August 2011

The Spring/Summer 2011 Issue  of the Avoidance Action Report is currently available.  Access past issues of the Avoidance Action Report.

July 2011

Jennifer Convertibles reorganization and sale to Haining Mengnu Group Co. Ltd. wins the 2011 Atlas Retail and Services Turnaround of the Year Award.  Jennifer Convertibles reorganization and sale to Haining Mengnu Group Co. Ltd. wins the 2011 Atlas Retail and Services Turnaround of the Year Award.  In the Jennifer Convertibles bankruptcy, Haining Mengnu, represented by Neiger LLP, was the largest unsecured creditor, and acted as plan proponent, DIP lender, and exit financier and successfully converted its trade debt into 90.1% of the reorganized debtor’s equity.  For more about the Jennifer Convertibles bankruptcy, click here.

June 21, 2011

Neiger LLP confirms plan of reorganization on behalf of 1802 53^rd Street Corp.  During a time in which the many single-asset real estate cases convert chapter 7 liquidations, Neiger LLP successfully confirmed a chapter 11 plan of reorganization for its landlord client in less than nine months.  The plan pays all creditors in full or in the amounts agreed to by the parties through settlement, and allowed the debtor to avoid any disruption to its tenants or business operations while in bankruptcy.  Key to confirming the plan was Neiger LLP’s arduous negotiations with the landlord’s largest creditor, the assignee of the first and second mortgages on the landlord’s apartment building, which ultimately agreed to a substantial reduction of its claim.

June 20, 2011

Sahar S. Hakakian, Esq. joins Neiger LLP as an associate.  Sahar’s practice areas include representing debtors, debtor fiduciaries, as well as secured and unsecured creditors in a wide array of bankruptcy litigation and insolvency matters, including prosecuting and defending avoidance actions and pursuing and resolving creditors’ rights and claims in chapter 7 and chapter 11 proceedings.  Prior to joining Neiger LLP, Sahar practiced at international law firm Sidley Austin LLP, where she worked on behalf of debtors, bondholders, secured and unsecured creditors in high-profile complex chapter 11 cases, including Lehman Brothers, General Motors, Washington Mutual, and Fortunoff Holdings, LLC.  For more information on Sahar and for her full bio, please click here.

June 15, 2011

Neiger LLP successfully prosecuted over 100 preference actions in the bankruptcy case of EOS Airlines, Inc.  Neiger LLP prosecuted approximately 100 preference actions in the EOS Airlines bankruptcy case in the Southern District of New York.  As a result of Neiger LLP’s efforts, the liquidating trust recovered over $250,000 for the benefit of unsecured creditors.  Neiger LLP also obtained approximately $1.5 million in claim waivers.  According to John Fioretti of Turnaround Advisors, the liquidating trustee for the EOS liquidation trust, “as a result of Neiger LLP’s efforts, unsecured creditors will receive a substantially improved distribution on their unsecured claims.”  Fioretti added that he chose Neiger LLP “because of its reputation as an expert in the field of preference law as well as its capacity to handle complex preference cases in a timely and efficient manner.”   Neiger LLP also publishes the Avoidance Action Report, which is a one-of-a-kind publication devoted to the latest case law and developments relating to avoidance actions.  For the latest or past issues of the Avoidance Action Report, visit www.AvoidanceActionReport.com.

June 1, 2011

Edward Neiger and Dina Gielchinsky co-author “Hurdles Are High for Claimants Seeking ‘Equal Treatment’:  Courts Are Loathe to Unravel Confirmation Plans,” published in the June 2011 issue of the TMA Journal of Corporate Renewal.  The article discusses the contentious issues litigated by Neiger LLP in its representation of two shareholders appealing confirmation of the chapter 11 plan filed by Visteon Corporation in the Bankruptcy Court for the District of Delaware.  Visteon garnered the requisite number of votes from its shareholder class by offering additional compensation to a select group of shareholders within the class, which did not include Neiger LLP’s clients.  The article discusses equal treatment of creditors under Bankruptcy Code section 1123(a)(4) and the doctrine of equitable mootness, which Visteon employed in an attempt to dismiss the appeal.  To read the article and learn about the favorable outcome for the shareholders, click here.  To obtain a PDF of the article click here.  For more details on Neiger LLP’s representation of the Visteon shareholders, please click here.

