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Gus focuses primarily on corporate restructuring, commercial and creditors’ rights, workouts, distressed sales and acquisitions and other insolvency-related matters. He has experience representing borrowers, debtors, directors, creditors, buyers of assets and businesses, secured lenders, ad hoc bondholder committees, official creditors’ committees, Chapter 7 trustees, lessors, lessees and other parties in commercial, distressed or insolvency-related transactions and litigation both inside and outside of bankruptcy.

Gus regularly represents lenders in DIP financing, workouts, loan sales, debt to equity conversion strategies, and collateral dispositions through U.C.C. Article 9 (secured party sales/friendly foreclosure), bankruptcy and receivership.

Gus also has extensive experience representing borrowers and lenders in commercial finance matters and also counseling clients with Uniform Commercial Code issues and controversies.

A substantial portion of Gus’ practice is devoted to representing buyers interested in acquiring assets out of bankruptcy, receivership and other distressed situations, including secured party sales.

For six years, Gus has been recognized by Chambers USA for Bankruptcy/Restructuring, most recently in Band 3 in Ohio (2023). Chambers USA researchers commented, "Gus wins praise for his bankruptcy practice. He routinely advises on insolvency cases and is particularly noted for his representation of creditors." Clients interviewed by Chambers USA remarked, "Gus is responsive, creative, and practical. I have found him reasonable and fair while looking out for his client's interest. He is very creative in his approach and easy to work with. He's a terrific lawyer. Gus is very skilled at getting complicated deals done. He finds creative solutions, which are acceptable to all parties. Gus is a very smart and knowledgeable bankruptcy lawyer. He has terrific experience; his greatest strength is that he gives very practical advice. He is able to cut through the noise of a difficult matter and lead to a successful solution. Gus did a fantastic job of breaking down jurisdictional differences and guiding us through the process. Gus is insightful and really experienced in his field. He cares about the client's interests and always thinks ahead for the client's needs."

He has been selected for inclusion in The Best Lawyers in America® (2016-2024) in the areas of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law as well as Litigation - Bankruptcy. Gus also has been selected for the Ohio Super Lawyers list (2017-2023).

Gus is a Director (2014 – present) and currently serves as President of the Northern Ohio Chapter of the Turnaround Management Association. He is a member of the Bankruptcy and Commercial Law Section of the Cleveland Metropolitan Bar Association, the American Bankruptcy Institute, and ACG Cleveland.

He serves on the Parish Council at Saints Constantine and Helen Greek Orthodox Cathedral. He is a trustee of the Cleveland AHEPA Scholarship Fund. Gus also serves on the board of the Shaker Youth Hockey Association (President 2019-2021).

Before joining Calfee in 2008, Gus was an Associate at Jones Day. He was elected a Partner in 2011 at Calfee.

Honors & Recognitions

  • Chambers USA, Bankruptcy/Restructuring, Band 3, Ohio (2014-2016, 2021-2023)
  • The Best Lawyers in America®, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation - Bankruptcy (2016-2024)
  • Ohio Super Lawyers, Bankruptcy: Business (2017-2023)


J.D., magna cum laude, University of Notre Dame Law School, Articles Editor, Notre Dame Law Review, 1999

B.A., Yale University, 1996

Professional & Community

Professional & Community

  • American Bankruptcy Institute, Member
  • Turnaround Management Association, 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, Parish Council
  • Cleveland AHEPA Scholarship Fund, Trustee
  • Shaker Youth Hockey Association, President and Board Member
  • Shaker Heights Country Club, Board Member (2018-2020)

Representative Clients

Representative Clients

Debtor and Distressed Company Representations

  • Counsel and corporate special counsel the debtors in Chapter 11 cases, including:
    • The Chardon Rubber Company
    • Concord Steel
    • Specialty Products Holding Corporation and affiliated debtors
    • Oglebay Norton Company
    • Dana Corporation
    • Burlington Industries
    • USG Corporation and its affiliates
    • Levitz Furniture (Levitz Home Furnishings and PLVTZ)
    • NexPak Corporation
    • National Century Financial Enterprises
  • Counsel for Norwalk Furniture Corporation, a distressed sale through the establishment of a trust mortgage to a community group saving the production factory and jobs.
  • Counsel in the orderly winddown and liquidation of multi-location motorcycle dealerships.
  • Counsel in distressed sale of metal products manufacturer.
  • Counsel to many boards of directors and managers on exercise of fiduciary duties in the vicinity of insolvency.

Creditors’ Committee Counsel

  • Counsel to the Official Committee of Unsecured Creditors in Chapter 11 cases, including:
    • Micro-Heat, Inc.
    • B&C Machine Co., LLC
    • Flower Factory and affiliated Debtors
    • Stambaugh Hardware.

Trustee/Receiver/Examiner Counsel

  • Counsel to Chapter 7 Trustee of The V Companies.
  • Counsel to Receiver of 2265 Enterprise East LLC.

DIP and Other Lender Representations

  • Counsel to Triangle Capital Corporation, DIP lender and purchaser of assets, in the Chapter 11 case of Buckingham SRC, Inc.
  • Counsel to EATON-Vehicle Group, the largest customer and provider of critical customer DIP financing, in the Chapter 11 case of General Products Corporation.
  • Counsel to lender of fitness chain in loan sale in debt for equity transaction.
  • Counsel to lenders in sale of numerous distressed credits.
  • Counsel to lender in Chapter 11 case of borrower’s parent/guarantor, including sale of debt to judgment creditor of parent/guarantor.
  • Counsel to lender in secured party sale transactions disposing all assets of borrowers.
  • Counsel to numerous lenders in traditional financing transactions.

Buyers or Investors of Distressed Businesses or Assets

  • Counsel to Orwell Natural Gas, the largest customer of Orwell Trumbull Pipeline, which purchased the pipeline assets in state receivership action.
  • Counsel to Delaware Dynamics LLC, purchaser of the assets of Delaware Machinery & Tool Company, Inc., in an Indiana state receivership action.

Other Restructuring and Insolvency Representations of Note

  • Counsel to Hong Kong-based vendor of Sears Roebuck and Kmart Stores in the Chapter 11 cases of Sears Holding Corporation and affiliated debtors, asserting claims of administrative expense priority and appealing bankruptcy court decision prejudicial to foreign vendors.
  • Counsel to various private equity firms in the restructuring of their distressed portfolio companies.
  • Counsel for The Benjamin P. Forbes Company, a cocoa supplier, successfully preventing the assignment of forward contracts in the Chapter 11 case of Transmar Commodity Group Ltd.
  • Counsel to outside board of directors of Inkstop, including in the Chapter 7 case.
  • Counsel to defendants in numerous avoidance actions.

News & Events




Licensed In

  • Ohio 

Court Admissions

  • U.S. District Court for the Northern District of Ohio
  • U.S. District Court for the Southern District of Ohio
  • U.S. District Court for the Eastern District of Michigan

"Gus is a very smart and knowledgeable bankruptcy lawyer. He has terrific experience; his greatest strength is that he gives very practical advice. He is able to cut through the noise of a difficult matter and lead to a successful solution."

Client quote from Chambers USA

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