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Andrew G. Dietderich

Partner

Andrew G. Dietderich

Partner
New York +1-212-558-3830+1-212-558-3830 +1-212-558-3588+1-212-558-3588
[email protected]
Andy Dietderich is career-long S&C attorney, Co-Head of its Global Finance & Restructuring Group, founder of its transactional restructuring practice and one of the leading debtor-side restructuring lawyers in the United States. Andy started S&C’s restructuring practice with a focus on helping management teams set the strategic agenda during a restructuring and a belief that even the most superficially challenging restructuring situations can be mastered by incumbent management. Chambers recognizes Andy as a “strategy genius, who is able to boil down complex concepts into things clients can easily understand.” Andy has led successful out-of-court restructurings and liability management transactions of every type, as well as in-court representations of debtors, plan sponsors and proactive creditors in some of the largest and most challenging chapter 11 cases in U.S. history, including Garrett MotionCalifornia Resources Corporation, LSC Communications, SunEdison, Eastman KodakChryslerCaesars and General Growth Properties.

Unusual for a chapter 11 lawyer, Andy spends much of his time helping clients avoid chapter 11. He regularly counsels still-solvent companies considering liability management, rescue financings, balance sheet optimization, spin-offs, carve-outs and other strategic initiatives. Many of Andy’s projects feature special issues relating to the structure of corporate groups, corporate ring-fences, bankruptcy remoteness, intercompany transactions, cross-border financial arrangements and related fiduciary duty matters.

Andy grew up in the Pacific Northwest (Zig Zag, Oregon) and now lives in Brooklyn and the Hudson Valley.

SELECTED REPRESENTATIONS

Selected Restructuring Matters
  • Garrett Motion Inc. in its strategic review process, resolution of legacy spin-off commitments, liability management activities, sale process, Chapter 11 proceeding, and global reorganization
  • LSC Communications Inc. in its liability management activities, sale process, and Chapter 11 reorganization
  • California Resources Corporation in its competitive recapitalization process, the unwinding of its joint venture for dedicated gas processing and power, and Chapter 11 reorganization
  • American Energy Partners and the estate of Aubrey McClendon in their out-of-court liability management activities and resolution with creditors 
  • Eastman Kodak in its strategic review process, carve-out business unit dispositions, intellectual property licensing activities, liability management activities, pension settlements, 135-country global reorganization and Chapter 11 proceeding 
  • Pershing Square and Fairholme Funds in the design of a successful take-over defense for General Growth Properties during chapter 11, the creation of an alternative recapitalization proposal involving the re-listing of GGP as a solvent independent company, the spin-off of Howard Hughes Corporation, and the sponsorship of the implementing plan of reorganization
  • QCP, a public REIT, in its strategic review process and the arranged chapter 11 sale of its primary tenant, HCR ManorCare
  • TerraForm Power and TerraForm Global in their successful extraction from the Chapter 11 liquidation of their controlling parent, SunEdison, their disposition to Brookfield Asset Management, and the global settlement of all related litigation
  • MF Global in the distressed unwinding of its book and attempted rescue sale 
  • Fiat in the Chapter 11 purchase of Chrysler
  • Chrysler in the Chapter 11 restructurings of Takata and various other important suppliers
  • Philips in the Chapter 11 reorganization of Gibson Brands
  • Ares Management and Teachers’ Private Capital as acquiring sponsors of the reorganization of Simmons and the in-court combination of Simmons with Serta through a Chapter 11 plan of reorganization
  • The official committee of creditors of Energy Future Holdings 
  • Lion Capital in its acquisition of John Varvatos Enterprises 
  • Primorsk International Shipping in its sale process and Chapter 11 proceeding
  • White Star Petroleum in its sale process and Chapter 11 proceeding
  • Ascent Resources in its prepackaged Chapter 11 recapitalization
  • Pacific Drilling in its out-of-court liability management activities and Chapter 11 filing
  • PMI Group in the negotiated conservatorship of its primary operating subsidiary and subsequent Chapter 11 reorganization
  • Bank lenders in the global reorganizations of Abengoa, CHC Group and other debtors
  • CIT Group as corporate counsel in its prepackaged Chapter 11 reorganization, the largest prepackaged Chapter 11 case ever completed


Selected Special Situation and Other Matters

  • Fairholme Capital Management in its investment in The St. Joe Company and related proxy contest
  • Various buyers and sellers in negotiated M&A transactions, including the LBO of Bell Canada Inc. (Canada), the LBO of GMACCH (U.S.), and strategic investments in Telefónica S.A. (Argentina), Globo.com (Brazil) and Gener (Chile) 
  • Buyers, sellers, lenders and hedge providers in acquisition financings of all types, including the LBO financings for Harrah’s, Hertz, Neiman Marcus, Transmontaigne, Berry Plastics, Natural Gas Partners, Northeast Utilities and Vornado’s bid for Equity Office Properties
  • ‚ÄčLenders, sponsors or project companies in large project financings, including the runner-up bid for the Pennsylvania Turnpike (U.S.); the new Meadowlands Stadium for the New York Giants (U.S.); the Alaska natural gas pipeline (U.S. and Canada); the Bulyanhulu gold mine (Tanzania); the Intersur toll road (Peru); the Veladero gold mine (Argentina); the Merey Sweeny coker project (U.S.); the Cantarell nitrogen injection project (Mexico); the Camisea pipeline (Peru); the EVM and Cabiunas financings (Brazil); and the El Abra copper mine (Chile)
  • The providers and users of rate, currency, commodity and weather derivatives in the context of acquisition financings or restructurings, including JPMorgan, HSBC, J. Aron, Barclays, Merrill Lynch and numerous industrial companies

Recent Recognitions
  • Chambers USA: America’s Leading Lawyers for Business – recognized in Bankruptcy/Restructuring (2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022)
  • Chambers Global: The World’s Leading Lawyers for Business – recognized in Bankruptcy/Restructuring (2013, 2014, 2015, 2016, 2017, 2018, 2019, 2021, 2022)
  • Law360 MVP – Bankruptcy (2011 for General Growth Partners, 2013 for Kodak, 2017 for SunEdison Inc.)
  • Turnarounds & Workouts – recognized as an Outstanding Restructuring Lawyer (2010, 2011, 2014, 2015) 
  • The Legal 500, United States – recognized in Global Offerings (2008, 2009, 2010, 2011) and Corporate Restructuring (2011, 2012, 2013, 2014, 2015, 2017, 2018, 2019, 2020, 2021)
  • IFLR1000 Highly Regarded (2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021)
  • New York Super Lawyers (2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021)
  • Euromoney’s Guide to the World’s Leading Project Finance Lawyers (2006, 2007)
  • The Lawdragon 3000: Leading Lawyers in America (2009-2010)
  • The Lawdragon 500: Leading Lawyers in America – “The 500 Better Than the Best” (finalist, 2007)
  • The Best Lawyers in America (2015, 2016, 2017, 2018, 2019, 2020, 2021)