Thomas R. Califano

TOM CALIFANO represents large private and public companies in distress in and out of court; buyers of distressed companies and significant creditor constituencies. His practice has a particular emphasis on company and buy side representations, working in a variety of industries including healthcare, energy, and financial services.

Tom has been recommended by Legal 500 U.S. for his “excellent reputation across all aspects of in and out of court restructurings.” He has also been repeatedly recognized for his work in Bankruptcy/Restructuring by Chambers USA (2012–2025), with clients describing him in the 2024 guide as “an outstanding attorney,” whose “intelligence, experience and compassion guarantee the best results.” Tom is also lauded as “a genius who will make sure the client’s interests are best protected” and “an aggressive and fierce advocate for his clients” with an “expertise in advising financially troubled companies and buyers of distressed assets.” Clients are “extremely impressed at his ability to control a room and get an outcome,” while “[o]bservers admire that he is ‘constantly thinking of new ideas and ways to help clients.’” Tom is listed in The Best Lawyers in America and has been named a New York Super Lawyer. In 2010, Financial Times also commended him for his restructuring work in its US Innovative Lawyers report.

Prior to joining Sidley, Tom was the global co-chair and U.S. chair of the restructuring group at another global law firm.

• Prospect Medical Holdings, Inc., a California-based hospital operator, and several of its subsidiaries in its ongoing Chapter 11 cases in the United States Bankruptcy Court for the Northern District of Texas. With over US$2.2 billion in outstanding funded debt, Prospect’s Chapter 11 cases are among the largest filed in 2025.
• CareMax Inc., an operator of medical centers catering largely to elderly patients, and certain of its affiliates in connection with their pre-arranged Chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas.
• Ebix, Inc., a global software and technology company, and certain of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas, through a successful asset sale and sponsored plan of reorganization.
• Eiger Biopharmaceuticals, Inc., a Palo Alto, California-based biopharmaceutical company that developed treatments for rare metabolic diseases, in its Chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas through three successful asset sales and a consensual plan of liquidation, resulting in the prepetition secured lender and unsecured creditors being paid in full and distributions being made to equity.
• Stonepeak Infrastructure Partners in connection with the Chapter 11 cases of Akumin, Inc. in the U.S. Bankruptcy Court for the Southern District of Texas.
• Accelerate Diagnostics, Inc., an innovative diagnostic testing company, in the out of court restructuring of its matured bond debt.
• Anthelion Capital Holdings in the acquisition of the Energy business unit of integrated electric bus and commercial vehicle power train manufacturer Proterra Inc. through a debt for equity conversion.
• Reverse Mortgage Investment Trust Inc. (“RMIT”) and its subsidiaries in the restructuring of its US$1.2 billion of funded debt in the U.S. Bankruptcy Court for the District of Delaware.
• GVS Portfolio I, LLC (Great Value Storage) in its US$588 million Chapter 11 auction that resulted in all creditors being paid in full and over US$80 million returned to equity in the Northern District of Texas.
• Amsterdam House Continuing Care Retirement Community, Inc., in its Chapter 11 case in the United States Bankruptcy Court for the Eastern District of New York.
• Joint Provisional Liquidators of Luckin Coffee Inc., a Chinese coffee company and coffeehouse chain, in its Chapter 15 proceedings and the formulation of possible restructuring options involving convertible noteholders and class action claimants in the USA.
• REVA Medical, Inc. in its “pre-packaged” Chapter 11 case In re REVA Medical, Inc. in the U.S. Bankruptcy Court for the District of Delaware.
• Endologix, Inc. and seven affiliates, a publicly held company that develops, manufactures, and sells innovative medical devices for the treatment of aortic disorders, in connection with the restructuring of over US$250 million pursuant to a pre-negotiated plan of reorganization that was confirmed in 78 days in the United States Bankruptcy Court for the Northern District of Texas.
• Spyglass Media Group, LLC (f/k/a Lantern Entertainment LLC) in The Weinstein Company Chapter 11 case as purchaser of the Weinstein Company assets in extensive post sale litigation. (2020)
• Lantern Capital, as DIP lender and (along with ABG) purchaser of substantially all the assets of Lucky Brand Jeans.
• PHI, Inc., a helicopter oil field services and medevac operator, in connection with their Chapter 11 filings in the US Bankruptcy Court for the Northern District of Texas.
• 4 West Holdings, Inc., Orianna Investment, Inc. and 133 affiliates, collectively a health care business that owns and operates skilled nursing homes across seven states, in its Chapter 11 proceedings in the U.S. Bankruptcy Court for the Northern District of Texas.
• Constellation Healthcare Technologies and 22 affiliates representing a rollup of revenue cycle management, physician practice management, and related businesses in Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of New York.

Some of the above matters were handled prior to joining Sidley.

• Member, Law360’s 2021 Bankruptcy Editorial Board
• Member, American Bankruptcy Institute
• Member, Turnaround Management Association
• Member, New York City Bar Association Bankruptcy Committee
• Member, American Health Lawyers Association