Professional Partnership Bankruptcies Trustee

When a debtor is a professional partnership such as a law firm, the legal issues surrounding its dissolution can be very challenging. Togut, Segal & Segal has played a leading role in the Chapter 11 bankruptcies of major law firms and other professional partnerships.

Contact our New York law firm online today, or call 212-594-5000 to speak to an experienced Chapter 11 corporate bankruptcy lawyer about your needs.

A History of Excellence: New York Chapter 11 Lawyers

Our lawyers have decades of experience in resolving the challenges presented by the bankruptcies of professional partnerships. In the early 1990s, our firm served as counsel to the official committee of unsecured creditors and our senior partner, Albert Togut, served as post-confirmation trustee in the Chapter 11 bankruptcy of Finley Kumble, then the fourth largest law firm in the United States. Since then, Togut, Segal & Segal has served in the same capacity in several capacities in Chapter 11 cases involving prominent New York law practices, including Shea & Gould, Bower & Gardner and Berger Steingut. In each of these cases, Mr. Togut completed the bankruptcy case as Trustee.

Thus, in the Finley Kumble, Shea & Gould and Bower & Gardner cases, we were also counsel to the post-confirmation trustee under Chapter 11 liquidating plans, with primary responsibility for maximizing the value of the debtor law firms' assets by obtaining agreements for partner contributions to settlements with creditors under Chapter 11 plans that were successfully confirmed. Most of these claims involved the recovery of avoidable preference payments.

Mr. Togut has more than 30 years of experience as a trustee.

Maximizing Value and Minimizing Expenses in Professional Practice Bankruptcy

Our attorneys' ability to identify, protect and even create value for the debtor's estate can make a significant difference to unsecured creditors and administrative claimants in professional practice Chapter 11 cases.

Contact a Professional Partnership Dispute Lawyer: New York City

Speak to an experienced Chapter 11 bankruptcy attorney about your partnership dispute by calling 212-594-5000. You may also contact our firm online and a member of our team will be in touch shortly to discuss your situation.