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ProfessionalsJacob A. Adlerstein

Jacob A. Adlerstein

Tel: +1-212-373-3142
Fax: +1-212-492-0142

New York

1285 Avenue of the Americas
New York, NY 10019-6064
Fax: +1-212-492-0142

Bar Admissions 
Bar Admissions 

A partner in the Restructuring Department, Jake has broad experience advising a variety of clients in bankruptcy cases and corporate restructurings, including debtors, official and ad hoc creditor committees and distressed investment funds. Jake’s company-side representations include Hexion, Cumulus Media, Pinnacle Agriculture Holdings and AbitibiBowater, and recent creditor-side matters include the restructurings of PDVSA, EP Energy, Bellatrix Exploration, Texas Competitive Electric Holdings Company, Pacific Exploration, Dynegy and Aspect Software.

Awards and Recognitions

Jake has been recognized by The Legal 500 as a recommended bankruptcy and restructuring lawyer and regularly participates on panels sponsored by industry organizations, including Practising Law Institute.


  • An ad hoc group of 2020 secured PDVSA noteholders in a potential restructuring of the senior secured notes issued by Petroleos de Venezuela, S.A., an oil and gas company that is wholly owned by the government of Venezuela;
  • Apollo Global Management as a secured noteholder and plan sponsor in the chapter 11 cases of Houston-based oil-and-gas exploration and production company EP Energy Corporation;
  • An ad hoc group of unsecured noteholders of Canadian oil and gas producer Bellatrix Exploration in prearranged restructuring transactions pursuant to a corporate plan of arrangement under the Canada Business Corporations Act;
  • The ad hoc committee of certain first lien senior secured creditors of Texas Competitive Electric Holdings Company LLC in the company’s chapter 11 case involving approximately $32 billion of secured and unsecured debt;
  • U.S. counsel to the ad hoc committee of senior noteholders of Pacific Exploration and Production in connection with a cross-border restructuring of the company’s approximately $5 billion of debt obligations through proceedings commenced in Canada, the United States and Colombia;
  • An ad hoc group of term loan lenders in connection with the prearranged chapter 11 restructuring of American Tire Distributors, the largest replacement tire distributor in North America. The company’s plan provided for the restructuring of over $2 billion of debt, including the extension and modification of its term loan facility and equitization of its senior subordinated notes;
  • An ad hoc group of unsecured debtholders of Concordia Healthcare in connection with a possible restructuring of the company and its affiliates;
  • An ad hoc group of first lien noteholders of Egalet Corporation, a specialty pharmaceutical company, in Egalet’s prearranged chapter 11 cases;
  • An ad hoc committee of certain unsecured noteholders of Sequa Corporation, in connection with the company’s out-of-court recapitalization and exchange offer transactions;
  • An ad hoc group of first-, second- and third-lien lenders to global specialty metal distributor A.M. Castle & Co. and its affiliated debtors in connection with their prepackaged chapter 11 cases;
  • An ad hoc committee of certain first lien lenders of Aspect Software, as well as lenders under the company’s postpetition term loan facility, in connection with the company’s restructuring through a prearranged chapter 11 case;
  • The ad hoc committee of noteholders of Dynegy Holdings in connection with the company’s bankruptcy cases and prearranged restructuring of $3.6 billion of unsecured claims;
  • The senior secured lenders to Australian-based Nine Entertainment Group in the restructuring of more than AU$2 billion of debt by means of a scheme of arrangement under which the lenders became the principal equity holders of the reorganized company;
  • The ad hoc committee of senior secured noteholders of Savient Pharmaceuticals, Inc., a specialty biopharmaceutical company, in the company’s prearranged chapter 11 case; and
  • Citigroup as the secured creditor in the chapter 11 case of Howrey LLP, an AmLaw 100 law firm.


  • Hexion Inc., the world’s leading producer of thermosetting resins, and a leading producer of adhesive and structural resins and coatings, as special financing and securities counsel in the company’s chapter 11 case;
  • Cumulus Media Inc., the nation's second largest radio company with 446 stations spread across 90 markets, and certain of its affiliates in its chapter 11 cases;
  • Pinnacle Agriculture Holdings, LLC in connection with its out-of-court recapitalization and exchange offer transactions;
  • Samsonite Corporation, manufacturer of luggage and travel bags, in its worldwide out-of-court restructuring. In connection with the representation, we also represented Samsonite Company Stores in its successful prepackaged chapter 11 case; and
  • AbitibiBowater (now known as Resolute Forest Products) in its complex cross-border cases in the U.S. and Canada involving the restructuring of more than $8 billion of prepetition indebtedness and raising $1.5 billion in exit financing.


  • The equity sponsors of software company Sungard Availability Services in its prepackaged chapter 11 case, approved by the United States Bankruptcy Court for the Southern District of New York less than 24 hours after the company filed for chapter 11 protection, setting the record for the fastest chapter 11 case ever;
  • American Industrial Partners, a New York-based private equity firm, in its acquisition of majority ownership of The Brock Group, a Texas-based provider of mission critical services to the refining, petrochemical, power generation and other industries, through an out-of-court exchange offer and recapitalization transaction, including the infusion of new debt and equity capital; and
  • Centerbridge Partners, L.P. and Oaktree Capital Management, L.P. in connection with a term loan and stock purchase to recapitalize Billabong International Limited, a public corporation organized in Australia that specializes in the sale of apparel and accessories related to skateboarding and surfing.

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