May 15, 2011

Marianna Udem, Esq. joins Neiger LLP as an associate.  Prior to joining Neiger LLP, Marianna was an associate at Lowenstein Sandler PC, where she worked on behalf of official committees of unsecured creditors, debtors, landlords and unsecured creditors in all aspects of bankruptcy proceedings, related litigation and out of court workouts.  Prior to joining Lowenstein, she was an associate with Forman Holt Eliades & Ravin LLC, a premier boutique bankruptcy law firm.  At Forman Holt Eliades & Ravin LLC, Marianna worked on behalf of debtors, creditors, and trustees in a wide variety of bankruptcy proceedings including complex liquidations and substantial reorganizations.  In addition, Marianna gained substantial experience representing parties in state court insolvency proceedings including assignments for the benefit of creditors, receiverships and foreclosures, as well as, commercial litigation.  For more information on Marianna and for her full bio, please click here.

May 11, 2011

Valdivia Produce Corporation retains Neiger LLP to commence complex PACA bankruptcy case.  On May 11, 2011, Valdivia Produce Corporation d/b/a Hunts Point Tropical filed for chapter 11 in the United States Bankruptcy Court for the Southern District of New York.  A wholesale fruit and distribution company in the Hunts Point Market in the Bronx, New York, Valdivia will wind down its affairs in its liquidating chapter 11 case.  According to Valdivia’s principal Nessim Martinez, Neiger LLP was chosen because of its experience representing debtors in chapter 11 cases, as well as its knowledge of the Perishable Agricultural Commodities Act of 1930, also known as “PACA,” which is a predominant issue in this case.

May 6, 2011

TexStyle LLC Creditors’ Committee retains Neiger LLP.  On May 6, 2011, the Official Committee of Unsecured Creditors in the bankruptcy case of TexStyle LLC, pending in the United States Bankruptcy Court for the Southern District of New York, retained Neiger LLP as its counsel.  TexStyle is a leading designer, manufacturer and marketer of high quality, ready-made, home textiles and accessories, with annual gross revenues of over $16 million.  Neiger LLP represented several other committees in the past and obtained impressive recoveries for the unsecured in those cases.  Neiger LLP intends to explore all avenues in the Texstyle case to ensure the fair treatment of the Creditors’ Committee, who represent the interests of all unsecured creditors.

May 1, 2011

Edward Neiger and Marianna Udem publish landmark article in the Bankruptcy Strategist on the enforceability of claims under “make whole” and “no-call” provisions.  The article articulates the findings and implications of the recent Chemtura decision by Judge Gerber.  In Chemtura, the United States Bankruptcy Court for the Southern District of New York confirmed a plan of reorganization that encompassed a settlement and payment on account of “make whole” and “no call” provisions.  While the Chemtura decision ultimately involved the approval of a settlement reached among the parties, the article discusses the interesting road map laid out in this decision and its potential effect of future litigation.  To read the entire article, click here.

April 2011

Neiger LLP retained by the official committee of unsecured creditors in the Albert Lee Memorial Hospital a/k/a A.L. Lee Memorial Hospital.  Neiger LLP was once again retained by a creditors’ committee to pursue preferences in a bankruptcy case to recover monies for unsecured creditors.  Neiger LLP filed approximately 40 adversary proceedings, of which about half have already been resolved.  Neiger LLP has a specific focus on prosecuting preference actions, and is actively pursuing preferences in the bankruptcy cases of Midway Games, Inc., EOS Airlines, Inc., Saint Mary’s Hospital, Passaic, N.J., and Fleetwood Enterprises, Inc., et al.  Neiger LLP also publishes the Avoidance Action Report, which is a one-of-a-kind publication devoted to the latest case law and developments relating to avoidance actions.  For the latest or past issues of the Avoidance Action Report, visit www.AvoidanceActionReport.com.

March 24, 2011

Neiger LLP attorney Jonathan Bodner moderates NJTMA “Masters of Disaster” panel.  On Mach 24, 2011, a large crowd of undergraduate, MBA graduate, and young turnaround professionals gathered at Seton Hall University’s Jubilee Hall for the “Masters of Disaster” panel co-hosted by the NJTMA and the Center for Entrepreneurial Studies in the Department of Management of Seton Hall University.  The panel included Gerald P. Buccino, Chairman and CEO of Buccino & Associates, Inc., William Giovanniello, Director of BDO Consulting, and Allen Wilen, Partner of EisnerAmper LLP.  Panel topics included an overview of the restructuring industry and the diverse roles of restructuring professionals.  In addition, attendees had the opportunity to learn about employment opportunities within the industry.  “We want young professionals that are interested in learning about a career in the turnaround and restructuring industry to take advantage of this important program,” said Nicholas B. Jalowski, TMA New Jersey Chapter President.  “This is a great opportunity to learn about the wide breadth of opportunities in the industry and to network with industry professionals…”  To view a video of the panel, click here.

