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Profile Picture

Robert Klyman

Robert
Klyman

Partner

CONTACT INFO

rklyman@gibsondunn.com

TEL:+1 213.229.7562

FAX:+1 213.229.6562

Los Angeles

333 South Grand Avenue, Los Angeles, CA 90071-3197 USA

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PRACTICE

Business Restructuring and Reorganization Betting and Gaming Crisis Management Media, Entertainment and Technology Mergers and Acquisitions Power and Renewables Transportation and Space

BIOGRAPHY

Robert A. Klyman is a partner in the Los Angeles office of Gibson, Dunn & Crutcher and member of the Business Restructuring and Reorganization Practice Group.  In his international practice, Mr. Klyman represents companies,  lenders, ad hoc groups of secured and unsecured creditors, acquirers and boards of directors in all phases of restructurings and workouts.  His experience includes representing lenders and bondholders in complex workouts; advising debtors in connection with traditional, prepackaged and ‘pre-negotiated’ bankruptcies; counseling strategic and financial players who acquire debt or provide financing as a path to take control of companies in bankruptcy; structuring and implementing numerous asset sales through Section 363 of the Bankruptcy Code; and litigating complex bankruptcy and commercial matters arising in chapter 11 cases, both at trial and on appeal.

Robert Klyman has been widely and regularly recognized for both his debtor and creditor work as a leading bankruptcy and restructuring attorney by Chambers USA (where clients recognized him as “incredibly smart, commercial, [having]  terrific business judgment, and … extremely hard-working and reachable at any time,” “great in court,” “a great strategist” and “incredibly technically sound”); named as one of the world’s leading Insolvency and Restructuring Lawyers by Euromoney; recognized as one of 8 bankruptcy lawyers of the year by IFLR1000 in 2020,  listed in the K&A Restructuring Register, a leading peer review listing, as one of the top 100 restructuring professionals in the United States; named as a ‘Top Bankruptcy M&A Lawyer’ by The Deal’s Bankruptcy Insider; named as one of the 12 outstanding bankruptcy lawyers in the nation under the age of 40 (in 1999, 2000, 2002 and 2004) by Turnarounds & Workouts; and one of ’20 lawyers under 40′ to watch in California by the Daily Journal.  Turnarounds & Workouts also named him to its 2016 list of Outstanding Restructuring Lawyers, honoring 12 attorneys as leaders in the bankruptcy field.  Mr. Klyman also has been selected regularly by his peers for inclusion in The Best Lawyers in America© in the field of Bankruptcy and Creditor Debtor Rights.

Mr. Klyman developed, and for 20 years co-taught, a case study for the Harvard Business School on prepackaged bankruptcies and bankruptcy valuation issues.  He has also taught classes on bankruptcy dealmaking and strategy at the University of Michigan Business School, Massachusetts Institute of Technology’s Sloan School of Management and UCLA Law School.  Mr. Klyman is also a member of the ABA Subcommittee that drafted the ABA Model Bankruptcy Asset Purchase Agreement.  He  also regularly serves as a panelist presenting cutting edge issues in restructuring and bankruptcy.

Mr. Klyman received both his J.D. from the University of Michigan Law School in 1989 and his B.A. degree from the University of Michigan in 1986.

Mr. Klyman is admitted to the California Bar.  Prior to joining Gibson Dunn in 2014, Mr. Klyman was a partner at the firm of Latham & Watkins for more than 17 years.

Mr. Klyman’s representative transactions include:*

  • The Sports Authority (a leading sport goods retailer with 425 leases and more than $1 billion in debt) as debtor in its bankruptcy case.
  • Freedom Communications (the owner of more than 70 newspapers and television stations) as debtor in its bankruptcy case (restructured approximately $1.1 billion in debt).
  • Leap Wireless Communications, Inc. as debtor in its bankruptcy case (restructured approximately $2.6 billion in debt and more than 100 leases).
  • A major Atlantic City hotel and casino company as debtor in its bankruptcy case (restructured approximately $1.5 billion in debt).
  • Stimwave Technologies Incorporated as debtor in its bankruptcy case.
  • Natrol (an international vitamin manufacturer and distributor) as debtor in its bankruptcy case which culminated in the 363 sale of its assets to Aurobindo Pharma for $132.5 million plus assumed liabilities.
  • Representing Lynn Tilton and her affiliated Patriarch entities in the chapter 11 cases of the Zohar Funds, three Cayman-island based CLO hedge funds.
  • A landlord with a master lease covering more than 200 locations with a single financially distressed tenant.
  • An ad hoc group of bondholders representing approximately $2 billion of debt issued by iHeart Communications, Inc.
  • An ad hoc group of bondholders representing approximately $2 billion of debt issued by an international telecommunications company.
  • An ad hoc group of lenders representing approximately $1.5 billion of senior debt issued by Garrett Motion.
  • Blue Torch Capital as debtor in possession financing lender to Exide Technologies.
  • An international lender in its $3 billion rescue financing loan to the CIT Group, Inc.
  • A major Indian bank in the restructure of its loan to a US manufacturing facility through a US bankruptcy proceeding.
  • US Airways, in its acquisition of American Airlines through a plan of reorganization.
  • The Yucaipa Companies in the acquisition of the Fresh & Easy Grocery chain, including approximately 100 retail lease locations.
  • Frontline Ltd., the largest shipping company in the world, in the acquisition of one of its biggest competitors through a plan of reorganization where Frontline exchanged its shares trading on the Oslo stock exchange for more than $1.5 billion in debt.
  • Greystar Real Estate Partners in its acquisition of a 222-unit condominium complex through a chapter 11 plan of reorganization.
  • Welltower Incorporated in the restructuring of hundreds of millions of dollars in loan and lease obligations with Genesis Healthcare.
  • Machine Zone, a leading developer of video games, in its sale to AppLovin.
  • Foster Farms, in its acquisition of a chicken rendering plant from Pilgrims’ Pride through a 363 asset sale.
  • Other acquisitions through plans of reorganization and 363 asset sales, including Great Atlantic & Pacific Tea Company, a grocery store chain with more than $2 billion of debt, Allied Holdings, Inc., the largest car and truck hauler in North America, and OCZ Technology Group, a leading flash drive manufacturer.

