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 was awarded the TMA 2020 Large Company Turnaround of the Year Award for its role as one of several advisers (along with co-counsel at Skadden Arps) to Trident Health, a home health care and diagnostic testing business operating in 35 states that restructured its debt and operations in Chapter 11.
  • With the firm’s assistance, Trident restructured more than $800 million in debt pursuant to a Chapter 11 plan of reorganization, confirmed just seven months after the case was filed.
  • Latin America’s leading airline, LATAM Airlines Group S.A., and certain of its affiliates file for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York with Togut, Segal & Segal as its co-counsel along with Cleary Gottlieb.
  • The bankruptcy cases are part of LATAM’s global strategy to restructure its debt of more than $7.5 billion and its passenger and cargo operations serving dozens of countries on five continents.
  • Togut, Segal & Segal obtains confirmation of a Chapter 11 plan of liquidation for two subsidiaries of Lehman Brothers after a contentious but ultimately largely consensual 14-month in-court process.
  • Judge Chapman, overseeing the case, noted that the firm “managed to deliver spectacular results for these estates through hard work, and hard work that I would also note is done in an efficient and professional manner.”
  • 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)