March 2011

Neiger LLP retained by the liquidating trustee in Fleetwood Enterprises, Inc.  Neiger LLP was retained by Peter Kravitz of SltnTrst LLC, the duly appointed Liquidating Trustee for the Fleetwood Liquidating Trust, to pursue certain large preference actions to recover monies for unsecured creditors.  Neiger LLP filed adversary proceedings on behalf of the liquidating trustee, with claims totaling approximately $900,000.  Neiger LLP has a specific focus on prosecuting preference actions, and is actively pursuing preferences in the bankruptcy cases of Midway Games, Inc., EOS Airlines, Inc., The Albert Lee Memorial Hospital a/k/a A.L. Lee Memorial Hospital, and Saint Mary’s Hospital, Passaic, N.J.  Neiger LLP also publishes the Avoidance Action Report, which is a one-of-a-kind publication devoted to the latest case law and developments relating to avoidance actions.  For the latest or past issues of the Avoidance Action Report, visit www.AvoidanceActionReport.com.

February 28, 2011

Neiger LLP client Haining Mengnu Group Co. Ltd. (Mengnu) acquires Jennifer Convertibles, Inc. in bankruptcy.   Mengnu, the paramount furniture supplier to national furniture retailer Jennifer Convertibles Inc., retained Neiger LLP to represent it in the chapter 11 bankruptcy case filed by Jennifer Convertibles and eleven of its affiliates on July 18, 2010.  The debtors had no secured creditors, but owed over $35 million in unsecured debt, $17 million of which was owed to Mengnu.  Neiger LLP worked closely with the debtors and their counsel to confirm a plan just six months after the case was filed, which included a novel trade debt-for-equity swap.  Under the plan, 90.% of the reorganized Jennifer Convertibles’ new common stock was granted to Mengnu, and the balance was granted to the remaining unsecured creditors.

February 2011

Neiger LLP retained by creditor trust liquidating trustee in Saint Mary’s Hospital Passaic, N.J.  Neiger LLP was once again retained by a liquidating trustee, Steven A. San Filippo of Traxi, LLC, to pursue a number of preferences in a bankruptcy case to recover monies for unsecured creditors.  Neiger LLP filed over 50 adversary proceedings on behalf of the SMHP Creditor Trust.  Neiger LLP has a specific focus on prosecuting preference actions, and is actively pursuing preferences in the bankruptcy cases of Midway Games, Inc., EOS Airlines, Inc., The Albert Lee Memorial Hospital a/k/a A.L. Lee Memorial Hospital, and Fleetwood Enterprises, Inc., et al.  Neiger LLP also publishes the Avoidance Action Report, which is a one-of-a-kind publication devoted to the latest case law and developments relating to avoidance actions.  For the latest or past issues of the Avoidance Action Report, visit www.AvoidanceActionReport.com.

January 20, 2011

Edward Neiger moderates panel on “Managing Differing Interests in the Chapter 11 Process.”   Edward Neiger moderated a paned hosted by the New York Institute of Credit on January 20, 2011.  The panelists, which included The Honorable James Peck, US Bankruptcy Court, SDNY, John (Jack) Wm. Butler, Co-head of Corporate Restructuring at Skadden Arps, Sheila Smith, National Leader for Reorganization Services of Deloitte FAS LLP and Al Togut, Founder of Togut, Segal & Segal LLP, discussed how bankruptcy professions face differing and often conflicting interests.  In addition, the panelists discussed their views on the future of the restructuring market.  The panel was attended by over 200 professionals.

December 1, 2010

Neiger LLP obtains handsome settlement on behalf of shareholders appealing the Visteon bankruptcy confirmation.  Two shareholders in Visteon Corporation’s bankruptcy case retained Neiger LLP after Visteon confirmed its chapter 11 plan in the Bankruptcy Court for the District of Delaware on August 31, 2010.  The plan afforded a select group of shareholders (not including Neiger LLP’s clients) a recovery valued at almost $9 million, while offering the remaining shareholders in the same class next to nothing.  Neiger LLP appealed the confirmation order, contending that the plan did not satisfy 11 U.S.C.§ 1123(a)(4)’s requirement that all claimholders in a class receive equal treatment.  Neiger LLP also combated Visteon’s assertion that the appeal was equitably moot by presenting three alternative options to remedy the unequal treatment within the shareholders’ class, each of which would not unravel the plan that went effective while the parties were litigating the appeal.  Visteon offered the two shareholders a very favorable settlement offer just days prior to the scheduled hearing, which the shareholders were pleased to accept.

