Bankruptcy and Creditors' Rights


 
Our firm has national and international expertise and experience in bankruptcy, debtor's remedies and creditors' rights.  We represent debtors, secured and unsecured creditors, committees, Chapter 7 and 11 trustees, asset purchasers and landlords in large and medium-sized bankruptcy and reorganization cases in New York and other jurisdictions throughout the United States.   In addition, the firm represents debtors and creditors in loan workouts.  Lawyers in the firm have represented plaintiffs and defendants in hundreds of litigations related to bankruptcy and reorganization cases, including preference and fraudulent conveyance cases, Ponzi-scheme litigations, breach of fiduciary duty cases and fraud cases.
 
For example, in recent years the firm's lawyers have been involved in the following matters:
 

     Representation of  Insolvency Administrator of a German company holding common stock and debt in an American subsidiary that filed Chapter 11 proceeding in Texas - Chapter 11 Plan confirmed in 2009;

     Representation of creditors and stakeholders in bankruptcies of Enron, WorldCom, Lehman Brothers Holdings Inc., Lehman Brothers Inc., Chrysler LLC, General Motors Corporation, and Bernard L. Madoff Investment Securities LLC;

     Pre-litigation strategic consultation and preparation for targets of clawback litigation in Ponzi scheme cases;

     Defense of fraudulent conveyance and breach of fiduciary duty action in US District Court against former president and control shareholder of debtor company;

     Representation of Chapter 7 Trustee in fraudulent conveyance action against former principal of building contractor and his wife, who transferred moneys to Cook Islands;

     Representation of three major New York landlords in many Chapter 11 and Chapter 7 proceedings;

     Representation of landlord that moved to dismiss its tenant's second Chapter 11 case and trial of the contested motion;

     Chester Salomon served as Chapter 11 Trustee of the largest privately-owned demolition company in the US; and

     Chester Salomon has served as Chapter 7 and 11 Trustee in scores of commercial cases.

Primary Contact:

Alec P. Ostrow
 212-888-3033 
Chester B. Salomon
 212-888-3033 

Attorneys:

Alec P. Ostrow
 212-888-3033 
Chester B. Salomon
 212-888-3033