Matthew K. Kelsey is a partner in the New York office of Gibson, Dunn & Crutcher and a member of Gibson Dunn’s Business Restructuring and Reorganization Practice Group. Mr. Kelsey’s practice focuses on representing companies, financial institutions and creditor groups inside and outside of Chapter 11 in numerous industries, including the real estate, retail, pharmaceutical, infrastructure, finance, shipping, and construction sectors.
Mr. Kelsey is recognized as a leading restructuring lawyer by Chambers USA: America’s Leading Lawyers for Business and the International Financial Law Review. Chambers notes that Mr. Kelsey “is very effective in court but also has a strong skill set across the board.” Mr. Kelsey was also recognized as one of 12 “Outstanding Young Restructuring Lawyers” in the nation in 2011 by Turnaround & Workouts Magazine. The Brookstone Holdings Chapter 11 case, which was led by Mr. Kelsey, was recognized as “Restructuring Deal of the Year” by The Deal on March 26, 2019.
Mr. Kelsey received his Juris Doctor, with honors, from Rutgers University School of Law — Newark. He obtained his Bachelor of Arts degree from Thomas Aquinas College. He is a member of the Order of the Coif and the recipient of the American Bankruptcy Institute’s Medal of Excellence. He is admitted to practice law in New York and admitted in the U.S. District Court, Southern District of New York.
Recent engagements include:
Mr. Kelsey represents companies in various industries, including EuropaCorp S.A. (French film production and distribution company) in its Chapter 15 case; Brookstone Holdings (specialty electronics retailer); The Woodbridge Group of Companies (luxury real estate investment firm); SH 130 Concession Company, LLC (privately-operated toll road); Arcapita Bank B.C.S.(c) (Bahraini private equity firm); Almatis B.V. (developer and producer of premium specialty alumina materials); TBS International plc (international shipping); Lehman Brothers Finance (Swiss subsidiary of Lehman Brothers Holdings) in its Chapter 15 case, liquidation proceedings in Switzerland, and $12.5 billion claim against Lehman Brothers Holdings; Building Materials Holding Corporation (supplier of building materials and construction services). Mr. Kelsey also represents companies and boards of directors in various out-of-court restructurings.
Mr. Kelsey represents creditors and stakeholder groups, including The Official Committee of Equity Security Holders in the Synergy Pharmaceutical Chapter 11 case; Bechtel Corporation in the Welded Construction Chapter 11 case; Goldman Sachs in the Kennewick Public Hospital District Chapter 9 case; Jamestown Properties in numerous retail Chapter 11 cases; Mesa West in connection with an out-of-court restructuring of a hotel and casino; Bank of America in connection with litigation relating to postpetition interest entitlements under ISDA Master Agreements in Lehman Brothers Holdings; the Official Committee of Unsecured Creditors in RCS Capital Corporation (retail investment advisory firm); YFE Holdings, Inc., as DIP Lender to Fresh & Easy (grocery chain); Credit Suisse and the steering committee of first lien lenders in Rural/Metro Corporation (private ambulance and emergency services); Cintra Infraestructuras, S.A. and affiliates in Indiana Toll Road (privately-operated toll road); PDL BioPharma, Inc. in connection with dismissal of bankruptcy case of Defined Diagnostics (pharmaceutical development company); Argonaut Capital as DIP lender and plan sponsor in Solyndra LLC (solar panel manufacturing); Cadence Design Systems in litigation over attempted sale by Theta Microelectronics of its patent portfolio; The Yucaipa Companies in connection with the disputed confirmation of Allied Holdings; the agent and steering committee of first lien lenders in out-of-court restructuring of Wastequip (manufacturer of waste containers); Q Investments as lender in connection with restructuring of Travelport (IT logistics for travel companies); the DIP lenders in General Growth Properties (retail REIT); Luxor Capital as senior secured lender and DIP lender in California Coastal Communities (real estate development company); the first lien lenders and DIP lenders in True Temper (manufacturer of golf club shafts); the agent for the first lien term lenders in Dayton Superior (manufacturer and distributor of concrete and masonry construction products); the indenture trustee of $800 million of leveraged lease rail car financings in CIT Group (financial institution).
Distressed M&A and Investing Advice
Mr. Kelsey represented Juniper West Properties in connection with its acquisition of The Time Nyack; Centric Brands Group in connection with the auction of certain assets of Gymboree; Welltower Inc. in its acquisition of Quality Care Properties in the HCR ManorCare bankruptcy; Citigroup in connection with the acquisition of subrogation claims in the PG&E Chapter 11 case; Apollo Global Management in connection with the auction of certain assets of Central Grocers; one of the world’s largest retailers in its acquisition of the assets of Simplexity; Tengram Capital Partners in connection with the auction of the assets of Reed & Barton; Fifteen Group and Oaktree in connection with the auction for the Plantation Fashion Mall; Cadence Design Systems in its acquisition of intellectual property assets of TranSwitch Corporation; Luxor Capital in connection with its acquisition of William Lyon Homes (a large real estate developer in California, Arizona and Nevada); Paulson & Co. in connection with the auction to acquire the Extended Stay hotel chain. Mr. Kelsey also provides distressed investing advice to investment firms, hedge funds and financial institutions.
Publications, Speaking Engagements, and Other Matters
Mr. Kelsey has authored numerous articles, including Make-Whole Provisions Still Enforceable After Momentive; Delaware Bankruptcy Court Reclaims Control of Article III Suits; The Melting Ice Cube: Diminution in Value Collateral Problems in Multi-Lien Capital Structures; A Tale of Two Cases on 3rd-Party Releases; The Battle Over 3rd-Party Releases Continues; Minimizing the Risk of Borrower Bankruptcy; Restructuring Issues Concerning Real Estate Projects; Obtaining Adequate Protection: An Analysis Pertaining to Real Estate Projects; and Debt Recharacterization Under Lothian Oil.
Mr. Kelsey’s speaking engagements include Enforcing Security Interests Outside of Bankruptcy: Remedies Under the Uniform Commercial Code, Webcast; Real Estate Lending Structures and Their Bankruptcy Drivers: Understanding How We Got Here, Webcast; The Fulcrum Playbook: How Has the Last Cycle Changed Things, Turnaround Management Association (TMA) Distressed Investing Conference; The Sun Sets on Solyndra, West Coast Turnaround Management Association; and Corporate Duties in Distressed M&A Transactions: From LOI to Closing, American Law Institute. Mr. Kelsey also leads seminars for distressed investing and workout professionals at investment firms, financial institutions and hedge funds on a variety of restructuring topics.
Mr. Kelsey is a member of the Sponsorship Committee of Catholic Renewal, a charitable organization consisting of leaders of the restructuring community that fundraises for Catholic Charities of New York.
Rutgers University - 2000 Juris Doctor
Thomas Aquinas College - 1995 Bachelor of Arts
New York Bar