November 18, 2010

Edward E. Neiger, founder of Neiger LLP, to serve as guest lecturer on November 18, 2010 at the Saint Johns School of Law.  Mr. Neiger will be lecturing on the topic of preferences and fraudulent conveyances under chapter 5 of the Bankruptcy Code. Neiger LLP publishes the Avoidance Action Report, which is a quarterly report on the latest developments in case law relating to avoidance actions. To learn more about Neiger LLP’s avoidance action practice, and for past issues of the Avoidance Action Report, please visit www.AvoidanceActionReport.com.

November 10, 2010

Edward Neiger presented with an award for Neiger LLP’s pro bono activities on behalf of the Bankruptcy Assistance Project.  The Bankruptcy Assistance Project is a nationally recognized program that assists low-income individuals who cannot afford to hire a bankruptcy attorney file for bankruptcy.  The award was presented by the Honorable Arthur J. Gonzalez, Chief Judge of the United States Bankruptcy Court for the Southern District of New York and the Honorable Elizabeth S. Stong, of the United States Bankruptcy Court for the Eastern District of New York.

November 1, 2011

The Fall 2010 Winter 2011 Issue of the Avoidance Action Report is currently available.  Access past issues of the Avoidance Action Report.

October 27, 2010

Neiger LLP Sponsors “A View from Both Sides of the Bench” – a luncheon panel featuring the women judges of the United States Bankruptcy Courts in New York.   The event was attended by hundreds of participants, including judges, bankruptcy attorneys and turnarounds professionals.  Each judge panelist spoke about her experience as a judge and her particular path to judgeship.  The panel was moderated by the Honorable Melanie L. Cyganowski, partner at Otterbourg, Steindler, Houston & Rosen, P.C. and former Chief Judge of the United States Bankruptcy Court for the Eastern District of New York.  For pictures of the event click here.

Neiger LLP and ABI sponsor Turnaround Underground. Neiger LLP has been a sponsor of Turnaround Underground since its inception in January 2010. Turnaround Underground provides a networking forum for midlevel restructuring professionals employed by law firms, investment banks and financial institutions.  It has reached more than 800 professionals in the restructuring field.  Turnaround Underground has been featured in articles from leading news sources including Reuters Financial and Time Out New York. For more information please visit http://turnaroundunderground.com/

October 3, 2010

Pro Bono day at Neiger LLP.   On October 24, 2010, clients of the New York Bankruptcy Assistance Project will attend Neiger LLP’s pro bono day where Neiger LLP attorneys will assist them in finalizing their chapter 7 petitions.  The Bankruptcy Assistance Project is a New York based organization assisting pro se individuals who cannot afford attorneys but must nevertheless file for bankruptcy.  Light refreshments will be served.

September 30, 2010

Peter Matt & Co. exits bankruptcy.  Nearly 5 months after Neiger LLP was retained as Debtor’s counsel in Peter Matt, Inc., a renowned private label wine distributor and subsidiary of international wine distributor Monarchia International, the company successfully exited bankruptcy.  Neiger LLP was retained amid a series of complex setbacks for the company and less than one week before Judge Robert D. Drain (SDNY) was to hear a motion to convert the case to one under chapter 7.  Neiger LLP was successful in defeating the motion to convert the case. Additionally, it worked with all parties in interest to allow the Debtor, through its principal Joern Tittel,  liquidate virtually all its remaining inventory in an orderly manner, thus maximizing recovery to Peter Matt’s creditors.  After distributions were made to creditors, Neiger LLP filed a motion to dismiss the case.  Over the objection of the United States Trustee and the creditors’ committee, the case was dismissed on September 30, 2010.  According to Mr. Tittel, Neiger LLP was chosen because of its ability to grasp complex issues and untangle them on an emergency basis, which is exactly what this case needed.