Mr. Klyman also has extensive litigation experience at trial and on appeal, including:

  • Successfully serving as lead trial attorney in contested confirmation hearings and other contested matters, including representing lenders who held both equity and debt in chapter 11 debtors;
  • Successfully representing private equity funds and boards of directors in a wide range of industries against claims for breach of fiduciary duties, breach of contract and equitable subordination brought by chapter 11 debtors, chapter 7 trustees and litigation trusts; and
  • Obtaining a total defense verdict in the precedent setting trial – and successfully handling the Third Circuit Court of Appeal argument – involving subordination and recharacterization of loans and damages for breach of fiduciary duty (In re Submicron Corporation, 432 F.3d 448 (3d Cir. 2006)).

* Includes matters handled prior to joining Gibson, Dunn & Crutcher LLP

 

EDUCATION

University of Michigan - 1989 Juris Doctor

University of Michigan - 1986 Bachelor of Arts

ADMISSIONS

California Bar

RECENT PUBLICATIONS

Firm News - January 17, 2023 | Who’s Who Legal 2023 – Restructuring & Insolvency Recommends Five Gibson Dunn Partners
Webcasts - January 12, 2023 | Webcasts: Gibson Dunn’s Annual California MCLE Marathon – 2023
Firm News - October 6, 2022 | Thirty-Nine Gibson Dunn Partners Recognized in Banking, Finance and Transactional Expert Guide 2022
Webcasts - February 10, 2022 | Webcast: Getting Ready for the Next Cycle: Strategies to Understand and Mitigate Risks to Real Property Leases, Interests and Rights of First Refusal
Article - February 2, 2022 | Lenders’ Security Interest in UCC Accounts May Unlock Value in Retail Bankruptcy Cases
Firm News - January 18, 2022 | Lawdragon Names Five Partners Among its 2022 Leading U.S. Bankruptcy & Restructuring Lawyers
Firm News - December 16, 2021 | Who’s Who Legal 2022 Restructuring & Insolvency Recommends Five Gibson Dunn Partners
Firm News - October 7, 2021 | Thirty-Eight Gibson Dunn Partners Recognized in Banking, Finance and Transactional Expert Guide
Webcasts - January 19, 2021 | Webcast: Bankruptcy and Real Estate: Risks and Opportunities in Distressed Situations
Firm News - October 7, 2020 | 33 Gibson Dunn Partners Recognized in Banking, Finance and Transactional Expert Guide
Webcasts - June 26, 2020 | Webcast: Bankruptcy and Financial Distress: Fiduciary Duty and Fraud Considerations for Private Equity Firms
Client Alert - June 15, 2020 | Ninth Circuit Ruling in Bankruptcy Appeal Has Significant Implications for Lenders in Bankruptcy Cases
Publications - May 20, 2020 | Bankruptcy Fraud Prosecutions May Increase Post-Pandemic
Client Alert - April 30, 2020 | Criminal Bankruptcy Fraud: Will the COVID-19 Crisis Make It the New Prosecutorial Darling?
Client Alert - April 6, 2020 | Fiduciary Duties and Board Options in a Time of Pandemic
Client Alert - March 30, 2020 | COVID-19 And Life Sciences Companies – 10 Actions To Consider
Client Alert - March 23, 2020 | Crisis Management & COVID-19 Response: Plan Now to Mitigate Against the Ripple Effects of COVID-19 Crisis
Firm News - January 30, 2020 | Who’s Who Legal Names 12 Partners to Practice Guides for Trade & Customs, Arbitration and Restructuring & Insolvency
Firm News - August 15, 2019 | Gibson Dunn Lawyers Recognized in the Best Lawyers in America® 2020
Webcasts - February 12, 2019 | Webcast: Getting Ready for the Next Cycle: Strategies for Distressed Out of Court Workouts and Exchanges
Firm News - January 15, 2019 | Five Gibson Dunn Partners Recognized in Who’s Who Legal in Restructuring and Insolvency
Webcasts - July 31, 2018 | Webcast: Strategies Regarding Corporate Veil Piercing and Alter Ego Doctrine
Firm News - May 25, 2018 | Who’s Who Legal Recognizes Six Gibson Dunn Partners
Article - March 1, 2018 | Avoiding Potential Pitfalls and Liabilities Following a Spin-Off
Webcasts - October 31, 2017 | Webcast: Spinning Out of Control: Potential Pitfalls and Liabilities in Spin-Off Transactions
Webcasts - March 16, 2017 | Webcast: Identifying and Combatting Fraud and Other Misconduct in Transactions and Litigation
Webcasts - February 1, 2017 | Webcast: The Enforceability of “Make-Whole” Premiums after Momentive and EFH
Client Alert - January 25, 2017 | Enforceability of Make-Whole Premiums Following Momentive and Energy Future Holdings
Webcasts - February 24, 2016 | Webcast – Insolvency, Incivility, and Incorrigibility: A Look Into the World of High-Stakes, Bare-Knuckles Bankruptcy Litigation
Webcasts - April 30, 2015 | Webcast: Pension Tension: The Treatment of Underfunded Pensions In and Out of Bankruptcy
Webcasts - November 19, 2014 | Webcast – The New Rules of Engagement in the World of Bankruptcy: Make Wholes / Prepayment Premiums and Cram Down
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