Overview
Tim Walsh, global co-chair of Steptoe’s Restructuring & Insolvency practice, advises clients on all aspects of restructuring transactions. Tim has represented debtors in possession, creditors' committees, trustees, secured and unsecured creditors, bondholders, insurance companies, US and non-US lenders, and corporate clients in a broad range of bankruptcy and commercial real estate matters. His international practice spans the globe, as Tim has assisted clients in foreign jurisdictions, such as Canada, Mexico, Brazil, Chile, Venezuela, Cayman Islands, Ireland, United Kingdom, France, Germany, Italy, South Africa, China, and Japan. Additionally, he regularly represents and advises boards of directors on restructuring issues.
Tim is an experienced bankruptcy litigator and conducts detailed investigations into insider transactions, fraudulent conveyances, and preference transactions. He also represents parties in out-of-court workouts and purchases of distressed debt and distressed assets. Tim was the co-lead of the Bank Receiverships Task Force, where he advised customers of banks that closed and were placed in receivership and have dealt with the requirements resulting from the FDIC bank receivership process.
- New York
- J.D., New York Law School, 1991
- M.B.A., Adelphi University, 1989, cum laude
- B.S., State University of New York, 1982
Representative Matters
Some of the experience represented below may have been handled at previous firm.
Bankruptcy Representations
- Debtor representation of online birth control and telehealth company, The Pill Club Pharmacy Holdings, et al.
- Debtor representation of turnkey aerostructure manufacturer, Fore Machine Inc., et al.
- Debtor representation of provider of acquisition equipment, software, planning and seismic processing services, and seismic data libraries to the global oil & gas industry, ION Geophysical Corp., et al.
- Representation of Ad Hoc Committee of approximately 160 former employees of failed First Republic Bank seeking approximately $30 million in their capacity as participants in the Bank's deferred compensation plan in the receivership.
- Debtor representation of upstream oil & gas company operating Furie Operating Alaska in its Chapter 11bankruptcy proceedings.
- Debtor representation of Agera Energy, a retail supplier of electricity and natural gas, in its Chapter 11 bankruptcy proceedings.
- Debtor representation of an intraoperative neurophysiological monitoring company, ProNerve Holdings, LLC in its Chapter 11 proceedings, including a successful sale of ProNerve’s assets for $35 million pursuant to Section 363of the Bankruptcy Code.
- Debtor representation of a firearms distributor, United Sporting Companies, in its Chapter 11 bankruptcy proceedings.
- Debtor representation of Affirmative Insurance Holdings, Inc., a publicly traded insurance company, in its Chapter11 proceedings.
- Debtor representation of Victory Memorial Hospital in its Chapter 11 bankruptcy proceedings.
- Debtor representation of The Parkway Hospital, Inc in its Chapter 11 proceedings.
- Debtor representation of Globe Metallurgical, Inc., a manufacturer of metallurgical and chemical-grade silicon metal and silicon-based alloys in its Chapter 11 proceedings.
- Debtor representation of Western Dialysis Management Center in its Chapter 11 proceedings.
- Debtor representation of telecommunication exchange carrier, Empire One Telecommunications, Inc., in its Chapter 11 proceedings.
- Represented the official committee of unsecured creditors in cryptocurrency financial services platform Cred Inc.’s Chapter 11 cases.
- Represented the official committee of unsecured creditors in specialty metals supplier Energy Alloys Holdings, LLC’s Chapter 11 cases.
- Represented the official committee of unsecured creditors in leading lifestyle brands owner and licensee Centric Brands, Inc.’s Chapter 11 cases.
- Represented the official committee of unsecured creditors in wholesale distributors of Italian specialty foods and food related products Lisanti Foods, Inc’s Chapter 11 cases.
- Represented bondholder group holding in excess of $180 million in skilled nursing and assisted-living centers Genesis Health Ventures’ Chapter 11 cases.
- Represented ad hoc bondholder group holding $300 million in principal amount in connection with the reorganization of Brazilian oil and gas company OGX Petroleo & Gas Participacoes SA, the largest restructuring in Latin America to date.
- Represented four of the world’s five largest intermodal shipping container lessors in the Chapter 15 case of Hanjin Shipping Co., Ltd., and related insolvency proceedings worldwide, including Korea.
- Represented an international apparel manufacturer and retailer with approximately 1,000 store locations in connection with a potential Chapter 11 bankruptcy filing.
- Represented Japanese real estate portfolio in connection with the wind-up of all operations under state dissolution proceedings and in Chapter 11 proceedings.
- Represented international fuel bunker supplier O.W. Bunker Germany GmbH as a debtor in Chapter 15proceedings and in connection with litigation in New York and Texas regarding unpaid fuel bunker receivables.
- Represented renewable energy investment fund in connection with the potential acquisition of $1 billion of solar energy assets in the United States under Section 363 of the Bankruptcy Code.
- Represented bidders in connection with the potential acquisition of casino and related assets in Atlantic City, New Jersey, under Section 363 of the Bankruptcy Code.
- Represented major publicly traded global media company as trade creditor in multiple bankruptcy proceedings.
Out-of-Court Restructurings & Other Representations
- Represented Erste Abwicklungsanstalt as part of bank syndicate in connection with the reorganization of Samarco Mineracao S.A., the Brazilian mining company, following dam disaster
- Debtor’s counsel in an out-of-court international restructuring of a $2 billion real estate portfolio.
- Represented secured lenders in connection with a senior secured credit facility in the amount of $306 million for the private portion of the financing of a 99-year concession for a toll road in the United States.
- Represented an $80 billion publicly traded company in connection with seeking access to sealed information filed in 13 asbestos bankruptcy cases.
- Represented foreign bank as lender in its $500 million participation in a multi-billion-dollar senior unsecured revolving credit facility with borrowers Countrywide Financial Corporation and Countrywide Home Loans, Inc., the country’s largest mortgage provider.
- Represented a lender and noteholder in several distressed credit facilities and collateralized bond offerings involving Credit-Based Asset Servicing and Securitization LLC (C-Bass) and several C-Bass affiliates as borrowers and issuers of commercial paper, including credit facilities and indentures in an aggregate amount of approximately $3 billion.
- Represented foreign bank in workout of $110 million portfolio of equity loans to builders throughout Florida, secured by assignments of the underlying notes and mortgages.
- Represented residential condominium high rise owner in restructuring of a $40 million secured credit facility.
News & Publications
Press Releases
Steptoe Expands Restructuring and Insolvency Team with Addition of Partner Tim Walsh
September 5, 2024
Noteworthy
- IFLR1000, Bankruptcy and Restructuring Law (2023-2024)
- Best Lawyers in America, Bankruptcy and Creditor Debtor Rights/ Insolvency and Reorganization Law (2024)
- Legal 500 US (2015, 2017, 2018, 2019)
- Super Lawyers, Highly Regarded, Restructuring (2021)