Having participated in complex commercial creditor-debtor/landlord-tenant relationships for 25 years, Eric J. Snyder possesses unique experience in this field. He provides bankruptcy advice to corporations, landlords, creditors’ committees, and bankruptcy trustees, as well as to museums seeking advice on matters related to the lending of artwork to commercial galleries. He also regularly defends the claims of insurers and private collectors related to the bankruptcies of numerous of art galleries.

Eric is Chairman of the firm’s Bankruptcy Department.

Reported Decisions:

  • In re Fine Diamonds, LLC, 2011 WL 2447725 (Bankr. S.D.N.Y June 15, 2011). Motion to strike direct testimony of defendants granted in $37 million fraudulent conveyance action; represented trustee.
  • In re Schiff, 2010 WL 3219535 (Bankr. S.D.N.Y. August 10, 2010). Bankruptcy court sustains objection of guardian to payment of professional fees; represented guardian.
  • In re Schackner, 2010 WL 1418083 (Bankr. E.D.N.Y. April 6, 2010). Court denies objection to proof of claim, represented creditor.
  • In re Circuit City Stores, Inc., 447 B.R. 475 (Bankr. E.D.Va. 2009). Debtor not required to immediately satisfy certain rent obligations; represented landlord.
  • In re Goody's Family Clothing, Inc., 392 B.R. 604 Bankr. D.Del. 2008. Debtor not required to immediately satisfy certain rent obligations; represented landlord.
  • In re UNED Associates, LLC, 2007 WL 1200822 (Bankr. S.D.N.Y. April 20, 2007). Motion to dismiss bankruptcy case denied and sole tenant allowed to remain in possession of space; represented tenant.
  • Breslin Realty Development Corp. v. Schackner, 397 F.Supp.2d 390 (E.D.N.Y. 2005). Motion to dismiss RICO claim against defendant partially granted; represented defendant.
  • In re Ogden New York Services, Inc. 312 B.R. 729 (S.D.N.Y. 2004). Reversing bankruptcy court, allowing creditor to withdraw protective proof of claim; represented creditor.
  • In re Allboro Waterproofing Corp., 224 B.R. 286 (Bankr. E.D.N.Y. 1998). Counsel cannot represent Chapter 7 debtor and its shareholders in related litigation simultaneously under certain circumstances; represented debtor.
  • In re Eighty Three-Eighty Four 116th Owners Corp., 214 B.R. 530 (Bankr. E.D.N.Y. 1997). Determination that cooperative corporation is “single asset real estate,” as that term is defined under Section 101(51B) of the Bankruptcy Code, requiring adequate protection payments under Section 362(d)(3) of the Bankruptcy Code; represented co-op.
  • In re Country Squire Associates of Carle Place, L.P., 203 B.R. 182 (B.A.P. 2d Cir. 1996). Obtaining stay pending appeal of single-asset real estate case on eve of foreclosure; represented debtor.
  • In re Craddock-Terry Shoe Corp., 98 B.R. 250 (Bankr. W.D. Va. 1988). Setoffs under the improvement of position test of Section 553(b) are measured in hours not days; represented debtor.
  • In re Craddock-Terry Shoe Corp., 91 B.R. 392 (Bankr. W.D. Va. 1988). A security interest in general intangibles does not extend to a mailing list of a catalogue merchant; represented debtor.
  • Represented 31 vehicle dealers in the Chrysler bankruptcy proceedings.
  • Represented 162 Saab vehicle dealers related to the liquidation of the Saab vehicle brand.
  • Currently represents the creditors’ committee of Saab Cars North America, Inc., the largest vehicle franchisor to file bankruptcy and cease operations in American history. Eric is currently assisting the creditors’ committee in the liquidation of tens of millions of dollars of assets for the benefit of creditors, whose claims could equal in excess of $100 million.
  • Represents the Liquidation Trustee (and formerly the creditors’ committee) of Jesup & Lamont Securities Corporation, one of the oldest broker-dealers in the U.S. prior to its filing for Chapter 11 bankruptcy during October 2011.
  • Currently advises numerous globally recognized museums on matters related to the lending and consignment of works of art to other not-for-profit entities, galleries, and individuals.

