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Introduction
Victor G. Milione is a partner with Nixon Peabody LLP and serves as a member of the firm’s Litigation, Real Estate and Business Departments. Additionally, he is a member of the firm’s Distressed Health Care, Distressed Energy, Distressed Retail, Distressed M&A, Blockchain Technology and Cannabis teams.
Mr. Milione has over thirty years of experience representing purchasers of assets from distressed companies, financial institutions, debtors, trustees, creditors’ committees, hedge funds, loan servicers, collateral agents, indenture trustees and other interested parties in out-of-court workouts, insolvency and bankruptcy proceedings throughout the country and internationally, including bankruptcy reorganizations, asset sales, loan restructurings, modifications and forbearance agreements, receiverships, assignments for the benefit of creditors and commercial loan transactions. He also works with private equity, hedge and venture funds to structure bridge financings and to create innovative solutions to the difficulties of troubled portfolio companies.
My focus
My practice focuses on representing acquirers of assets from distressed companies in various industries. I have represented various private equity and hedge funds in the acquisition of distressed assets from companies such as the acquisition of Fleetwood Motor Home out of the Fleetwood bankruptcy (CA), the sale and disposition of the New Care Health Corp. (MA) (a publicly traded health care provider with facilities throughout the country), the restructuring and reorganization of the Regina restaurant chain (DE) and representation of acquirers and sellers of assets in various other industries such as paper, energy, food and beverage, health care and retail. My work as lead counsel to numerous creditor committees including counsel to the Unsecured Creditor’s Committees in national cases such as Stairmaster, Inc. (WA) and Great Northern Paper (ME) and as counsel to committee chairs and committee members in Genuity (NY) and Metiom (NY). I currently represent various parties in the Tribune (DE) and the F-Squared (DE) bankruptcy cases.
Administrative agents and members of syndicated loan participants turn to me for drafting and negotiating forbearance agreements, loan modification agreements and lending facilities (debtor-in-possession and otherwise). To date I have led deals involving in excess of $2 billion dollars. I continue to work as insolvency counsel crafting and issuing true sale and non-consolidation opinions in complex and varied deals totaling in excess of $1 billion dollars, including Tenant-In-Common (TIC) tax deferred exchanges offerings.
My practice also includes counseling clients regarding asset-based lending as well as real estate lending, workouts and foreclosures. In this capacity I work with other firm attorneys to provide specialty lending advice in precious metal consignments having worked as counsel to consignors, consignees and lenders in connection with the structuring, negotiation, workout and enforcement of consignment loans. I led significant representations in the bankruptcy cases of Sports Authority (DE), Total Hockey (MO), City Sports (DE), Summit Corporation of America (CT), Handy & Harmon (CT) and Amax Plating Inc. (IL).
Looking ahead
We will see an increase in health care and energy restructurings in the next several months given the focused governmental effort to curtail the Affordable Care Act and various alternative energy initiatives.
Additionally, retail and shopping mall restructurings will also increase due to increasing bond and loan defaults due to monetary policy and paradigm shifts resulting from online retailing. Finally, for the foreseeable future, we will continue to see the continued acquisition of distressed assets through bankruptcy sales given the utility of bankruptcy sale orders in insulating against legacy liabilities.
In the news
- Laconia Daily Sun (N.H.)
Auction Set for LRGHealthcare's Assets
This article covers an upcoming auction of LRGHealthcare’s assets as part of the nonprofit hospital operator’s Chapter 11 bankruptcy case, noting an initial $30 million bid from Concord Hospital. Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, are representing LRGHealthcare, and the auction is scheduled for Dec. 16 at NP’s Manchester office.Nov 6, 2020 - Business NH magazine
LRGHealthcare Files for Bankruptcy, Concord Hospital May Acquire
The following article covers nonprofit hospital operator LRGHealthcare’s Chapter 11 bankruptcy filing as it seeks a buyer, mention Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, for representing LRGHealthcare.Oct 20, 2020 - Reuters Legal
New Hampshire Hospital Group Seeks Bankruptcy Relief
The following article covers nonprofit hospital operator LRGHealthcare’s Chapter 11 bankruptcy filing as it seeks a buyer, mention Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, for representing LRGHealthcare.Oct 19, 2020 - The Deal
LRGHealthcare to Sell Assets in Ch. 11
The following article, covers nonprofit hospital operator LRGHealthcare’s Chapter 11 bankruptcy filing as it seeks a buyer, mention Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, for representing LRGHealthcare.Oct 19, 2020 - Journal of Bankruptcy Law
CARES Act Expands Restructuring Options for Small Businesses
Financial Restructuring & Bankruptcy practice group leader Victor Milione, partner Rick Pedone (both in Boston), and associate Christopher Fong (in New York City), contributed this article on the key changes made to the Small Business Reorganization Act that small businesses and lenders must understand.July 14, 2020 - Law360
Fight over releases stalls Level Solar's Ch. 11 hearing
This article mentions Financial Restructuring and Bankruptcy partner Victor Milione in Boston and associate Chris Fong in New York City, who are representing two funds created by Level Solar as part of the shuttered company’s Chapter 11 plan.March 3, 2020 - Law360
Nonprofits in the Zone of Insolvency: 2 Cautionary Tales
New York City financial restructuring and bankruptcy counsel Chris Desiderio, Washington, DC, M&A and Corporate Transactions partner Mike Cooney, and associate Rob Trott and Boston partner and leader of the firm’s Bankruptcy & Financial Restructuring practice Victor Milione coauthored this column on important issues charitable fiduciaries should educate themselves on to avoid insolvency.May 19, 2015
Admitted to practice
New York
U.S. District Court, District of Massachusetts
U.S. Supreme Court
U.S. Court of Appeals, First Circuit
U.S. Court of Appeals, Second Circuit
Massachusetts
U.S. District Court, Eastern District of New York
U.S. District Court, Northern District of New York
U.S. District Court, Southern District of New York
U.S. District Court, Western District of New York
Education
Suffolk University Law School, J.D.
University of Connecticut, B.S.
Professional activities
Victor is also actively engaged in charitable and community organizations. He has served as a prior past president and current board member of the Newton Schools Foundation. He is also a trustee for Hebrew Senior Life, Boston, MA, and volunteers his time on behalf of the United Way, the YMCA, and the Dana Farber Cancer Institute.
He is a member of the American, Massachusetts, and Boston bar associations, the American Trial Lawyers Association, the American Bankruptcy Institute, and the Risk Management Association.
Recognition
Victor was selected, through a peer-review survey, for inclusion in The Best Lawyers in America® 2024 in the field of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation—Bankruptcy. Victor has been listed in Best Lawyers since 2016.
Victor has been consistently ranked as one of the top 25 bankruptcy lawyers in the country by The Deal. He has also been recognized as a “Super Lawyer” in Bankruptcy & Creditor/Debtor Rights based on a peer-review survey by Boston magazine.
Victor has been recognized for exceptional standing in the legal community in Chambers USA: America’s Leading Lawyers for Business 2023 for Bankruptcy/Restructuring (Massachusetts). He has also been recognized in Chambers in previous years.
Victor has also received an AV Preeminent® Peer Review Rating™ from Martindale Hubbell®, the highest possible rating for ethics and legal ability.
Insights And Happenings
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