Business Reorganizations and Bankruptcy

"We are a relatively small company dealing in an industry with multi-billion dollar organizations. Whiteford, Taylor & Preston are our great equalizer. They really level the playing field, understand our business, and our needs and requirements. It is as if they are a division of our company.” -- Client quoted in US News & World Report, Best Law Firms

They are also the best in the world in terms of explaining complex legal concepts so the layman can understand!” Client quoted in US News & World Report, Best Law Firms

“Paul Nussbaum and his colleagues at Whiteford, Taylor & Preston are the finest, most capable and responsive attorneys I have ever had the pleasure of working with.  They were so effective as co-counsel on a particular matter that we worked on together, that they were the first attorneys I turned to when our Firm required legal advice and assistance; outstanding attorneys, and wonderful and caring people.” Client quoted in US News & World Report, Best Law Firms

Chambers and Partners ranks the firm BAND ONE in its highest tier and comments:  "… Paul Nussbaum is a noted bankruptcy lawyer and chairs the firm's bankruptcy litigation, restructuring and debtor-creditors' rights practice. He is 'creative and has good insight not only into the law, but into the motivations of the other side.' Managing partner Martin Fletcher specializes in a broad range of bankruptcy reorganization and restructuring matters. He is 'a top-notch administrator,' according to sources, and also elicits praise for his awareness of developments in the financial sector. … Bankruptcy lawyer Kevin Hroblak's 'command of the law in very complex areas is truly impressive and a very rare commodity,' remark sources, who also praise his ability to practically apply this legal knowledge to everyday problems." -- Extract from Chambers and Partners USA

The Business Reorganization and Bankruptcy Practice group at Whiteford, Taylor & Preston offers an ideal mixture of transactional strength and litigation reinforcement. Our group is recognized as among the largest and most accomplished in the region. We represent debtors and debtors in possession, creditors and creditors' committees, lenders and trustees in all types of commercial and bankruptcy related litigation, debt restructuring and bankruptcy reorganization proceedings, including out-of-court workouts. Our representation ranges from small local cases to those of national stature. Additionally, our business reorganization and bankruptcy practice extends across industry lines to include real estate development, retail and wholesale, transportation, healthcare, manufacturing, telecommunications, agri-business and a host of other industries. Our clients include individuals, small business organizations, and publicly traded institutions, among others.

Our team of professionals brings an enormous diversity of skill and experience to each bankruptcy or financial problem it handles. The members of our group include a former Justice Department litigator, Chapter 7 and 11 trustees, career Chapter 11 specialists, and a former in-house counsel of a financial institution. Moreover, several members began their legal careers as judicial clerks for federal or state court judges, including federal bankruptcy judges.

The transactional and litigation groups of the business reorganization and bankruptcy practice coordinate their efforts in order to yield the best business results for our clients. We look forward to the challenge of assisting you in achieving optimum results in any bankruptcy proceeding or financial crisis in which you are involved.

  • Best Law Firms
  • Chambers and Partners Designation
Name
Title
Contact

Articles

Problems in the Code

The attached article first appeared in The ABI Journal, Vol. XXXVIII, No. 2, February 2019, and is reprinted with permission from the American Bankruptcy Institute.

Richmond’s BizSense on the Move by Inge and Booker to Whiteford

On July 30, leading Richmond-area business publication BizSense led with a story about the move to Whiteford, Taylor & Preston by prominent Richmond litigators Vernon Inge and Corey Booker: “A veteran local lawyer says he’s in search of the ‘A-team’ of area attorneys as he begins to build a large regional law firm’s first Richmond office.”

What to Do When a Customer Files for Bankruptcy

If you've been working as a management accountant or finance professional in the past five years, it's a safe bet that you've encountered the bankruptcy process in some fashion. Bankruptcy isn't only intimidating to the company going through it (the debtor) but to anyone who continues to do business with an entity in bankruptcy or is otherwise involved in the bankruptcy process.

Former Raven Lewis not alone in bankruptcy

Paul Nussbaum, chair of the Business Reorganization and Bankruptcy Litigation section, was featured in an article in the Daily Record, May 30, 2012, about the recent bankruptcy of Jamal Lewis:

“The term of their income, the years that they generate income … has a shorter lifespan than a doctor or a lawyer or even a movie star,” said Nussbaum. “When they are no longer working … they are saddled with a great deal of debt.”

