George Shuster is a member of both the firm's Debt Finance Group and Bankruptcy and Financial Restructuring Group, having practiced in both areas for his two-decade career to date.

In his debt finance practice, Mr. Shuster represents borrowers, lenders, and other investors in a broad range of transactions, from investment-grade credit facilities to structured loans and specialty finance products. Mr. Shuster has particular knowledge of credit facilities and other debt finance transactions in the life sciences industry and other transactions dependent on intellectual property for collateral or monetization, including royalty finance and purchase transactions. Transactions handled by Mr. Shuster range from the single-digit millions to the billions, and from the straightforward to the highly novel and complex. Mr. Shuster also assists clients with Uniform Commercial Code matters arising in their contracts, banking and securities relationships, and secured transactions. Mr. Shuster’s hybrid experience in both bankruptcy and debt finance spheres provides his clients with an enhanced risk-mitigation perspective when negotiating and documenting commercial transactions.

In his bankruptcy and financial restructuring practice, Mr. Shuster represents public and private technology companies, real estate developers, manufacturers and financial organizations, as well as lenders to and other investors in those businesses. His bankruptcy and financial restructuring work encompasses insolvency and bankruptcy planning in licensing, collaboration and other transactions, as well as out-of-court workouts and in-court bankruptcy matters. Mr. Shuster leads clients through chapter 7, 11 and 15 bankruptcy proceedings, assignments for the benefit of creditors, and state-law dissolutions. Mr. Shuster has specific experience representing buyers of assets from financially stressed and distressed sellers. Mr. Shuster works in both transactional and litigation spheres of the insolvency space, negotiating and closing transactions as well as leading cases through state courts and federal bankruptcy courts, district courts and courts of appeal throughout the country. Mr. Shuster also works on cross-border insolvency-related matters, and has specific experience in Latin American and European markets.

Mr. Shuster is a prolific writer with a long-standing column on cross-border insolvency issues, and his writings on bond indenture issues have been cited by many courts in their decisions, including several federal courts of appeal. He is considered a leading authority on the Trust Indenture Act in the restructuring context.

Experience

  • Debt Finance

    • Structured secured first-lien $100 million delayed-draw term loan to a developmental pharmaceutical company. (borrower)
    • Structured secured first-lien $25 million delayed-draw term loan to a commercial pharmaceutical company. (lender)
    • Structured secured second-lien/mezzanine $15 million asset-backed loan to an on-line lending platform. (lender)
    • Secured first-lien $65 million revolving loan and term loan facility for an energy services company. (lender)
    • Bridge note facility, with $20 million in availability, for a consumer products company. (lender)
    • Bridge note facility, with $50 in availability, for a telecommunications company. (lender)
    • Investment-grade $1.1 billion credit facility for an entertainment company. (borrower)
    • Investment-grade $500 million credit facility for a telecommunications company. (borrower)
    • Receivables purchase facility, with $150 million in availability, for a telecommunications company. (borrower)
    • Royalty purchase transaction, with $100 million in total consideration, for a developmental pharmaceutical company. (borrower)
    • Collaboration and licensing transaction with a developmental cannabinoid company. (counterparty)
  • Bankruptcy & Financial Restructuring

    • Chapter 11 liquidation of Argos Therapeutics, Inc. (debtor)
    • Out-of-court wind-down of Theranos, Inc. (debtor)
    • Mexican concurso mercantil proceeding of ICA. (creditor)
    • Chapter 11 reorganization of PG&E. (creditor)
    • Chapter 11 liquidation of Toys ‘R Us. (creditor)
    • Chapter 11 liquidation of Digital Domain. (creditor/DIP lender)
    • Chapter 11 section 363 patent sale of Eastman Kodak. (seller)
    • Chapter 11 section 363 patent sale of Nortel Networks. (buyer)
    • Chapter 11 reorganization of American Airlines. (creditor)
    • Out-of-court distressed sale of online security assets. (buyer)
    • Out-of-court distressed sale of developmental pharmaceutical assets. (seller)
    • Litigation arising from the insolvency proceedings of BLMIS and Fairfield Funds. (defendants)
  • Pro Bono

    • Representation of private foundation in successfully obtaining purchase of defunct Rocky Point Amusement Park as a new 124-acre waterfront Rhode Island state park
    • Representation of Mozambique Safari park operator in various financing transactions
    • Representation of 80-year-old, New Hampshire, family-owned boarding inn in successful Chapter 11 case and related fraudulent transfer litigation
    • Representation of Georgia farmer in successful reply to US Supreme Court petition seeking recovery of disaster relief proceeds
    • Representation of Massachusetts consumer debtor in Chapter 7 case and as amicus curiae in related US Supreme Court litigation

Recognition

  • Named to M&A Advisor's “40 Under 40” list in 2013, recognizing the leading M&A, financing and turnaround professionals.
  • Selected by his peers for inclusion in the 2020–2024 editions of Best Lawyers in America for his work in bankruptcy and creditor debtor rights/insolvency and reorganization law.
  • Named to Boston Magazine’s Top Lawyers list in 2021–2023 in the area of bankruptcy.
  • Recognized as a Massachusetts leader in the Bankruptcy/Restructuring field in the 2010 and 2011 editions of Chambers USA: America's Leading Lawyers for Business.
  • Named a "Massachusetts Super Lawyers' Rising Star" in the bankruptcy and workout area in the 2005–2007, 2010–2012 and 2018 issues of Boston Magazine. Named a "New England Super Lawyer" (formerly Massachusetts Super Lawyer") in 2008, 2013–2017 and 2019.

Insights & News

Credentials

  • Education

    • JD, University of Virginia School of Law, 2000

    • BA, Columbia University, 1997

      summa cum laude Phi Beta Kappa
  • Admissions

    • Massachusetts

    • New York

    • US Supreme Court

Credentials

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