News and Events
February 11, 2010
Latest BankruptcyBill cartoon features Neiger LLP. To view the cartoon, please click here.
February 2010
Edward Neiger was retained by ASK Financial to assist it with prosecuting over 1,700 preference action in the Quebecor World (USA) bankruptcy pending in the Southern District of New York. ASK Financial is a leading national law firm specializing in prosecuting avoidance actions. ASK Financial has successfully prosecuted preference action in such high-profile bankruptcies as Whitehall Jewelers, Hechinger Investment Company and Montgomery Ward, to name a few. For more information about ASK Financial, 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.