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ProfessionalsMichael J. Colarossi

Michael J. Colarossi

Tel: +1-212-373-3315
Fax: +1-212-492-0315

New York

1285 Avenue of the Americas
New York, NY 10019-6064
Fax: +1-212-492-0315

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An associate in the Restructuring Department, Michael advises debtors, creditors and distressed investment funds in chapter 11 cases, out-of-court restructurings, cross-border insolvency matters and insolvency-sensitive transactions.


Michael’s recent matters include:

  • An ad hoc group of senior noteholders in the prepackaged chapter 11 cases of Oasis Petroleum, a Houston, Texas-based independent exploration and production company with a focus on unconventional crude oil and natural gas development
  • An ad hoc group of noteholders and preferred stockholders in an out-of-court recapitalization of Associated Materials, a North American manufacturer and distributor of exterior building products with over $800 million of debt
  • An ad hoc group of senior secured creditors of Oro Negro, a Mexican offshore drilling company, in a restructuring of over $900 million of secured debt obligations issued pursuant to Norwegian law-governed documents that involves contested concurso mercantil proceedings in Mexico, a related chapter 15 proceeding in the Southern District of New York, and litigation in Singapore and Norway
  • Chisholm Oil and Gas and Gastar Holdco as equity sponsors in the prearranged chapter 11 cases of Chisholm Oil and Gas Operating, a Tulsa, Oklahoma based oil and gas exploration and production company
  • An ad hoc group of creditors of California Resources Corporation, an independent, publicly traded oil and natural gas exploration and production company with the largest oil and natural gas production operations in California, in its chapter 11 cases
  • Foresight Energy, a leading producer of thermal coal based in the Illinois basin, in its prearranged chapter 11 case that reduced over $1 billion of its funded indebtedness
  • W Wind Down Co., the entity responsible for resolving approximately 4,000 claims in the Westinghouse Electric Company chapter 11 cases asserted in the aggregate amount of $100 billion
  • An indenture trustee and certain noteholders of Algeco Scotsman Global Finance plc in challenging a restructuring transaction proposed by the company and negotiating and closing an improved transaction pursuant to which Algeco’s sponsor TDR Capital agreed to purchase $125 million of notes held by the group as well as invest $250 million in Algeco on a go-forward basis
  • The Bon-Ton Stores, a national department store retailer, in its chapter 11 cases in Delaware, including the sale of substantially all of its assets under section 363 of the Bankruptcy Code
  • An ad hoc group of Puerto Rico general obligation bondholders in restructuring the $18 billion of Constitutional debt issued or guaranteed by the Commonwealth of Puerto Rico, including in the Title III cases commenced under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) to restructure the debts of the Commonwealth and certain of its instrumentalities and public corporations
  • An ad hoc group of first-, second- and third-lien lenders to global specialty metal distributor M. Castle & Co. and its affiliated debtors in connection with their prepackaged chapter 11 cases

Michael authored an article titled, “An Uncertain Future: The Questionable Extraterritoriality of the Bankruptcy Code’s Core Pre-Petition Avoidance Provisions,” published in the American Bankruptcy Institute Law Review.

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