September 2010

Neiger LLP retained by shareholder group to appeal the confirmation of Visteon Corporation.  Visteon, which spun off from Ford Motor Co. in 2000, filed for Chapter 11 in May 2009, listing $4.58 billion in assets and $5.32 billion in liabilities.  Visteon employs about 30,000 workers.  The basis for the appeal is that ordinary shareholders were discriminated against by the Debtor when the debtor entered into a deal with a select group of shareholders comprising the Ad Hoc Equity Committee (AHEC)  whereby (i)  the AHEC was entitled to take part in an equity purchase opportunity worth almost $5 million, and (ii) the debtor would reimburse up to $4.25 million of the AHEC’s legal fees.  These rights and opportunities were not offered to ordinary shareholders, and the ordinary shareholders were not made aware of the deal with the AHEC at the time they voted for (or against) the plan.  The debtor is represented by Kirkland & Ellis LLP and the AHEC is represented by Dewey & LeBoeuf LLP.

August 28, 2010

Neiger LLP retained by ITS Recovery Group LLC to assist with filing for bankruptcy.

ITS Recovery Group specialized in helping victims who have been defrauded by brokers, financial advisors and orchestrators of Ponzi schemes and other criminal financial arrangements who qualified for significant tax benefits under IRS Code 165(c)(2). While the majority of ITS’ client base comprised of securities Arbitrations victims, recently ITS did successfully assist victims of Ponzi schemes as well. According to Anthony Flax, ITS’ principal, ITS chose Neiger, LLP because of its ability to represent debtors in a quick, efficient and cost effective manner.  ITS filed for bankruptcy on September 3, 2010.

July 15, 2010

Neiger LLP retained by Chinese company Heining Mengnu Group Co., Ltd. to represent it in the bankruptcy case of Jennifer Convertibles, Inc.  Mengnu is Jennifer Convertibles’ largest creditor and signatory to a plan support agreement pursuant to which Mengnu will convert its debt into Jennifer Convertible’s equity, providing Mengnu a majority and controlling stake in the reorganized Jennifer Convertibles.  Jennifer Convertibles is a renowned national furniture chain that filed for bankruptcy on July 18, 2010.

July 6, 2010

Jonathans S. Bodner, Esq. joins Neiger LLP.   Jonathan’s practice includes representing chapter 7 and chapter 11 debtors, distressed companies in out of court restructurings, litigation on behalf of fiduciaries, prosecuting and defending avoidance actions, and representing a diverse array of secured and unsecured creditors in bankruptcy and state court insolvency proceedings.  Prior to joining Neiger LLP, Jonathan was an associate with Forman Holt Eliades & Ravin LLC, a premier boutique bankruptcy law firm.  At Forman Holt Eliades & Ravin LLC, Jonathan represented debtors, creditors, and trustees in a wide variety of bankruptcy proceedings including complex liquidations and substantial reorganizations.   In addition, Jonathan gained substantial experience representing parties in state court insolvency proceedings including assignments for the benefit of creditors, receiverships and foreclosures.  For more information, please visit http://www.neigerllp.com/people/jonathan-s-bodner.

June 28, 2010

Edward E. Neiger, founder of Neiger LLP, to serve as guest lecturer on November 18, 2010 at the Saint Johns School of Law.  Mr. Neiger will be lecturing on the topic of preferences and fraudulent conveyances under chapter 5 of the Bankruptcy Code. Neiger LLP publishes the Avoidance Action Report, which is a quarterly report on the latest developments in case law relating to avoidance actions. To learn more about Neiger LLP’s avoidance action practice, and for past issues of the Avoidance Action Report, please visit www.avoidanceactionreport.com.

June 8, 2010

Neiger LLP retained by liquidating trustee in bankruptcy case of In re Midway Games, et al. to prosecute and recover over $90 million in fraudulent and preferential claims and transfers.   According to Lee E. Buchwald, President of Buchwald Capital Advisors LLC the liquidating trustee for Midway Liquidating Trust, Neiger LLP was chosen for its particular experience in the field of prosecuting and defending avoidance actions in a cost effective and efficient manner.  Neiger LLP publishes the Avoidance Action Report, which is a quarterly report on the latest developments in case law relating to avoidance actions.  Past issues of the Avoidance Action Report can be found at www.avoidanceactionreport.com

August 25, 2010

Neiger LLP retained by creditors of Generational Art Productions, Inc., commonly known as Gen Art, to file an involuntary bankruptcy against the company.  The 16-year-old organization was known for supporting emerging talent, clientele included celebrities such as Zac Posen and Adrian Grenier.  Lead petitioning creditor Richard Seet stated that Neiger LLP was chosen because of its ability to coordinate the effort on a quick timetable and in a cost-effective manner.

