Stephen E Gruendel

Bankruptcy & Financial Restructuring

Steve Gruendel represents banks and other creditors in connection with workouts and bankruptcies. A certified mediator, an 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 10 years.

Steve is co-head of the Bankruptcy & Financial Restructuring group. He represents banks and other creditors in workouts and bankruptcies. Certified as a Superior Court Mediator, Steve brings a practical, problem-solving approach to workouts - recognizing 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 bilateral and syndicated lending facilities and leases. With clients that are local, regional, and national in scope, his work is as likely to involve a restructure of a family-owned hog producer’s loan agreement as it is to involve a multi-national call-center’s broadly syndicated credit facilities. 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 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.