11 Broadway, Suite 715
New York, NY 10004
Telephone: 212.390.8054
Facsimile: 212.390.8064
  • Over 30 years experience. Results-oriented focus. Creative solutions.

Chapter 11 Bankruptcy

Bankruptcy Matters

Mr. Rubin has extensive experience representing a broad range of parties in Chapter 11 cases across the country, including, for instance, debtors, secured and unsecured creditors, DIP lenders, trustees, investors in distressed debt, title insurers, and landlords. He has advised clients regarding contested plan confirmation, preference and fraudulent conveyance actions, challenges to liens, cash collateral disputes, involuntary bankruptcy litigation, true lease and true sale issues, recharacterization of debt to equity, potential liability of directors and officers of insolvent companies, and substantive consolidation.   Examples of these matters  include:

FIKA Espresso Bars: Chapter 11 debtors’ counsel for chain of upscale espresso bars and chocolate factory located in New York City.

Wansdown Properties Corporation N.V.:  Debtor’s counsel in the chapter 11 case of the owner of a seven-story luxury townhouse in Manhattan.  Rubin LLC was able to effectuate the sale of the townhouse for $11,500,000 at the height of the Covid-19 pandemic under a confirmed chapter 11 plan.

Counterclaim Defendants in Adversary Proceeding to Foreclose on Mortgage:  Rubin LLC successfully defended non-debtor counterclaim defendants, who were falsely accused of forging loan documents, through trial in a complex bankruptcy litigation.  Rubin LLC assisted in obtaining a judgment of foreclosure and won dismissal of all counterclaims against its clients.  The court’s decision following trial can be found at In re Broadway Equity Holdings, LLC, 617 B.R. 777 (Bankr. S.D.N.Y. 2020).

Anmuth LLC:  Rubin LLC successfully represented involuntary debtor entities, winning dismissal of the involuntary chapter 7 petitions filed against them, and obtaining a judgment after trial awarding $600,000 in punitive damages, over $120,000 for attorneys’ fees and other non-monetary relief.  The bankruptcy court found that the petitioning creditors had filed the involuntary bankruptcy cases in bad faith.  The court’s extensive decision can be found at In re Anmuth LLC, 600 B.R. 168 (Bankr. E.D.N.Y. 2019).

Fred Leighton – Jeweler to the Stars: Debtors’ counsel for Fred Leighton LLC, famous “Jeweler to the Stars,” and related companies in their chapter 11 bankruptcy cases. Fred Leighton’s collection is widely recognized as the world’s most prestigious collection of rare and historic jewels.

Commercial Bank:  Advised largest secured lender that provided financing of over $16 million to agricultural growth, packaging and distribution businesses.  (Bankr. E.D. Pa.)

General Growth Properties, Inc.: Successful representation of secured lender in connection with dispute over default rate interest.

Professional Sports Franchise Affiliates – Stadium Financings: Advice to affiliates of Major League Baseball and National Football League franchises regarding financing issues for the construction of new stadiums.

Manhattan Valley Portfolio: Represented mortgagee with claim of over $220 million secured by 33 properties in connection with pre-negotiated plan, confirmed within 75 days of bankruptcy filing, under which properties were transferred to client.

Taylor, Bean & Whitaker: Representation of court-approved DIP lender. (Bankr. M.D.Fla.)

A&P/Pathmark/Waldbaums: Counsel for several landlords in connection with lease assumption, rejection and cure claim disputes.

United Airlines – Important Precedent for Claims Purchasers: Representation of a claims purchaser in Seventh Circuit Court of Appeals decision that established that a buyer of a pre-petition claim is also entitled to assert the seller’s cure claim.

