Sam Newman

Sam has represented debtors in significant Chapter 11 cases and out-of-court restructurings, including:

• Representation of ICON Aircraft, Inc. in its filing for Chapter 11 protection in Delaware, citing more than US$170 million in debt.
• Counsel to Impel Pharmaceuticals and one of its subsidiaries in connection with their Chapter 11 cases.
• Counsel to Tricida, Inc. in its restructuring, recognized as the “Healthcare/Life Sciences Deal of the Year” at The M&A Advisor’s 22nd annual M&A Advisor Awards in 2023. 
• Counsel to Ventec Life Systems in its sale to ReactHealth, recognized as the “Healthcare/Life Sciences Deal of the Year” at The M&A Advisor’s 21st annual M&A Advisor Awards in 2022.
• Counsel to Wave Computing, Inc. in its Chapter 11 sale to an affiliate of Tallwood Venture Capital, recognized as the “Information Technology Deal of the Year” at The M&A Advisor’s 15th annual Turnaround Awards in 2021.
• Counsel to a California-based oil & gas producer in an out-of-court restructuring of its $300 million capital structure.
• Counsel to Woodbridge Group of Companies, Natrol Inc., and 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 out-of-court restructurings of their credit facilities.
• Credit Managers Association in its capacity as Assignee for the benefit of creditors of Westinghouse Digital Electronics LLC (“WDE”).

Sam also represents investors in distressed assets:

• Accor in the Chapter 11 case and restructuring of the San Jose Fairmont in the United States Bankruptcy Court for the District of Delaware and in arbitration with the owner of the Fairmont San Jose.
• Fortress Investment Group, LLC, in connection with the restructuring of the historic and architecturally renowned estate in Beverly Hills, California, known as the “Beverly House,” which has been used as a filming location for a variety of classic films, including The Godfather.
• Former offices and directors in the Chapter 7 case of Education Management Corp. (EDMC), the second largest for-profit education company in the country in litigation seeking to recover more than US$200 million.
• Macquarie Bank and Macquarie Securities (USA), Credit Suisse, Armory Credit Opportunity Fund, Capstone Equities, Lateral Investment Management, PDL Biopharma, Inc., and Creo Capital Partners, in connection with a variety of investments.
• Macquarie Bank, as chair of the Official Committee of Unsecured Creditors in Relativity Media chapter 11 case. a variety of investments.
• 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:

• Curevo, Inc. in the receivership of the Infectious Disease Research Institute (IDRI) now known as Advanced Access to Health Institute, which was awarded the Turnaround Management Association Non-Profit Transaction of the Year Award for 2022.
• 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.

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

• Member, Board of Directors, Boys and Girls Clubs of America
• Member, Board of Directors, National Council of the American Israel Public Affairs Committee
• Member, Board of Governors, Financial Lawyers Conference