Bryan V. Uelk

Primary Focus & Experience

Mr. Uelk represents companies, creditors, distressed purchasers, and other key stakeholders in all aspects of corporate restructuring, bankruptcy, and financial distress. He has substantial experience guiding clients to value-additive results in out-of-court and in-court restructurings, including numerous chapter 11 reorganizations across the country.

Mr. Uelk’s experience includes serving as a JAG officer in the Air National Guard for several years, during which he advised commanders at both the Wing and Squadron level with various personnel actions and provided all types of legal assistance to Airmen and their families.

Mr. Uelk’s restructuring experience prior to joining Milbank includes:

• AutoMedx — Represented AutoMedx, LLC, a leading designer and manufacturer of medical ventilators, in its sale to affiliates of Water Street Healthcare Partners.
• Alpha Media Holdings LLC — Representing Alpha Media Holdings LLC and 15 of its subsidiaries in their prearranged chapter 11 cases in the United States Bankruptcy Court for the Eastern District of Virginia. Alpha Media is the largest privately-held radio broadcast and multimedia company in the United States, which owns or operates more than 200 radio stations that provide local news, sports, music, and entertainment to a weekly audience of more than 11 million listeners in 44 communities across the United States. Alpha Media’s prearranged chapter 11 cases were confirmed in just over 60 days and contemplated transactions that eliminated all of the Debtors’ prepetition funded debt obligations and provided the debtors with more than $120 million of exit financing.
• Neiman Marcus Group — Represented the liquidating trustee, in the US Bankruptcy Court of the Southern District of Texas, in the resolution of over 2,800 general unsecured claims in accordance with the debtors’ chapter 11 plan of reorganization.
• Hilton Franchise Holding — Represented Hilton Franchise Holding in connection with the chapter 11 case of one of its franchisees in the United States Bankruptcy Court for the District of Colorado.
• Aegean Marine Petroleum Network Inc. — Represented Aegean Marine Petroleum Network Inc. and certain subsidiaries (“Aegean”), a leading international marine fuel logistics company with approximately $900 million of funded indebtedness, in their Chapter 11 cases filed in the United States Bankruptcy Court for the Southern District of New York. Aegean operates in more than 20 countries worldwide with headquarters in Athens, Greece and a corporate office in New York, New York.
• Sizmek Inc. — Represented Sizmek Inc. and its affiliates, a leading online advertising campaign management and distribution platform for advertisers, media agencies, and publishers, in its out-of-court, balance-sheet restructuring of more than $150 million of funded indebtedness.
• Transworld Systems Inc. — Represented an ad hoc committee of second lien bondholders in connection with Transworld Systems Inc.’s out-of-court restructuring of more than $500 million of funded debt obligations. Transworld is a national provider of accounts receivable management, debt collection, and loan servicing solutions. The restructuring was implemented as a simultaneous exchange offer, rights offering, and prepackaged plan solicitation, and ultimately obtained the support of 99% of second lien bondholders, reduced Transworld’s debt by more than $460 million, and raised $40 million of new equity capital.
• Think Finance, LLC — Represented Victory Park Capital and certain of its affiliates in connection with Think Finance’s Chapter 11 cases in the United States Bankruptcy Court for the Northern District of Texas. Think Finance is a leading provider of financial technology services. Técnicas Marítimas Avanzadas, S.A. de C.V. — Represented Técnicas Marítimas Avanzadas, S.A. de C.V., a maritime logistics services company based in Monterrey, Mexico, and certain of its affiliates (collectively, “TMA”), in a successful out-of-court restructuring that deleveraged TMA’s balance sheet and provided TMA with critical liquidity.
• Seadrill Limited — Represented Seadrill Limited and certain of its direct and indirect subsidiaries in their multi-jurisdictional restructuring of approximately $20 billion of contract and debt obligations. Seadrill is a leading global provider of offshore contract drilling services and employs nearly 4,000 individuals across 22 countries and five continents. Seadrill's pre-arranged Chapter 11 cases, one of the largest filings in 2017 based on asset size, resulted in the re-profiling of approximately $6 billion of secured debt, eliminated approximately $3.5 billion of unsecured bond and contractual obligations, and facilitated a capital investment of more than $1 billion.
• Linn Energy, LLC — Represented Linn Energy, LLC and its affiliates in its Chapter 11 cases fled in the United States Bankruptcy Court for the Southern District of Texas. Linn is a leading independent oil and natural gas exploration and production company with operations in 12 states and eight discrete US regions.
• Quintana Energy Services, LP — Represented a provider of oilfield services in the oil and gas industry, in connection with its out-of-court recapitalization consisting of $40 million second lien term loan provided by investors and the restructuring of its revolving credit facility agented by Amegy Bank.

Recognition & Accomplishments

Mr. Uelk was a featured panelist on the topic Revisiting Bad-Faith Filings: Exiting Chapter 11 at the American Bankruptcy Institute New York City Bankruptcy Conference of June 2022. In 2022, Mr. Uelk was recognized with the Emerging Leader Award by Turnaround Management Association’s Chicago/ Midwest Chapter. He was previously awarded the ‘Large Company Turnaround of the Year Award’ for service as lead restructuring counsel to Alpha Media by Turnaround Management Association’s Chicago/ Midwest Chapter in 2021.

Mr. Uelk has authored and co-authored various articles, including

• “Addressing Perceived Abuses of Chapter 11: An 18-Month Legislative Scorecard”, American Bankruptcy Institute Journal, July 2022
• “Preparing PE Sponsors and Private Credit Lenders for a Potential Bankruptcy Wave”, Middle Market Growth, July 21, 2022
• “When the Other Shoe Drops: Drivers of the Next Restructuring Cycle”, American Bankruptcy Journal, December 30, 2021