Image of Fredric Sosnick

Fredric Sosnick

Partner

Email

FSosnick@aoshearman.com

Phone

+1 212 848 8571

Offices

New York

V-CARD
Fred is Global Co-Head of Restructuring and a member of the Executive Committee.

He focuses on advising clients in connection with large and complex domestic and international out-of-court restructurings and U.S. Chapter 11 cases, as well as providing advice to boards of directors on governance matters.

Fred represents debtors, official creditors’ committees, lender groups, DIP lenders, creditors and acquirers of assets. His clients include money-center banks and other lenders, corporates, and funds.

Expertise

Industries

Experience

Representative matters

  • Hawaiian Electric Company, Inc. in various governance related issues. 
  • Vice Media—the global digital media and broadcasting company—in its Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York, including a $350 million sale to a consortium of pre-petition lenders. 
  • Citibank N.A. on issues relating to bank counterparties that were in financial distress or seized by regulators. 
  • Stoneway Capital Ltd. and its debtor affiliates in their Chapter 11 cases involving approximately $834 million of secured debt. Stoneway Capital is an Argentine holding company whose interests include building and operating power plants in Argentina.
  • Citibank, N.A., acting as the administrative agent and lender under a revolving credit agreement, in the Chapter 11 bankruptcy cases of Valaris plc and some of its subsidiaries.
  • Bank of America, N.A., acting as the administrative agent and lender under a first lien credit facility, in the Chapter 11 cases of UTEX Industries, Inc.
  • Citibank N.A. as agent on a $1.75 billion DIP facility in the Chapter 11 cases of Weatherford International plc—the Oil & Gas Services company—in the United States Bankruptcy Court for the Southern District of Texas. 
  • Prairie Farms in purchase of dairy processing facilities and related assets in Dean Foods’ Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas via a section 363 sale. 
  • Ad hoc group of first lien lenders in connection with the Chapter 11 cases of Blackhawk Mining LLC and some of its affiliates.
  • Sears Hometown and Outlet Stores Inc. in Sears Holding’s Chapter 11 cases.
  • Nuverra Environmental Solutions, Inc. and its affiliates as debtors in their pre-packaged Chapter 11 cases and their confirmation appeals.
  • GSP bridge lenders in the restructuring of Odebrecht S.A. 
  • EcoEléctrica L.P. as one of the largest suppliers to the Puerto Rico Electric Power Authority (PREPA).
  • Bank of America N.A. as administrative and collateral agent under a secured credit facility totaling over $1 billion in Toys “R” Us’ chapter 11 cases.
  • Citibank, N.A. as agent and lender under a revolving credit agreement for Pacific Drilling S.A. in the company’s chapter 11 cases.
  • Natixis as administrative agent and lender under a term loan agreement guaranteed by Odebrecht S.A., Odebrecht Latinvest Peru Ductos S.A., and Graña y Montero.
  • Barbados Creditor Group in the restructuring of the sovereign debt of Barbados. 
  • Citibank, N.A. as administrative agent, collateral agent and letter of credit issuer under the $800 million post-petition financing for Westinghouse Electric Company LLC. 
  • Citibank as administrative and collateral agent in connection with a $5.4 billion superpriority priming DIP refinancing facility and Deutsche Bank in connection with the original DIP loan made to Energy Future International Holding Company LLC (EFIH) in the Energy Future Holding Chapter 11 cases.
  • The Boston Globe as a major unsecured creditor/contract counterparty of HMH Media Inc. in the Boston Herald Chapter 11 cases.
  • Chapter 15 debtors Groupo Isolux Corsan S.A in connection with its Spanish and Dutch prepackaged proceedings. 
  • Chapter 15 debtor in Inversora Eléctrica de Buenos Aires’ US insolvency proceeding, implemented in parallel with Acuerdo Preventivo Extrajudicial’s (APE) proceeding in Argentina.
  • Bank of America N.A. as lender under a bilateral facility for Samarco Mineração S.A. 
  • Citibank, N.A. as DIP lender and in connection with certain other exposure to SunEdison and its affiliates in SunEdison’s Chapter 11 cases.
  • Barclays as lender in connection with the Chapter 11 cases of Sabine Oil & Gas Corporation. 
  • Chapter 15 debtor in connection with Lupatech S.A.’s Brazilian bankruptcy proceedings.
  • Citibank, N.A. as administrative agent under Foresight Energy LP’s revolving credit agreement and term loan facility in connection with an agreed out-of-court restructuring.

Published Work

  • Sosnick, F. (2022) “Financially Distressed Companies Answer Book”, New York: Practising Law Institute

Recognition

“Does an excellent job strategizing and executing throughout to navigate a difficult process” and “is a phenomenal attorney.”
Chambers USA, 2023
“An extremely sophisticated restructuring lawyer with an astute business acumen and commercial awareness.”
Chambers USA, 2023

Awards

  • “Highly Regarded”, Financial and Corporate section of the IFLR 1000—The Guide to the World’s Leading Financial Law Firms, 2023
  • Ranked in Chambers USA: Bankruptcy/Restructuring, 2015-2024
  • Featured as a Top-Rated Creditor/Debtor Right Attorney in Super Lawyers, 2023 
  • Recommended in Legal 500: Financial Restructuring & Insolvency, 2021
  • M&A Advisor Turnaround Atlas Awards for the firm’s representations in connection with Chapter 11 proceedings of Energy Future Holdings, Westinghouse Electric, Pacific Drilling N.A., and Vice Media

Qualifications

Admissions

State of New York, 1992

Courts

United States Court of Appeals for the Second Circuit

United States Court of Appeals for the Third Circuit

United States District Court for the Southern District of New York, 1992

United States District Court for the Eastern District of New York, 1992

Academic

Bachelor of Arts, cum laude, State University of New York at Albany, 1987

J.D., magna cum laude, The American University, Washington College of Law, 1990

Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.