Albert Togut

Albert Togut

Managing Partner
Location:
New York, New York
Phone:
212-594-5000
Fax:
212-967-4258
Email:

For the past 44 years, Albert Togut has specialized in bankruptcy law to the exclusion of all other areas of practice. In 1980, he formed the firm of Togut, Segal & Segal LLP, a bankruptcy boutique.

The firm has served as court-authorized counsel to the debtor or official committee, or principal owner in some of the largest and highest profile Chapter 11 cases, including Pacific Drilling (lead Debtor's counsel), Toisa Shipping (lead Debtor's counsel , Westinghouse (lead Debtor's counsel for non-U.S. Debtors), Sun Edison (co-counsel with Skadden to the Debtors), Aeropostale (co-counsel with Weil to the Debtors), American Airlines (co-counsel with Skadden to the UCC), Kodak (co-counsel with Milbank to the UCC), General Motors (conflicts counsel with Weil to the Debtors), Chrysler Automotive (co-counsel with Jones Day to the Debtors), Dewey & LeBeouf (lead counsel to the Debtors), Relativity Media (counsel to the UCC), Avaya (conflicts counsel with Weil to the Debtors), Nautilus (counsel to the principal owner), Ambac Financial, AbitibiBowater Inc. (for the BCFC Debtor in the cross-border multibillion dollar restructuring); A&P (conflicts counsel with KIirkland to the Debtors), Enron (co-counsel with Weil to the Debtors), Delphi Automotive (conflicts counsel with Skadden to the Debtors), Collins & Aikman, St. Vincent's Hospitals, Charter Communications, Loehman's, Frontier Airlines, Tower Automotive, Winn-Dixie, Ames Department Stores, Loew's Cineplex, SK Global, Daewoo International (America) Corp. (which together with its Korean parent underwent the largest non-sovereign debt restructuring in history with aggregate liabilities exceeding $70 billion); Allegiance Telecom, OnSite Access, joan and david helpern inc. (the famous luxury footwear and accessory retail chain); and ContiFinancial Corporation, et al. (consumer finance companies responsible for originating, purchasing, selling and/or servicing billions of dollars in home equity loans).

The firm was also lead Debtor's counsel to Rockefeller Center Properties, et al., Case No. 95 B 42089 (PCB), and Olympia & York Tower B Company, Case No. 96 B 42186 (JLG), better known as the World Financial Center, which involved a $1 billion restructuring of a 43-story commercial office building located at Two World Financial Center at Battery Park in Manhattan. Mr. Togut served as lead counsel to Grubb & Ellis, Co., an international real estate brokerage and property management company, with more than 100 offices and revenue exceeding $500 million that was sold as a going concern in a transaction approved by the Bankruptcy Court in less than 45 days following the commencement of the Chapter 11 case.

Since 1981, he has been an active member of the trustee panel maintained by the Department of Justice in the Southern District of New York and has served as Trustee in bankruptcy in several thousand bankruptcy cases, under Chapter 11 and Chapter 7 of the Bankruptcy Code, including Refco, LLC (registered commodities broker) which at $4 billion, is the largest Chapter 7 case in the history of bankruptcy; Anthracite Capital, Inc., a specialty real estate finance company that invested in commercial real estate assets; Kingston Square (which owned apartment complexes subject to secured claims of approximately $400 million), and Axona International Credit & Commerce Limited (the liquida- tion of a Hong Kong banking institution).

Mr. Togut is registered as a mediator in the Southern District of New York. He was appointed Mediator for the dispute with the Noteholders of Solutia Inc, et al (Case Nos. 03-17949 PCB) that was settled for $220.5 million. In Calpine, he represented the Court-appointed valuation expert who was appointed to assist the Court in evaluating the $10 billion spread between competing estate values which Mr. Togut resolved by consensual agreement of the parties allowing the Court to have an uncontested confirmation hearing. Mr. Togut was asked to mediate close to 100 adversary proceedings which were commenced in the Conseco cases in Chicago, nearly all of which he settled.

