Sam Newman is a partner in the Los Angeles office of Gibson, Dunn & Crutcher and a member of both the Business Restructuring and Reorganization Group and the Corporate Department. His practice involves representing creditors, debtors and other parties-in-interest in Chapter 11 cases. He also advises buyers, sellers, lenders and borrowers in transactions involving distressed assets.
Mr. Newman has been named as one of California’s leading lawyers in business and restructuring by Chambers USA – America’s Leading Business Lawyers and recognized by his peers as one of The Best Lawyers in America® in the area of Bankruptcy and Creditor-Debtor Rights Law. Mr. Newman has also been named as a Southern California Super Lawyer in the area of Bankruptcy & Creditor/Debtor Rights.
Mr. Newman’s speaking engagements include Debtor In Possession Financings: Current Developments, Los Angeles County Bar Association, When Lenders Fail: The Ultimate Indignity, The Financial Lawyers Conference; The Subprime Meltdown From an Insolvency Litigation Perspective, 11th Annual Southwest Bankruptcy Conference of the American Bankruptcy Institute; The Subprime Lending Industry: A Look at the Restructuring of a Market in Turmoil, the American Bar Association Annual Meeting, Section of Business Law; When Good Loans Go Bad: An In-Depth Discussion of the Subprime Lending Industry, Turnaround Management Association.
Mr. Newman is admitted to practice law in California. He earned his law degree magna cum laude from Georgetown University Law Center where he was elected to the Order of the Coif. He received a Bachelor of Science degree in Foreign Service from Georgetown University’s School of Foreign Service in 1992. Mr. Newman currently serves on the Board of Directors of the Boys and Girls Clubs of American and is on the National Council if the American-Israel Public Affairs Committee. Prior to joining Gibson, Dunn & Crutcher LLP, Mr. Newman held political and fundraising positions with the Democratic National Committee (DNC) in Washington, DC and served in legislative and policy positions for Senator John Glenn (OH) and Representatives Gary Ackerman (NY) and Rob Andrews (NJ). He lives in Manhattan Beach, California with his wife, Katja, and their children Jakob and Max.
Mr. Newman has represented debtors in significant Chapter 11 Cases and out-of-court restructurings, including:
- Counsel to Woodbridge Group of Companies, Natrol Inc., The Standard Register Company in connection with each of their Chapter 11 Cases.
- Special Counsel to Lake at Las Vegas in connection with debtor-in-possession financing and other transactional matters in the restructuring of close to $1 billion in debt on a Las Vegas real estate development.
- Special Counsel to ResMAE Mortgage Corporation for ResMAE’s asset sale under Section 363 of the Bankruptcy Code and debtor-in-possession financing.
- Representation of several nationally-recognized homebuilders in restructuring credit facilities.
- Credit Managers Association in its capacity as Assignee for the benefit of creditors of Westinghouse Digital Electronics LLC (“WDE”).
Mr. Newman has also represented investors in distressed assets:
- Macquarie Bank and Macquarie Securities (USA), The Yucaipa Companies LLC, Credit Suisse, Armory Credit Opportunity Fund, Capstone Equities, Lateral Investment Management, PDL Biopharma, Inc., Creo Capital Partners, in connection with a variety of investments.
- Mesa West Real Estate Income Fund, Blackstone Real Estate Special Situations Fund, Deutsche Bank Mortgage Capital, LLC, Fortress Investment Group, KKR Real Estate Finance Manager LLC, Colony NorthStar, Inc., and TPG RE Finance Trust, Inc. in connection with transactions, bankruptcies, foreclosures and workouts, including hospitality, gaming, hotel, residential and commercial properties.
- The Official Committee of Unsecured Creditors of TPP Acquisition Inc. (a/k/a “The Picture People”).
- Credit Suisse as member of the Official Committee of Unsecured Creditors in the People’s Choice Home Loan, Inc. bankruptcy.
- KS Automotive, Inc. as a member of the Official Committee of Unsecured Creditors in the Chapter 11 case of auto parts manufacturer, Plastech, Inc.
- SK Telecom Americas, Inc. in its bid for the assets of Blockbuster Video, Inc.
- Contec Corp. in its acquisition of the PowerBalance Corporation through a sale conducted pursuant to Section 363 of the Bankruptcy Code.
- Ernst & Young LLP in its capacity as independent consultant to one of the nation’s largest residential mortgage servicers in evaluating the servicer’s compliance with Federal bankruptcy laws.
Other transactional engagements include:
- Paulson & Co. in their successful stalking horse bid for the western states assets of TOUSA Homes, Inc. and certain of its affiliated debtors.
- Chriscott USA Inc. in closing their successful purchase of the assets of Barzel Industries Inc., a major steel tubing manufacturer with operations in the United States and Canada.
- Vail Resorts, Inc. in several acquisitions of western-states resort properties.
- Controlling noteholders in exercising remedies in connection with privately-held $300 million manufacturing and distribution company.
- Holder of secured debt issued by manufacturing company in an effort to force sale of company to third-party acquirer.
- Defaulting debtor in connection with foreclosure efforts by lender group.
- Federal Home Loan bank in buying and selling participation interests in federally insured mortgages to participating banks.