• Stephen D. Zide represents a diverse range of clients in Chapter 11 bankruptcy cases and out-of-court restructuring matters. Stephen has been involved in many high-profile restructurings and has experience across a number of industries. His clients include both official and ad hoc creditor and equity committees, debtors, bondholders, investors and secured lenders.

    On the creditor side, Stephen advises his clients on matters involving distressed and bankrupt companies with complex corporate and capital structures. Stephen provides incisive credit and indenture analysis and has extensive experience investigating and litigating fraudulent conveyance, fiduciary duty, intercreditor and valuation disputes; developing, negotiating and confirming Chapter 11 plans; negotiating and litigating cash collateral orders, debtor-in-possession financing, and equity commitment agreements; and developing and implementing rights offerings.

    Stephen’s creditor practice is complemented by his experience representing distressed companies. On the company side, Stephen assists debtors in navigating the complex legal, financial and operational issues that arise in Chapter 11.

    Stephen was named one of Turnaround and Workouts' 2019 Outstanding Restructuring Lawyers (one of 15), a Outstanding Young Restructuring Lawyer (one of 12) by Turnarounds & Workouts in 2015, M&A Advisor's Legal Advisor of the Year for 2020, one of M&A Advisor’s 40 Under 40 in the Legal Advisor category for 2015, one of seven Law360 Rising Stars in 2016 in the field of bankruptcy law, a New York Super Lawyer for 2019 and a Super Lawyers Rising Star for 2014 – 2017.


    • RAIT Funding LLC – Representation of the Official Committee of Unsecured Creditors in the bankruptcy cases of RAIT Funding LLC, a real estate investment trust.  The five-member Creditors’ Committee is comprised of the Bank of New York Mellon Trust, Wells Fargo, UMB Bank, Rangeley Capital and Matthew Page. The company (which has over $167 million in funded debt) sought Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware on August 30, 2019.  

    • MBIA Insurance Corp. – Represented the purchasers of $278 million 12% senior secured notes issued by MZ Funding LLC, a special purpose affiliate of MBIA Insurance Corp. The notes were issued to refinance existing notes issued by MZ Funding in 2017 to provide MBIA with financing to pay claims on its policy insuring notes issued by certain Zohar entities. MBIA Insurance Corp. issued financial guaranty insurance policies covering interest and principal on the new MZ Funding Notes. MZ Funding’s obligations are secured by its claims against certain Zohar entities.

    • Payless – Representation of an ad hoc group of first lien term lenders of Payless Inc., the largest specialty family footwear retailer in the Western Hemisphere, with approximately 3,400 stores in more than 40 countries. Payless filed for Chapter 11 bankruptcy in the Eastern District of Missouri in February 2019. The ad hoc group provided Payless with approximately $25 million of DIP financing in connection with the bankruptcy filing.

    • Ambac Assurance Corporation – Represent certain holders of preferred shares of Ambac, a subsidiary of Ambac Financial Group Inc. (AFG), in connection with an exchange of approximately $660 million aggregate liquidation preference of Ambac preferred shares for senior surplus notes of Ambac and cash and warrants from AFG.

    • Scottish Re – Representation of Hildene Capital Management in connection with the bankruptcy of Scottish Annuity & Life Insurance Co. and Scottish Holdings Inc., two subsidiaries of Scottish Re Group Ltd. (SRGL).  SRGL is a life reinsurer with operations in multiple countries including a U.S.-based, Delaware-domiciled reinsurance affiliate, Scottish Re (U.S.) Inc., which has approximately $1.68 billion in assets.

    • Westmoreland Coal Co. – Representation of an ad hoc group of first lien lenders and bondholders of Westmoreland Coal Company, the sixth largest North American coal producer. Westmoreland filed for bankruptcy in the Southern District of Texas in October 2018 after entering into a $110 million bridge loan facility and restructuring support agreement with the ad hoc group.  Westmoreland’s chapter 11 plan, which became effective in March 2019, restructured approximately $1 billion of financial debt, OPEB and other legacy liabilities.

    • Toys “R” Us – Representation of the Official Committee of Unsecured Creditors in the bankruptcy cases of Toys “R” Us, the world’s leading toy and baby products retailer, with nearly 65,000 employees and approximately 1,900 locations in 38 countries. The company sought Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Virginia on Sept. 18, 2017. The nine-member committee consists of LEGO Systems Inc., Mattel Inc., Huffy Corp., The Bank of New York Mellon, Simon Property Group Inc., KIMCO Realty, Evenflo Co. Inc., Veritiv Operating Co. and Euler Hermes North America Insurance Co.

