Thomas Kessler Named an ‘Outstanding Young Restructuring Lawyer’ by Turnarounds & Workouts

Cleary Gottlieb partner Thomas Kessler has been named an “Outstanding Young Restructuring Lawyer” for 2025 by Turnarounds & Workouts.

Tom is among only 12 lawyers nationwide under the age of 40 recognized for their work in some of the most significant bankruptcies and restructurings from the past year.

Tom’s recent work has included representing:

• Helped developed an innovative Chapter 11 plan for Genesis Global Capital LLC, enabling in-kind cryptocurrency returns to creditors, unlike typical crypto bankruptcies that dollarize claims at petition date values, facilitating over $4 billion in recoveries by leveraging crypto price surges (e.g., Bitcoin tripled since January 2023).
• Negotiated a landmark settlement with the New York Attorney General, resolving a $3 billion Martin Act fraud lawsuit by subordinating NYAG’s claim and redirecting recoveries to creditors via a victims’ fund.
• Successfully defended against Digital Currency Group’s Plan objections, securing creditor recoveries of ~77% for crypto claims and 100% for dollar claims.
• Led the Federal Reserve Bank of San Francisco’s litigation against Benworth Capital Partners LLC, a PPPLF borrower with $4.3 billion in credit advances.
• Serves as Coinbase’s principal bankruptcy/restructuring counsel in the various bankruptcies and distress situations arising from the “crypto winter,” including on the negotiation and documentation of a novel arrangement to facilitate distribution of digital assets to Celsius creditors; and defending Coinbase against claims brought by certain creditors who were not initially eligible to receive in-kind recovery, and helped to structure a settlement that resolved all parties’ objections.

To learn more about Tom’s recognition, click here (subscription required).