Kevin P. Ray

Overview

Kevin P. Ray is counsel in the Firm’s Bankruptcy, Restructuring & Creditors’ Rights and Litigation practices. He represents lenders and borrowers in commercial and corporate loan transactions. He also handles corporate reorganizations, museum and not-for-profit organization restructurings and reorganizations, debtor-in-possession and exit financings, debt restructurings, enforcement of creditors’ rights, insolvency matters, and negotiation of standstill and forbearance agreements. He works with financial institutions as secured creditors, DIP lenders, leasing entities, creditors’ committees, bankruptcy trustees, debtors, guarantors, examiners, and trade creditors.

Kevin is ranked in the 2025 and 2026 editions of The Best Lawyers in America, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (Philadelphia).

Kevin’s clients and experience span a wide variety of industries, including:

Hotels and Hospitality
Poultry Processing Centers
Nursing Homes and Continuing Care Residential Communities
Skilled Care Facilities
Auto Dealerships
Restaurants (chains and gourmet establishments)
Construction Companies
Industrial Equipment Companies
Airlines
Automotive Industry Manufacturing Companies
Emergency Transport Services Company
Marinas
Not For Profit Schools
Not For Profit Theatres and Art Institutions
Shopping Centers
Supermarkets
Residential Real Estate Developments
Commercial Real Estate Developments
Commercial Office Buildings
Commercial Resorts

In addition, Kevin has a thriving practice devoted to art and cultural heritage law. He advises art collectors, art galleries, museums, and cultural institutions in an array of transactions, including sale and purchase arrangements, consignments, art loan agreements, questions of title, provenance, and compliance with national and international law. He advises lenders and debtors on issues unique to art, antiquities, and other cultural property in a variety of lending and commercial transactions.

Before beginning his legal career, Kevin was Head of Special Collections (rare books and manuscripts) at Washington University in St. Louis and was an instructor at the Washington University School of Art.

The Best Lawyers list is issued by BL Rankings, LLC of the selection methodology can be found at https://www.bestlawyers.com/About/MethodologyBasic.aspx

No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

Experience

Representative Matters

Our firm is proud of the results it has achieved for clients, some of which are noted here. Of course, each legal matter is unique on many levels, and past successes are not a guarantee of results in any other pending or future matters.

Certain of the matters below were handled by Kevin prior to his joining Pashman Stein Walder Hayden P.C.:

Served as member of the team representing the agent of banking groups in connection with syndicated credits in various industries.
Served as member of the team representing the bankruptcy trustee in the bankruptcy case of Solomon Dwek, who engaged in a Ponzi scheme, in the U.S. Bankruptcy Court for the District of New Jersey.
Served as member of the team representing several financial institutions and leasing entities as it relates rights in bankruptcy concerning the airline/aviation industry.
Served as part of the term representing the owner/participant for aircraft in the Mesa Airbus case.
Served as member of the team representing the owner/trustee for aircraft in the United Airlines case.
Served as member of the team representing the lending institutions/lessors of aircrafts in Aloha Airlines case.
Served as member of the team representing lenders relating to credit facilities and letters of credit extended to various airlines.
Served as member of the team representing different constituencies concerning rights and remedies in corporate out-of-court restructurings and bankruptcy settings.
Advised art collectors on various art auction agreements.
Advised art collectors on various private sale agreements.
Advise art advisory firm on art advisory agreements
Advised real estate development company on loan of art.
Advised art collectors on the acquisition and disposition of antiquities.
Advised art collectors on museum loans and donations.
Advised art museums in loan, consignment, and exhibition matters.
Advised collectors in loans secured by the collectors’ art collections.
Advised lenders on loans secured by art and cultural property collateral.

Recognition

Honors & Recognitions

Selected for Inclusion in the list of The Best Lawyers in America, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (Philadelphia), 2025, 2026
Member, Winning Team, Global M&A Network’s Turnaround Atlas Awards, “Chapter 11 Restructuring, Mid-Market Segments (100-250)” for the restructuring of Lombard Public Facilities Corporation, 2019
Member, Winning Team, TMA Chicago/Midwest Awards Program, “Small Transaction of the Year” for the restructuring of the Lombard Public Facilities Corporation, 2018
Member, Winning Team, “Cross Border Special Situation M&A Deal of the Year” for the AgFeed Industries sale of assets to Ningbo Tech Bank, TriOak Foods and Smithfield/Murphy, Global M&A Network’s Turnaround Atlas Awards, 2014
Member, Winning Team, U.S. News - Best Lawyers “Law Firm of the Year” in Bankruptcy & Creditor Debtor Rights / Insolvency & Reorganization Law and Litigation – Bankruptcy, 2013

The Best Lawyers list is issued by BL Rankings, LLC of the selection methodology can be found at https://www.bestlawyers.com/About/MethodologyBasic.aspx

No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

News & Insights

News

Publications

8.4.23|Publication
“It All Comes Down To Choice of Law In Nazi-Looted Art Case,” Law360
8.1.17|Publication
“Art & Business: Transactions in Art and Cultural Property,” American Bar Association
3.27.17|Publication
“When Artists Disavow Their Work,” Best Lawyers – Business Edition
1.8.16|Publication
“Relationship Banking and ‘Tying’ under the Bank Holding Company Act,” The Deal
12.3.15|Publication
"Art Consignment and the Risk of Fraud,” The Secured Lender
Spring 2015|Publication
“International Secured Transactions and Insolvency,” The Year in Review, American Bar Association Section of International Law, Volume 49
Winter 2014|Publication
“Investing in Distressed or Underperforming Companies: Recent Challenges to Favored Deal Structures”
9.17.14|Publication
“The Art of Distress: Cultural Property in Workouts and Insolvencies,” The Deal
8.8.14|Publication
“Rare Window Onto Artwork Valuation Issues In Insolvency,” Law360
4.24.14|Publication
“What’s Next For The Detroit Institute Of Arts?” Law360
Spring 2014|Publication
“Detroit Institute of Arts,” International Legal Developments Year in Review

Associations

Community & Professional

Volunteer Attorney, Philadelphia Volunteer Lawyers for the Arts
American Bar Association
American Bankruptcy Institute
International Bar Association
American Bar Association
- International Law Section Art & Cultural Heritage Law Committee, Co-Chair, 2014-2015; Vice Chair, 2013-2014
- International Lawyer – International Legal Developments Year In Review, Editor-in-Chief, Art & Cultural Heritage Law chapter, 2015-2021
- International Law Section Secured Transactions & Insolvency Committee, Co-Chair, 2014-2015; Vice Chair, 2013-2014
- International Committee on Secured Transactions & Insolvency Newsletter, Editor-in-Chief, 2014-2016
- International Law Section’s Financial Products & Services Committee, Vice Chair, 2014-2015