Malhar S. Pagay

Malhar Pagay is a business lawyer, resident in the firm’s Los Angeles office, whose practice focuses on the development and implementation of strategic alternatives for and against distressed businesses. He has substantial experience representing chapter 11 debtors, trustees, unsecured creditors, creditors’ committees, and other parties in the contexts of bankruptcy cases, adversary proceedings, commercial litigation, mediations, domestic and international business transactions, business reorganizations, and out-of-court corporate restructurings of debt. He has broad industry experience, including healthcare and life sciences, real estate, technology, retail, manufacturing, transportation, sports, and entertainment.

Malhar’s recent representations include reorganizing the Ruby Tuesday casual-dining chain with over 200 restaurants through a debt-for-equity transaction with its secured lenders, implemented through a chapter 11 plan confirmed after only four months in bankruptcy; counseling technology entrepreneur Yueting “YT” Jia, the founder of mobility ecosystem company Faraday Future, in the successful restructuring of over $3 billion in debt held almost entirely by creditors located in the People’s Republic of China (recognized at Global M&A Network’s 13th Annual Turnaround Atlas Awards as “Cross-Border Turnaround of the Year”); advising the creditors’ committee in connection with successful reorganization of Pacifica Hospital of the Valley; and completing the sale through section 363 of the United States Bankruptcy Code of a $100 million Class A commercial office property over the objections of co-owners in the contentious Namvar/Namco bankruptcy cases. Malhar has served as principal counsel to China Export & Credit Insurance Corporation (SINOSURE) and its Chinese policyholders and clients in complex United States insolvency matters.

Malhar has lectured both in the United States and internationally regarding a variety of legal issues, including artificial intelligence, mass-tort bankruptcy cases, and crossborder transactions and insolvencies. He has been named a “Super Lawyer” in the field of Bankruptcy & Creditor/Debtor Rights every year since 2009 in a peer survey conducted by Law & Politics and the publishers of Los Angeles Magazine, an honor bestowed on only 5% of Southern California attorneys, holds an AV Preeminent Peer Rating (Martindale-Hubbell‘s highest recognition for ethical standards and legal ability), has been listed among The Best Lawyers in America in the practice areas of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation - Bankruptcy, and was named to the 2023, 2024 and 2025 editions of the Lawdragon 500 Leading Global Bankruptcy & Restructuring Lawyers. Malhar is a graduate of Yale University and received his J.D. from the University of Southern California.

Clerkships

•Law clerk, Judge Erithe A. Smith (Bankr. C.D. Cal. 1994-96)