May 7, 2010

Edward Neiger, founder of Neiger LLP, opines on the non-dischargeability of spousal support in a bankruptcy and how the laws relating to such support are implicated by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.  The full article can be found at: http://www.creditcards.com/credit-card-news/herigstad-bankruptcy-spousal-child-support-1294.php

Source:  www.creditcards.com

 February 11, 2010

Latest BankruptcyBill cartoon features Neiger LLP.  To view the cartoon, please click here.

February 2010

ASK Financial LLP retains Neiger LLP  to serves as its co-counsel to assist with the prosecution of over 1,700 preference actions in the bankruptcy case of Quebecor World (USA) et al.  Edward Neiger also serves as of counsel to ASK Financial LLP and manages its New York office.  ASK Financial LLP is the premier law firm handling large scale preference actions, and successfully prosecuted over  20,000 preference actions recovering more than $220 Million in the past decade.  According to ASK’s managing partner Joe Steinfeld, Neiger LLP was chosen because of its “unique expertise in preference law and high quality work product that our cleints have come to expect.”  For more information on ASK Financial LLP, please visit www.askfinancial.com.

January 27, 2010

Neiger LLP was proud to sponsor the January 2010 Turnaround Underground networking event for mid-level restructuring professionals.  Attendees enjoyed 2 hours of open bar and an opportunity to meet and interact with their peers in the industry.  The event received rave reviews by the national media, including Reuters and ABC News.  To view the stories, click on the following links:  http://www.reuters.com/article/idUSN289949320100128?type=marketsNews  http://abcnews.go.com/US/wireStory?id=9682908

Sources:  www.reuters.com and www.abcnews.com

January 25, 2010

Edward Neiger opines on the “snowball” effect that will result if small business cannot survive the current downturn of the economy.  For the full story, please click on the following link: http://smallbusiness.aol.com/article/_a/as-business-bankruptcies-rise-is/20100118001109990001

Source: www.aol.com

January 19, 2010

Neiger LLP was retained by the chapter 7 trustee to prosecute avoidance actions in the National Sports Museum Management, LLC and National Sports Attraction, LLC bankruptcy cases.  Neiger LLP focuses on prosecuting and defending preferences actions, and publishes the Avoidance Action Report, a one-of-a-kind quarterly publication devoted to the latest case-law developments related to avoidance actions.  For more information on Neiger LLP’s avoidance action practice, visit www.avoidanceaction.com.

January 4, 2010

Neiger LLP was retained by the Official Committee of Unsecured Creditors to prosecute avoidance actions in the Hydrogen LLC bankruptcy pending in the Southern District of New York.  Neiger LLP is at the fore of prosecuting and defending preferences actions, and publishes the Avoidance Action Report, a one-of-a-kind quarterly publication devoted to the latest case-law developments related to avoidance actions.  For more information on Neiger LLP’s avoidance action practice, visit www.avoidanceaction.com.

December 24, 2009

Edward Neiger comments on the legal and practical effect that the bankruptcy filing of a spouse may have on the other spouse.  For the full story please click on the following link:  http://www.foxbusiness.com/story/personal-finance/hold-collectors-bay-keeping-accounts-current

Source: www.foxbusiness.com.

November 4, 2009

Edward Neiger was presented with an award for Neiger LLP’s pro bono activities on behalf of the Bankruptcy Assistance Project.  The Bankruptcy Assistance Project is a nationally recognized program that assists low-income individuals who cannot afford to hire a bankruptcy attorney file for bankruptcy.  The award was presented by the Honorable Stuart M. Bernstein, Chief Judge of the United States Bankruptcy Court for the Southern District of New York and the Honorable Carla E. Craig, Chief Judge of the United States Bankruptcy Court for the Eastern District of New York.

November 2, 2009

Edward Neiger again appears on the nationally aired Nightly Business Report on PBS to comment on the CIT bankruptcy filing.  A full transcript of the interview could be obtained here.  http://www.pbs.org/nbr/site/onair/transcripts/nbr_transcripts_091102

Source: http://www.pbs.org

November 1, 2009

Please join the New York Institute of Credit on November 10, 2009 for the kickoff event of the Future Leaders division.  The event will allow younger restructuring professionals to meet and interact with current industry leaders, including bankruptcy judges and influential restructuring lawyers and financial advisors.  For more information, please download the event flyer

October 30, 2009

Edward Neiger to speak at New York Real Estate Expo 2009

Edward E. Neiger will be speaking at the annual New York Real Estate Expo on October 30, 2009.  The topic of discussion will be “How the Bankruptcy Code can help real estate investors.”  For more information and to register, please visit www.nycrealestateexpo.com.  If you would like to attend, please rsvp to info@neigerllp.com.

