Overview
Steve is co-head of the Bankruptcy & Financial Restructuring group. He represents banks and other creditors in workouts and bankruptcies. Also certified as a mediator, Steve brings a practical, problem-solving approach to workouts and recognizes that in most situations a practical and cooperative solution is better for his creditor clients than a collection action or a liquidation.
Steve’s practice encompasses both syndicated credit facilities and bilateral loans and leases. With clients that are national, regional and local, his work is as likely to involve a restructure of a publicly traded defense contractor’s syndicated credit facility as it is the cooperative liquidation or winddown of a regional hog producer or franchisee’s restaurant chain. Workout matters regularly involve forbearance agreements, amendments, wind-downs and debt restructuring agreements. Chapter 11 matters regularly involve debtor-in-possession financings and cash collateral use, section 363 sales and negotiated and/or contested reorganization plans. Steve’s workout matters also often involve intercreditor issues with third parties, including payment subordination, lien subordination, and surety-related rights and he frequently advises clients about how to structure loans that involve particularly thorny or complex issues.
In his free time, he coaches a high school mock trial team at Covenant Day School in Matthews, NC.
Representative Experience
- Agriculture. Represented real estate lender owed approximately $40MM by pistachio and almond farming operation in California. Matter involved overlapping state court receiverships and a cooperative multi-lateral sale process against the backdrop of multiple lender foreclosure actions.
- Bourbon Distillery. Represented lender owed approximately $40MM by bourbon distillery in Kentucky. Matter resulted in cooperative receivership proceeding under Kentucky law.
- Consumer Products. Represented administrative agent under $275MM credit facility to Amazon aggregator of health supplements / vitamins. Matter involved challenging governance dynamics on both company and lender side but resulted in eventual consensual exit transaction.
- Defense Contractor. Represented administrative agent under $1200MM credit facility to defense contractor. Matter involved competing views about significant EBITDA addbacks and financial covenant compliance.
- Coffee Importer. Represented bank client owed approximately $50MM by a coffee importer borrower which filed an assignment for the benefit of creditors in Florida. The matter involved significant intercreditor disputes over the proceeds of collateral due to fraudulent borrowing practices and an eventual legal action against the company’s audit firm.
- Floorplan Lending. Represented administrative agent for bank group in connection with $40MM floorplan lending facility to auto dealership. Matter resulted in repossession of over 2000 cars immediately prior to chapter 7 filing.
- Flight School Services. Represented administrative agent for bank group owed over $250MM in connection with syndicated loans to flight school. Matter involved adding additional aircraft collateral in the multiple jurisdictions, including the US and UK.
- Legal Services. Represented mezzanine lender owed $17MM by legal services provider in bankruptcy proceedings. Case involved a “priming” DIP facility provided by client, priming the senior secured lender, and a creditor-proposed plan of reorganization.
- Aircraft Lease. Represented lessor of gulfstream aircraft to Mexican entity. Matter involved extensive collaboration with aviation counsel, Mexican litigation counsel and multiple departments within client organization to achieve recovery of aircraft.
- Food Services. Represented administrative agent under $60MM credit facility to food services vendor. Matter involved disposition of substantially all assets of company through 11 simultaneous secured party sale transactions under Article 9.
- Senior Living Facility. Represented administrative agent under $150MM credit facility to senior living business in Florida. Matter involved complex inter-lender dynamics and challenging negotiations to achieve consensual result.
- International Call Center. Represented administrative agent under $750MM syndicated credit facilities to multi-national call center. Matter involved complex inter-lender governance issues and an emergency priming liquidity facility.
- Fitness Franchisor. Represented administrative agent under $75MM credit facility in connection with potential sale and/or wind-down of fitness franchise.
- Pharmaceutical Company. Represented administrative agent in $65MM club deal to pharmaceutical company. Representation involved preservation of intellectual property licenses in connection with an Article 9 secured party sale transaction.
- Tool manufacturer. Represented lender in $25MM loan to tool/equipment manufacturer. Representation involved company-side corporate governance dispute and intellectual property issues.
- Agriculture. Represented senior lender owed over $100MM by grain processor located in Louisiana. Case was consensually resolved following a contested plan process and multiple adversary proceedings between and among creditors (including client).
Notable
Notable
- Chambers USA - North Carolina, Bankruptcy/Restructuring, 2011-2025
- Best Lawyers in America, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, 2009-2025
- Business North Carolina Legal Elite, Bankruptcy, 2024
- Certified Mediator
- Trained in Collaborative Practice
- Hiring Member, Moore & Van Allen, 2010-2014
- Former law clerk to Hon. Edward F. Harrington, United States District Judge (D. Mass.)
- Former varsity football player, Yale College
News
News
Insights
Affiliations
Affiliations
- American Bankruptcy Institute
- American Bar Association
- North Carolina Bar Association
Capabilities
Education
J.D., Boston College, 1998, summa cum laude; Order of the Coif; Editorial Board, Boston College Law Review
B.A., Yale University, 1994
Admissions
- Connecticut, 1999
- North Carolina, 1999
- Massachusetts, 1998
- U.S. District Courts for the Eastern, Middle and Western Districts of North Carolina