Christopher T. Greco
Partner, Kirkland & Ellis
New York City Area
Bankruptcy & Restructuring, Bankruptcy Litigation
Bio
Chris Greco is a partner in the Restructuring Group of Kirkland & Ellis LLP. His practice involves representing debtors (including portfolio, privately-held and public companies), equity owners, creditors’ committees and distressed investors (including hedge funds and private equity funds) in acquisitions, out-of-court restructurings and Chapter 11 cases. Chris also advises boards of directors and senior management of financially troubled companies regarding fiduciary duties and corporate governance. Chris has a broad range of restructuring experience across a number of industries including gaming, television and radio broadcasting, airline, education, steel, oil & gas, retail, automotive, internet, entertainment and publishing. Chris has represented clients in multi-jurisdictional and cross-border matters. Some of Chris’s significant debtor representations have included Answers Holdings, Caesars Entertainment Operating Company, Cengage Learning, Conexant Systems, Essar Steel Algoma, Global Aviation, ION Media Networks, Kerzner International, Keystone Automotive, Muzak, Network Communications Inc., Revel, Ultra Petroleum Corp. and W.R. Grace. Chris has also advised creditors and distressed investors in various restructuring situations, including an ad hoc group of secured noteholders in the Chapter 11 cases of Terrestar Networks, a group of investors in acquiring ownership of Six Flags through its Chapter 11 cases and Hess Corporation as a 50% owner and DIP lender in connection with the sale of the Hovensa oil refinery in St. Croix, USVI. Chris is active in the Firm’s recruiting efforts in the New York office, serving as a Co-Chair of the Firm’s New York Summer Associate Program from 2014-2017, as a member of the Firm’s New York Recruiting Committee, the New York Summer Associate Program Committee and the New York Advisory Group on Technology. Chris has also been active in various teaching and pro bono activities, serving as an Adjunct Professor at Benjamin N. Cardozo School of Law and Wake Forest University School of Law where he has taught courses on Distressed Investing, and also performing substantial pro bono work for charities such as Youth, I.N.C. and Legacy of Hope Foundation.
Matters
  • Youth, I.N.C. : Representing Youth, I.N.C., a non-profit organization founded to improve the lives of youth through a unique venture philanthropy model that empowers, develops and educates non-profit organizations serving young people, in connection with a fundraiser and various charitable activities.
  • Sierra Leone Watershed Project Foundation : Representing Sierra Leone Watershed Project, a nonprofit 501(c)(3) organization whose goal is to bring reliable potable water sources and waste management infrastructure to Sierra Leone, with corporate advice, including a review of formation documents and IRS annual filing requirements, not involving third parties. Kirkland is also assisting the client with a review of tax implications and state-specific registration requirements related to jointly organizing an online auction with another nonprofit 501(c)(3) organization.
  • Legacy of Hope Foundation (“LOH”) : Representing Legacy of Hope Foundation, an organization operating for the benefit of three public charities, including the Nelson Mandela Childrens Fund USA Inc., in planning a global multi-media event in New York and Johannesburg, South Africa in December 2013 to raise money for the construction of a new children’s hospital in Johannesburg. Once constructed, the hospital will be only the fourth children’s hospital on the entire continent of Africa, which is home to 450 million children and has some of the highest infant mortality rates in the world. A cross-disciplinary team of Kirkland lawyers has assisted LOH with all aspects of planning and coordinating the event, including negotiating with performing artists, venues, sponsors and vendors and providing general corporate legal advice.
  • Future and Options : Served as a mentor to a high school student in a program sponsored by Futures and Options, a non-profit organization that empowers New York City underserved youth to explore careers and guides them to further their education and become productive citizens of the community.
  • FM World Charities, Inc. : Represented FM World Charities, Inc., a non-profit organization dedicated to promoting public health and improving the quality of life in underserved communities throughout the world.
  • Six Flags Entertainment Corporation : Represented the Board of Directors of Six Flags Entertainment Corporation as well as company counsel. Six Flags Entertainment Corporation, which emerged from bankruptcy in April 2010, is the largest operator of theme parks in North America with 19 parks across the United States. Representation included providing corporate and litigation advice on a range of matters including securities filings, NYSE listing application, insurance matters, executive compensation issues, fiduciary duties and arbitration issues.
  • Lavie Care : Represented Lavie Care Centers, a family of quality skilled nursing and rehabilitation centers located in 16 states across the United States, in connection with a potential sale of the company.
  • Knight Capital Group : Represented Knight Capital Group, Inc. as a board member and a shareholder of optionMONSTER, a provider of stock market insight, option trade ideas and options education to meet the needs of do-it-yourself investors.