Mr. Togut is a Fellow of the American College of Bankruptcy, a Fellow of the International Insolvency Institute, co-Chair of the Commission of the American Bankruptcy Institute ("ABI") that studied the reform of Chapter 11 and past Officer and ABI Director and Chair of its New York City program; he also served on the ABI's fee-study commission that studied professional fees in chapter 11 business bankruptcy cases. The ABI's fee commission's report provides the most comprehensive, independent look at professional fees in chapter 11 cases to date. Mr. Togut was twice a member of the Committee on Bankruptcy and Reorganization of the Association of the Bar of the City of New York, a member of the International Bar Association, and is an Advisory Board member of the LLM in Bankruptcy program at St. John's University School of Law, a past President of the Bankruptcy Lawyers Bar Association of New York.

For six years, he chaired a Task Force of the Business Bankruptcy Committee of the American Bar Association, Section of Business Law, that analyzed disclosure statement requirements and confirmation practices in Chapter 11 cases. He has written and lectured on many topics under the former Bankruptcy Act and current Bankruptcy Code and has particular expertise in conflicts of interest and ethics. He has received the New York Institute of Credit Leadership Award and was also the recipient of the Prof. Lawrence P. King award. He was named as a New York Super Lawyer for 2007-18 and named in the Top 100 lawyers in New York, and has been repeatedly chosen as a "Leading Lawyer by Chambers USA.

Mr. Togut is admitted to the New York bar, U.S. District Court, Southern, Eastern Districts of New York, and Eastern District of Michigan, U.S. Court of Appeals, Second Circuit, and U.S. Supreme Court. He has degrees from New York University (B.S., 1971) (Beta Gamma Sigma. Founders Day Scholar) and St. John's University (J.D., 1974).

Areas of Practice

  • 100% Corporate Reorganization, Creditor Rights and Bankruptcy

Litigation Percentage

  • 30% of Practice Devoted to Litigation

Bar Admissions

  • New York, 1975
  • U.S. District Court Eastern District of New York, 1975
  • U.S. District Court Southern District of New York, 1975
  • U.S. Court of Appeals 2nd Circuit, 1975
  • U.S. Supreme Court, 1978
  • U.S. District Court Eastern District of Michigan, 2007

Education

  • St. John's University School of Law, Queens, New York
    • J.D. - 1974
  • New York University, New York, New York
    • B.S., Bachelor of Science - 1971
    • Honors: Founders Day Award
    • Major: Economics

Published Works

Honors and Awards

  • UJA Bankruptcy & Reorganization Section Lawrence P. King Award of Distinction, 2007 - Present
  • NY Institute of Credit Contribution Award, 2011 - Present

Professional Associations and Memberships

  • Federal Bar Council, Bankruptcy Litigation Committee, 2014 - Present
  • American College of Bankruptcy, Fellow, 2002 - Present
  • American Bankruptcy Institute, Director, Board Member, 2008 - Present
  • Leading Lawyer for Bankruptcy/Restructuring in Chambers USA, 2011 - Present
  • International Insolvency Institute, Fellow, 2008 - Present
  • International Association of Restructuring, Insolvency and Bankruptcy Professionals (INSOL), Member, 1991 - Present
  • National Association of Bankruptcy Trustees, Member
  • Bankruptcy Lawyers Bar Association, President/Board Member, 1983 - 1992
  • St. John’s University LLM in Bankruptcy, Board Member, 1998 - Present
  • International Bar Association, Committee J, Member, 2000 - Present
  • Association of the Bar of the City of New York; New York State, Member, 1975 - Present
  • American Bar Association, Member, 1975 - Present

Pro Bono Activities

  • Vice-Chair, Bankruptcy & Reorganization Group, UJA-Federation of New York, 2009 - Present
  • Chairman of Board of Berkshire International Film Society, 2005 - Present
  • Boston Symphony Orchestra Board of Overseers, 2004 - Present

Languages

  • English (Primary)