Bankruptcy Law

Our firm's bankruptcy and creditors' rights practice involves advising both debtors and creditors. We have assisted banks, non-institutional lenders and landlords in the enforcement of loan agreements, notes, guarantees, mortgages, security agreements and leasehold interests.

In addition to representing our clients in proceedings before United States Bankruptcy Courts, we have pursued and defended our clients' interests in federal and state enforcement proceedings and state mortgage foreclosure and receivership proceedings. Our experience also extends to loan "workouts" and restructurings, debtor-in-possession financings, and out-of-court transfers of property in lieu of foreclosure.

Our firm has taken a special interest and is especially prepared to deal with institutional workouts from the perspectives of the lending institution, trade creditors and borrowers. Our experience has provided clients with successful and complete financial reorganizations under Chapter 11 of the United States Bankruptcy Code and, where reorganization has proven impossible, we have successfully aided troubled companies in the sale, liquidation or termination of their businesses through bankruptcy and other processes.

• Obtained 100 percent settlements for a client who purchased assets, including contracts, out of the Enron bankruptcy estate only to find that certain counterparties refused to honor the contracts. After moving to have the counterparties held in contempt of the bankruptcy court’s order approving the sale of assets, the counterparties paid what they owed.
• Obtained negotiated settlements in favor of owners that avoided refusals by various bankruptcy courts to approve lease assignments from bankrupt major retailers.
• Represented 31 vehicle dealers in the Chrysler bankruptcy proceedings.
• Represented 162 Saab vehicle dealers related to the liquidation of the Saab vehicle brand.
• Currently represent the creditors’ committee of Saab Cars North America, Inc., the largest vehicle franchisor to file bankruptcy and cease operations in American history. Currently assisting the creditors’ committee in the liquidation of tens of millions of dollars of assets for the benefit of creditors, whose potential claims could equal in excess of $100 million.
• Represent 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.
• Represented the developer of the Chelsea Market (Manhattan) in acquiring the debt and subsequently the property, through bankruptcy and foreclosure; supervised leasing of property.
• Represented a bankruptcy trustee during an investigation and at trial in U.S. Bankruptcy Court regarding a $40 million fraud in the jewelry industry.