Carl T. Tullson

Carl T. Tullson

Partner, Corporate Restructuring

Carl Tullson represents clients in complex debt restructurings, troubled company mergers and acquisitions, and financing transactions.


Mr. Tullson was recognized in Chambers USA 2022, as well as an Outstanding Young Restructuring Lawyer in 2021 by Turnarounds & Workouts and previously as an Emerging Leader by The M&A Advisor. His practice spans a variety of industries, and he has played a principal role representing sophisticated corporate debtors, purchasers and investors in complex restructuring cases and transactions.

Mr. Tullson’s company-side representations of note include:

  • Atlas Resource Partners, L.P. in the first prepackaged restructuring of a publicly traded master limited partnership, a 30-day prepack that was recognized by Turnarounds & Workouts magazine as one of the 12 most successful restructurings for 2016;
  • Concordia International, an international pharmaceutical company, in a first-of-its-kind dual solicitation CBCA-Chapter 11 restructuring of over $3.7 billion of debt;
  • Danaos Corporation, an international containership company, in connection with its out-of-court restructuring of over $2.2 billion in secured debt obligations. This transaction received the Turnaround Management Association’s 2019 Large Company Turnaround of the Year award and was recognized by Turnarounds & Workouts magazine as one of the most successful restructurings of 2018;
  • tier-one auto supplier Delphi Corporation in connection with the restructuring of more than $22 billion in liabilities;
  • Highline Management, Inc. in connection with the out-of-court sale of 30 car dealerships to Group 1 Automotive, a transaction that was recognized by Turnaround & Workouts magazine as one of the most successful restructurings of 2021;
  • Mark IV Industries, Inc./Dayco Products in its bankruptcy reorganization and restructuring;
  • Melinta Therapeutics, Inc. in its Chapter 11 reorganization in the Bankruptcy Court for the District of Delaware;
  • MF Global, a leading broker-dealer in markets for commodities, fixed income securities, equities and foreign exchange, in its Chapter 11 bankruptcy in the Bankruptcy Court for the Southern District of New York;
  • a publicly traded natural gas utility in connection with liability management regarding the “Texas Freeze” winter storm;
  • Noble Corporation plc, an international offshore drilling contractor, in its Chapter 11 case in the Bankruptcy Court for the Southern District of Texas;
  • an international owner and/or operator of one of the world’s largest fleets of medium- and long-range product tankers in its ongoing restructuring efforts;
  • Titan Energy, LLC in its out-of-court restructuring;
  • Triumph Group (Vought Aircraft Industries) in an out-of-court restructuring;
  • United Natural Foods in its acquisition of SUPERVALU for $2.9 billion; and
  • various skilled nursing, assisted living and long-term care facility managers and operators in both in- and out-of-court restructuring matters; and
  • WeWork in an $8 billion transaction in which SoftBank provided financing to the company and acquired a majority of its outstanding shares through a tender offer. This transaction was recognized by Turnarounds & Workouts magazine as one of the most successful restructurings of 2019.

Mr. Tullson’s stakeholder representations include:

  • the official committee of unsecured creditors in American Airlines’ bankruptcy, a transaction that received the Turnaround Manage­ment Association Chicago/Midwest Chapter’s Large Transaction of the Year award and was recognized in the Corporate & Commercial category in the Financial Times’ U.S. Innovative Lawyers report;
  • APTIM Corporation, a Veritas Capital portfolio company, in connection with a contested credit bid acquisition of substantially all of the assets of Juniper Specialty Products;
  • Bank of America, N.A. and Deutsche Bank AG in connection with a $1.25 billion credit facility for the Algeco Scotsman Group;
  • Black Diamond Capital Management, L.L.C. in multiple transactions, including:
    • securing approval from the Bankruptcy Court for the Southern District of New York of a first-of-its-kind full-credit-bid sale of Empire Generating to an entity controlled by Black Diamond and confirmation of a related “no impairment” plan of reorganization over the objection of certain minority lenders; and
    • as lender to and potential purchaser of SpeedCast International Ltd. in its Chapter 11 cases in the Bankruptcy Court for the Southern District of Texas. Following a hotly contested plan process, the court halted the confirmation hearing and reopened the auction to provide Black Diamond with an opportunity to bid, ultimately resulting in a favorable settlement for Black Diamond;
  • BlackRock in Lehman Brothers’ bankruptcy case;
  • CD&R in connection with the restructuring of CHC Group Ltd., a global helicopter service provider to offshore oil field producers;
  • DuPont in connection with disputes relating to its spin-off of Chemours;
  • GIC and OMERS in multiple matters relating to their minority investment in Oncor Electric Delivery Company;
  • Health Evolution Partners and affiliates in connection with the Chapter 11 bankruptcy of its portfolio company MacKeyser Holdings, LLC, including with respect to originating a debtor-in-possession loan;
  • Hermitage Management LLC and PPM America, Inc. in the acquisition of Spanish Trail Country Club Inc. via a credit bid, as part of Spanish Trail’s Chapter 11 case;
  • LUX Oil & Gas International S.à.r.L., as majority shareholder, in connection with the in-court restructuring of Constellation Oil Services Holding;
  • Norwest Equity Partners in its acquisition of the Clover Imaging business unit from 4L Holdings Group;
  • Patriarch Partners in connection with multiple matters, including the restructuring of Dura Automotive;
  • SeeCubic, Inc. in connection with obtaining the dismissal “for cause” of Stream TV Networks, Inc.’s Chapter 11 filing in the Bankruptcy Court for the District of Delaware;
  • Silver Point Capital, L.P. in connection with multiple matters, including its secured loan to and proposed acquisition of the Standard Register Company;
  • a shortlisted consortium in the bankruptcy-related auction for the Indiana Toll Road concessionaire;
  • the U.S. Department of Transportation, as lender under the Transportation Infrastructure Finance and Innovation Act program, in connection with loan and loan restructuring transactions for transportation public-private partnerships and related transportation infrastructure; and
  • Veritas Capital in connection with multiple matters.

Mr. Tullson also has advised on numerous traditional Chapter 11 cases for U.S. and international companies, debtholders, and equity sponsors. In addition, Mr. Tullson has experience advising on state court receivership and dissolution proceedings.

He also regularly advises directors and officers and senior management on fiduciary duties, corporate governance and indemnification agreement considerations.

Mr. Tullson frequently presents and writes on a variety of restructuring topics, including fiduciary duties of boards of directors, executive compensation in bankruptcy, mergers and acquisitions in distressed situations, pension and other post-employment benefit issues, distressed investing, intercreditor considerations, and the intersection of bankruptcy with labor and intellectual property issues. He is the co-author of the “2021 Insolvency Global Practice Guide,” published by Chambers, which covers the restructuring and insolvency regimes in 49 jurisdictions.

Mr. Tullson serves on Skadden’s Legal Opinions and Attorney Development committees.



  • J.D., Ohio State University College of Law, 2007
  • B.A., Wheaton College, 2004


  • Delaware
  • Illinois
  • U.S. Court of Appeals for the Second and Seventh Circuits
  • U.S. Supreme Court


  • Member, Turnaround Management Association
  • Member, American Bankruptcy Institute

Carl T. Tullson

Partner, Corporate Restructuring