Andrew Glantz is a business restructuring and special situations associate in New York. Andrew represents private equity sponsors, corporate debtors, ad-hoc and official committees, and significant creditors, lenders and third-party purchasers in connection with out-of-court restructurings, chapter 11 cases, and distressed financings and acquisitions. He regularly advises significant hedge fund clients on new debt and equity investments, including structuring complex claims trades, participation agreements and related diligence.
Andrew was recently seconded to KKR where he was embedded as a desk lawyer with the global Special Situations investment team. On the desk, he covered portfolio positions within the Special Situations funds, supported related transactions, and advised KKR on new investments, including rescue, DIP and exit financings, distressed-for-control trades, claims trades, and other event-driven and bespoke structured investments. Andrew is also a trained mediator and has facilitated dozens of cases in Manhattan Civil and Small Claims Court.
Andrew entered the practice of law after dedicating his early career to advising innovators and investors on sustainable business strategy, change management, marketing and design. He has helped streamline operations, develop compelling brands, and commercialize groundbreaking products—including the Chevrolet Volt. Andrew is also a widely-cited author on the history of the British window tax.
Prior to joining Ropes & Gray, Andrew was an associate in a leading bankruptcy and financial restructuring practice at another international law firm in New York.
- Representing a California-based private equity sponsor of a national retailer in connection with an amendment and standstill agreement between the company and term lenders.
- Represented (as lead counsel) commercial composting company CERO Cooperative, Inc. (CERO) in a consensual out-of-court restructuring involving entry into a standstill agreement, entry into a restructuring support agreement and definitive documentation to effect a debt-for-equity swap and other loan modifications (eliminating over 50% of indebtedness), entry into new financing from institutional and private investors, and obtaining other relief under the CARES Act and related programs.
- Represented Elliott Management Corporation in respect of a $2.5 billion preferred equity investment in FirstEnergy Corporation and the formation of a restructuring working group to advise the company on its transition to a fully regulated utility and related restructuring of its subsidiary FirstEnergy Solutions.
- Represented Elliott Management Corporation as the largest unsecured creditor in the chapter 11 restructuring of Energy Future Intermediate Holding Company LLC and its debtor affiliates in the District of Delaware.
- Represented a distressed debt investor in connection with a potential investment related to PG&E Corporation, involving analysis of complex legal issues relating to make-whole claims, postpetition interest, wildfire claims liability, re-insurance issues, and anticipated treatment of power purchase agreements in bankruptcy.
- Represented an investor group in connection with the acquisition and prosecution of claims against Westinghouse Electric Company LLC, resolved through a consensual plan of reorganization in the company’s chapter 11 cases in the Southern District of New York that provided 100% of the bankruptcy estate’s residual value to the investor group.
- Represented an ad hoc group of unsecured noteholders of GenOn Energy, Inc. and GenOn Americas Generation, LLC (wholesale power generation subsidiaries of NRG Energy, Inc.) in their pre-arranged chapter 11 reorganization in the Southern District of Texas, including entry into a restructuring support agreement with over 90% noteholder support contemplating a debt-for-equity conversion, exit financing, and a cash settlement payment from NRG Energy, Inc.
Represented a national locating services company in connection with the purchase of a competitor’s assets in a 363 sale.
- Represented a holder of secured revenue bonds issued by Puerto Rico Electric Power Authority (PREPA) in a successful challenge to the debtors’ proposed DIP financing in the District of Puerto Rico.
- Represented a New York-based private equity firm and its limited partners in fraudulent conveyance litigation in Alabama in connection with a dividend recapitalization of a portfolio company.
- Represented a New York-based investor in respect of a real-estate joint venture and related negotiations with a non-debtor subsidiary of Toys “R” Us, Inc. during the retailer’s chapter 11 restructuring in the Eastern District of Virginia.
- Represented a New York-based private equity firm in respect of a distressed retailer to which a portfolio company was a leading supplier in its product category.
- Represented a distressed brand portfolio manager in connection with a multi-step refinancing and exchange transaction that avoided a chapter 11 filing.
- Represented the Brady Campaign to Prevent Gun Violence on various pro bono matters.
- Represented dozens of defendant shareholders, including institutional bank clients with hundreds of millions of dollars of exposure, in the successful defense of multi-billion-dollar fraudulent transfer litigation arising out of the Lyondell Chemical Company chapter 11 cases in the Southern District of New York.*
- Represented an ad hoc group of unsecured noteholders in the chapter 11 restructuring of Energy XXI Ltd in the Southern District of Texas involving complex intercompany issues and related litigation.*
- Represented an ad hoc creditor group in a successful bid to provide exit financing in the chapter 11 restructuring of GT Advanced Technologies Inc. in the District of New Hampshire.*
- Represented a prominent international law firm in the chapter 11 restructuring of Caesars Entertainment Operating Company (CEOC) in the Northern District of Illinois in respect of potential malpractice and other claims related to the firm’s representation of CEOC and affiliates in more than a dozen prepetition transactions.*
*Representations completed prior to joining Ropes & Gray.
- Co-author, “CDS ‘Net Short’ Holder Market Developments,” The New York Law Journal (September 20, 2019)
- JD, cum laude, Benjamin N. Cardozo School of Law of Yeshiva University, 2014; Dean’s Merit Scholar; Moot Court Honor Society (Finalist, Irving R. Kaufman Memorial Securities Law Moot Court Competition), ADR Competition Honor Society
- BA (Economic History), summa cum laude, University of Pennsylvania, 2008