    • Peabody Energy Corp. – Representation of Elliott Management Corp. and Aurelius Capital Management LP, as holders of more than $1 billion of secured and unsecured claims, in the Chapter 11 case of Peabody, the world’s largest publicly traded, private-sector coal company. Elliott and Aurelius participated in Peabody’s DIP financing, and a mediation that achieved agreement across Peabody’s capital structure on the terms of a Chapter 11 plan. The foundation of the plan, which was supported overwhelmingly by every class of creditors, was a $1.5 billion equity raise backstopped by Elliott, Aurelius and other creditors. Peabody’s Chapter 11 plan, which became effective in April 2016, restructured debt of approximately $8.8 billion.

    • MBIA Insurance Corp. – Representation of MBIA’s surplus noteholders and the purchasers of $328.25 million senior secured notes, issued by MZ Funding LLC, a special-purpose entity affiliate of MBIA. The proceeds of the MZ Funding notes were loaned to MBIA to pay claims on its policy insuring notes issued by the Zohar II collateralized loan obligation. MBIA issued financial guaranty insurance policies covering interest and principal on the MZ Funding notes.

    • RCS Capital Corp. – Representation of Luxor Capital Group LP, as the largest unsecured creditor in the bankruptcy case of RCS Capital Corp. On May 23, 2016, RCS emerged from bankruptcy under a new moniker, Aretec Group Inc., with a network of 9,100 independent retail investment advisers, who provide financial advice to approximately 2.5 million clients and have approximately $220 billion in assets under administration. Under the Chapter 11 plan, RCS transferred certain litigation claims to a trust for the benefit of unsecured creditors, and funded the trust with $15 million in cash and warrants for 10 percent of Aretec.

    • NII Holdings Inc. – Representation of the Official Committee of Unsecured Creditors in the bankruptcy of one of the leading providers of mobile communication services operating under the Nextel brand in Latin America. Through its Chapter 11 plan NII restructured approximately $8 billion of debt.

    • Revel Resort and Casino – Representation of Bank of New York Mellon as indenture trustee for approximately $120 million in municipal bonds issued by ACR Energy Partners LLC, the largest unsecured creditor of the Revel Resort and Casino in Atlantic City.

    • Residential Capital – Representation of the Official Committee of Unsecured Creditors in the bankruptcy of Residential Capital (ResCap). ResCap was a wholly owned subsidiary of Ally Financial Inc. (formerly GMAC) that serviced more than 2.4 million domestic residential mortgage loans with a value of approximately $374 billion. The committee played a key role in the sale of ResCap’s servicing and origination business and loan portfolio and led the negotiation of a $2.1 billion settlement between AFI, ResCap and ResCap’s major creditor constituencies, which resolved numerous contested issues in the bankruptcy cases, including RMBS “put-back” litigation.

    • Eastman Kodak Co. – Represented a group of noteholders and other creditors with more than $600 million in unsecured claims in the bankruptcy case of Eastman Kodak Co., one of the world’s leading material science companies. The group served as backstop parties in connection with Kodak’s $400 million equity rights offering, forming the cornerstone of Kodak’s reorganization.

    • Orchard Brands Corp. – Represented of American Capital Ltd., in the bankruptcy cases of one of the nation’s largest catalog retailers. American Capital and other lenders provided a $140 million debtor-in-possession financing and negotiated the terms of a plan of reorganization that substantially deleveraged Orchard.

    • Cooper-Standard Holdings Inc. – Representation of the Official Committee of Unsecured Creditors of Cooper-Standard Holdings Inc., a leading manufacturer of fluid handling, body sealing, and noise and vibration control components, systems and modules in passenger vehicles and light trucks. Cooper filed for bankruptcy with more than $1.1 billion in funded debt and, in a period of less than ten months, confirmed a fully consensual Chapter 11 plan with a rights offering that eliminated more than $600 million in debt.

    • Tronox Inc. – Represented a group of state environmental authorities and water districts with substantial claims for a contaminated site located in Henderson, NV, in connection with the bankruptcy cases of Tronox. The group’s opposition to Tronox’s original Chapter 11 plan led to a modified plan that tripled the cash consideration distributed to fund the cleanup of the site.

    • Vermillion Inc. – Represented of the Official Committee of Equity Security Holders of Vermillion Inc., a developer of medical devices and diagnostic tests. Vermillion, confirmed a consensual Chapter 11 plan after nine months, providing its creditors with payment in full and the reinstatement of the company’s equity interests.

