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Ranked in 1 Practice Areas
2

Band 2

Bankruptcy/Restructuring

Illinois

18 Years Ranked

About

Provided by Randall Klein

USA

Practice Areas

Bankruptcy & Creditors’ Rights

Career

Randy Klein is a Principal at Goldberg Kohn and Co-Chair of the firm’s Bankruptcy & Creditors’ Rights Group. He concentrates his practice in the protection and enforcement of creditors’ rights.

Mr. Klein is nationally recognized as a leader in his field, and for his experience in the drafting and enforcement of intercreditor agreements and unitranche agreements. He participated extensively in the drafting of the Loan Syndications and Trading Association's (LSTA) Form of Agreement Among Lenders, published in 2019, and has been a frequent lecturer on the topic. He also served as Vice Chair of the ABA's Committee on Commercial Finance, Section of Business Law's Model Intercreditor Agreement Task Force, and was a contributing author of the Report and Model Form.

At the invitation of his peers, Mr. Klein was named a Fellow in the American College of Bankruptcy. For nearly a decade, Chambers USA has named him a Leading Lawyer in the United States in Bankruptcy/Restructuring, and in 2020 and 2022 he was selected to the Lawdragon 500 Leading U.S. Bankruptcy and Restructuring Lawyers. He has also been named to the Illinois Super Lawyers list annually since 2006.

Publications

Mr. Klein has written extensively on creditors’ rights, including:

Co-Author, "Opposition to PEB Commentary No. [ ], Injunction Against a Noncomplying Disposition Under Section 9-610 of the Uniform Commercial Code," Secured Finance Network, Nov. 2021.

Co-Author, "ABI Bankruptcy Reform: Will It Destroy Cash Flow Lending," The Bankruptcy Strategist, April 2015.

Co-Author of the First Report of the Commercial Finance Association to the ABI Commission to Study the Reform of Chapter 11, Nov. 15, 2012.

Co-Author, “Majority Rules: Non-Cash Bids and the Reorganization Sale,” American Bankruptcy Law Journal, September 2010. (The article resulted from Mr. Klein's novel structuring and implementation of the acquisition of Ames Taping & Tooling by a subset of junior secured lenders for non-cash consideration, including debt and equity securities issued by the acquisition entity.)

Co-Author, “The Pre-Petition Right to Post-Petition Income Streams and the Misinterpretation of Section 552," American Bankruptcy Institute Journal, December 2010.

Co-Author, "Report of the Model First Lien/Second Lien Intercreditor Agreement Task Force," Committee on Commercial Finance, ABA Section of Business Law, July 2010.

His presentations have included:

"DIP Financing: What's New; What's Not; And What's Coming," 42nd Annual Southeastern Bankruptcy Law Institute Seminar, March 31, 2016.

"Creditors’ Committees: Why They Work; Why They Don't; Are They Obsolete?", 42nd Annual Southeastern Bankruptcy Law Institute Seminar, April 1, 2016.

"Unitranche and Bank Loans," The American College of Investment Counsel-Spring Investment Forum, April 30, 2015.

"An Analysis of the Final Report of the ABI Commission to Study the Reform of Chapter 11," a webinar for The Loan Syndications and Trading Association and Commercial Finance Association, Dec. 11, 2014.

"Discussion of the Bankruptcy Reform Commission’s Recommendations to Reform Chapter 11," Commercial Finance Association Annual Convention, 2014.

"Undersecured Creditor's Dilemma: Defining the Limits on Credit Bids and Lien Stripping," Fifth Annual American College of Bankruptcy Seventh Circuit Education Committee Seminar, Sept. 5, 2014.

"Structure War - ABL vs. Cash Flow vs. Unitranche," CFA's Asset-Based Capital Conference, Feb. 5, 2014.

"The New ABA Model Intercreditor Agreement," American Bar Association's Section of Business Law Commercial Finance Committee teleconference, March 25, 2010.

"Dealing with Intercreditor Issues in Today's Loan Markets – The Role of the ABA Model Intercreditor Agreement," Commercial Finance Association's 65th Annual Convention, Nov. 6, 2009.

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