  • Avis Budget Group : Represented Avis Budget Group in negotiating a settlement related to Avis’s prior purchase of substantially all of the assets of Budget Rent-A-Car.
  • FTE Automotive USA : Represented this developer and producer of drive train and brake system applications for the automotive industry in connection with litigation with certain plaintiffs and the Chrysler Liquidation Trust in the United States Bankruptcy Court for the Southern District of New York.
  • Simmons Bedding Company : Represented Thomas H. Lee Partners (THL) and certain of their affiliates in their capacity as equityholders, debtholders and members of the Board of Directors of Simmons Bedding Company in connection with Simmons’ Chapter 11 cases and prepackaged plan of reorganization.
  • Penton Business Media Holdings, Inc. : Represented MidOcean Partners, Wasserstein Partners, Apollo Investment Corporation and BlackRock Kelso Capital Corporation in connection with the prepackaged Chapter 11 cases of Penton Business Media Holdings, Inc. and certain of its affiliates.
  • Mark IV Industries, Inc. : Represented Sun Capital Partners, Inc. and certain of its affiliates, in their capacity as DIP lenders, first and second lien lenders and members of Mark IV’s Board of Directors, in connection with the Chapter 11 cases of Mark IV Industries, Inc. and certain of its affiliates.
  • Lyondell Chemical Company : Represented W.R. Grace in connection with the Chapter 11 cases of Lyondell Chemical Company and certain of its affiliates and pursuing W.R. Grace’s various claims against Lyondell and its affiliates, including section 503(b)(9) claims.
  • Delphi Corporation : Represented W.R. Grace and certain of its affiliates in connection with the reorganized debtors, DPH Holdings Corp., formerly known as Delphi Corporation. W.R. Grace was a defendant in an adversary proceeding seeking recovery of amounts allegedly paid to Delphi Corporation during the ninety-day preference period preceding Delphi’s Chapter 11 filing.
  • TitleMax, Inc. : Represented Fortress Credit Corporation and certain of its affiliates in their capacity as lenders in connection with TitleMax’s Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Georgia. TitleMax is one of the largest title lending companies in the United States with more than 500 stores in seven states.
  • TerreStar Networks, Inc. : Represented an ad hoc group of noteholders collectively holding more than one-third of the approximately $1 billion in outstanding senior secured notes of TerreStar Networks, Inc., a wholesale mobile voice and data service provider offering next generation mobile communications, in connection with a section 363 sale transaction, including DIP financing and a potential equity rights offering, all in connection with TerreStar’s Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York.
  • Starwood Capital Group : Represented Starwood Capital Group in connection with analysis and potential transactions involving distressed real estate.
  • Six Flags, Inc. : Represented H Partners Management LLC, a hedge fund managing more than $700 million in assets, in their capacity as one of the largest unsecured creditors of Six Flags, Inc. in connection with Six Flags, Inc.’s Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware.
  • L.A. Dodgers : Represented a confidential bidding group in a prospective purchase of the Los Angeles Dodgers baseball team through a Chapter 11 sale process supervised by the United States Bankruptcy Court for the District of Delaware.
  • Vista Equity Partners : Represented Vista Equity Partners in connection with its purchase of CDC Software in a court-supervised sale process in the United States Bankruptcy Court for the Northern District of Georgia. Vista acted as the “stalking-horse” purchaser in a sale conducted pursuant to Section 363 of the U.S. Bankruptcy Code and was approved by the Bankruptcy Court as the winning bidder in March 2012.
  • UMB Bank : Represented UMB Bank in its capacity as trustee in connection with the out-of-court restructuring of approximately $127 million in bonds issued by Thomas Jefferson School of Law, an ABA accredited law school located in San Diego, California, and secured by a state-of-the-art campus building, which has won several architectural and technical awards as well as U.S. Green Building Council LEED Gold certification. The restructuring, which was supported by nearly 90% of the bondholders, was effectuated out-of-court through a deed-in-lieu transaction, whereby the bondholders acquired the building via a newly-formed corporate entity, which then leased the building back to the school. This out-of-court transaction structure maximized bondholder recoveries, eliminated nearly $87 million in debt, and enabled the school to maintain eligibility for critical Department of Education Title IV student loan funding, which preserved value for stakeholders.
  • CSL Capital Management : Represented CSL in its acquisition of Allied Oil & Gas Services, LLC.
  • Cartesian Capital Group : Represented Cartesian Capital Group in connection with analysis and potential transactions involving distressed assets.
