Gregory F. Pesce
Greg Pesce is a partner in the Firm's Financial Restructuring and Insolvency Practice and is based in the Chicago office. Greg focuses his practice on protecting and advancing the financial interests of corporate debtors and secured and unsecured creditors in the various transactional and litigation-related aspects of the debtor-creditor relationship. Greg was recently recognized in both the 2022 Global Restructuring Review (GRR) and American Bankruptcy Institute (ABI) 40 Under 40 awards.
Greg has played a principal role representing sophisticated corporate debtors, investors and other key parties in some of the most complex restructuring cases and transactions.
In addition to his company-side representations, Greg regularly counsels a number of private equity and investment fund clients, both in and out of court, with respect to acquisitions of distressed assets and investments and corporate governance matters related to such clients' portfolio companies.
Greg also has significant experience advising companies, creditors, equity holders and other stakeholders in cross-border restructuring transactions, including situations in Hong Kong, Singapore, Peru, Canada, Australia and the United Kingdom.
Representative Company-Side Experience
- PWM Property Management LLC ― Representing the owners of premier commercial office towers located at 245 Park Avenue in New York City and 181 West Madison Street in Chicago, Illinois in connection with their chapter 11 cases before the U.S. Bankruptcy Court for the District of Delaware; and in connection with a definitive agreement to sell PWM's interests in the commercial office tower located at 245 Park Avenue in New York City to an affiliate of SL Green Realty Corp.
- Bouchard Transportation Co. ― Representing the Chief Restructuring Officer and Restructuring Advisor to Bouchard Transportation Co., Inc. in connection with the chapter 11 cases of Bouchard Transportation Co., Inc. and its debtor affiliates and their rights to exculpation.
- Arena Energy, L.P. ― Represented Arena Energy, L.P., which filed a prepackaged Chapter 11 case in the U.S. Bankruptcy Court for the Southern District of Texas to pursue a sale of its assets as a going-concern. The sale — which is supported by Arena's first-lien revolving lenders and second-lien term lenders — will restructure more than $1 billion in funded indebtedness and address over $500 million of plugging and abandonment liabilities.*
- Whiting Petroleum Corporation ― Represented Whiting Petroleum Corporation and certain of its affiliates (collectively "Whiting") in connection with Whiting's prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Whiting is a Denver-based publicly traded independent exploration and production company with an oil focused asset base, employing approximately 500 employees and with funded debt of approximately $3.4 billion as of the Chapter 11 filing. Whiting entered into a restructuring support agreement with its unsecured noteholders, which contemplated a Chapter 11 plan that would provide 97% of the reorganized equity to noteholders and other holders of general unsecured claims, while still providing a recovery to existing equityholders in the form of the remaining 3% of reorganized equity. Through the deal reached with Whiting's lenders and noteholders, Whiting will delever its balance sheet by eliminating over $2.7 billion of funded debt.*
- Westmoreland Coal Company ― Representing Westmoreland Coal Company and certain of its affiliates (collectively, "Westmoreland") in their Chapter 11 proceedings before the U.S. Bankruptcy Court for the Southern District of Texas. Westmoreland is the sixth largest North American coal producer, maintaining domestic coal operations in Montana, Wyoming, North Dakota, Texas, New Mexico, and Ohio, and Canadian coal operations in Alberta and Saskatchewan, and is headquartered in Englewood, Colorado. At the time the cases were filed, Westmoreland had funded debt obligations of approximately $1.4 billion. Westmoreland is pursuing a sale of its mining operations and commenced its Chapter 11 cases with a restructuring support agreement entered into with a substantial majority of its key lender constituents.*
Representative Creditor, Equity Sponsor, and Other Stakeholder Experience
- Celsius Network LCC ― Representing the Official Committee of Unsecured Creditors in the Chapter 11 case of Celsius Network LLC in the United States Bankruptcy Court for the Southern District of New York, acting as the fiduciary for 1.7 million account users that used the Celsius platform before its bankruptcy filing.
- ION Geophysical Corporation ― Representing the Official Committee of Unsecured Creditors of ION Geophysical Corporation in the contested restructuring of over $138 million of funded debt.
- Seadrill Ltd. ― Represented Transocean Ltd. and certain other co-investors in connection with their efforts to sponsor an alternative plan of reorganization for Seadrill Ltd.
- China Fishery Group Ltd. ― Represented Monarch Capital and Davidson Kempner in connection with their innovative strategy to propose a creditor-backed plan of reorganization for China Fishery Group Ltd., which has over $1.1 billion in funded indebtedness.
- Castex Energy ― Represented Cross Ocean Partners, LP, as the largest secured lender to Castex Energy 2005 HoldCo LLC, in connection with Castex's chapter 11 petition filed on Feb. 26, 2021, in the Bankruptcy Court for the Southern District of Texas. Ultimately, Castex reached deals with all of its working interest holders, its creditors committee, and a non-debtor affiliate that provided services to the debtors.
* Matters prior to joining White & Case
Clerk & Government Experience
Judicial Intern, Honorable Ann C. Williams, United States Court of Appeals for the Seventh Circuit
PILI Fellow, The University of Chicago Mandel Legal Aid Clinic, Summer 2011
Panelist, "Crypto: How 2022 Will Affect The Future Of The Digital Currency Industry," 29th Annual Distressed Investing Conference, November 2022.
Panelist, "Liability Management Issues in COVID Chapter 11 DIP." 40th Annual Jay L. Westbrook Bankruptcy Conference, November 2021.
Speaker, "Modifying Labor and Retirement Obligations in Bankruptcy," 38th Annual Jay L. Westbrook Bankruptcy Conference, The University of Texas School of Law, Austin, TX, November 14–15, 2019.
Contributing Editor of the Norton Journal of Bankruptcy Law & Practice
The Irrelevance of Philadelphia Newspapers, ABI Bankruptcy Litigation Committee Review, May 2011
40 Under 40, American Bankruptcy Institute (ABI) (2022)
40 Under 40, Global Restructuring Review (GRR) (2022)
Member, Southern District of Texas Complex Chapter 11 Advisory Committee
Second Prize, Third Annual ABI Bankruptcy Law Student Writing Competition (2011)