A New York Yankees Fan in Baltimore's Bankruptcy Court

In 1984, when Paul Nussbaum graduated from California Western School of Law, his peers were specializing in securities litigation, international law and white-collar crime. Exciting areas. Nussbaum, meanwhile, was unsure of his direction until, in his final year, he took a bankruptcy elective and scored the top grade in the class. "I found it incredibly fascinating," Nussbaum says. "It was the first area of the law I found that I was able to comprehensively appreciate and understand how it worked, and why the process and legal proceedings were there, and the benefits and creativity it allowed for a practitioner. I thought, 'This is something that would really be fun.'"

International Secured Transactions and Insolvency

The attached article first appeared in The International Lawyer, vol. 43, no.2, Summer 2009, and is reprinted by permission of the American Bar Association. Neither the article nor any portion thereof may be copied or disseminated in any form or by any means, or downloaded or stored in an electronic database or retrieval system, without the express written consent of the American Bar Association.

On the Move - Legal Addition

Paul Nussbaum and Kevin Hroblak, partners in Whiteford Taylor & Preston's business reorganization and bankruptcy group, have been singled out by Legal 500 as among the leading bankruptcy lawyers in the Northeast U.S. The firm's bankruptcy group itself was ranked highly in the Northeast, as one of only 17 first- and second-rank firms in the entire region from Massachusetts to Washington, D.C., including New York. Nussbaum has been recognized as one of the Top 10 Lawyers in Maryland by Super Lawyers.

Have You Been “Preferred”?

As the wave of bankruptcy filings continues, at some point, a business that provides trade credit to other businesses and customers is likely to encounter a lawsuit seeking return of payments as a “preferential” transfer. This type of lawsuit typically seeks recovery of the amounts paid for goods or services by a customer that has subsequently filed for bankruptcy protection.

Events

American Bankruptcy Institute & Georgetown Law CLE Bankruptcy: Views from the Bench Conference

Presented by the American Bankruptcy Institute and Georgetown Law Continuing Legal Education, the conference offers a unique opportunity for bankruptcy practitioners to hear from more than a dozen bankruptcy judges during a full day of high-quality CLE and networking opportunities. This year’s program will examine a number of current bankruptcy topics, including retail bankruptcies, limited liability companies, the impact of the Jevic decision, and more.

News

Whiteford Recognized by IFLR1000

Whiteford, Taylor & Preston is pleased to announce that IFLR1000 has ranked the firm highly in its second edition of IFLR1000 United States.

Chambers Honors Whiteford in 11 Practice Areas

Whiteford, Taylor & Preston is pleased to announce that Chambers and Partners has once again ranked the firm highly in its 2019 list of leading firms and business lawyers.

Leader of Global Bankruptcy Bar Joins Whiteford, Taylor & Preston

Whiteford Taylor & Preston is pleased to announce that Marc Abrams has joined the firm. Widely recognized as one of the preeminent bankruptcy practitioners in the United States, Mr. Abrams is also a leader in the burgeoning area of cross-border restructurings.

U.S. News Awards Top-Tier Rankings to 46 Whiteford Practices, Including 18 Nationally

Whiteford, Taylor & Preston is pleased to announce that U.S. News and World Report - Best Lawyers ® “Best Law Firms” has awarded the firm exemplary rankings for 2019.  Eighteen of the firm’s practices are ranked at the national level, including two practices with national Tier 1 rankings:  Litigation and Bankruptcy.  At the state level, an additional forty-six practices have been ranked in Maryland, Washington, D.C., and VA.

Leading Litigators Join Whiteford, Taylor & Preston in New Richmond Office

Whiteford Taylor & Preston announced today that preeminent Richmond-based litigators Vernon E. Inge, Jr., and Corey Simpson Booker have joined the firm, resident in its new Richmond office.  Mr. Inge is a commercial litigation, bankruptcy and sports law attorney with a national profile.  Ms. Booker is a highly experienced commercial and bankruptcy litigator.  The Richmond office is the firm’s sixteenth and, along with offices in Northern Virginia and Roanoke, its third in Virginia.

Three Whiteford Lawyers on Benchmark Litigation 40 & Under Hotlist

Three lawyers from Whiteford, Taylor & Preston have been named to the Benchmark Litigation 40 & Under Hotlist: Aaron Casagrande, L. Katherine Good and Christopher Samis.  Each has been identified by peers and clients as being among the most notable up-and-coming litigation attorneys in the United States.  Mr. Casagrande is one of only five lawyers to have been selected for this national ranking in Maryland.  Ms. Good and Mr. Samis are two of only nine Delaware lawyers chosen, and Mr. Samis is the only lawyer also to be recognized as a Future Star.  Additional recent honorees include Maryland-based litigator Todd Brooks.

