Matthew Sarna

Debtor Representations

• Counsel to pharmaceutical company, Vyera Pharmaceuticals, LLC certain of its affiliates, in connection with their subchapter V cases in the United States Bankruptcy Court for the District of Delaware. As part of this representation, DLA Piper assisted in a combination sale and restructuring of the Debtors’ businesses through a fully consensual joint subchapter V plan of reorganization and liquidation.
• Counsel to medical device company, TriVascular Sales LLC and certain of its affiliates, in connection with their chapter 11 cases in the United States Bankruptcy Court for the Northern District of Texas. As part of this representation, DLA Piper assisted in the restructuring of the Debtors' business and debt structure. 
• Counsel to medical device company, Valeritas Holdings, Inc. and certain of its subsidiaries, in connection with their chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. As part of this representation, DLA Piper assisted the Debtors, as the first noted company to file chapter 11 in Delaware due, in part, to the COVID-19 pandemic, in consummating the sale of substantially all of the Debtors' assets for over US$23mm in sale proceeds.
• Counsel to trucking company, Celadon Group, Inc. and certain of its subsidiaries, in connection with their chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. As part of this representation, DLA Piper assisted the Debtors, as part of the largest trucking company bankruptcy filing in history, in consummating more than fifteen 363 sales, including the sale of the Debtors' primary operating entity. 
• Counsel to hospital and skilled nursing facility operator, Promise Healthcare Group, Inc. and certain of its subsidiaries, in connection with their chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. As part of this representation, DLA Piper assisted in consummating the sale of substantial Debtors' assets for over US$250mm in sale proceeds, and also helped preserve nearly all residency and employee positions. 

Distressed M&A and Sell-Side Representations

• Counsel to stalking horse purchaser, ABG-Regatta LLC, an affiliated of Authentic Brands Group, in connection with its acquisition of substantially all assets of The Rockport Company, LLC, et al.
• Counsel to DIP Lender and stalking horse purchaser, New TSI Holdings, Inc., affiliate of Tacit Capital LLC, in connection with its provision of DIP loans and acquisition of substantially all assets of Town Sports International, LLC in In re Town Sports International, LLC, et al. 
• Counsel to DIP Lender and plan sponsor, GT Gettaxi Limited, in connection with its provision of DIP loans and sponsorship of Juno USA LP's joint plan of reorganization and liquidation in In re Juno USA LP, et al.
• Counsel to stalking horse purchaser, Spyglass Media Group, LLC (f/k/a Lantern Entertainment LLC), in connection with its acquisition of substantially all assets of The Weinstein Company Holdings LLC for over US$289mm in In re The Weinstein Company Holdings LLC, et al. As part of this ongoing representation, DLA Piper assisted in the resolution of over 30 contested matters regarding the parties' asset purchase agreement and related obligations, and also defended against appeals before the United States District Court for the District of Delaware and the United States Court of Appeals for the Third Circuit.

• Co-Author, "Texas Bankruptcy Court Holds That Bankruptcy Code Overrides Delaware Limited Liability Company Act," Pratt's Journal of Bankruptcy Law, April-May 2024
• Author, "The All-Powerful Sub V Trustee," ABI Journal, December 2023
• Co-author, "Bankruptcy Blocking: What Wind Power Cos. Must Know," Law360, February 1, 2022
• Co-author, "Rolling Up Reclamation Rights," DLA Piper, December 17, 2018

• "Bankruptcy Court To NYC Office Tower Owner: 'Get Moving'," Law360, March 24, 2022
• "Ex-Weinstein Chair Says Hearsay Used In Ch. 11 'Scream' Row," Law360, August 5, 2021
• "Spyglass Fires Back At Weinstein Brother's Demand For Pay," Law360, July 23, 2021
• "'Silver Linings' team loses appeal over pay following Weinstein bankruptcy," Reuters, May 21, 2021
• "NY Sports Clubs Gets Judge's OK For $80M Sale In Ch. 11," Law360, November 3, 2020
• "Promise Healthcare Ch. 11 Plan Confirmed After Lengthy Talks," Law360, September 17, 2020
• "Weinstein Film Rights Buyer Spared Paying Pre-Ch. 11 Profits," Law360, March 20, 2020
• "Coronavirus-Disrupted Drug Firm's $12M Ch. 11 Loan Gets OK," Law360, March 12, 2020
• "Celadon Lands $14.5M Stalking Horse Deal For Trucking Co.," Law360, January 17, 2020
• "Promise Healthcare's $90M Ch. 11 Hospital Sales OK'd," Law360, February 26, 2019