Randall L. Klein

Overview

Randy Klein is a Principal at Goldberg Kohn and Co-Chair of the firm’s Bankruptcy & Creditors’ Rights Group. He concentrates his practice on the protection and enforcement of creditors’ rights.

Randy is nationally recognized as a leader in his field, and for his experience in the drafting and enforcement of intercreditor agreements and unitranche agreements. He participated extensively in the drafting of the Loan Syndications and Trading Association's (LSTA) "Form of Agreement Among Lenders," published in 2019, and has been a frequent lecturer on the topic. He also served as Vice Chair of the ABA's Committee on Commercial Finance's Model Intercreditor Agreement Task Force, and was a contributing author of the Report and Model ABA Form Intercreditor Agreement. In 2012, he co-authored the First Report of the Commercial Finance Association to the ABI Commission to Study the Reform of Chapter 11.

At the invitation of his peers, Randy was named a Fellow in the American College of Bankruptcy. Also among his accolades, every year since 2005 he has been individually ranked in Chambers USA for his work in Bankruptcy/Restructuring Law. Each year since 2020 he has been selected to the "Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers" list.

Randy joined Goldberg Kohn in September 1993.

"I think he's one of the best secured lender lawyers in the country and the best in Chicago"

~ Chambers 2023 Guide

Experience

Representation of Agent for senior secured lenders in connection with the American Commercial Lines chapter 11 case.
Representation of Agent for senior secured lenders in connection with the out-of-court restructuring of loans to Corner Bakery.
Representation of Agent for senior secured lenders in connection with the chapter 11 case of Rubio’s Restaurants.
Representation of Fun Eats & Drinks in connection with successful non-cash credit bid and litigation against minority lenders.
Representation of LBC Credit Partners in connection with successful litigation against majority lender regarding a non-consensual “uptiering” transaction.

Credentials

Education

Northwestern University Pritzker School of Law, J.D., 1990
– cum laude
University of Illinois at Urbana-Champaign, B.A., 1987

Admissions

Illinois

Professional Activities

Fellow of the American College of Bankruptcy
ABA Model Intercreditor Agreement Task Force, Vice Chair
American Bankruptcy Institute, Member
Turnaround Management Association, Member
American Bar Association, Member

Publications

“Enforcement of the Board Flip – Delaware Bankruptcy Court Confirms Validity of Secured Lender’s Proxy Exercise,” a Goldberg Kohn Alert, April 18, 2023.
“Lender Liability Management: Contractual Traps for Minority Lenders or Fraudulent Transfer Risk for the Majority?,” a Goldberg Kohn Alert, Nov. 14, 2022.
“Lender Liability Management: Restoration of the Duty of Good Faith,” a Goldberg Kohn Alert, April 22, 2022.
“Opposition to PEB Commentary No. [ ], Injunction Against a Noncomplying Disposition Under Section 9-610 of the Uniform Commercial Code,” The Secured Lender, Nov. 2021.
“How the New UST Fee Schedule Is a Ticking Tax-Bomb for Middle Market Debtors,” The Bankruptcy Strategist, May 4, 2018.
“ABI Bankruptcy Reform: Will It Destroy Cash Flow Lending,” The Bankruptcy Strategist, April 2015.
“Majority Rules: Non-Cash Bids and the Reorganization Sale,” American Bankruptcy Law Journal, September 2010. (The article resulted from Randy’s novel structuring and implementation of the acquisition of Ames Taping & Tooling by a subset of junior secured lenders for non-cash consideration, including debt and equity securities issued by the acquisition entity.)
“The Pre-Petition Right to Post-Petition Income Streams and the Misinterpretation of Section 552,” American Bankruptcy Institute Journal, December 2010.

Presentations

“An Analysis of the Final Report of the ABI Commission to Study the Reform of Chapter 11,” a joint webinar for The Loan Syndications and Trading Association and the Secured Finance Network, Dec. 11, 2014.
“Discussion of the Bankruptcy Reform Commission’s Recommendations to Reform Chapter 11,” at the Secured Finance Network’s Annual Convention, 2014.
“The New ABA Model Intercreditor Agreement,” an American Bar Association’s Section of Business Law’s Commercial Finance Committee teleconference, March 25, 2010.
“Dealing with Intercreditor Issues in Today’s Loan Markets – The Role of the ABA Model Intercreditor Agreement,” at the Secured Finance Network’s 65th Annual Convention, Nov. 6, 2009.