Arik Preis focuses his practice on corporate restructurings and bankruptcy.
Practice & Background
Mr. Preis represents informal and official committees of creditors, debtors, individual creditors, rights offering backstoppers, and lenders in both in-court and out-of-court restructurings. Mr. Preis has also represented lenders and administrative agents in connection with non-restructuring-related loans, including leveraged loan transactions, mezzanine financings and more traditional loans. In addition, he has represented creditors in the analysis of all types of debt documents and capital structures.
Prior to joining Akin Gump, Mr. Preis was associated with a large New York-based law firm from 2001-2007 and the New York office of a large Texas-based law firm from 2007-2009. Mr. Preis received his B.A. with honors in 1997 from Wesleyan University, where he was elected to Phi Beta Kappa, and his J.D. in 2000 from the University of Virginia School of Law.
Mr. Preis’ representative engagements include:
- the official committee of unsecured creditors of Chassix Inc.
- the official committee of unsecured creditors of Edison Mission Energy
- the official committee of unsecured creditors of Dynegy Holdings, LLC and its affiliated debtors
- the official committee of unsecured creditors of Conseco, Inc.
- the official committee of unsecured creditors of NTL, Inc.
- the official committee of unsecured creditors of New World Pasta, Inc.
- the official committee of unsecured creditors of UPC Polska, Inc.
- TerreStar Networks, Inc. and TerreStar Corporation, as chapter 11 debtors
- AAI Pharma, as chapter 11 debtor
- American Media, as chapter 11 debtor
- the largest creditor (and rights offering backstopper) of Lyondell Chemical Corp.
- an ad hoc group of group of second lien lenders, right and offering backstoppers, and DIP financing lenders for SunEdison, Inc.
- an ad hoc group of first lien lenders for True Religion Apparel, Inc.
- an ad hoc group of first lien lenders for Payless ShoeSource, Inc.
- an ad hoc crossover group of lenders for Total Safety, Inc.
- the winning bidder for the assets of Aerogroup, Inc. (Aerosoles Shoes)
- a secured creditor of Wynit, Inc.
- an ad hoc group of first lien lenders and DIP financing backstoppers for Longview Power
- an ad hoc group of backstoppers for Cooper-Standard Automotive Holdings, Inc.
- an ad hoc group of noteholders of Hercules Offshore Inc.
- an ad hoc group of noteholders and DIP financing lenders for Magnum Hunter Resources, Inc.
- an ad hoc group of noteholders and DIP financing lenders for Global Geophysical
- an ad hoc group of noteholders for Visteon Corporation
- the debtor-in-possession lenders to NTL, Inc.
- one of the debtor-in-possession lenders to Spectrum Brands, Inc.
- the exit financing lender to Advanced Glass Fiber Yarns, Inc.
- the agent for the exit financing term lenders to Tembec, Inc.
- a group of the second lien exit financing lenders to Dura, Inc.
- a group of the second lien exit financing lenders to Home Products International, Inc.
- the pre-petition first lien agent and largest secured creditor of Pipeline.Com, Inc.
Mr. Preis is a:
- member of the New York City Bar Committee on Bankruptcy & Corporate Reorganization (2013-2015)
- member of the UJA-Federation of New York’s Lawyers Division, Bankruptcy and Reorganization Group (Next Generation).
Awards & Accolades
- “Rising Star – Top Bankruptcy Lawyers in 2015” by Law360, March 31, 2015
- “Outstanding Young Restructuring Lawyers – 2013” by Turnaround & Workouts magazine, April 22, 2013
- “Chambers USA: America’s Leading Lawyers for Business”, 2016-2017.
- Participated in a panel titled Distressed M&A Transactions at Akin Gump’s Deal Makers Boot Camp on November 5, 2014 in New York
- Moderated a panel titled Determining Privilege in Insolvency & Restructuring Matters on October 16, 2013
- Participated in a panel titled Energy and Project Finance Fallout at Akin Gump’s Current Issues in Energy Company Restructurings Symposium on May 29, 2013 in New York
- Participated in a panel titled Advising Distressed Businesses & Business Bankruptcy Cases on December 13, 2012
- Participated in a panel titled Restructuring Case Study: TerreStar Networks at the 7th Annual Distressed Investing and Restructuring Conference on April 13, 2012 in Chicago, Illinois
- Participated as guest lecturer at St. John’s University’s LLM program for new developments in bankruptcy.