Overview

Having participated in complex commercial creditor-debtor/landlord-tenant relationships for 25 years, Eric J. Snyder possesses unique experience in this field. He provides bankruptcy advice to corporations, landlords, creditors’ committees, and bankruptcy trustees, as well as to museums seeking advice on matters related to the lending of artwork to commercial galleries. He also regularly defends the claims of insurers and private collectors related to the bankruptcies of numerous of art galleries.

Eric is Chairman of the firm’s Bankruptcy Department.

Reported Decisions:

  • In re Fine Diamonds, LLC, 2011 WL 2447725 (Bankr. S.D.N.Y June 15, 2011). Motion to strike direct testimony of defendants granted in $37 million fraudulent conveyance action; represented trustee.
  • In re Schiff, 2010 WL 3219535 (Bankr. S.D.N.Y. August 10, 2010). Bankruptcy court sustains objection of guardian to payment of professional fees; represented guardian.
  • In re Schackner, 2010 WL 1418083 (Bankr. E.D.N.Y. April 6, 2010). Court denies objection to proof of claim, represented creditor.
  • In re Circuit City Stores, Inc., 447 B.R. 475 (Bankr. E.D.Va. 2009). Debtor not required to immediately satisfy certain rent obligations; represented landlord.
  • In re Goody's Family Clothing, Inc., 392 B.R. 604 Bankr. D.Del. 2008. Debtor not required to immediately satisfy certain rent obligations; represented landlord.
  • In re UNED Associates, LLC, 2007 WL 1200822 (Bankr. S.D.N.Y. April 20, 2007). Motion to dismiss bankruptcy case denied and sole tenant allowed to remain in possession of space; represented tenant.
  • Breslin Realty Development Corp. v. Schackner, 397 F.Supp.2d 390 (E.D.N.Y. 2005). Motion to dismiss RICO claim against defendant partially granted; represented defendant.
  • In re Ogden New York Services, Inc. 312 B.R. 729 (S.D.N.Y. 2004). Reversing bankruptcy court, allowing creditor to withdraw protective proof of claim; represented creditor.
  • In re Allboro Waterproofing Corp., 224 B.R. 286 (Bankr. E.D.N.Y. 1998). Counsel cannot represent Chapter 7 debtor and its shareholders in related litigation simultaneously under certain circumstances; represented debtor.
  • In re Eighty Three-Eighty Four 116th Owners Corp., 214 B.R. 530 (Bankr. E.D.N.Y. 1997). Determination that cooperative corporation is “single asset real estate,” as that term is defined under Section 101(51B) of the Bankruptcy Code, requiring adequate protection payments under Section 362(d)(3) of the Bankruptcy Code; represented co-op.
  • In re Country Squire Associates of Carle Place, L.P., 203 B.R. 182 (B.A.P. 2d Cir. 1996). Obtaining stay pending appeal of single-asset real estate case on eve of foreclosure; represented debtor.
  • In re Craddock-Terry Shoe Corp., 98 B.R. 250 (Bankr. W.D. Va. 1988). Setoffs under the improvement of position test of Section 553(b) are measured in hours not days; represented debtor.
  • In re Craddock-Terry Shoe Corp., 91 B.R. 392 (Bankr. W.D. Va. 1988). A security interest in general intangibles does not extend to a mailing list of a catalogue merchant; represented debtor.

Representative Matters

  • Represented 31 vehicle dealers in the Chrysler bankruptcy proceedings.
  • Represented 162 Saab vehicle dealers related to the liquidation of the Saab vehicle brand.
  • Currently represents the creditors’ committee of Saab Cars North America, Inc., the largest vehicle franchisor to file bankruptcy and cease operations in American history. Eric is currently assisting the creditors’ committee in the liquidation of tens of millions of dollars of assets for the benefit of creditors, whose claims could equal in excess of $100 million.
  • Represents the Liquidation Trustee (and formerly the creditors’ committee) of Jesup & Lamont Securities Corporation, one of the oldest broker-dealers in the U.S. prior to its filing for Chapter 11 bankruptcy during October 2011.
  • Currently advises numerous globally recognized museums on matters related to the lending and consignment of works of art to other not-for-profit entities, galleries, and individuals.