Recognized in Best Lawyers since 2009 
Steve Gruendel represents banks and other creditors in connection with workouts and bankruptcies. A certified mediator, a former entrepreneur and a workout lawyer, Steve brings a practical, solution-seeking approach to complex legal situations. He’s been recognized in Chambers Partners USA as a go-to workout lawyer for the past 14 years.
Steve is co-head of the Bankruptcy & Financial Restructuring group. He represents banks and other creditors in workouts and bankruptcies. Also certified as a mediator, Steve brings a practical, problem-solving approach to workouts and recognizes that in most situations a practical and cooperative solution is better for his creditor clients than a collection action or a liquidation.
Steve’s practice encompasses both syndicated credit facilities and bilateral loans and leases. With clients that are national, regional and local, his work is as likely to involve a restructure of a publicly traded defense contractor’s syndicated credit facility as it is the cooperative liquidation or winddown of a regional hog producer or franchisee’s restaurant chain. Workout matters regularly involve forbearance agreements, amendments, wind-downs and debt restructuring agreements. Chapter 11 matters regularly involve debtor-in-possession financings and cash collateral use, section 363 sales and negotiated and/or contested reorganization plans. Steve’s workout matters also often involve intercreditor issues with third parties, including payment subordination, lien subordination, and surety-related rights and he frequently advises clients about how to structure loans that involve particularly thorny or complex issues.
In his free time, he coaches a high school mock trial team at Covenant Day School in Matthews, NC.
