Gregory Gennady Plotko

Gregory G. Plotko is a partner in the Corporate Department, specializing in Bankruptcy & Special Situations Investments. He advises and represents a diverse range of clients, including distressed investors, ad hoc creditor groups, creditors’ committees and major secured and unsecured creditors, as well as debtors, financial institutions and other parties, in complex and often high-profile Chapter 11 bankruptcy cases, out-of-court restructurings and other distressed situations. more +

Mr. Plotko advises hedge funds and other financial institutions on the rights and remedies of various debt holders and on understanding complex corporate and capital structures, including credit and indenture analysis.

On the creditor side, Mr. Plotko’s work includes negotiating and litigating Chapter 11 plans; negotiating and litigating cash collateral orders, debtor-in-possession/exit financing documents and equity commitment agreements; and developing, negotiating and implementing rights offerings. 

On the debtor side, Mr. Plotko assists companies in navigating the complex legal, financial and operational issues that arise in Chapter 11. His debtor experience includes negotiating and obtaining debtor-in-possession financing, forbearance agreements and support from trade vendors; negotiating and implementing sales of business segments and companies; negotiating and confirming Chapter 11 plans. 

• Representing buy-side and sell-side market participants in connection with the purchase and sale of insurance subrogation claims, make-whole claims and post-petition interest claims in the Pacific Gas & Electric (PG&E) bankruptcy proceeding.
• Representing MidCap Financial, a first lien lender in a Chapter 11 proceeding of an oil & gas services company and the eventual sale of collateral assets.
• Representing private equity funds in connection with the acquisition of distressed loans and providing DIP financing to distressed borrowers with the goal of acquiring the borrower in a Chapter 11 proceeding.

• Representing minority holders in syndicated loans with respect to challenges to 363 sale process, restructuring support agreements and rights offerings.
• Structuring litigation finance investments for various investment fund clients.
• Represented a group of investment/hedge funds that negotiated the $100 million debtor-in-possession financing facility and subsequent $130 million new money investment that supported the acquisition of certain assets of Patriot Coal Corp., a leading producer and marketer of coal in the eastern United States.
• Represented holders of more than $1 billion principal amount of certificates of participation in the final litigation and settlement of their rights against the city of Detroit and Financial Guaranty Insurance Corp. in connection with the valuation of unfunded pension liabilities and the ultimate treatment of the certificate holders under the confirmed plan.
• Advised several investment funds and issuers of mortgage-backed securities in connection with swap mediation and litigation issues, including valuation disputes in the Lehman Brothers bankruptcy case.
• Represented the official Committee of Unsecured Creditors of AES Eastern Energy LP, a subsidiary of The AES Corp., which owned six coal-fired electric generating plants located in New York state. Mr. Plotko also assisted in the investigation of AEE’s parent corporation in connection with certain dividends paid to them prior to the bankruptcy filing that led to a settlement agreement, providing creditors with an additional $47 million of cash consideration, a waiver of over $60 million in claims and an initial distribution to unsecured creditors within a year of the bankruptcy filing.
• Represented the Official Committee of Unsecured Creditors of Patriot Coal Corp, the third-largest bankruptcy of 2012. Patriot Coal Corp. was a leading producer and marketer of coal in the eastern United States, with 10 active mining complexes in Appalachia and the Illinois Basin and 1.8 billion tons of coal reserves. The committee was the principal advocate of unsecured creditors on all major facets of the case, an investigation of claims against Peabody Energy Corp. and Arch Coal Inc., related to retiree health care benefit liabilities exceeding $1.3 billion.
• Served as debtors counsel to Saint Vincent Catholic Medical Centers, the prominent health care system with operations throughout New York City and surrounding counties in a Chapter 11 case involving complex issues affecting the preservation and disposition of substantial assets (including the Manhattan real estate formerly used to operate its hospital), ongoing patient care, and a diverse group of creditors (including various classes of secured creditors, union, pension and medical malpractice creditors), resulting in a fully consensual Chapter 11 plan.

• Represented the Official Committee of Unsecured Creditors of General Motors, the largest automobile manufacturer in the United States and the second-largest in the world, in the fourth-largest bankruptcy case in history.
• Represented the Official Committee of Unsecured Creditors of Chrysler LLC, one of the most important and expedited Chapter 11 restructurings on record, and the seventh-largest bankruptcy in history.
• Represented and advised Omni New York LLC in its acquisition and subsequent rehabilitation of Noble Drew Ali Plaza, a low-income housing project located in the Brownsville section of Brooklyn, leading a team that negotiated with the Department of Housing and Urban Development, the city of New York and various creditor constituencies to successfully close the sale, which included over $50 million of public bond and loan proceeds.
• Represented the Official Employment Related Issues Committee of Enron Corp. as the lead associate on the litigation team that pursued the recovery of over $53 million in accelerated deferred compensation payments made to top Enron management on the eve of its bankruptcy filing.
• Served as debtors’ counsel to Abovenet Inc. (formerly Metromedia Fiber Networks) and its 14 affiliated debtors in their successful Chapter 11 case.

Legal Aid Society’s Outstanding Pro Bono Immigration Service Award (2005, 2006)

American Bankruptcy Institute