Randall Klein

Practice Areas

Bankruptcy & Creditors’ Rights; Liability Management Transactions; Agreements Among Lenders and Intercreditor Agreements; Board Replacement Exercises

Career

Randy Klein is a Principal at Goldberg Kohn and Co-Chair of the firm’s Bankruptcy & Creditors’ Rights Group. He concentrates his practice on the protection and enforcement of creditors’ rights.

Randy is nationally recognized as a leader in his field, and for his experience in the drafting and enforcement of intercreditor agreements and unitranche agreements. He participated extensively in the drafting of the Loan Syndications and Trading Association's (LSTA) "Form of Agreement Among Lenders," published in 2019, and has been a frequent lecturer on the topic. He also served as Vice Chair of the ABA's Committee on Commercial Finance's Model Intercreditor Agreement Task Force, and was a contributing author of the Report and Model ABA Form Intercreditor Agreement. In 2012, he co-authored the First Report of the Commercial Finance Association to the ABI Commission to Study the Reform of Chapter 11.

At the invitation of his peers, Randy was named a Fellow in the American College of Bankruptcy. Also among his accolades, each year since 2020 he has been selected to the "Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers" list.

Randy joined Goldberg Kohn in September 1993.

Publications

Enforcement of the Board Flip – Delaware Bankruptcy Court Confirms Validity of Secured Lender’s Proxy Exercise,” a Goldberg Kohn Alert, April 18, 2023; “Lender Liability Management: Contractual Traps for Minority Lenders or Fraudulent Transfer Risk for the Majority?,” a Goldberg Kohn Alert, Nov. 14, 2022; “Lender Liability Management: Restoration of the Duty of Good Faith,” a Goldberg Kohn Alert, April 22, 2022; “Opposition to PEB Commentary No. [ ], Injunction Against a Noncomplying Disposition Under Section 9-610 of the Uniform Commercial Code,” The Secured Lender, Nov. 2021; “How the New UST Fee Schedule Is a Ticking Tax-Bomb for Middle Market Debtors,” The Bankruptcy Strategist, May 4, 2018; “ABI Bankruptcy Reform: Will It Destroy Cash Flow Lending,” The Bankruptcy Strategist, April 2015; “Majority Rules: Non-Cash Bids and the Reorganization Sale,” American Bankruptcy Law Journal, September 2010; “The Pre-Petition Right to Post-Petition Income Streams and the Misinterpretation of Section 552,” American Bankruptcy Institute Journal, December 2010.

Professional Memberships

Fellow of the American College of Bankruptcy; ABA Model Intercreditor Agreement Task Force, Vice Chair; American Bankruptcy Institute, Member; Turnaround Management Association, Member; American Bar Association, Member

Experience

Representation of Agent for senior secured lenders in connection with the American Commercial Lines Chapter 11 case; - Representation of Agent for senior secured lenders in connection with the out-of-court restructuring of loans to Corner Bakery; Representation of Agent for senior secured lenders in connection with the Chapter 11 case of Rubio’s Restaurants; Representation of Fun Eats & Drinks in connection with successful non-cash credit bid and litigation against minority lenders; Representation of LBC Credit Partners in connection with successful litigation against majority lender regarding a non-consensual “uptiering” transaction.

Education

Expert in these Jurisdictions

Illinois