Overview

Larry Halperin is a partner in Chapman's Special Situations and Restructuring Group, and Co-Office Leader of the firm's New York office.

Larry focuses his practice on financial restructuring of distressed companies, high yield and distressed debt transactions, commercial lending transactions and mergers and acquisitions (M&A). He represents agents, private funds, investment banks, and financial institutions in connection with their investments in, and financing transactions to, mid-cap companies. He also represents special restructuring committees of boards of directors and independent directors of distressed companies in restructuring matters.

As part of his M&A practice, Larry counsels clients who desire to acquire portfolio companies in need of restructuring by acquiring such companies' distressed debt. He has advised lenders in connection with an orderly exercise of remedies to achieve a practical, business oriented restructuring solution for the company and the acquiring fund. He also advises clients participating in the global secondary market for troubled and non-performing loans and claims.

Larry speaks widely at industry conferences on distressed investing and restructuring topics, including the American Bankruptcy Institute (ABI) VALCON conference, American College of Investment Counsel (ACIC) conferences, and Turnaround Management Association (TMA) conferences and chapter programs. Larry teaches a corporate restructuring class as an adjunct professor at the Darden School of Business at the University of Virginia. Additionally, he is a popular restructuring class guest lecturer for undergraduate business and MBA students at Columbia University and the University of Michigan, as well as the University of Michigan Maize and Blue Fund and the University of Michigan Entrepreneur & Venture Club.

Larry has co-authored three case studies, one of which has been published, which have been presented in business schools and at industry conferences.

Larry is also a CPA.

Representative Matters

Board / Independent Director Representation
  • Represented special committee of the board of directors of a healthcare and wellness company through a restructuring process
  • Represented independent directors in an orderly out-of-court liquidation
  • Represented independent director in connection with a strict foreclosure by senior secured lenders
  • Represented the sole independent director of a large conference center hotel
M&A Transactions
  • Represented private investment firm in the acquisition of a supplier of high-precision metal components
  • Represented private investment firm in the acquisition of a commercial vehicle suspension component supplier
  • Represented a private fund in its acquisition in the secondary market of senior secured loans and executed strict foreclosure resulting in the client owning a portfolio company
  • Represented private fund in the acquisition of a leading producer of fresh and processed pork and turkey products
  • Represented private fund in its investment in a structural steel fabrication business
  • Represented private fund in the acquisition of an international precision injection molding specialist business
  • Represented private fund in the acquisition of a global manufacturer of complex assembled components and finished products servicing the datacenter, automotive, energy and industrial markets
  • Represented private fund in connection with its investment in a company organized to purchase receivables of a state government
  • Represented private fund in the acquisition of subordinated secured notes of aircraft holdings company
  • Represented private funds in connection with its sale of a trailer company
  • Represented mezzanine lender of its purchase of a securitized senior loan to a residential real estate complex
Restructuring / Distressed M&A
  • Represented a lender in connection with its bridge loan to a coal company and the purchase of such company
  • Represented private fund in connection with its bid in a 363 bankruptcy sale
  • Represented agent of a four-member syndicate in a “loan to own” transaction of an integrated temperature controlled logistics services business
  • Represented client in connection with its 363 stalking horse bids for critical care residential center
  • Represented a lender in connection with a strict foreclosure of a pharma trials facilitator company
  • Represented a lender in connection with a strict foreclosure of a pharma advertising company

Memberships

American Bankruptcy Institute

American College of Investment Counsel

Turnaround Management Association

Admitted

New York

Education

University of Pennsylvania Law School, J.D., cum laude, 1987

University of Michigan, B.B.A., with distinction, 1982

Notable Engagements

Insights

Publications

Presentations

  • Panelist, "Case Study in Conjunction with the 2022 Complex Financial Restructuring Program: Hexative," VALCON 2022, May 11, 2022
  • Panelist, "The Restructuring of Danfurn LLC," TMA New York City Chapter Academic Relations Program, November 17, 2021
  • Panelist, "COVID's Impact on Industries," TMA New York City Chapter Academic Relations Program, April 15, 2021
  • Panelist, "The Restructuring of Danfurn LLC," TMA New York City Chapter Webinar, November 18, 2020
  • Panelist, "Saviors of the Post-COVID-19 Economy," TMA New York City Chapter Webinar, May 20, 2020
  • Panelist, "The Challenges in Valuing and Restructuring Distressed Continuing Care Retirement Facilities (CCRCs)," VALCON 2020, February 26–28, 2020
  • Panelist, "Mitigating Successor Liability Risks in Distressed Transactions," TMA Distressed Investing Conference, February 5–7, 2020
  • Moderator, "Valuing and Restructuring Distressed Companies in the Face of Operational Headwinds," TMA NYC Academic Relations Class, November 11, 2019
  • Moderator, "Valuing and Restructuring Distressed Companies in the Face of Operational Headwinds," ACIC Fall Annual Meeting and Education Conference, October 17–18, 2019
  • Panelist, "Everything You Always Wanted to Know about Muni Workouts, But Were Afraid to Ask," Municipal Analysts of New York, April 12, 2019
  • Panelist, "Valuing and Restructuring Distressed Companies in the Face of Financial and Operational Headwinds," VALCON 2018, February 27–March 1, 2019
  • Panelist, "Valuing and Restructuring Distressed Companies in the Face of Financial and Operational Headwinds," VALCON 2018, May 16–18, 2018
  • Panelist, "Valuing and Restructuring Distressed Companies in the Face of Operational Headwinds," TMA Chicago/Midwest Chapter Event, October 27, 2017
  • Moderator, "Valuing and Restructuring Distressed Companies in the Face of Operational Headwinds," TMA Distressed Investing Conference, February 1–3, 2017
  • Moderator, "363 Bankruptcy Sales," ACIC Fall Annual Meeting and Education Conference, October 20–21, 2016
  • Moderator, "An Interactive Negotiation of a Distressed Company Restructuring," 6th Annual Bank and Financial Institutions Special Assets Forum on Real Estate, C&I and SBA Loans, September 15–16, 2016
  • Co-Presenter, "Remedies for Distress: Nuances of the 363 Sale Process," LSTA's CLE Seminar, April 19, 2016
  • Panelist, "An Interactive Negotiation of a Distressed Company Restructuring," ABI's VALCON 2016, March 14–16, 2016

We have always been focused on finance.

  • 1913
    TS Chapman partners with Henry Cutler to form Chapman and Cutler
  • 1st
    Chapman's first client in 1913 is still a client of the firm today
  • 22
    Diverse financial practices serving regional, national, and global clients
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