Outstanding Client Service In Corporate Bankruptcy

Togut, Segal & Segal LLP is the oldest and best restructuring “boutique” law firm in the country. It has a national reputation for cost-effective excellence in bankruptcy cases of all sizes, corporate reorganizations, and creditors’ rights. Established in 1980, the Togut Firm has extensive expertise in representing Chapter 11 debtors, creditors’ committees, secured and unsecured creditors, retiree committees, and bankruptcy trustees, having served as court-approved counsel in hundreds of cases. The firm has worked in many marquee cases, including LATAM Airlines, McClatchy Newspapers, Westinghouse, Enron, General Motors, Chrysler, American Airlines, and many more. The firm’s senior partner, Albert Togut, is widely considered to be one of the “deans” of the bankruptcy bar and regarded as one of the best restructuring attorneys of our time.

Work With An Accomplished Legal Team

Mr. Togut has more than 45 years of bankruptcy experience and is AV Preeminent peer-review rated* through Martindale-Hubbell, as are all three of his partners, Frank Oswald, Neil Berger and Kyle Ortiz. All four partners have been included in New York Super Lawyers for multiple years, and Mr. Togut is one of only six bankruptcy attorneys named to Super Lawyers magazine’s Top 100 list. He is also a fellow of the American College of Bankruptcy and International Insolvency Institute, both invitation-only honorary groups. He and attorney Oswald are recognized by Chambers. Mr. Togut also co-chaired a blue-ribbon commission of the American Bankruptcy Institute that has made recommendations for Chapter 11 reform. The commission’s recommendations led to Congress’ recently enacted small business reorganization provisions. This level of recognition reflects the knowledge and expertise that is the foundation of our reputation for effective client service and integrity that our firm has established and maintained for decades.

*AV®, AV Preeminent®, Martindale-Hubbell Distinguished and Martindale-Hubbell Notable are certification marks used under license in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell® is the facilitator of a peer-review rating process. Ratings reflect the anonymous opinions of members of the bar and the judiciary. Martindale-Hubbell® Peer Review Ratings™ fall into two categories – legal ability and general ethical standards.

Representative Corporate Bankruptcy Cases

  • LATAM Airlines Group
  • OneWeb Global Limited
  • Synergy Pharmaceuticals Inc.
  • SunEdison, Inc.
  • New York Crane
  • Eastman Kodak Company
  • Ambac Financial Group, Inc.
  • Charter Communications
  • Daewoo International (America) Corp.
  • Enron Corporation
  • Rockefeller Center Properties
  • Tronox Inc.
  • St. Vincent’s Hospital
  • Federation Employment & Guidance Service (FEGS)
  • McClatchy Newspapers
  • Rubie’s Costume Company
  • Pacific Drilling S.A.
  • Westinghouse Electric Company
  • A&P
  • Dewey & LeBoeuf LLP
  • General Motors
  • Nortel Networks Inc.
  • Refco LLC
  • Anthracite Capital, Inc.
  • Grubb & Ellis Company
  • SK Global America, Inc
  • Ames Department Stores
  • Olympia & York World Financial Center (NY)
  • Aurora Commercial Corp.
  • Trident Holding Company LLC
  • Toisa Limited
  • Aéropostale, Inc.
  • City of Detroit
  • American Airlines (AMR Corp.)
  • Chrysler LLC
  • Frontier Airlines
  • Delphi Automotive
  • AbitibiBowater
  • Loehmann’s
  • ContiMortgage Corporation
  • Loews Cineplex Entertainment
  • Fortunoff Fine Jewelry & Silverware