Programs & Lectures

“Practical Applications of AI,” ABI Winter Leadership Conference (2025);“The Use of Artificial Intelligence in Restructuring Practice,” International Women’s Insolvency & Restructuring Confederation, IWIRC on the Vine (2024); “Emerging Bankruptcy Issues-How to Apply Old Rules to New Technology (Artificial Intelligence),” ABI Rocky Mountain Bankruptcy Conference (2024); “Mass Tort Bankruptcy Update: From Asbestos to Abuse,” Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association (2023); “Fold and Live to Fold Again: Perspectives on Mass Torts,” 35th Annual California Bankruptcy Forum Insolvency Conference (2023); “Crossfire Panel on Divisive Mergers (the ‘Texas Two-Step’),” ABI Bankruptcy Battleground West (2023); “The Wrath of Stern,” ABI Southwest Bankruptcy Conference (2022); “Cross-Border Case Law Update,” ABI Cross-Border Insolvency Program (2021); “Current Trends and Issues in Chapter 11 Cases,” Conference of Chief Bankruptcy Judges of the Ninth Circuit (2019); “Restructuring Healthcare Entities in Bankruptcy: Unique Challenges and Benefits of Chapter 11,” Navigating Medicare, Medicaid, HIPAA, Overpayment Liability and More (Strafford 2017); “Cross-Border Update,” American Bankruptcy Institute Cross-Border Insolvency Program (2017); “A General Overview of Legal and Security Issues Arising From Employee Telecommuting,” National Golf Hardware Credit Exchange Conference (2017); “Restructuring the Healthcare Provider: Successfully Navigating the Reorganization Process,” ABA Health Law Section Washington Summit (2016); “Cross-Border Insolvency Proceedings,” Canadian Bar Association National Insolvency Conference (2016); “China’s New Normal: How Far, How Deep, and What Type of Impact?” AIRA Restructuring & Plan of Reorganization Conference (2015); “Outbound Activity: Chinese Participation in Western Restructurings and Insolvencies,” ABI/NYU School of Law (2015); “U.S. Bankruptcies-Risks for Chinese Exporters,” China Export & Credit Insurance Corporation and Sun Yat-sen University School of Business International Transactions Risk Forum (2015); “Help! My Producer (or Software Licensee or Actor) Just Went Bankrupt-Now What?” Beverly Hills Bar Association, Bankruptcy Law, Intellectual Property, Internet and New Media Sections (2012); “Setoff and Recoupment in Bankruptcy” and “Nuts and Bolts-Current Litigation Issues,” Bankruptcy and Collections From a Government Perspective Seminar, National Association of Attorneys General (NAAG), National Attorney General’s Training Institute (NAGTRI), States’ Association of Bankruptcy Attorneys (SABA) (2011); “Impact of Corporate Restructurings and Financial Distress on International Trade,” International Association of Young Lawyers (AIJA) International Trade & Transport Symposium (2011); “PRC Insolvency Law: The New PRC Bankruptcy Law, NPLS and Out-of-Court Workouts,” American Bankruptcy Institute Third Annual Hawaii Bankruptcy Workshop (2010); “2010 - A Year of Economic Transition in China and the United States: Risks and Opportunities for Chinese Companies,” Asian Legal Business In-House Summit (Beijing, China) (2009); “Recent Developments in Cross-Border Transactions,” INSOL International Association of Restructuring, Insolvency & Bankruptcy Professionals North American Regional Seminar (2008); “Dealing With a Failed International Construction Project: A Case Study,” Inter-Pacific Bar Association (IPBA) 18th Annual Conference (2008); “Economic Overview and Outlook - Downturn in the US to Burst the Bubble in China” (2008); “China as Top Creditor - The Evolving Opportunities for Chinese Companies to Invest Abroad” (2007), Association of Insolvency & Restructuring Advisors (AIRA) Restructuring and Investing Conference (Shanghai, China); “Bankruptcy/Insolvency - The Effects on Entertainment Industry Contracts,” Black Entertainment and Sports Lawyers Association (BESLA) 27th Annual Conference (Cancun, Mexico) (2007); “Issues 2006: America’s Best Lawyers” American Airlines/Forbes.com and SkyRadioNetwork.com (discussing impact of Bankruptcy Code amendments on business) (2006); Professor, Beijing Foreign Studies University School of Law (2012-2013)

Publications

•Sunbeam Products Inc. v. Chicago American Manufacturing LLC: New Hope for Licensees of Intellectual Property?
2012 INSOL International News Update (Oct. No. 10)
•Author, “Section 105(a) of the Bankruptcy Code,” 2007 Annual Survey of Bankruptcy Law 473 (West 2007); 2006 Annual Survey of Bankruptcy Law 415 (West 2006); 2005 Annual Survey of Bankruptcy Law 689 (West 2005)
•Author, “Improving The Odds of Repayment In Bankruptcy,” 51 Practical Lawyer 45 (August 2005)
•Author, “Section 105(a) of the Bankruptcy Code in 2002-2003 - Two Years of Continued Development,” 2004 Annual Survey of Bankruptcy Law 645 (West 2004)

News

Eighteen PSZJ Attorneys Named to the Lawdragon '500 Leading Global Bankruptcy & Restructuring Lawyers' Guide for 2025

Lawdragon June 27, 2025

PSZJ Attorneys Named in 2025 Edition of Best Lawyers in America and Best Lawyers: Ones to Watch

August 15, 2024

Eighteen PSZJ Attorneys Named to the Lawdragon 500 Leading Global Bankruptcy & Restructuring Lawyers for 2024

Lawdragon June 14, 2024

Nineteen PSZJ Attorneys Named to 2024 Southern California “Super Lawyers” List

January 10, 2024

PSZJ Attorneys Named in 2024 Edition of Best Lawyers in America

August 17, 2023

Eighteen PSZJ Attorneys Named to the Lawdragon 500 Leading Bankruptcy & Restructuring Lawyers for 2023

Lawdragon June 16, 2023

Eighteen PSZJ Attorneys Named to 2023 Southern California’s “Super Lawyers” List

January 1, 2023

PSZJ Attorneys Named in 2023 Edition of Best Lawyers in America

August 18, 2022

Seventeen PSZJ Attorneys Named to 2022 Southern California’s “Super Lawyers” List

January 20, 2022

Malhar Pagay Named Among Los Angeles Business Journal’s 2021 Leaders in Law Finalists for Bankruptcy Law

Los Angeles Business JournalNovember 1, 2021

Malhar Pagay Nominated for Los Angeles Business Journal’s Leaders in Law Awards

Los Angeles Business JournalOctober 1, 2021

PSZJ Attorneys Named in 2022 Edition of Best Lawyers in America

August 19, 2021

Nineteen PSZJ Attorneys Named 2021 Southern California “Super Lawyers”

