Randall L. Klein

• Vice Chair, ABA Model Intercreditor Agreement Task Force
• Fellow of the American College of Bankruptcy
• American Bankruptcy Institute, Member
• Turnaround Management Association, Member
• American Bar Association, Member
• Chicago Bar Association, Bankruptcy & Reorganization Committee, Member
• Commercial Finance Association Education Foundation Advisory Board, Member

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,” The Secured Lender, 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.

Mr. Klein’s 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 Secured Finance Network, Dec. 11, 2014.
• “Discussion of the Bankruptcy Reform Commission’s Recommendations to Reform Chapter 11,” Secured Finance Network 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,” the Secured Finance Network’s Asset-Based Capital Conference, Feb. 5, 2014.
• “The New ABA Model Intercreditor Agreement,” American Bar Association’s Section of Business Law’s Commercial Finance Committee teleconference, March 25, 2010.
• “Dealing with Intercreditor Issues in Today’s Loan Markets – The Role of the ABA Model Intercreditor Agreement,” the Secured Finance Network’s 65th Annual Convention, Nov. 6, 2009.

Goldberg Kohn’s creditors’ rights practice is a recognized leader in the middle-market, serving banks, finance companies, hedge funds and alternative lenders.

The Group’s client list surpasses that of many large firms that compete in this space. The Bankruptcy and Creditors’ Rights Group punches above its weight by dedicating itself to the creditor-side of the practice; our restructuring professionals do not try to squeeze into all types of insolvency roles.  After decades of this focus, the Group is able to anticipate problems and know in advance how to bring about the best possible creditor outcomes.  As a result, the Group has developed broad and deep relationships throughout the middle-market lending industry.

This success is also made possible by the firm’s top-tier Commercial Finance and Real Estate groups, who work closely with our Bankruptcy and Creditors’ Rights Group in workouts and distressed transactions. These collaborations create deal teams that are second-to-none in relevant depth for these situations, providing cradle-to-grave-to-cradle services, including debt-for-equity transactions happening by design (loan-to-own) or by default.

Whether or not the firm originally documented a deal, agents, lenders and other participants seek the Group’s result-driven and efficient approach to troubled credits. Goldberg Kohn’s bankruptcy lawyers are intimately familiar with the nuances of loan documents, credit policies, market trends, and the politics of syndicated situations. Inter- and intra- class lender negotiations and disputes are a particular specialty.  In this regard, the Group is helping lead development of unitranche lending and shaping the market for agreements among lenders. Because our bankruptcy professionals are so steeped in creditors’ rights issues, they are able to identify and execute strategies with the speed our clients’ distressed deals require.

Since our founding in 1976, Goldberg Kohn has come to be one of the best known and most respected mid-sized firms in Chicago. Every day, we earn and reaffirm our reputation for skill and integrity by competing with the largest and best-known firms in courtrooms and conference rooms around the world. We don’t take our top legal talent, first class clients, and outstanding results for granted. We constantly look ahead to the next challenge, to finding opportunities for our current clients, and developing new relationships.

Goldberg Kohn is proud to be associated with some of the most respected organizations in the legal industry, such as the Commercial Finance Association, Turnaround Management Association, and the Litigation Counsel of America. In addition, the firm has been recognized by leading legal publications including Chambers and Partners, American Lawyer, U.S. News’ Best Law Firms, and M&A Advisor. We counsel clients ranging from private to Fortune 50 companies and have built a reputation for great work, for being great to work with, and great to work for.

Since becoming a member of Meritas in 1992, we have been one of the most active firms in the network, both in terms of utilizing member firms to assist us in our increasingly national and international practice and in participation in section activities and at the Board of Directors level.