Stephen Tetro is a partner in Chapman’s Special Situations and Restructuring Group and member of the Banking and Financial Services Department. 

Stephen’s practice focuses on representing secured and unsecured creditors, equipment lenders and lessors and other parties in interest in workouts and restructurings and bankruptcy and insolvency matters, both in and outside of court. Stephen’s work has included representing major financial institutions (including banks, private equity funds, hedge funds and non-traditional lenders) as secured creditors in out-of-court restructurings and workouts and in bankruptcy cases, and representing sellers and purchasers in asset sales (including Section 363 bankruptcy sales, out-of-court sales of distressed assets and UCC Article 9 foreclosure sales). Stephen has extensive experience representing administrative agents in workouts of syndicated credit facilities, as well as the negotiation and enforcement of subordination and intercreditor agreements. In addition, Stephen has experience with Chapter 15 cross-border proceedings. He has represented parties with a central role in contested matters in numerous bankruptcy courts around the country.

Prior to joining the firm, Stephen served as counsel in the Restructuring, Insolvency, and Workouts department of Latham and Watkins LLP.

Representative Matters

  • Represented indenture trustee in connection with the restructuring of $250 million of bonds issued by All Year Holdings Ltd. and secured by one of two residential apartment buildings that comprise The Denizen, a 911-unit complex in Brooklyn, New York.
  • Represented administrative agent for secured lenders in restructuring, out-of-court sale and ultimate bankruptcy case of for-profit post-secondary education institutions.
  • Represented secured lender in bankruptcy of producer of packaged foods.
  • Represented administrative agent for secured lenders in workout and restructuring of capital structure of unclaimed property business.
  • Represented secured lender in chapter 11 bankruptcy case and successful credit bid for the purchase of a beef processing plant.
  • Represented secured lender in workout and ultimate refinancing of loans to medical equipment manufacturer.
  • Represented administrative agent for secured lenders in out-of-court sale of investment advisory business.
  • Represented lender in syndicated credit facility in bankruptcy sale and restructuring of coal company.
  • Represented bondholders that financed purchase and sale or lease of hundreds of fleet aircraft in American Airlines and United Airlines bankruptcy cases.
  • Represented equipment finance lender in bankruptcy of coal company.
  • Represented secured project finance lender in bankruptcy of owner/operator of natural gas facility.
  • Represented lessor or railcars and locomotives in numerous bankruptcy cases.


Turnaround Management Association



U.S. Court of Appeals for the Seventh Circuit 


University of Chicago Law School, J.D., 1995

Cornell University, B.S., 1992

Notable Engagements




  • Panelist, "Distressed & Turnaround Opportunities in Healthcare Roundtable," iiBIG's 13th Annual Investment and M&A Opportunities in Healthcare Conference, September 20–21, 2021
  • Moderator, "What You Need to Know about Unrestricted Subsidiaries," 7th Annual Midwest Bank Special Assets & Credit Officer's Forum, September 7–8, 2017.
  • Panelist, "Checking Out?: Retail Bankruptcy Issues for Lenders and Lessors," 6th Annual Bank & Financial Institutions Special Assets Forum on Real Estate, C&I and SBA Loans, September 15–16, 2016
  • Panelist, “Intercreditor Basics (and Musings),” Chapman and Cutler CLE Marathon, May 10–11, 2016
  • Panelist: “Assessing and Managing Environmental Liabilities” 5th Annual Bank & Financial Institutions Special Assets Forum on Real Estate, C&I and SBA Loans, September 17–18, 2015
  • Panelist, “ABI Proposed Bankruptcy Code Reform: Implications for Secured Lenders,” Chapman and Cutler CLE Marathon, May 12–13, 2015
  • Panelist: “Don’t Get Stopped at the Border: Lessons on Cross-Border Restructurings” Toronto Chapter of Risk Management Association, Breakfast Seminar, February 11, 2015

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
  • 6
    Offices across the country and in key US financial centers

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