Four WTP Lawyers on Benchmark Litigation Under 40 Hotlist

Four lawyers from Whiteford, Taylor & Preston have been named to the Benchmark Litigation Under 40 Hotlist: Todd Brooks, Aaron Casagrande, Katherine Good and Christopher Samis. Each has been identified by peers and clients as being among the most notable up-and-coming litigation attorneys in the United States. Mr. Brooks and Mr. Casagrande are the only two Maryland lawyers to have been selected for this national ranking. Ms. Good and Mr. Samis are two of only six Delaware lawyers chosen, and Whiteford is the only firm to have two Delaware lawyers recognized. 

Whiteford, Taylor & Preston and 29 Lawyers Honored by Chambers and Partners

Whiteford, Taylor & Preston is pleased to announce that Chambers and Partners has once again ranked the firm highly in its 2017 list of leading firms and business lawyers. This year’s recognition includes a record 29 attorneys in 4 states, the District of Columbia and Afghanistan. 

Leading Bankruptcy & Restructuring Attorney Joins New Whiteford, Taylor & Preston Pittsburgh Office

Whiteford Taylor & Preston announced today that Michael J. Roeschenthaler, a preeminent Pittsburgh-based bankruptcy and restructuring lawyer, has joined the firm and will reside in a new office the firm has opened in Pittsburgh.  Over the course of 15 years, Mr. Roeschenthaler has built a national reputation representing stakeholders in financially distressed situations in a wide range of sectors.

Five WTP Lawyers Named to Virginia Super Lawyers and Michael Hastings Again Named to "Top 100"

Whiteford Taylor & Preston is pleased to announce that Michael Hastings, Bradford F. Englander and Christopher A. Jones have again been selected as Super Lawyers in Virginia, and Justin Fasano and Brandy Rapp have again been selected as Rising Stars.  In addition, Mr. Hastings was named to the “Top 100” list for all practice areas in Virginia for the second year in a row.

Three WTP Partners Named among Virginia's "2014 LEGAL ELITE" for Bankruptcy/Creditors' Rights

Three partners in the Business Reorganizations & Bankruptcy group at Whiteford Taylor & Preston LLP have been named by Virginia Business as among the state’s top ten vote-getting “Legal Elite” in the field of Bankruptcy/Creditors’ Rights. 
Bradford F. Englander and Christopher A. Jones are based in the firm’s Falls Church office; Michael E. Hastings is based in the Roanoke office.  This was the first listing for Mr. Englander.

Howrey Trustee Wins Judge's Blessing Of $4M Clawback Deal

Law360, New York (June 30, 2014, 3:26 PM ET) -- A California bankruptcy judge on Friday approved a settlement under which 60 former partners of Howrey LLP agreed to pay the defunct firm’s Chapter 11 trustee $4.2 million to resolve pending clawback claims despite an objection from a small group of unsecured creditors.

Paul Nussbaum Presents at Bankruptcy Bar Association's 18th Annual Spring Break Weekend on "Ethical Issues in Business and Consumer Bankruptcy Cases"

Whiteford Taylor & Preston LLP is pleased to announce that Paul M. Nussbaum, Chair of the firm’s Business Reorganizations and Bankruptcy Litigation group, addressed the Bankruptcy Bar Association at its 18th Annual Spring Break Weekend on "Ethical Issues in Business and Consumer Bankruptcy Cases" in Annapolis on May 3, 2014.

The program, designed for leading practitioners in the bankruptcy arena, included Maryland Bankruptcy Judges as well as visiting judges from both Virginia and Washington D.C and attorneys from an array of regional law firms. 

Stephen Gerald Named to Faculty of MSBA Advanced Bankruptcy Institute

Stephen B. Gerald, a partner in the WTP Business Reorganizations and Bankruptcy group, has been named to the faculty of the Advanced Bankruptcy Institute of the Maryland State Bar Association.  He will be presenting on March 12, 2014, on the topic of “Hot Topics on Plan Confirmation,” an Advanced Bankruptcy Roundtable.

Michael E. Hastings Selected as one of Virginia's "2013 LEGAL ELITE"

Michael E. Hastings, a partner in the Business Reorganizations & Bankruptcy group at Whiteford Taylor & Preston LLP, has been selected by Virginia Business as one of the state’s top ten vote-getting “Legal Elite” in the field of Bankruptcy/Creditors’ Rights. 

WTP's Bankruptcy Litigation Group Receives Highest Maryland Rating from Chambers and Partners

Whiteford, Taylor & Preston is pleased to announce that Chambers and Partners has ranked the firm's Bankruptcy Litigation practice "Band 1," the highest ranking, which again makes it the only bankruptcy practice in the state to receive this ranking. It is based on the entire group's work, but calls out specifically three partners in the group.  Other than the lawyers in WTP's bankruptcy litigation group, only seven other lawyers across the nation received a Band 1 rating in Bankruptcy Litigation.

