Shai represents ad hoc lender and noteholder groups, asset managers, hedge funds, and CLOs in a wide range of in-court and out-of-court transactions and disputes. He has represented lenders in some of the largest liability management exercises (LMEs) and chapter 11 cases in recent years. These include Invesco in the Robertshaw matter, lender groups in First Brands, Saks Global, Tropicana, Quest Software, Wellness Pet, Oregon Tool, Better Health Group, Allen Media Group, Ivanti Software, and Magenta Buyer (McAfee), and a lender to Del Monte Foods in connection with an LME-related litigation.

Shai has extensive experience in intercreditor litigation in state and bankruptcy courts, contested Chapter 11 plan confirmations, DIP financing, and other bankruptcy- and restructuring-related disputes.

Recognized as a leading authority on LMEs and intercreditor issues, Shai is regularly featured in The Financial Times, Bloomberg, The Wall Street Journal, Octus, Debtwire, 9Fin, and other top business publications for his insights.

Shai has represented:

  • An ad hoc group of lenders to First Brands in connection with a debtor-in-possession (DIP) financing.
  • An ad hoc group of Saks Global bondholders in connection with a liability management exercise.
  • Invesco Senior Secured Management in the Robertshaw state court proceeding and Chapter 11 case, litigating the validity of a pre-petition liability management exercise.
  • An ad hoc group of lenders to Quest Software in connection with a liability management exercise.
  • An ad hoc group of lenders to Wellness Pet in connection with a liability management exercise.
  • An ad hoc group of lenders to Tropicana Brands Group in connection with a liability management exercise.
  • A lender to 24-Hour Fitness in connection with a liability management exercise.
  • An ad hoc group of lenders to Oregon Tool, Inc. in connection with a liability management exercise.
  • An excluded lender in the Del Monte Foods litigation in connection with a liability management exercise.
  • An ad hoc group of lenders to Better Health Group in connection with a liability management exercise.
  • An ad hoc group of lenders to Magenta Buyer LLC (McAfee) in connection with a liability management exercise.
  • An ad hoc group of lenders to Allen Media Group.
  • An ad hoc group of lenders to Ivanti Software, Inc. in connection with a liability management exercise.
  • An ad hoc group of non-RSA secured lenders in the Chapter 11 case of Cineworld Group PLC.
  • An ad hoc group of unsecured noteholders of Endo International plc and its affiliates in their chapter 11 proceedings.
  • An ad hoc group of shareholders of Hertz Global, Inc. in its chapter 11 case.
  • The Official Committee of Equity Securities Holders in the Chapter 11 case of Garrett Motion Inc.
  • Best Lawyers, One to Watch, 2022-23
  • Shai Schmidt discusses Selecta bondholder litigation with the Wall Street Journal (October 2025) Read here (subscription required).
  • Partner Shai Schmidt Shares Insights on Liability Management at Columbia Law School and TMA Brazil’s Restructuring Conference (October 2025) Read here.
  • Shai Schmidt discusses how minority lenders are thinking about LMEs with 9fin (September 2025) Read here.
  • Shai Schmidt discusses the out-of-court restructuring trend with The Financial Times (August 2025) Read here (subscription required).
  • Partner Shai Schmidt spoke with The Deal about the evolving role of liability management exercises (LMEs) as market uncertainty intensifies (May 2025) Read here.
  • Shai Schmidt discusses the rising use of cooperation agreements and the potential challenges they present for distressed investors with PitchBook (April 2025) Read here.
  • Shai Schmidt discusses rise of LMEs with the Wall Street Journal (March 2025) Read here (subscription required).
  • Shai Schmidt discusses key takeaways from Serta & Mitel decisions with Turnarounds & Workouts (January 2025) Read here (subscription required).
  • Shai Schmidt quoted in Debtwire on how the influx of capital in the credit markets has affected out-of-court restructurings (January 2025) Read here.
  • Shai Schmidt quoted in Law360 on impact of Serta ruling (January 2025) Read here. (subscription required).
  • Shai Schmidt quoted in Bloomberg on LME mechanics (January 2025) Read here. (subscription required).
  • Shai Schmidt quoted in 9Fin on the importance of the Mitel decision (January 2025) Read here. (login required).
  • Shai Schmidt quoted in 9Fin on the evolution of LME legal challenges (November 2024) Read here. (subscription required).
  • Shai Schmidt discusses joint cooperation agreements with Reorg (October 2024) Read here.
  • Shai Schmidt quoted in Bloomberg on debt restructuring delays (August 2024) Read here.
  • Shai Schmidt authors Reorg article on double-dip financings (July 2024) Read here.
  • Shai Schmidt discusses Supreme Court decision on fraud-discharge exception with Turnarounds & Workouts (April 2023) Read here.
  • Shai Schmidt featured in Law360 on the Boy Scouts bankruptcy case (September 2022) Read here.
  • Shai Schmidt featured in Bloomberg Law on Boy Scouts bankruptcy ruling (August 2022) Read here.
  • Andrew Glenn and Shai Schmidt featured in Turnaround & Workouts’ 2022 Outlook (January 2022) Read here.
  • Shai Schmidt featured in Law.com’s “How I Made Partner” Q&A series (November 2021) Read here.
  • 3rd Circuit Decision Casts Doubt on Gifts to Individual Class Members, Turnarounds & Workouts (September 2021) Read here.
  • Andrew Glenn and Shai Schmidt featured in The Deal’s Deal Doctors column (June 2021) Read here.
  • 3rd Circuit Continues Momentive Trend For Secured Creditors, Law360 (Aug. 6, 2019) Read here.
  • Momentive Disrupts Intercreditor Agreements and Reorgs, Law360 (Feb. 8, 2019) Read here.

CREDENTIALS

  • Harvard Law School, LL.M., 2009
    • Fulbright Fellow
  • The Hebrew University of Jerusalem, LL.B., magna cum laude, 2007

ADMISSIONS

  • State Bar of New York
  • U.S. District Court for the Eastern District of New York
  • U.S. District Court for the Southern District of New York
  • U.S. Court of Appeals for the First Circuit
  • U.S. Court of Appeals for the Second Circuit
  • Israel

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Glenn Agre Partner Shai Schmidt Discusses Corporate Borrowers’ Emerging LME Tactics with Octus

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Wall Street Journal, Bankruptcy, Restructuring & Distressed Debt

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Shai Schmidt Discusses Selecta Bondholder Litigation with The Wall Street Journal

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