Schulte Roth & Zabel announced that Ned S. Schodek has joined the firm as a partner in the Business Reorganization Group, based in the New York office.
Ned focuses his practice on representing creditors (with a focus on fund clients), ad hoc creditor groups, debtors, acquirers of assets, and other parties-in-interest in large and complex prepackaged, pre-negotiated and traditional Chapter 11 bankruptcies, out-of-court workouts, debtor-in-possession financings, adversary proceedings, and broker-dealer liquidations.
“I’m thrilled to join SRZ’s outstanding restructuring team, to help guide clients through what continues to be a very dynamic market,” said Schodek. “Between inflationary pressures, the prospect of higher interest rates, uncertainty regarding the pandemic’s impact on market demand, and global instability, the need has never been more acute for investment managers and other institutions to assess their risk profiles and for companies to consider opportunistic recapitalizations and access to liquidity.”
Ned also advises financial institutions in closing out and structuring new derivatives transactions with distressed entities. He is a former Co-Chair of the Courts and Legislation Subcommittee of the Committee on Bankruptcy and Corporate Reorganization of the New York City Bar Association.
“We are so excited Ned is joining us,” said Douglas Mintz, Partner and Co-Chair of SRZ’s Business Reorganization Group. “He's an awesome attorney and a great addition to our top-tier restructuring practice.”
“Ned joins a Business Reorganization group that has seen client demand for our services double since 2020. During that time, the group has worked on a number of high-profile restructurings, including Puerto Rico, American Achievement Corporation, Trimark, and PG&E, among many others, said Adam Harris, Partner and Co-Chair of SRZ’s Business Reorganization Group. “Our clients look to us for strategic guidance to manage their way through these highly complex restructurings and Ned adds specific experience that will help our clients achieve their desired results.”
“Ned’s background and expertise further strengthens our ability to advise clients in an unpredictable economy, particularly on the creditor side of the equation,” said Schulte Roth & Zabel co-managing partner Marc Elovitz. “SRZ has an industry-leading private funds practice. We look forward to Ned’s insights as we help our clients navigate growth opportunities and challenges alike,” Schulte Roth & Zabel co-managing partner David Efron continued.
Schulte Roth & Zabel continues to add substantial talent in strategic practice areas to address emerging client needs in both the public and private markets. Ned joins new partner Alexander Kim, who recently joined the Intellectual Property, Sourcing & Technology Group. Other strategic hires include Douglas S. Mintz in the Business Reorganization Group, Mike Flynn, Jeffrey Symons and Brian C. Miner in the M&A and Securities Group, Gayle Klein in the Litigation Group, and Gregory Ruback in the Finance and Derivatives Group.