Practice Areas
Education
- B.A., Yale University, 1994
- J.D., Boston College, 1998, summa cum laude; Order of the Coif; Editorial Board, Boston College Law Review
Bar & Court Admissions
- Massachusetts, 1998
- Connecticut, 1999
- North Carolina, 1999
Stephen E. Gruendel
Steve Gruendel regularly represents banks and other financial institutions in connection with bankruptcy and workout situations involving troubled credits. His clients include national and regional financial institutions that are lenders at all levels of a distressed company’s capital structure – including senior secured lenders, second-lien lenders and subordinated lenders. He often represents administrative agents and collateral agents for syndicated credit facilities in workouts and bankruptcies.
Mr. Gruendel has deep experience negotiating intercreditor agreements involving both payment and lien subordination, and in helping his clients navigate the challenges presented by such agreements in workouts. He also has extensive experience structuring and documenting financing transactions on the front-end of lending relationships, which is critical to his understanding the many documentation issues that present challenges in workout scenarios.
Recognizing that each matter presents its own unique challenges, Mr. Gruendel's approach is to listen carefully to his client’s goals and objectives and tailor his approach to the situation – from cooperative to adversarial – depending on how best to achieve those objectives.
Recent matters include:
- Represent subordinated secured lender in documentation of $25 million facility to healthcare services company.
- Represent senior secured lender in connection with workout involving $28 million of bank debt owed by engineering firm.
- Represent lender in connection with workout and subsequent refinance of approximately $23 million owed by physician practices.
- Represent agent for second lien lenders owed approximately $40 million in connection with workout involving Canadian trucking company.
- Represent lender with minority position in bank group in connection with inter-lender negotiations involving discounted payoff.
- Represent collateral agent in connection with structuring transaction and negotiating intercreditor provisions involving approximately $130 million in acquisition financing secured by foreign intellectual property.
- Represent borrower in connection with successful three-year workout involving California grocery store chain with approximately $25 million in senior bank debt and a host of other creditors.
- Represent agent for bank group in connection with workout and subsequent refinance of approximately $80 million in senior bank debt owed by automated teller machine owner / lessor.
Of Note
- Chair, Silent Partners Program for the Mecklenburg County Bar, 2005-present
- Coach, pop-warner football (2007)
- Board member, United Way Success-by-Six (2005-2006)
- Coach, boys and girls basketball (2002-2005)
- Current member, MVA recruiting committee
- Member, American Bankruptcy Institute
- Member, Yale Club of Charlotte
- Law Clerk to Hon. Edward F. Harrington, United States District Judge (D. Mass.)
Professional Affiliations
- American Bar Association
- North Carolina Bar Association