Super Lawyers: A NEW YORK YANKEES FAN IN BALTIMORE'S BANKRUPTCY COURT

In 1984, when Paul Nussbaum graduated from California Western School of Law, his peers were specializing in securities litigation, international law and white-collar crime. Exciting areas. Nussbaum, meanwhile, was unsure of his direction until, in his final year, he took a bankruptcy elective and scored the top grade in the class. "I found it incredibly fascinating," Nussbaum says. "It was the first area of the law I found that I was able to comprehensively appreciate and understand how it worked, and why the process and legal proceedings were there, and the benefits and creativity it allowed for a practitioner. I thought, 'This is something that would really be fun.'"

Plan of Reorganization Approved for F.T. Silfies and Price Trucking

On November 19, 2009, U.S. Bankruptcy Judge Nancy Alquist confirmed the Chapter 11 plan of reorganization for F.T. Silfies and Price Trucking. The companies sought bankruptcy protection in March of this year, and Judge Alquist commended the WTP team that represented the companies for efficiency and expertise in quarterbacking a "model" Chapter 11 case from wire to wire.

WTP Client Caruso Homes Emerges from Bankruptcy

Caruso Homes, headquartered in Crofton, Md., has had its plan of reorganization filed under Chapter 11 of the bankruptcy code confirmed by the Honorable Judge F. Schneider of the United States Bankruptcy Court for the District of Maryland, Baltimore Division, according to Jeffrey Caruso, president of the firm he founded in 1986.

Whiteford, Taylor & Preston Obtains $6.625 Million Recovery for Bankrupt Furniture Manufacturer and Retailer from Directors and Certain Officers

Whiteford, Taylor & Preston LLP's (WTP) pursuit of claims against the former directors and certain officers of The Rowe Companies and its two subsidiaries, Rowe Furniture, Inc. and Storehouse, Inc., has resulted in a $6.625 million settlement for the firm's clients, Donald F. King, the Chapter 7 Bankruptcy Trustee of Rowe Furniture, Inc., and Guy A. Davis, the Chief Liquidation Officer of bankrupt Storehouse, Inc. and the Liquidating Trustee of The Rowe Companies.

Paul M. Nussbaum: "The Best Bankruptcy Lawyer in Maryland" - Benchmark Litigation

Whiteford, Taylor & Preston LLP (WTP) is pleased to announce that the firm, having one of the largest litigation departments in Maryland, has been "highly recommended" in the Benchmark Litigation 2009 listing of Maryland litigation firms. WTP attorneys Harry S. Johnson (Products Liability), Paul M. Nussbaum (Bankruptcy and Corporate Restructuring), William F. Ryan, Jr. (Commercial), and Steven E. Tiller (Technology and Intellectual Property) were listed as "local litigation stars," and Alexander W. Koff (Global) and Brent C.

Nussbaum and Ryan Present at Global Distressed Debt West Coast Investor Forum

Whiteford, Taylor & Preston (WTP) attorneys, Paul M. Nussbaum and William F. Ryan, Jr., presented on Investing In Distressed Securities During Troubled Economic Times at the International Quality and Productivity Center's (IPCQ) Global Distressed Debt West Coast Investor Forum, Los Angeles, California, on March 31-April 2, 2008.

Whiteford, Taylor & Preston Increases Its Number of Falls Church Attorneys and Expands Its Northern Virginia Location

Whiteford, Taylor & Preston LLP (WTP) has expanded its Falls Church office - by increasing the number of attorneys and enlarging its office space. Glenn R. Bonard, Eileen Morgan Johnson, Thomas Mugavero, Christy Richardson, and Andrew J. Terrell have joined Raymond J. Diaz, Michael Gartner, Christopher A. Jones, Katherine McCarthy, Edward J. O'Connell, and Eric A. Vendt in WTP's offices at 3190 Fairview Park Drive, Suite 300, Falls Church, VA 22042.

Christopher Jones Joins Whiteford, Taylor & Preston

Whiteford, Taylor & Preston (WTP) is pleased to welcome Christopher A. Jones, Esq. as Partner in the firm's Bankruptcy section.  Stationed in the firm's new Falls Church office, Jones is formerly of LeClair Ryan in Richmond, Virginia, and has a wealth of experience in handling insolvency matters for both debtors and creditors, as well as handling complex commercial litigation.