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Gus Kallergis

Partner | Bankruptcy & Restructuring

Overview

Gus is a Partner in WH Burkley’s Bankruptcy & Restructuring and Corporate Groups.

For more than 25 years, Gus has helped clients navigate through distress and insolvency-related situations and developed a reputation as a pragmatic and deal-oriented problem solver.  He focuses his practice on business bankruptcies and restructurings, commercial and creditors’ rights, workouts, distressed sales and acquisitions, receiverships, and other insolvency-related matters. He has a well-rounded practice having represented borrowers, debtors, directors, creditors, equity holders, buyers and sellers of assets and businesses, secured lenders, ad hoc bondholder committees, official creditors’ committees, Chapter 7 trustees, receivers, lessors, lessees, franchisors, franchisees and other parties in commercial, distressed or insolvency-related transactions and litigation both inside and outside of bankruptcy.

A significant portion of Gus’s practice is devoted to representing buyers of debt, assets and business in distressed situations. Gus also represents lenders in DIP financing, workouts, loan sales, debt to equity conversion strategies, and collateral dispositions through Article 9 of the Uniform Commercial Code, bankruptcy, and receivership.

In addition to his insolvency-related experience, Gus also regularly represents borrowers and lenders in traditional commercial finance transactions, counsels clients with Uniform Commercial Code issues and disputes, and represents both buyers and sellers in traditional business transactions and loan sales.

Experience

  • Served as counsel and corporate special counsel for numerous debtors in chapter 11 cases across the country, including Arrakis, Staffing 360 Solutions, The Chardon Rubber Company, Concord Steel, Specialty Products Holding Corporation and its affiliated debtors, Oglebay Norton Company, Dana Corporation, Burlington Industries, USG Corporation and its affiliates, Levitz Furniture, NexPak Corporation, and National Century Financial Enterprises.
  • Acted as counsel for the borrower, a multinational manufacturing holding company with $5+ billion in annual revenue, in refinancing and upsizing its syndicated multi-currency revolving credit and term loan facilities and the implementation of an interest rate hedge for the term loan facility.
  • Retained by the former CFO and CCO of a public company crypto-asset broker to represent the client against claims asserted by the Plan Administrator of the company’s Wind-Down Debtor and certain other class action plaintiffs, which include breach of fiduciary duty claims.
  • Represented the former owner and principals in a litigation dispute against a global supplier and manufacturing company and its current equity owners. The former owner and current directors of the company (the client) were involved in contentious litigation with the company and its current owner and other directors relating to numerous claims that arose and became a financial strain on and threatened the ongoing operations of the company. Gus worked with the company’s financial advisor to mediate and negotiate a settlement between the litigants that resolved lawsuits in both state courts, averted foreclosure by the secured lender, and avoided bankruptcy or shutdown of the company. Subsequently represented the former owner in the purchase of the assets of the business in a receivership auction and sale one year later.
  • Represented a company operating in the home remodeling and repair business and assisted in obtaining distressed financing, the sale of an unprofitable subsidiary/business line, and defending the claim of an investment banker seeking a success fee for an alleged restructuring.
  • Represented a publicly-traded Western European multinational corporation and its subsidiaries in insolvency-related matters throughout the United States. Recently, he represented various client companies in the wind-down and liquidation of a joint venture in two U.S. states. The cross-border, international matter involves the wind-down of a corporation in one state, a secured lender located in another state, and a European purchaser through a secured party sale.
  • Developed a strategy and playbook for responding to customer distress and potential insolvency for a publicly-traded, Fortune 1000, global manufacturing client’s in-house counsel to develop materials to assist in-house credit personnel in responding to non-performing customers.
  • Represented a gaming company client and its subsidiaries in a variety of legal matters, including creditors’ rights and insolvency matters throughout the country. Most recently, he represented a subsidiary company in its efforts to terminate its obligations to an insolvent corporation, respond to asserted violations of the automatic stay, and prepare a claim for prosecution.
  • Counseled one of the largest building material installers in the U.S. and its subsidiaries in its insolvency-related customer and contract matters throughout the country.
  • Regularly represented private equity firms, addressing the insolvency-related issues that their portfolio companies encounter.
  • Served as general corporate counsel to a privately owned company in the domestic and international retail and food service industries, including providing general representation as a creditor or contract party in bankruptcy cases and other insolvency matters throughout the country when necessary (e.g., defending preference cases, executory contract, and claims issues).

Recognition

  • Chambers – Bankruptcy/Restructuring (Ohio) | 2014-2016, 2019-present
  • Legal 500 – Finance & Restructuring (Ohio Elite) | 2025-present
  • Best Lawyers – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law | 2016-present
  • Best Lawyers – Litigation – Bankruptcy | 2016-present
  • Super Lawyers – Bankruptcy: Business (Ohio) | 2017-present

Associations

  • American Bankruptcy Institute | Member
  • Turnaround Management Association | Past President and Current Board Member of Northern Ohio Chapter
  • Association for Corporate Growth (ACG) Cleveland | Member
  • Cleveland Metropolitan Bar Association | Member
  • Saints Constantine and Helen Greek Orthodox Cathedral | President and Parish Council Member
  • Cleveland AHEPA Scholarship Fund | Trustee
  • Shaker Youth Hockey Association | Past President and Board Member
  • Shaker Heights Country Club | Board Member, 2018-2020

Education

  • University of Notre Dame Law School, J.D.
    • magna cum laude
    • Articles Editor, Notre Dame Law Review
  • Yale University, B.A.