Stroock is expanding its restructuring and bankruptcy practice with a team from Luskin, Stern & Eisler, a boutique firm focused on restructuring and bankruptcy. The attorneys will be based in Stroock’s New York office.
The team includes partners Richard Stern, Matthew O’Donnell, Alex Talesnick and Stephan Hornung, senior counsel Michael Luskin and associate Genna Grossman. Richard Stern will join Stroock partner Jeffrey Lowenthal as co-chair of Stroock’s restructuring and bankruptcy group.
“A key goal has been the acquisition of additional restructuring and bankruptcy firepower that represents banks and financial institutions, positioning us to serve a strategically important sector ahead of the widely anticipated acceleration of the restructuring cycle,” Alan M. Klinger, co-managing partner at Stroock, said. “Importantly, each of these attorneys is substantively strong and has the personality to foster relationships within the firm, support business development efforts and attract and retain top partners and associates. This is a great match, and we are terrifically excited to welcome the group to Stroock.”
The team is known for providing representation to financial institutions in restructurings, bankruptcy matters, creditors’ rights litigation and financing transactions in the United States, as well as in cross-border matters spanning Latin America, Canada and Europe. The practice represents more than 20 leading financial institutions as well as Fortune 500 companies, Chapter 11 trustees and court-appointed examiners.
Stroock’s current restructuring and bankruptcy practice has extensive experience representing sophisticated financial institutions as well as creditors, equity holders and new money investors and lenders in complex bankruptcy matters. The team is also one of the few groups that advises on the interplay between insolvency and commodities and derivatives matters. Encompassing tax, debt finance and litigation practitioners, the team devises creative solutions to transition distressed companies into recovery and deploys targeted and high-impact litigation strategies, often involving ground-breaking areas of the law, to help clients with multidimensional negotiations.
“Stroock’s long history and reputation for excellence in restructuring is well known to our team,” Stern said. “Stroock understands the nature of restructuring practice and knows how to cultivate it. And the firm’s strong and cohesive culture will foster the continued success that we’ve enjoyed as a boutique. Opportunities abound to collaborate with current practice partners as well as partners from across the firm to provide our clients the full range of legal services as well as to lend our expertise to Stroock’s institutional relationships.”
Stern has practiced bankruptcy law for more than 35 years. He regularly represents financial institutions in out-of-court workouts, restructurings, bankruptcy proceedings and lending transactions with an emphasis on complex financial restructurings and has been appointed as a fiduciary in several bankruptcy matters. His recent focus has been assisting lenders with unique issues in workouts and insolvencies in the energy, travel, healthcare, retail and hedge fund industries.
Luskin focuses on bankruptcy and other litigation, enforcing a creditor’s rights under the bankruptcy code or defending a creditor against “lender liability,” fraudulent conveyance or preference claims brought by a creditors’ committee or bankruptcy trustee. He also has substantial experience representing creditors in loan restructurings and out-of-court workouts and representing trustees and examiners in cases presenting complex litigation issues.
O’Donnell represents financial institutions in all types of loan restructurings, out-of-court workouts, bankruptcy proceedings and lending transactions including domestic and cross-border commodity financing transactions, asset-based loans, leveraged financing transactions, aircraft and other equipment financings.
Talesnick represents financial institutions in out-of-court workouts, restructurings and bankruptcy proceedings and on asset-based and leveraged financing transactions. Talesnick regularly advises agents, lenders and hedge providers on complex financial restructurings, and has substantial experience in all aspects of bankruptcy proceedings.
Hornung represents financial institutions and other creditors in commercial litigation in state and federal courts, including bankruptcy courts, across the country.
Grossman represents financial institutions in many types of finance transactions including asset-based loans, real estate financing, leveraged transactions, loan restructurings, workouts and bankruptcy proceedings.
