Michael M. Eidelman

Michael Eidelman is a bankruptcy and creditors’ rights lawyer who helps sophisticated lenders and asset purchasers resolve issues involving businesses in financial distress. He is also known for his work as a court-appointed fiduciary in high-profile cases.

Private and institutional lenders, private equity firms and purchasers of assets rely on Michael’s advice on all aspects of creditors’ rights, including bankruptcy, insolvency, secured lending, distressed M&A and collections. He represents receivers and other third-party fiduciaries in financings, sales and liquidations, and has acted as both Special Master and Federal Equity Receiver in distressed asset sales. In addition to U.S. state and federal court cases and cross-border transactions, Michael has advised on matters in Canada and Mexico.

Michael is known as a creative problem solver, crafting winning solutions that resolve clients’ problems in a pragmatic and efficient manner.

Michael previously served as a member and co-chair of the Bankruptcy Court Liaison Committee, which was established to address issues concerning bankruptcy judges and lawyers in the Northern District of Illinois. He speaks and writes on numerous bankruptcy-related issues.

Experience

• Appointed by the U.S. District Court for the Northern District of Illinois as receiver in U.S. Commodity Futures Trading Commission v. Peregrine Financial Group, Inc. and Russell R. Wasendorf, Sr., Case No. 1:12-cv-05383. The case involved a $200 million fraud claim.
• Appointed “Special Master” by the United States Government in United States of America v. All Business Assets of the Viceroy L’Ermitage Beverly Hills et al., Case No. CV 16-5369-DSF-PLA, pending in the United States District Court for the Central District of California (Case No. CV 16-5369-DSF-PLA) (relating to an alleged multibillion-dollar 1MDB fraud).
• Served as counsel for the Chapter 7 trustee for Central Grocers, Inc. and certain of its affiliates (CGI). At the time of its bankruptcy filing, CGI was the seventh-largest grocery cooperative in the United States, with over $2 billion in consolidated annual sales.