  • Hess Corporation : Represented Hess Corporation and its affiliate, Hess Oil Virgin Islands Corp. (“HOVIC”), in connection with the successful Chapter 11 liquidation and Section 363 sale of substantially all of the oil terminal and storage and refinery assets of HOVIC’s 50/50 joint venture, HOVENSA L.L.C., once the owner of one of the ten largest oil refineries in the world. HOVENSA’s complex liquidation addressed claims of over $1.8 billion, established an environmental response trust to address ongoing remediation, and involved several multilateral settlement agreements among Hess, HOVIC, HOVENSA, PDVSA-V.I. (the other 50/50 joint venture owner of HOVENSA), the Government of the Virgin Islands, which, in part, resolved claims asserted by the Government of the Virgin Islands against Hess for over $1.5 billion in alleged damages resulting from the operation of the HOVENSA refinery.
  • Jones & Frank : Represented this distributor, service provider and installer serving owners and operators of fuel systems in the United States in connection with its out of court restructuring of approximately $80 million in funded indebtedness.
  • Radio One : Represented Radio One, one of the nation’s largest radio broadcasting companies with 53 broadcast stations in 16 U.S. urban markets that primarily target African-American and urban consumers, in connection with its out-of-court restructuring that eliminated $296.2 million in aggregate principal amount of unsecured notes and amended the company’s senior secured credit facility.
  • NexCen Brands : Represented NexCen Brands in connection with an out-of-court restructuring. NexCen owns and manages brands covering quick service restaurants and retail footwear, including Great American Cookies, MaggieMoo’s Ice Cream and The Athlete’s Foot, and has approximately 1,700 franchised stores across its brands located in more than 35 countries worldwide.
  • HiT Entertainment PLC : Represented HiT Entertainment PLC in connection with an out-of-court amendment of the company’s secured indebtedness. HiT is the owner of popular children’s entertainment properties such as Bob the Builder, Barney, Thomas & Friends, Pingu, Fireman Sam and Angelina Ballerina and has corporate offices in New York and in London.
  • Blitz U.S.A. : Represented Blitz U.S.A. and certain of its affiliates in preparation for its restructuring under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Blitz was the largest manufacturer of portable fuel containers in the United States, with more than 150 million units in circulation and approximately 70% of the market share in the United States.
  • Network Communications, Inc. (NCI) : Represented Network Communications, Inc. (NCI), a leading local media company providing lead generation, advertising and Internet marketing services to the housing industry with leading brands such as Apartment Finder, The Real Estate Book, DigitalSherpa, Unique Homes, New England Home and Atlanta Homes & Lifestyles in more than 500 local markets around the United States, in connection with an out-of-court restructuring of approximately $300 million in outstanding indebtedness. With the help of a multi-disciplinary Kirkland team (including restructuring, debt finance, tax, securities and executive compensation lawyers), NCI successfully completed an out-of-court restructuring that reduced NCI’s total debt from $300 million to $115 million ― with unanimous support from each of NCI’s major stakeholders ― through a simultaneous securities exchange offer and prepackaged plan solicitation.
  • Keystone Automotive Operations, Inc. : Represented Keystone Automotive Operations, Inc., a wholesale distributor and retailer of aftermarket automotive accessories and equipment with operations throughout the United States and Canada, in connection with a restructuring of its outstanding indebtedness. Keystone successfully completed an out-of-court restructuring that reduced its debt from approximately $429 million to $142 million through a simultaneous securities exchange offer, rights offering and prepackaged plan of reorganization, which included the negotiation of new secured revolver and term loan credit facilities as well as a $60 million equity commitment to backstop the rights offering. Keystone’s restructuring was recently recognized as the 2011 Retail Manufacturing/Distribution Deal of the Year (over $50 million) by The M&A Advisor in connection with its 6th Annual Turnaround Awards.
  • Kerzner International Holdings Limited : Represented this leading international developer and operator of destination resorts, casinos and luxury hotels in connection with its successful out-of-court restructuring of more than $3 billion of indebtedness. The multi-part reorganization, which recently was recognized as the Large Restructuring Deal of the Year at the 7th Annual M&A Advisor Turnaround Awards, included the restructuring of more than $2.5 billion of indebtedness in a commercial mortgage backed security structure. As part of its restructuring, Kerzner completed a transaction with the lenders to its Bahamian assets that involved the exchange of approximately $175 million in debt obligations by Brookfield Asset Management in return for Kerzner’s equity in the Bahamian companies and an agreement for Kerzner to continue to manage Atlantis, Paradise Island and One&Only Ocean Club. In addition, Kerzner restructured its corporate operating company debt facility. As part of the operating company restructuring, Kerzner completed a transaction to sell its 50% ownership interest Atlantis, The Palm in Dubai for $250 million, with the proceeds being used to reduce Kerzner’s operating company indebtedness. Kerzner also entered into an agreement to continue to manage Atlantis, The Palm pursuant to a multi-year management agreement.
