AREA OF PRACTICE
Finance
Steve Levine regularly represents official and unofficial creditors’ committees, senior and junior lenders, hedge funds, asset purchasers and other constituencies in restructuring matters and the documentation, structuring and recovery of complex financial transactions. With more than 30 years of experience in the bankruptcy and finance area, he has developed particular skill in debtor-in-possession financings, cash collateral and stay litigation, the analysis of avoidance and other causes of action and the negotiation, documentation and implementation of plans of reorganization. He is also frequently called upon by Brown Rudnick litigators to analyze potential disputes involving provisions of indentures, credit agreements and other types of complex financial instruments.
Steve has significant experience in asset based and specialty lending (particularly to retailers), high yield bond issuances, securitizations and representing consortiums of first and second lien and high-yield noteholders in out-of-court restructurings and debt-for-equity and debt-for-debt exchange offers.
Steve has been selected by his peers for inclusion in The Best Lawyers in America© in the fields of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Bankruptcy Litigation, and frequently speaks and writes on finance and reorganization topics.
For more than 20 years, he has co-taught a course on Securitization and Structured Finance at Boston University Law School.
Steve is a long-standing supporter of the Firm’s pro bono activities. In 2013 Steve was the recipient of the Fraser Award for Pro Bono Excellence presented by Volunteer Lawyers for the Arts.
Awards





Representation
Represented a joint venture between two hedge funds and a pharmaceutical company in it’s successful purchase of substantially all of the assets of Orexigen Therapeutics, Inc., which distributed a weight loss drug in a Section 363 sale and in structuring the joint venture to manage and operate the resulting business
Counsel to the Official Committee of Unsecured Creditors in EXCO Resources, Inc
Primarily responsible for documentation and structuring of plan of reorganization for Performance Sports Group, Inc. on behalf of Official Equity Committee (Winner of the 2018 Turnaround Management Large Transaction Award)
Special litigation counsel to SunEdison, Inc. for purposes of evaluating potential avoidance actions and other causes of action concerning its Yieldcos
Lead counsel to the Ad Hoc Bondholder Group of Colt Holdings Company in connection with it’s successful advancement of a hostile DIP Financing proposal and subsequent negotiation and documentation of a plan of reorganization where it’s member provided $50 million in exit financing through a stapled rights offering
Counsel to Ad Hoc Group of Senior Secured Lenders in connection with the pre-arranged bankruptcy plan of Millennium Lab Holdings
Lead counsel to the Official Committee of Unsecured Creditors in Six Flags, Inc. in successful enterprise valuation litigation leading to confirmation of an alternative plan
Lead US counsel to several institutions which hold Lehman Brothers Treasury Company B.V. notes, which are guaranteed by Lehman Brothers Holdings Inc., in connection with the resolution of their complex note claims and treatment under reorganization plans in the Lehman US and Dutch insolvency proceedings
Led finance team on Hologic, Inc.’s $2.8 billion senior secured credit facilities and $1 billion high yield note issuance related to its merger with Gen-Probe Inc
As counsel to Second Lien Trustee in Synagro Technologies, Inc., negotiated a Chapter 11 plan involving a sale of the stock in the company that yielded significant value for second lien noteholders. The Synagro restructuring was a recipient of the “Distressed M&A Deal of the Year (Over $100mm to $1 Billion) Award” at the 2014 M&A 8th Annual Turnaround Awards
Developed the legal theories used by several funds which held participation interests in the Atlantis Casino to obtain an injunction from the Delaware Chancery Court blocking implementation of a debt-for-equity exchange and then re-negotiate more favorable terms for such exchange
As counsel to a group of convertible noteholders of Central European Distribution Corporation, structured and documented high yield notes issued by a Russian entity secured by stock in a US subsidiary, issued pursuant to a plan of reorganization
Part of Brown Rudnick team representing the Official Creditors’ Committee of Lyondell-Basel, Inc. particularly in connection with an $8 billion debtor-in-possession financing
As counsel to the Official Creditors’ Committee in Green Field Energy Services, Inc., formulated and developed causes of action which were adopted by the Examiner
Lead counsel to Stanley/Black & Decker on several accounts receivable securitizations
As counsel to Trustee and ad hoc committee of First Lien Noteholders in pre-petition Delaware Chancery Court action and subsequent Chapter 11 proceedings of Calpine Corporation, coordinated litigation regarding company’s misuse of collateral sale proceeds and make-whole premium dispute
Lead counsel to senior secured lenders in connection with bankruptcy proceedings, including those of, among others, The Walking Company, GI Joes, Inc., Shoe Pavilion, Museum Company, Weathervane, People’s Pottery and San Francisco Music Box and to Wilmington Trust Company, as Second Lien Trustee in Brookstone
Lead counsel to an ad hoc committee of second lien lenders in the out-of-court restructuring of Environmental Systems Products Holdings, Inc., resulting in their acquisition of 100% equity interest through a debt-for-equity exchange and provision of new first and second lien credit facilities
Lead counsel to an ad hoc committee of convertible noteholders of Sirius/XM Satellite Radio in enforcing their rights in connection with a change of control challenge to the XM / Sirius merger and follow-up debt-for-debt exchange offers
Represented significant creditor or equity constituencies in, among others, Exide Technologies (I), Dolan Company, Endeavor International, Venoco , Delta Petroleum and Interstate Bakeries, Chapter 11 cases
Represented fantasy sports operator in conjunction with formation of special purpose entity to comply with various state regulations
Represented fortune 200 corporation and other issuers in securitizations of receivables and other asset classes
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