Alex Talesnick

Alex represents agents, lenders, and hedge providers in the workouts and out-of-court restructurings of distressed companies in a wide variety of industries, including oil and gas, metals and mining, alternative energy, commodities, commercial real estate, transportation and logistics, healthcare, retail, hospitality, travel, fitness, food distribution and processing, manufacturing, demolition and remediation, automotive, education, digital marketing, technology, and financial services.  

Alex also counsels clients on all aspects of bankruptcy proceedings, including cash-collateral negotiations, debtor-in-possession financing, 363 asset sales and credit-bid acquisitions, pre-negotiated plans of reorganization, plan confirmation, exit financing, and distressed debt and claims trading.

Alex lectures frequently on workouts of troubled loans, developments in bankruptcy law, and the treatment of derivatives in bankruptcy.

Before joining Morgan Lewis, Alex was a partner at a national law firm.

• Represented the agent for a group of lenders in the out-of-court restructuring of a project finance loan to the owner of a Mexico fuel storage facility shut down by the Mexican government due to its crackdown on foreign investors in the Mexican energy sector
• Represented a lender in the out-of-court restructuring of billions of dollars of margin debt owed by a hedge fund manager and secured by shares of a publicly traded investment firm and hedge fund partnership interests
• Represented the agent for a group of secured lenders in the full repayment of their claims in The Hertz Corporation Chapter 11 proceedings
• Represented six financial institutions with revolving credit loans in the out-of-court restructuring of Travelport Worldwide Limited
• Represented a financial institution in its capacities as receivables factoring provider, hedge provider, and prepetition secured lender in the Chapter 11 proceeding of Garrett Motion Inc.
• Represented a financial institution with claims against a hedge fund arising out of the termination of variance and volatility swaps, including the consensual out-of-court liquidation of the fund and the resolution and payment of counterparty claims with the assistance of an independent plan facilitator
• Obtained repayment of a secured lender in the workout and then Chapter 11 proceeding of Rochester Drug Co-Operative Inc., a distributor of pharmaceuticals that liquidated following the settlement of criminal and civil charges brought by the federal government
• Represented eight secured bilateral lenders in the Chapter 11 proceeding of Miami Metals I Inc. (f/k/a Republic Metals Refining Corporation)
• Represented agents, secured lenders, and hedge providers in out-of-court restructurings and bankruptcy proceedings in the energy and mining industries, including companies owning gold mines, exploratory assets, wind farms, and oil and natural gas reserves such as Midway Gold US Inc., Mineral Park Inc., US Coal Corporation, Abengoa Bioenergy US Holding LLC, Abeinsa Holding Inc., Peabody Energy Corporation, Chaparral Energy, Pacific Exploration & Production Corp., Emerald Oil Inc., and Horsehead Holding Corp.
• Represented a multimedia company as intellectual property licensor/licensee and creditor in the Chapter 11 proceedings of Vice Media LLC, The Weinstein Company LLC, and THQ, Inc.
• Represented the court-appointed fee examiner in the Eastman Kodak Company and LUHC Wind Down Corp. Chapter 11 proceedings
• Represented the Chapter 11 trustee of Fletcher International Ltd., a master hedge/private equity fund in a complex master-feeder fund structure
• Represented the agent for a group of lenders in the workout of a $185 million credit facility secured by a portfolio of 16 landfill gas power generating facilities located throughout the United States, including a consensual out-of-court sale process for the repayment of the lenders’ claims
• Represented the agent for a group of lenders in the restructuring of $600 million of loans to, and accretive interest rate swap agreements with, the owner of a Chicago parking concession and the transfer of the parking concession to an entity owned by the lenders
• Represented a lender in the workout of a failed securitization of a $300 million warehouse line of credit secured by 51 real estate loans
• Represented lenders in bilateral and syndicated borrowing base revolving credit and term loan facilities to domestic and international oil and gas producers; coffee, grain, and sugar producers; agricultural product producers and traders; precious metals traders; steel manufacturers; and fisheries and fish processors