  • Things Remembered, Inc. : Represented Things Remembered in connection with an out-of-court restructuring of its approximately $150 million of funded indebtedness. Things Remembered is a leading retailer of personalized merchandise and experiences headquartered in Cleveland, Ohio, with more than 500 stores across the United States and Canada. As part of the restructuring, existing lenders acquired all of the equity in Things Remembered, significantly reducing the company's outstanding indebtedness, and providing the company with additional liquidity in the form of an asset-based loan to support future growth.
  • W.R. Grace & Co. : Represented W.R. Grace & Co. and its affiliates in connection with their Chapter 11 cases, in which they used section 524(g) of the Bankruptcy Code to address significant asbestos-related liabilities. Grace is a premier specialty chemicals and materials company that operates on a global basis.
  • Tropicana Entertainment, LLC : Represented Tropicana Entertainment, LLC, one of the largest privately-owned casino operations in the United States, in connection with its Chapter 11 cases. Tropicana and its non-debtor affiliates operates 11 casinos in five states with approximately 540,000 square feet of gaming space and more than 8,300 hotel rooms, and employ more than 11,000 individuals.
  • Muzak LLC : Represented Muzak LLC and 14 of its affiliates in their Chapter 11 cases that resulted in the successful restructuring of approximately $500 million in indebtedness, including secured bank debt and senior and subordinated public bond debt. A leading provider of business music since 1934, Muzak creates sensory experiences that reach more than 100 million people daily. Muzak creates an endless variety of music programming from a catalog of over 2.6 million songs and produces targeted custom in-store and on-hold messaging for over 500,000 client locations. Muzak’s restructuring was recognized as the 2010 Entertainment and Media Restructuring of the year by the Distressed M&A Deal Forum and Turnaround Atlas Awards.
  • ION Media Networks, Inc. : Represented ION Media Networks, Inc. and 116 of its affiliates, the owner and operator of the nation’s largest broadcast television station group and ION Television, which reaches over 96 million U.S. television households via its nationwide broadcast television, cable and satellite distribution systems, in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York. In just over six months, ION’s successful restructuring resulted in the elimination of all prepetition legacy indebtedness totaling approximately $2.7 billion and ION’s emergence from Chapter 11 with $150 million in equity financing.
  • Global Aviation Holdings Inc. : Represented Global Aviation Holdings Inc. and its domestic affiliates in all aspects of its complex Chapter 11 reorganization proceedings before the United States Bankruptcy Court for the Eastern District of New York. Global Aviation, through its subsidiaries World Airways and North American Airlines, was the largest commercial provider of airlift transport services for the U.S. military. Global Aviation also provided commercial cargo and passenger charter services, most notably for the presidential campaigns of President George W. Bush, Secretary of State Hillary Clinton and President Barack Obama. Kirkland assisted Global Aviation in deleveraging its balance sheet with more than $350 million in debt, optimizing and rationalizing its aircraft fleet of approximately 30 airplanes and renegotiating competitive labor contracts with its unionized employees.
  • Conexant Systems, Inc. : Represented Conexant Systems, the fabless semiconductor company with a portfolio of innovative semiconductor solutions included in products for imaging, audio, embedded modem and video surveillance applications, in its successful and fully consensual Chapter 11 case in the United States Bankruptcy Court for the District of Delaware that was completed in just 96 days. Through its Chapter 11 plan, $194 million of secured debt was converted into equity and new unsecured, non-recourse notes issued by a newly formed holding company. An agreement was reached with the official committee of unsecured creditors regarding the treatment of unsecured claims, including rejection damage claims for various vacant leasehold properties. Kirkland's work for Conexant was recognized as the Restructuring Deal of the Year (Over $100mm) at the 12th Annual M&A Advisor Awards.
  • Revel AC, Inc. : Represented Revel AC, Inc. and certain of its affiliates (“Revel”) in all aspects of its prepackaged Chapter 11 reorganization proceedings before the United States Bankruptcy Court for the District of New Jersey. Kirkland assisted Revel in deleveraging its balance sheet by 82 percent, by converting approximately $1.2 billion of debt into equity, pursuant to a prepackaged plan of reorganization supported by a majority of Revel’s lenders. Kirkland also assisted Revel in obtaining $250 million in debtor-in-possession financing, and securing approximately $360 million in exit financing.
