Robert A. Klyman is a partner in the Los Angeles office of Gibson, Dunn & Crutcher and a member of the Business Restructuring and Reorganization and the Energy and Infrastructure Practice Groups as well as the Corporate Department. Mr. Klyman represents debtors, acquirers, lenders and boards of directors. His experience includes advising debtors in connection with traditional, prepackaged and “pre-negotiated” bankruptcies; representing lenders and other creditors in complex workouts; 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.
Mr. Klyman has been widely and regularly recognized for his debtor and lender work as a leading bankruptcy and restructuring attorney by Chambers USA; named as one of the world’s leading Insolvency and Restructuring Lawyers by Euromoney; 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.
Mr. Klyman developed, and for the past 15 years co-taught, a case study for the Harvard Business School on prepackaged bankruptcies and bankruptcy valuation issues. He has also taught classes on dealmaking in the bankruptcy courts at the University of Michigan Business School and UCLA Law School. Mr. Klyman is also a member of the ABA Subcommittee responsible for drafting a Model Bankruptcy Asset Purchase Agreement.
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, Mr. Klyman was a partner at the firm of Latham & Watkins for more than 17 years.
Mr. Klyman’s representative transactions include:*
- Freedom Communications as debtor in its bankruptcy case (restructured approximately US$1.1 billion in debt).
- Leap Wireless Communications, Inc. as debtor in its bankruptcy case (restructured approximately US$2.6 billion in debt).
- A major Atlantic City hotel and casino company as debtor in its bankruptcy case (restructured approximately US$1.5 billion in debt).
- An international lender in its US$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.
- Natrol in the sale of its assets to Aurobindo Pharma for US$132.5 million plus assumed liabilities.
- Frontline Ltd., the largest shipping company in the world, in the acquisition of one of its biggest competitors through a plan of reorganization.
- The Yucaipa Companies in the takeover of various entities through the bankruptcy process, including (a) Great Atlantic & Pacific Tea Company, a grocery store chain with more than US$2 billion of debt, (b) the Fresh & Easy Grocery Store Company and (c) Allied Holdings, Inc., the largest car and truck hauler in North America.
Mr. Klyman also has extensive litigation experience at trial and on appeal, including:
- Successfully serving as lead trial attorney in the hotly contested confirmation hearings of Leap Wireless and Allied Systems Holdings, Inc.
- Obtaining a total defense verdict in a trial seeking subordination and recharacterization of loans and damages for breach of fiduciary duty and successfully arguing the appeal of that verdict (In re Submicron Corporation, 432 F.3d 448 (3d Cir. 2006).
- Defending boards of directors against claims for breach of fiduciary duty.