Leading Bankruptcy Partner Set J. Kleinman Joins Morrison & Foerster

By Sarah Bendorf.
Updated Mar 29, 2022

NEW YORK (PRWEB) March 29, 2022 - Morrison & Foerster, a leading global law firm, is pleased to announce the arrival of Seth J. Kleinman as a partner in the firms Business Restructuring & Insolvency Group (BRIG). He will have a dual presence in New York and Chicago. Kleinman joins from another prominent global firm and brings close to two decades of corporate restructuring, bankruptcy, and insolvency experience to Morrison & Foerster.

Kleinmans practice focuses on advising ad hoc lender groups in high-stakes restructurings, with a particular focus on syndicated lenders, collateralized loan obligations (CLOs), direct lenders, high-yield funds, institutional asset managers, and opportunistic funds. He also has extensive experience advising private equity sponsors, boards of directors, and companies experiencing financial or operational distress. Kleinman has worked across a wide range of industries, including industrials, retail, automotive, aerospace/defense, agriculture, financial services, manufacturing, media and entertainment, oil and gas, energy, mining and minerals, transportation, healthcare, and tax-exempt entities, among others.

Seth brings a versatile practice and an impressive roster of clients and relationships to the firm. Seth has exceptionally strong experience working with par and distressed investors, CLOs, and high-yield funds, both in and out of chapter 11, and will bolster our existing ad hoc creditor work, while further expanding our robust restructuring capabilities and bench, said Jennifer Marines, global co-chair of Morrison & Foersters Business Restructuring + Insolvency Group. Seths ad hoc committee representations, combined with his experience advising private equity sponsors, distressed companies, and hedge funds seeking to invest in distressed debt opportunities, make him a great strategic fit for both the BRIG team and the firm.

Some of Kleinmans representative matters include: advising an ad hoc group of first lien term lenders and debtor-in-possession lenders to Libbey Inc., one of the worlds largest table glass and stemware manufacturers, with respect to the companys successful in-court restructuring of over $400 million in first lien debt; advising an ad hoc group of senior term lenders to PetSmart, Inc., the largest specialty pet retailer in North America, with respect to the companys spin-off of Chewy.com and related district court litigation; advising an ad hoc group of first lien lenders to Cumulus Media, Inc. in the lenders successful opposition to the companys planned exchange offer and in the companys subsequent chapter 11 case, which resulted in the first lien lenders acquiring over 85 percent of the equity in the reorganized entity; and representing Borden Dairy in its highly contested chapter 11 cases, which resulted in a successful sale of the company.

Morrison & Foersters exceptional Business Restructuring & Insolvency team, strong corporate, capital markets and leveraged lending platforms, and the firms collaborative culture were all major draws for me, said Kleinman. I look forward to working with my new colleagues to help our clients navigate their most complex restructuring and bankruptcy-related business challenges and expanding my practice in New York while also establishing an important presence for the practice and firm in the Chicago and Midwest markets.

Kleinman received his J.D. cum laude from Northwestern Universitys Pritzker School of Law and his B.A. summa cum laude from the University of Pennsylvania. He worked as a judicial extern to the Honorable Eugene Wedoff, Chief Judge of the Bankruptcy Court for the Northern District of Illinois. Prior to law school, Kleinman worked as an analyst at Cornerstone Research, where he analyzed financial data, debt structures, and industry trends for expert reports, depositions, and trial testimony. He is admitted to practice in New York and Illinois.

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Morrison & Foerster is a global firm of exceptional credentials. Our clients include some of the largest financial institutions, investment banks, and Fortune 100, technology, and life sciences companies. Highlighting the firms commitment to client service and leadership in market-changing deals and impact litigation, MoFo was recognized as one of the top 10 firms on The American Lawyers 2021 A-List. Year after year, the firm receives significant recognition from Chambers and The Legal 500 across their various guides, including Global, USA, Asia-Pacific, Europe, UK, Latin America, and FinTech Legal. Our lawyers are committed to achieving innovative and business-minded results for our clients, while preserving the differences that make us stronger. MoFo has a longstanding commitment to creating a culture that respects and celebrates differences, while providing an inclusive environment. The firm has achieved Mansfield Certification Plus since 2018 as a result of successfully reaching at least 30 percent women, communities of color, and LGBTQ+ lawyer representation in a notable number of current leadership roles and committees. The firm also has a long history of commitment to the community through providing pro bono legal services, including litigating for civil rights and civil liberties, improving public education, advocating for veterans, promoting international human rights, winning asylum, and safeguarding the environment.