Jay Goffman is the global co-head of Skadden’s Corporate Restructuring Group. Over the course of his career, Mr. Goffman has been honored with numerous awards directly related to restructuring. He was named among The Decade’s Most Influential Lawyers by The National Law Journal in March 2010.
He was recognized as one of The American Lawyer’s Dealmakers of the Year in April 2011 for his work in restructuring Metro-Goldwyn-Mayer, Inc. (MGM), the largest prepackaged bankruptcy ever completed in under 33 days.
In the 2011 Financial Times’ U.S. Innovative Lawyers report, Mr. Goffman was named as one of the 10 most innovative lawyers in the U.S. and recognized as a “pioneer” and a leader in out-of-court and prepackaged restructurings.
In May 2016, Mr. Goffman was presented with the Restructuring Leadership Achievement award at the 8th Annual Turnaround Atlas Awards recognizing his leadership in guiding the turnaround and growth of many companies around the world and his numerous contributions to the broader restructuring community over the course of more than three decades.
In June 2016, The American Lawyer bestowed upon Mr. Goffman its Transatlantic Finance Dealmaker: Restructuring (U.S.) award recognizing his extraordinary contributions to the field of international restructuring.
In June 2015, the New York Institute of Credit bestowed upon Mr. Goffman its 42nd Leadership in Credit Education Award recognizing his demonstrated dedication and commitment to the credit industry over the course of several decades. He also has been named one of Law360’s MVPs and one of the Leading Restructuring Attorneys in the U.S. by Turnarounds and Workouts on numerous occasions.
Mr. Goffman also has received numerous awards and accolades apart from his accomplishments in the restructuring industry. In 2013, Mr. Goffman was a recipient of the prestigious Blue Cloud Award, bestowed upon him in recognition of his many years of service promoting stronger relationships and cultural exchange between the United States and China.
In 2014, the AJC bestowed upon Mr. Goffman its National Human Relations Award recognizing his efforts to build a society that rejects hatred and bigotry and embraces human bridges of mutual respect and cooperation.
In 2018, Tina’s Wish, a charity created in honor of former Chief Bankruptcy Judge (SDNY) Tina Brozman, and dedicated to the prevention and cure of ovarian cancer, chose Mr. Goffman as its 2018 honoree, and presented him with the Tina Brozman Mentoring Award, recognizing his efforts in support of this worthy cause.
Also in 2018, the University of North Carolina School of Law bestowed upon Mr. Goffman its Distinguished Alumni Award, recognizing his decades of service to the legal profession, the nation and the world at large, as well as his commitment to the highest ideals of the legal profession and his dedication to the cause of justice.
The vast majority of Mr. Goffman’s restructurings are completed through quick, cost-efficient out-of-court — or prepackaged — restructurings. Some of the highly successful out-of-court restructurings/recapitalizations led by Mr. Goffman include those of America West Airlines, Centro Properties Group, DS Waters, Everest Capital, Evergreen International Aviation, Globalstar, Intrawest Resorts, Ion Media, the Portland Trailblazers, RREEF, Offshore Logistics, Travelport, Torm, Triumph Group (Vought Industries) and Westwood One.
Mr. Goffman also played a leading role in Charter Communications’ prearranged restructuring, representing Paul Allen as the owner. The Bankruptcy Court for the Southern District of New York called the Paul Allen settlement the “lynchpin” of “perhaps the largest and most complex prearranged bankruptcy ever attempted,” which “in all likelihood ranks among the most ambitious and contentious as well.
In addition, he has advised on numerous traditional Chapter 11 cases for U.S. and international companies, including SunEdison, Lyondell-Basell, Olympia and York, Eastern Airlines, Excel Shipping, Nautilus Shipping, Quigley, Pacific Drilling, Syms, Filene’s Basement, Texaco and Saxon Industries.
Mr. Goffman’s restructuring success has not been limited to the United States, as he also has led international restructurings in Europe, Australia, Asia, Latin America and the Middle East, including Better Place, Centro, CEDC, Excel LyondellBasell, Nautilus, NTL, Roust, Russian Standard Bank, Torm and Travelport. Such restructurings have included out of court restructurings, schemes of arrangement and Chapter 11 and Chapter 15 cases.
Mr. Goffman is a fellow of the American College of Bankruptcy. He also is a member of the International Insolvency Institute and a member of INSOL and its G36 Organization. Mr. Goffman serves on the Board of Directors and the International Restructuring Committee of the American Bankruptcy Institute.
In addition, for many years, he was Vice Chairman and a member of the Board of Trustees of the China Institute, and he currently is a member of the Board of Directors and Treasurer of the Cerebral Palsy Alliance Research Foundation.
Mr. Goffman also was the Co-Chair of the ABI Commission’s Plan Process Committee, whose mandate was to evaluate all aspects of the plan of reorganization process in conjunction with a study of proposed revisions to the Bankruptcy Code. He also was Co-Chair of the Turnaround Management Association Futures Task Force.
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