January 1, 2021

PSZJ Attorneys Named in 2021 Edition of Best Lawyers in America

August 20, 2020

Twenty-One PSZJ Attorneys Named 2020 Southern California “Super Lawyers”

January 15, 2020

PSZJ Attorneys Named in Best Lawyers in America

August 15, 2019

Twenty-One PSZJ Attorneys Named 2019 Southern California “Super Lawyers”

January 30, 2019

PSZJ Attorneys Named in Best Lawyers in America

August 15, 2018

Twenty PSZJ Attorneys Named 2018 Southern California “Super Lawyers”

January 31, 2018

Thirty-Five PSZJ Attorneys Named Best Lawyers in America

August 15, 2017

Eighteen PSZJ Attorneys Named 2017 Southern California “Super Lawyers”

January 25, 2017

More Bad News for Suppliers to Companies That End Up in Bankruptcy

May 1, 2015

Gordian Medical Confirms Chapter 11 Plan

May 1, 2015

The U.S. Supreme Court’s Decision in Bullard v. Blue Hills Bank: “It ain’t over till it’s over”

May 6, 2015

Thirteen PSZJ Attorneys Selected as Southern California Super Lawyers

Los Angeles magazineFebruary 1, 2015

Ten Southern California Super Lawyers at Pachulski Stang

Los Angeles magazineFebruary 1, 2014

Eight Southern California Super Lawyers at Pachulski Stang

Los Angeles magazineJanuary 1, 2013

Events

Practical Applications of AI

ABI Winter Leadership Conference Tucson, AZ
November 14, 2025

Emerging Bankruptcy Issues

American Bankruptcy Institute Rocky Mountain Bankruptcy Conference Vail CO
June 13, 2024

Fold and Live to Fold Again: Perspectives on Mass Torts

Thirty-Fifth Annual California Bankruptcy Forum Insolvency Conference La Quinta CA
May 19, 2023

Mass Tort Bankruptcies Update: From Asbestos to Abuse

Commercial Law and Bankruptcy Section of the Los Angeles County Bar Association Zoom Webinar
April 18, 2023

Crossfire Panel on Divisive Mergers (the 'Texas Two-Step')

Bankruptcy Battleground West Beverly Hills CA
March 27, 2023

The Wrath of Stern

American Bankruptcy Institute Southwest Bankruptcy Conference Las Vegas
September 9, 2022

Cross-Border Case Law Update

ABI Cross-Border Insolvency Program Virtual
November 18, 2021

Current Trends and Issues in Chapter 11 Cases

Conference of Chief Bankruptcy Judges of the Ninth Circuit Portland OR
March 18, 2019

Restructuring Healthcare Entities in Bankruptcy: Unique Challenges and Benefits of Chapter 11

Navigating Medicare, Medicaid, HIPAA, Overpayment Liability and More Webinar
November 15, 2017

Cross-Border Update

American Bankruptcy Institute Cross-Border Insolvency Program New York
November 7, 2017

A General Overview of Legal and Security Issues Arising From Employee Telecommuting

National Golf Hardware Credit Exchange Conference Reno NV
June 22, 2017

Restructuring the Healthcare Provider: Successfully Navigating the Reorganization Process

14th Annual American Bar Association Health Law Section Washington Summit Washington DC
December 13, 2016

Cross-Border Insolvency Proceedings

Canadian Bar Association 12th Annual National Insolvency Conference Chicago
September 30, 2016

China's New Normal: How Far, How Deep, and What Type of Impact?

Association of Insolvency & Restructuring Advisors’ 14th Annual Advanced Restructuring & Plan of Reorganization Conference New York
November 2, 2015

Outbound Activity: Chinese Participation in Western Restructurings and Insolvencies

American Bankruptcy Institute / New York University School of Law Beijing, China
October 20, 2015

U.S. Bankruptcy Risks for the Chinese Exporter

Sun Yat-sen University School of Business and China Export & Credit Insurance Corporation (SINOSURE) Guangzhou, Guangdong Province, China
April 17, 2015

Help! My Producer (or Software Licensee or Actor) Just Went Bankrupt-Now What?

Beverly Hills Bar Association Beverly HIlls
August 22, 2012

International Trade and Transport Symposium

AIJA/LACBA International Law Section Long Beach CA
October 14, 2011

PRC Insolvency Law: The New PRC Bankruptcy Law, NPLs and Out-of-Court Workouts

ABI Third Hawaii Bankruptcy Workshop Kamuela HI
August 13, 2010

2010 - A Year of Economic Transition in China and the United States: Risks and Opportunities for Chinese Companies

ALB In-House Legal Summit China Beijing, China
November 26, 2009