“[Neil] Berger and [Albert] Togut have a tremendous amount of experience in [trustee] matters, and their competency in arriving at [this settlement] and the approaches that they took is without question. . . . [I] extend my thanks to — to Mr. Togut. This is a difficult case, and you folks have come in, and helped bring stability, and a way out. So I appreciate that very much.”
Hon. James L. Garrity, Jr., U.S. Bankruptcy Court for the Southern District of New York
In re 2070 Restaurant Group, LLC, Case No. 18-12323 (JLG) 

Togut, Segal & Segal “has managed to deliver a spectacular result for these estates through a lot of hard work, and hard work that I would also note is done in an efficient and a professional manner.”
Hon. Shelley C. Chapman, U.S. Bankruptcy Court for the Southern District of New York
In re Aurora Commercial Corp., Case No. 19-10843 (SCC) 

Togut, Segal & Segal’s services are a “textbook example” of how bankruptcy projects should be handled in a timely and cost-efficient manner.
Hon. Robert E. Gerber (ret.), U.S. Bankruptcy Court for the Southern District of New York
In re PLVTZ, Inc., Case No. 07-13531 (REG)

“The Togut Firm managed its work well and staffed it tightly with timekeepers with appropriate experience and billing rates.  It handled every type of bankruptcy matter very efficiently as attested by the . . . favorable dollars-recovered-to-fees-billed-ratio.”
Recommendation and Advisory Report of the Enron Fee Committee on the Final Compensation of Togut, Segal & Segal LLP

“I was very happy with the way you tried to build consensus in this case . . . and that you were able to get this case to go through Chapter 11 very smoothly.”
Hon. Robert E. Gerber (ret.), U.S. Bankruptcy Court for the Southern District of New York
In re Loehmann’s Holdings Inc., Case No. 10-10677 (REG)

“Al Togut is, I would say, beloved among bankruptcy professionals here in New York and across the Country. He’s tough, he’s smart, he’s a dealmaker, he’s practical, he’s considered one of the deans of the bankruptcy bar, and I know that all of the Judges that I have the pleasure to serve with in the Southern District of New York are always happy when Team Togut appears in our cases.”
Hon. Shelley C. Chapman, introduction of Al Togut during panel discussion “Troubled Non-U.S. Airlines Landing in Chapter 11”
at American Bankruptcy Institute International Insolvency Forum (November 19, 2020)

Our Firm

  • Togut, Segal & Segal is a highly specialized “boutique” law firm with a national reputation for excellence in bankruptcy, including corporate reorganization, fiduciary representation, and creditors’ rights.
  • Established in 1980, the Togut Firm has extensive expertise in representing Chapter 11 debtors, creditors’ committees, retiree committees, secured and unsecured creditors, and trustees, having served as court-approved counsel in hundreds of cases.

Our Promise

  • Our clients have our undivided loyalty – unlike firms with a massive client base, the Togut Firm has chosen to refuse to represent regular retainer clients (such as banks, investment funds, and other large financial institutions) to maintain our strict independence.
  • For decades, the Togut Firm’s cost-effective excellence in bankruptcy has delivered value-added service at a below-market cost to high-profile large companies, multinational companies, and midmarket companies that need to restructure in or out of court.

Recent News

  • Togut, Segal & Segal co-authors article with Cleary Gottlieb in the ABI Journal addressing the treatment of shareholders under foreign law and the U.S. Bankruptcy Code.
    • In the April 2021 edition of the American Bankruptcy Institute Law Journal, partner Kyle J. Ortiz and co-authors Richard J. Cooper and Thomas S. Kessler of Cleary Gottlieb Steen & Hamilton LLP discuss the treatment of equity under foreign law and the U.S. Bankruptcy Code.
  • Togut, Segal & Segal, as counsel for the chapter 7 trustee of 2070 Restaurant Group LLC and Genesis Food Group LLC, a restaurant in upper Manhattan, obtained bankruptcy court approval of a global settlement resolving all claims and counterclaims by and between the debtors and various parties, including the debtors’ landlord and counterparties to a disputed contract for the sale of the debtors’ business. Judge Garrity went out of his way to say, “[Neil] Berger and [Albert] Togut have a tremendous amount of experience in [trustee] matters, and their competency in arriving at [this settlement] and the approaches that they took is without question. . . . [I] extend my thanks to — to Mr. Togut. This is a difficult case, and you folks have come in, and helped bring stability, and a way out. So I appreciate that very much.”.
  • Al Togut, founder of Togut, Segal & Segal, was quoted in a Bloomberg News article discussing the potential impacts of rising corporate debt on the country’s path to financial recovery.
    • The Bloomberg News article can be found here.
  • Kyle Ortiz of Togut, Segal & Segal recently presented on a panel discussion concerning Cross-Border Mediation of Insolvency-Related Disputes as part of the ABI Winter Leadership Conference held on December 4, 2020.
  • Togut, Segal & Segal assists the Ad Hoc Group of Seller Notes in Lakeland Tours, LLC d/b/a WorldStrides in negotiating a consensual settlement with the debtors, paving the way for an uncontested Chapter 11 plan that was ultimately confirmed.
    • The settlement provides for a distribution of more than $1.3 million to the Ad Hoc Group of Seller Notes, after an initial proposal of zero dollars under the debtors’ original plan. The settlement protects the interests of the Ad Hoc Group and will allow the debtors to emerge from bankruptcy stronger and poised to take advantage of the eventual recovery in the travel industry.
  • Al Togut, founder of Togut, Segal & Segal, was recently interviewed by Who’s Who Legal who recognized him as a 2020 Thought Leader in the field of Restructuring & Insolvency for 2020 (and has since recognized him again as a 2021 Global Leader)
    • The interview can be found here.

This page may contain excerpts of judicial opinions regarding specific legal issues. It is not an endorsement of abilities.