September 30, 2009

Neiger LLP delivers a decisive victory for the creditors’ committee in the DBSD bankruptcy, which it represents as conflicts counsel.  On September 30, 2009, the Honorable Bankruptcy Judge Robert E. Gerber (S.D.N.Y.) ruled in favor of the debtor and committee and against Sprint and the Federal Communications Commission in a question relating to jurisdiction over Sprint’s $250 million claim against DBSD, which is represented by Kirkland & Ellis.  In his opinion, Judge Gerber stated that he was “compelled” by the committee’s arguments and cited the committee’s brief three times.  Sprint is appealing the decision.  To access Judge Gerber’s opinion, click here.  To access the committee’s brief, click here.

September 17,  2009

Edward E. Neiger discusses the recent Bankruptcy Rule 2004 discovery motion of Law Debenture Trust Company in the Tribune bankruptcy with the Hedge Fund Law Report.  Neiger discussed how the motion may impact various levels of Tribune securities and debt in the short and long term.

Source: http://www.hflawreport.com Hedge Fund Law Report, Vol. 2 No. 37 (Sep. 17, 2009). (subscription required)

September 15, 2009

The September 2009 Issue of the Avoidance Action Report is currently available. Access past issues of the Avoidance Action Report.

August 2009

Neiger LLP makes headway in jewelry bankruptcies. 

After skillfully representing the creditors’ committee in the bankruptcy of jewelry manufacturer First Class Imports Inc. and negotiating a significant payout to unsecured creditors notwithstanding that secured debt exceeded unsecured debt by 300%, Neiger LLP was retained by the unsecured creditors’ committee in the bankruptcy of international jewelry designer Doris Panos Ltd. (http://www.dorispanos.com/).   Counsel to the committee’s chairperson, Lloyd Weinstein, Esq. of the Weinstein Group (http://www.theweinsteingroup.net/), a prominent commercial litigation law firm, stated that the committee chose Neiger LLP because of its experience in the jewelry industry as well as its ability to think “outside the box” and implement strategies that maximize creditor recovery.

July 2009

Neiger LLP announces creation of distressed-debt practice.

Headed by Karl Schaffer, Esq., chairperson of the distressed-debt practice group, Neiger LLP’s team of attorneys will assist clients in secondary loan trading and distressed debt transactions with the high level of skill and dispatch required by today’s debt trading market.  The firm’s attorneys have considerable experience in documenting transactions involving syndicated loans, bilateral loans and bankruptcy claims using LSTA and LMA documents as well as agreements specifically-tailored to individual credits.  For more information, please access the following link.

June 12, 2009

On June 12, 2009, several creditors of Lessno LLC, a discount airfare website, commenced an insolvency bankruptcy proceeding in the United States Bankruptcy Court for the Eastern District of New York. The lead creditor chose Neiger LLP because of its experience in creditor’s rights as well as its familiarity with the bankruptcy process in New York City.

June 10, 2009

On June 10, 2009, Edward E. Neiger, founder of New York bankruptcy law firm Neiger LLP sat down with CNN to discuss the Chrysler bankruptcy and the sale of Chrysler’s assets to Fiat. Access the entire article.

Source: http://money.cnn.com/

May 26, 2009

On May 26, 2009, Edward Neiger, founder of New York bankruptcy law firm Neiger LLP appeared on the evening broadcast of the Nightly Business Report, which aired nationally on PBS, to discuss the impending General Motors Bankruptcy. Neiger discussed how a General Motors bankruptcy might impact the economy as well as affect other bankruptcy cases. Read a transcript of the interview.

Source: http://www.pbs.org/

May 24, 2009

International British news outlet the Guardian quotes Edward Neiger of Neiger LLP, the New York bankruptcy law firm as the world braces for the financial impact of the General Motors bankruptcy in the wake of the bankruptcy of auto maker Chrysler. Read the full article.

Source: http://www.guardian.co.uk/

May 14, 2009

On May 14, 2008, MGB8 LLC, a New York based company filed for chapter 11 bankruptcy protection in the Bankruptcy Court for the Southern District of New York. MGB8 is a company focusing on buying multi-million dollar distressed notes. It retained Neiger LLP to help it restructure and reorganize because of Neiger LLP’s experience in complex corporate reorganization and bankruptcy in Brooklyn, New York and New York City.

