“[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 LLP and Three Partners Recognized in Chambers USA 2021 Rankings (Restructuring, New York)
    • Togut, Segal & Segal LLP and three of its partners, Albert Togut, Frank Oswald, and Kyle Ortiz, were recognized by Chambers and Partners in its 2021 ranking of law firms and lawyers in the United Stated.  The Togut Firm was recognized as a Band 5 firm in the “Bankruptcy/Restructuring: The Elite” category in New York.
  • Kyle Ortiz of Togut Segal & Segal LLP Named Co-Chair of the ABI’s International Committee, Scheduled to Speak at INSOL Virtual 2021 Event
    • Togut Segal & Segal LLP congratulates partner Kyle Ortiz on his appointment as co-chair of the American Bankruptcy Institute’s International Committee.  Mr. Ortiz has been an active member of ABI’s International Committee for years and is a frequent writer  on international insolvency topics.  He has also been as recognized on ABI’s 40 under 40 list.
  • Al Togut Appointed as Chapter 7 Trustee for Kossoff PLLC
    • On May 12, 2021, the Office of the United States Trustee appointed Al Togut of Togut, Segal & Segal LLP as the the Chapter 7 trustee for Kossoff PLLC, a real estate law firm that was forced into an involuntary Chapter 7 bankruptcy proceeding after the firm and its founder were named in several lawsuits alleging fraud and misappropriation of millions of dollars of client escrow funds.  Among other things, the case involves the alleged disappearance of Mitchell Kossoff, the firm’s founder and a high profile real estate lawyer who had represented many of Manhattan’s largest landlords.
  • 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.  As more and more restructurings involve cross-border issues, the article provides key insights on how shareholders may (or may not be) impacted by the insolvency laws of varying— and sometimes competing—jurisdictions.
  • Togut, Segal & Segal provides case study to the ABI Health Care Committee on important decision impacting hospital and health care restructurings
    • In a March 12, 2021 case analysis provided to the ABI Health Care Committee, partner Frank A. Oswald and associate Minta J. Nester explain a recent decision from the Court of Appeals for the Ninth Circuit where the court held certain deductions of unpaid fees and payments by California State’s Medicaid program constituted impermissible setoffs and violated the automatic stay.
  • Co-counsel Togut, Segal & Segal LLP and Meyer Suozzi Obtain Confirmation of Rubie’s Costume’s Chapter 11 Plan of Liquidation
    • At a hearing on March 17, 2021, co-counsel Togut, Segal & Segal LLP and Meyer, Suozzi, English & Klein, P.C. obtained confirmation of a chapter 11 plan of liquidation for Rubie’s Costume Company, Inc. and its affiliated debtors, a 65-year old family owned company based in Melville, New York, on a fully consensual basis.

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