Emil P. Khatchatourian

Emil Khatchatourian is a restructuring and bankruptcy senior counsel in the Chicago office of Foley & Lardner LLP. He represents debtors, secured and unsecured creditors, purchasers of assets, investors, and other stakeholders in a broad range of restructuring matters, including chapter 11 cases, out-of-court workouts, acquisitions, and liquidations.

Emil regularly advises and develops strategies for debtor and creditor clients in distressed-debt situations and default scenarios and has handled bankruptcy and restructuring matters for clients in industries as varied as manufacturing, energy, healthcare, pharmaceuticals, agriculture, and retail.

Representative Matters*

Chapter 11 Debtor Representations

• Hooper Holmes, Inc., a publicly traded health and wellness company
• Stone Energy Corporation, a publicly traded and independent oil and natural gas exploration and production company
• Universal Cooperatives, Inc., an agricultural cooperative based in Minnesota

Lender Representations

• Antares Capital in connection with numerous out-of-court workout transactions
• Bank of Montreal, as administrative and collateral agent, in an out-of-court restructuring and assignment for the benefit of creditors
• Second lien lender group led by NXT Capital and Ironwood Capital in an out-of-court restructuring
• Third lien lender group in the 2016 chapter 11 cases of Halcón Resources

*Includes matters handled prior to joining Foley.

Education

Emil earned his law degree from Loyola Law School, Los Angeles (J.D., 2009) and an advanced degree in bankruptcy law from St. John’s University School of Law (LL.M., 2013). He received his bachelor’s degree in cognitive science from the University of California, Los Angeles (B.S., magna cum laude, 2004), where he graduated with departmental highest honors and was elected to Phi Beta Kappa.

Clerkships

Prior to joining Foley, Emil clerked for the Honorable Christopher M. Klein and the Honorable Robert S. Bardwil at the United States Bankruptcy Court for the Eastern District of California.

Recognition

Emil has been selected for inclusion on the Illinois Rising Stars® list every year since 2016 for his bankruptcy work.*

*The Illinois Supreme Court does not recognize certifications of specialties in the practice of law and no award or recognition is a requirement to practice law in Illinois.

Admissions

Emil is admitted to practice in California and Illinois.

Professional Memberships

He is a member of the American Bankruptcy Institute and the Chicago Bar Association. He is also a member of the Lawyers Club of Chicago and currently serves on its board of directors.

Publications

• “Bankruptcy Needs to Get Its Priorities Straight: A Proposal for Limiting the Leverage of Unsecured Creditors’ Committees When Unsecured Creditors Are “Out-of-the-Money,” American Bankruptcy Institute Law Review, Winter 2018 (co-author)
• “Unpaid ERISA Contributions and Fiduciary Liability under § 523(a)(4),” American Bankruptcy Institute Journal, November 2013 (co-author) (cited in Herbert v. Hesse (In re Hesse), 516 B.R. 491 (Bankr. S.D. Ohio 2014))

Languages

• Emil is proficient in Armenian and conversant in French.