Matthew Sarna

Associate

About

Matthew Sarna focuses his practice on corporate restructuring and bankruptcy. Matthew has assisted in advising a variety of clients in complex business reorganizations and insolvency matters.

Areas of FocusCorporate Finance Restructuring

Bar admissionsDelawareMaryland

CourtsUnited States District Court for the District of DelawareUnited States District Court for the District of Maryland

EXPERIENCE

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.

Education

J.D., University of Maryland School of Law 2017

cum laude

Executive Technology Editor, Journal of Business and Technology Law

B.S., Supply Chain Management and Marketing, University of Maryland 2014

Awards

Subchapter V Restructuring of the Year, Global M&A Network (2024)
Selected as Winning Deal Team – 2021 Turnaround/Transaction of the Year – Small Company, Turnaround Management Association
Recipient of "20/20 Partners Rising Young Leader Award," American Bar Association Business Bankruptcy Committee, September 2021
Selected as Winning Deal Team – 2021 Cross-border Turnaround Deal of the Year, Global M&A Network

Publications