  • Cengage Learning, Inc. : Represented Cengage Learning, Inc., a leading educational content, software and services company for the academic, professional and library markets worldwide, in its Chapter 11 restructuring. With annual revenues of approximately $2 billion, the company had approximately 5,200 employees with operations in more than 20 countries worldwide. Cengage restructured its balance sheet and significantly reduced its approximately $5.8 billion of outstanding debt to better position itself for long-term growth and profitability.
  • Essar Steel Algoma Inc. : Represented Essar Steel Algoma Inc., a leading North American steel manufacturer located in Sault Ste. Marie, Canada, in its restructuring efforts involving approximately $1.2 billion of funded debt. Essar Steel Algoma has more than 3,000 employees and is affiliated with the conglomerate of companies owned by the multi-billion dollar investment fund, Essar Group Fund Limited, which is based in Mumbai, India. Essar Steel Algoma restructured its funded debt obligations by obtaining approval of a plan of arrangement under the Canada Business Corporations Act (CBCA) in Toronto, Canada along with recognition of the CBCA proceeding under Chapter 15 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Kirkland’s work for Essar Steel Algoma was recognized as Cross Border Turnaround of the Year and Corporate Turnaround Team of the Year by the Global M&A Network at the 7th Annual Turnaround Atlas Awards.
  • Caesars Entertainment Operating Co. Inc. : Represented Caesars Entertainment Operating Co. Inc. ("CEOC") in its Chapter 11 restructuring. CEOC, a majority owned subsidiary of Caesars Entertainment Corporation, provides casino entertainment services and owns, operates or manages 44 gaming and resort properties in 13 states of the United States and in five countries primarily under the Caesars, Harrah's and Horseshoe brand names. CEOC and its debtor subsidiaries had more than $18.4 billion in funded debt obligations as of the commencement of their Chapter 11 cases.
  • Answers Holdings, Inc. : Represented Answers Holdings, Inc. and certain of its subsidiaries in their prepackaged Chapter 11 cases. Answers is a leading global provider of high quality internet content and cloud-based customer solutions, and operates as three principal business divisions: Multiply; ForeSee; and Webcollage. The Chapter 11 cases de-levered the company by $471.4 million, representing over 86% of its prepetition funded debt obligations. As a result of forging consensus with approximately 90% of its creditors prior to the Chapter 11 cases, Answers’ prepackaged Chapter 11 plan received unanimous support from its voting creditors and was confirmed by the Bankruptcy Court in only 32 days.
  • Ultra Petroleum Corp. : Representing Ultra Petroleum Corp. (“Ultra”)—a publicly-traded, independent oil and natural gas exploration and production company—in its Chapter 11 restructuring in the United States Bankruptcy Court for the Southern District of Texas. Ultra has historically been one of the lowest-cost operators in the domestic oil and gas industry and has its principal assets in the Pinedale Field in Wyoming. In March 2017, Ultra confirmed a Chapter 11 plan of reorganization that valued the enterprise at $6 billion (with nearly $4 billion in equity value), and included $2.4 billion in debt financing raised in the capital markets and $580 million raised via an equity rights offering.
Clients
Answers Holdings Apollo Investment Corporation Avis Budget Group BlackRock Kelso Capital Corporation Blitz U.S.A. Caesars Entertainment Operating Company, Inc. Cengage Learning, Inc. Conexant Systems CSL CSL Capital Management Essar Steel Algoma Essar Steel Algoma Inc. Fortress Credit Corp. FTE Automotive USA Future and Options Futures and Options Global Aviation Global Aviation Holdings Inc. H Partners Management LLC Hess Corporation Hess Oil Virgin Islands Corp. HiT Entertainment PLC ION Media Networks ION Television Jones & Frank Kerzner International Kerzner International Holdings Limited Keystone Automotive Keystone Automotive Operations, Inc. Knight Capital Group Lavie Care Centers Legacy of Hope Foundation MidOcean Partners Muzak Muzak LLC Network Communications Inc. Network Communications, Inc. NexCen Brands Radio One Revel AC Sierra Leone Watershed Project Starwood Capital Group Sun Capital Partners TerreStar Networks Things Remembered, Inc. THL Thomas H. Lee Partners, L.P. Tropicana Entertainment Ultra Petroleum Corp. UMB Bank Vista Equity Partners W.R. Grace & Co. Wasserstein Partners
Schools
2007
Wake Forest School of Law
J.D. Order of the Coif; cum laude
Class Executive Editor, Wake Forest Law Review
Member, Wake Forest Moot Court Board
2004
Villanova University
B.S. cum laude
Bar Admissions

2007, New Jersey (inactive), 2008, New York