May 13, 2009

Edward E. Neiger sits down with the Wall Street Journal “Bankruptcy Beat” blog to discuss the recent avoidance action and preference action under sections 547 and 548 of the bankruptcy code against Greg LeMond, the three-time winner of the Tour de France. Yellow Stone Club, with whom LeMond entered into a $28 million dollar settlement, was sued as Yellow Stone sought to recover the money it paid LeMond before it filed for bankruptcy. Neiger discussed potential defenses LeMond could assert so that he could keep the money he was paid. Read the entire article.

Source: http://online.wsj.com

Neiger LLP publishes the Avoidance Action Report, which is a quarterly report on the latest court decisions related to Avoidance Actions and Preference Actions.

Access past issues of the Avoidance Action Report.

May 6, 2009

Neiger LLP was retained to represent the creditors’ committee of We Recycle!, a large recycling company located in Connecticut and New York. We Recycle! is at the forefront of recycling technology and suffered financially as a result of the weakened economy and the downturn in the commodities markets. According to the committee’s chairperson, the committee chose Neiger LLP because of its experience representing creditors in a bankruptcy and its familiarity with the bankruptcy courts in New York City, where the bankruptcy case is pending.

March 25, 2009

The March 2009 issue of the Avoidance Action Report is currently available. Access past issues of the Avoidance Action Report.

March 16, 2009

Neiger LLP and The Icahn Report join forces to expose waste occurring in corporate bankruptcies. In an article entitled “Bankruptcy Reform: A Necessary Component of Economic Recovery,” Edward Neiger, founder of bankruptcy law firm Neiger LLP, discusses how corporate executive greed, which was a contributing factor to the current economic recession, is, unfortunately, allowed to prevail during the bankruptcy process. Carl Icahn has long been a proponent of shareholder rights and corporate reform. For the full story please click on the following link: Bankruptcy Reform: A Necessary Component of Economic Recovery (March 16,2009).

Source: http://www.icahnreport.com/

February 20, 2009

Neiger LLP was retained to represent the creditors’ committee of First Class Imports in the Eastern District of New York. First Class Imports is a multi-million dollar jewelry company that was forced into bankruptcy by because of a large robbery it experience and the declining economy. Because jewelry is a luxury commodity, the jewelry retail sector has been hit particularly hard by the economic downturn. According to the committee’s chairperson, the committee chose Neiger LLP because of its experience representing creditors in a bankruptcy and its familiarity with the bankruptcy courts in Brooklyn, New York.

January 25, 2009

The January 2009 issue of the Avoidance Action Report is currently available. Access this issue’s articles or download a copy of the Avoidance Action report.

January 20, 2009

The recent economic recession has affected corporations of all sizes and industries and has hurt individuals of all types. On January 20, 2009, Edward Neiger, founder of the New York bankruptcy law firm Neiger LLP, discussed “secrets of surviving bankruptcy” which was reported by Fox Business. For the full story click on the following link. FoxBusiness.com Secrets of Surviving Bankruptcy (January 20,2009).

Source: http://www.womenentrepreneur.com/, http://www.foxbusiness.com/index.html

December 22, 2008

Edward E. Neiger, founder of Neiger LLP, a boutique bankruptcy law firm located in New York, New York, speaks with CNN about the auto industry and potential car company bankruptcies. For the full story click on the following link. CNNMoney.com. Americans back auto bailout – for now (interview dated December 22, 2008).

Source: http://money.cnn.com/

October, 2008

Neiger LLP Bankruptcy Law Firm Launches in Lower Manhattan.

New York, NY. The launch of Neiger LLP, a law firm focusing on debt reduction, creditors’ rights and bankruptcy law, was announced today in Lower Manhattan.

“Neiger LLP provides clients with the work product of a large international law firm and the personal attention of a boutique firm,” explains founder Edward E. Neiger. “We walk hand-in-hand with clients, consisting of both debtors and creditors, and help them make informed and intelligent and decisions as they navigate today’s difficult financial conditions.”

Neiger LLP founder Edward E. Neiger has published numerous articles on bankruptcy-related topics and was recently quoted by CNNMoney.com and Turnarounds & Workouts Magazine. Prior to founding Neiger LLP, Mr. Neiger worked on some of the larger bankruptcies of the last decade including Parmalat, Atkins, Ames and Vertis as an attorney at the law firm of Weil, Gotshal, and Manges LLP.