateral negotiations, DIP financings, 363-asset sales and credit-bid acquisitions, pre-negotiated plans of reorganization, plan confirmations, exit financings and distressed debt and claims trading. He has been recognized by New York Metro Super Lawyers every year since 2015.
- Agent for a group of secured lenders in the repayment in full of their claims in The Hertz Corporation chapter 11 proceedings.
- Six financial institutions with revolving credit loans in the successful out-of-court restructuring of Travelport Worldwide Limited.
- A financial institution in its capacities as receivables factoring provider, hedge provider and prepetition secured lender in the chapter 11 proceeding of Garrett Motion Inc.
- A financial institution with claims against a hedge fund arising out of the termination of variance and volatility swaps, including the consensual out-of-court liquidation of the fund and the resolution and payment of counterparty claims with the assistance of an independent plan facilitator.
- Repayment of a secured lender in the workout then chapter 11 proceeding of Rochester Drug Co-Operative, Inc., a distributor of pharmaceuticals which liquidated following the settlement of criminal and civil charges brought by the federal government.
- Eight secured bilateral lenders in the chapter 11 proceeding of Miami Metals (f/k/a Republic Metals Corporation).
- Agents, secured lenders and hedge providers in out-of-court restructurings and bankruptcy proceedings in the energy and mining industries, including companies owning gold mines, exploratory assets, wind farms and oil and natural gas reserves, including, among others, Midway Gold US Inc., Mineral Park, Inc., U.S. Coal Corporation, Abengoa Bioenergy US Holding, LLC, Abeinsa Holding Inc., Peabody Energy Corporation, Chaparral Energy, Pacific Exploration & Production Corp., Emerald Oil, Inc. and Horsehead Holding Corp.
- Multimedia company as intellectual property licensor/licensee and creditor in the chapter 11 proceedings of The Weinstein Company and THQ, Inc.
- Court-appointed fee examiner in the Eastman Kodak Company and LUHC Wind Down Corp. chapter 11 proceedings.
- Chapter 11 trustee of Fletcher International, Ltd., a master hedge/private equity fund in a complex master-feeder fund structure.
- Agent for a group of lenders in the workout of a $185 million credit facility secured by a portfolio of 16 landfill gas power generating facilities located throughout the United States, including a consensual out-of-court sale process for the repayment of the lenders’ claims.
- Agent for a group of lenders in the restructuring of $600 million of loans to, and accretive interest rate swap agreements with, the owner of a parking concession in Chicago and the transfer of the parking concession to an entity owned by the lenders.
- Lender in the workout of a failed securitization of a $300 million warehouse line of credit secured by 51 real estate loans.
- Agents, lenders and hedge providers in the workout and out-of-court restructuring of distressed companies in a wide variety of industries, including, among others, oil and gas, metals and mining, alternative energy, commodities, transportation and logistics, health care, retail, hospitality, travel, fitness, food distribution and processing, manufacturing, demolition and remediation, automotive, education, digital marketing, technology and financial services.
- Lenders in bilateral and syndicated borrowing base revolving credit and term loan facilities to domestic and international oil and gas producers, coffee, grain and sugar producers, agricultural product producers and traders, precious metals traders, steel manufacturers and fisheries and fish processors.
- Member, American Bankruptcy Institute
- Co-Author, “Halting the Race to the Courthouse: Limits of Post-Petition Lien Filings,” ABI Journal, Vol. XXXI, No. 5 (June 2012)
Speeches & Events
- Lectures frequently on workouts of troubled loans, developments in bankruptcy law and the treatment of derivatives in bankruptcy.
Admitted To Practice
- New York
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the Southern District of New York
- J.D., Vanderbilt University School of Law, 2011
- B.A., Tufts University, 2008