Intelsat Corporation – PSN (USA), Inc.: Argued and won summary judgment dismissing all fraudulent transfer claims brought against debtor’s satellite service provider by liquidating trust established under confirmed chapter 11 plan of reorganization. In re PSN USA, Inc., 2011 WL 4031147, 2011 Bankr. Lexis 3473 (Bankr. S.D.Fla. 2011).  This ruling was affirmed by the Eleventh Circuit Court of Appeals, 615 Fed. Appx. 925 (11th Cir. 2015).

Madoff Case – Hedge Fund Representation: Representation of several hedge funds that invested tens of millions of dollars with Bernard L. Madoff, pursuing recoveries and defending against clawback and other claims.

Penn Camera Exchange, Inc.: (Bankr. D. Md.) Represented chair of official committee of unsecured creditors, successfully negotiated allowance of 503(b)(9) claims and structured dismissal.

Secured Lender – Conversion/Dismissal of Chapter 11 Case: Representation of a major financial institution in defeating a debtor’s efforts to vitiate absolute assignment of rents and confirm plan via cram down. We demonstrated that case should either be converted or dismissed because of conflicts of interest and breaches of fiduciary duties. (In re Prisco Properties, LLC, 2010 WL 4412095 (Bankr. D.N.J.))

Office Equipment/Camera Manufacturer – Chapter 11 Cases: Representation of an international office equipment and camera manufacturer in various complex chapter 11 cases, including RadioShack, Reader’s Digest, Tribune Co., The Sharper Image, Ultimate Electronics, Ritz Camera, The Wiz, and The Hertz Corporation.

Automotive Industry: Represented manufacturers, suppliers and other creditors in chapter 11 cases of General Motors, Chrysler, Delphi Automotive Systems, Dana Corporation and Intermet Corp.; provided workout advice to an automotive parts remanufacturer; and negotiated a forbearance agreement for an automotive electronics distributor.  Served as mediator in largest adversary proceeding brought in connection with the chapter 11 case of Coda Automotive and Miles Electric Vehicles (Bankr. D.Del.)

Title Insurer/Secured Creditor – Lien Priority Dispute: Representation of a title insurance company which was a secured creditor in a lien priority dispute with another creditor. After the properties securing the debt were sold, the bankruptcy court authorized payment of our client’s claim, dismissing the competing secured creditor’s claim. In re Litas International, Inc., 2004 WL 1488114, 2004 U.S. Dist. LEXIS 12151 (S.D.N.Y. 2004).

Bankruptcy Claims Traders – Various: Representation of claims buyers in large and complex chapter 11 cases pending across the United States, including Pacific Metro, LLC, Coram Healthcare, Covanta Energy Group, Intermet Corp., Genuity, Inc. and Pegasus Satellite Television, Inc.

Senior Living Facility: Rubin LLC represented the Debtor’s investment banker in the chapter 11 case of UGHS Senior Living (Bankr. S.D.Texas).

Telecommunications Company – Chapter 11 Cases: Representation of one of the world’s largest providers of telecommunications services in various chapter 11 cases pending in New York and New Jersey bankruptcy courts.

Title Underwriters – Island Mortgage Network Chapter 11: Representation of several national title underwriters in connection with the chapter 11 cases of Island Mortgage Network, Inc. and related litigation in various courts.

Braniff International Airways – Directors and Officers: Representation of the directors and officers of a failed airline against claims of bankruptcy trustee for breach of fiduciary duty and waste.

Equity Owner – NewPower Company/Enron-Related Bankruptcy: Representation of a major equity security holder in the chapter 11 cases of The NewPower Company and related debtors, whose largest secured creditor, shareholder and warrant holder was Enron Corp.

Real Estate Purchaser – Appeal in Recharacterization Dispute: Representation of a sale-leaseback purchaser of real estate in a dispute over the bankrupt seller’s attempt to recharacterize the transaction as a disguised financing. The purchaser won at trial, and Paul handled its successful appeals in U.S. District Court for the Southern District of New York, and in the U.S. Court of Appeals for the Second Circuit. In re Uni-Rty, 1998 WL 299941 (S.D.N.Y. 1998).