    • ASARCO LLC – Representation of holders of bonds issued by ASARCO LLC, an integrated copper-mining, smelting and refining company that was one of the leading producers of copper and nonferrous metal in the United States. The bondholders prosecuted their own plan of reorganization while opposing any plan that paid creditors less than in full, resulting in competing plans that paid unsecured creditors in full plus post-petition interest and compensation for prepayment. 

    • Dana Corp. – Representation of the Official Committee of Unsecured Creditors of Dana Corp., a leading supplier of automotive parts to every major vehicle producer in the world. The committee played a lead role in addressing issues which facilitated Dana’s reorganization, including the large-scale divestitures of unprofitable business segments, pension and other post-employment benefits, collective bargaining agreements, intercompany claims, preservation of Dana’s net operating losses, potential asbestos liabilities, negotiations with customers and suppliers, and a rights offering and plan sponsor.

    • Premier Trailer Leasing Inc. – Representation of the second lien agent and lender in the bankruptcy of Premier Leasing, a provider of semitrailer rentals for the midmarket segment of the transportation industry.

    • Wolverine Tube Inc. – Representation of Plainfield Asset Management LLC as the largest secured creditor in the bankruptcy case of Wolverine Tube, a global manufacturer of copper and copper alloy tube and metal joining products.

    • Visteon Corp. – Representation of a substantial equity holder in the bankruptcy case of Visteon, a global automotive supplier.

    • Genco Shipping & Trading Ltd. – Representation of the international dry bulk shipping company in restructuring $1.4 billion of debt through a prepackaged plan of reorganization that allowed Genco to convert more than $1 billion of secured debt and $125 million of unsecured bonds into new equity, amend and restate two separate loan facilities aggregating $250 million, unimpair trade creditors, obtain $100 million in capital through a rights offering, and provide a gift of warrants to old equity holders. Genco’s plan was confirmed in less than three months over the objection of an official equity committee after a hotly contested valuation trial.

    • General Maritime Corp. – Representation of one of the largest shipping companies in the world, with operations in more than 230 ports of call in some 70 countries, in the seventh largest bankruptcy filing of 2011. General Maritime filed for bankruptcy amid the worst downturn in the shipping industry in decades, with a $75 million debtor-in-possession facility and a restructuring support agreement that contemplated a $175 million new capital infusion, obtained approval of a disclosure statement over the objection of the creditors’ committee within three months, and ultimately reached an agreement on the terms of a fully consensual plan of reorganization, emerging from bankruptcy after eliminating approximately $600 million of financial debt and $42 million in annual interest expense.

    • Saint Vincent Catholic Medical Centers – Representation of the prominent health care system with operations throughout New York City and surrounding counties, in Chapter 11 cases involving complex issues affecting the preservation and disposition of substantial assets (including the debtors’ Manhattan real estate formerly used to operate the hospital), ongoing patient care subject to regulatory oversight by various agencies, and a diverse group of creditors (including various classes of secured, union, pension and medical malpractice creditors), which resulted in a fully consensual Chapter 11 plan.

    • Bally Total Fitness Holding Corp. – Representation of one of the largest full-service commercial operators of fitness centers in North America, in the restructuring of the company’s operations (including more than 300 fitness clubs), the securing of exit financing, the negotiation of a consensual disclosure statement and plan of reorganization, and its emergence from bankruptcy with a substantially restructured operational footprint and its debt burden reduced from approximately $800 million to $75 million.

    • Ascendia Brands Co. Inc. – Representation of a national leader in the manufacture and sale of blended and private label health and beauty care products, in a bankruptcy that involved marketing and selling the company’s portfolio of nationally and internationally recognized brands such as Baby Magic, Binaca, Mr. Bubble, Calgon, Ogilvie and Lander.

    • Berry-Hill Galleries – Representation of the world-class art gallery, operated by members of the Hill family for more than 100 years, in obtaining confirmation of a plan of reorganization that provided for payment in full, plus interest, of allowed claims, and the stabilization of a fragile business that was beset by litigation on multiple fronts and confronted with significant liquidity concerns.



    • J.D., magna cum laude, Brooklyn Law School, 2004
      • Notes and Comments Editor, Journal of Law and Policy
      • CALI Excellence for the Future Awards in Securities Arbitration and New York Civil Practice
      • The American Bankruptcy Award Journal Student Prize
      • Dean's List, all semesters
      • Carswell Merit Scholar
    • B.A., Political Science, magna cum laude, Queens College of the City University of New York, 1999

    Bar Admissions

    • New Jersey, 2004
    • New York, 2005


    • Honorable Jerome Feller, U.S.B.C., Eastern District of New York, 2004 - 2006

    Court Admissions

    • U.S.D.C., Eastern District of New York
    • U.S.D.C., Southern District of New York
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