Publications

  • Co-author with Frank A. Oswald, Kyle J. Ortiz, and Katherine A. Crispi: “M&As in Bankruptcy and Reorganization: The Implications on M&A,” in Mergers & Acquisitions: A Practitioner’s Guide to Successful Deals, pages 471-493 (Harvey A. Poniachek, ed.), 2019
  • “New Trends Emerge for ‘Consensual’ Third-Party Releases in the Southern District of New York and District of Delaware,” Skadden’s 2020 Insights
  • Co-author with Sarah Denis and Raphael X. Zahralddin-Aravena: “NBC Proposes Revisions to Chapter 15 of the Bankruptcy Code”, XXXVII ABI Journal 10, 8, 79, October 2018
  • “Second Circuit Issues Key Cramdown Interest Rate Ruling, Business Restructuring Review,” November/December 2017
  • “Courts Deliver Victory for Secured Lenders in Chapter 11 Cramdown Case,” ABL Advisor, November 20, 2017
  • “Can a 363 Sale Extinguish a Non-Debtor’s Leasehold Interest?,” Baker McKenzie Restructuring & Insolvency Blog, November 2, 2017
  • “Second Circuit Adopts the Market Rate Test for Cramming Down Secured Creditors in Chapter 11,” Baker McKenzie Restructuring & Insolvency Blog, October 24, 2017
  • “Second Circuit Affirms Subordination of Employees’ Breach of Contract Claims Relating to Unvested Equity Interests,” Baker McKenzie Restructuring & Insolvency Blog, June 21, 2017
  • “Senior Creditor’s Exercise of State Law Remedies May Eliminate a Junior Creditor’s Deficiency Claim Under Section 1111(b) of the Bankruptcy Code,” Baker McKenzie Restructuring & Insolvency Blog, May 31, 2017
  • “Delaware District Court Decision May Change the Procedure for Approving Non-Consensual Third-Party Releases,” Baker McKenzie Restructuring & Insolvency Blog, May 17, 2017
  • Co-author with Gregg Weiner, Heather Sprague, and Caitlin Giaimo: “The Duty to Supplement Expert Reports: Parts 1 and 2,” Law 360, January 2017
  • “LCI Holding: DOJ Fails in Its Challenge to Sale, Distressed Mergers & Acquisitions, New York Law Journal, Corporate Update” (assisted), October 2015
  • “Texas District Court Affirms Bankruptcy Court’s Use of Claim Estimation Process, Business Restructuring Review,” July/August 2015
  • “Successor Liability: GM Sale Vulnerable on Due Process Failures, Distressed Mergers & Acquisitions, New York Law Journal, Corporate Update” (assisted), June 2015
  • “The Common Interest Doctrine: Preserving Privilege Post-Petition,” Frank A. Oswald and Lauren L. Peacock, ABI Journal Vol. XXXIV, No. 6, 36, June 2015
  • “Liquidating Fiduciary Exception to WARN Act,” Frank A. Oswald and Lara R. Sheikh, with Practical Law Company Labor & Employment, May 2015
  • “ABI Commission Opts to Assume the Current State of the Law on Executory Contracts and Leases,” Weil Bankruptcy Blog, April 2015
  • Albert Togut and Robert J. Keach: “Chapter 11 Reform: ABI Commission Co-Chairs Address Secured Lenders’ Concerns,” ABL Advisor, December 2014, Feb. 4, 2015
  • “Second Circuit Holds Secured Creditor to Errant Termination Statement Filing,” Weil Bankruptcy Blog, February 2015
  • “Moving The Needle For Prepetition Waiver Permissibility,” Law360, January 2015
  • “ABI Chapter 11 Reform Commission Series: Venue and Core and Noncore Matters,” Weil Bankruptcy Blog, January 2015
  • “Postpetition Ratification of Prepetition Stay Waivers – A Possible End Around of the General Prohibition Against Prepetition Waivers of Bankruptcy Rights?,” Weil Bankruptcy Blog, January 2015
  • Albert Togut and Samantha J. Rothman: “Chapter 11: Out of Balance, XXXIII,” ABI Journal 12,14, 84-88, December 2014
  • “You Can’t Get Around the Automatic Stay by Filing an Action Against the Debtor in Another Bankruptcy Case Before the Same Bankruptcy Court. Or Can You?,” Weil Bankruptcy Blog, October 2014
  • Co-Author with Doron P. Kenter: “Back to School: Circuit Courts Provide ‘Cheat-Sheet’ on Stern Consent Issues in Advance of the Supreme Court’s Consideration of Wellness Int’l Network v. Sharif,” Weil Bankruptcy Blog, September 2014
  • “Constructive Fraudulent Transfer Claims Under § 548,” ABI Journal, Vol. XXXIII, No. 5, 2014
  • “Q&A With Al Togut on Dewey,” BigLaw and Chapter 11 Reform
  • “Bankruptcy Rule 2004: Recalibrating the Time Table,” The Bankruptcy Strategist, Vol. 31, No. 12, 2014
  • Al Togut of Togut, Segal & Segal LLP: “On Avoiding Law Firm Bankruptcies,” Forbes Magazine, Aug. 4, 2014
  • “Constructive Fraudulent Transfer Claims Under § 548,” American Bankruptcy Institute Journal, Vol. XXXIII, No. 5, May 2014
  • “When ‘Free and Clear’ Does Not Mean ‘Free and Clear’ – Bankruptcy Sales Involving Collective Bargaining Agreement Successor Clauses,” Norton Bankruptcy Law Adviser, May 2014
  • “Third Circuit Holds that Transferred Trade Claims Remain Subject to Disallowance under Section 502(d),” Weil Bankruptcy Blog, November 20, 2013
  • Harvey R. Miller & Edward Wu: “Section 363 Sales and the Evolution to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010,” American Bankruptcy Institute 39th Annual Lawrence P. King and Charles Seligson Workshop on Bankruptcy & Business Reorganization, September 2013
  • “Small Sanctions May Be Big Answer to Deterring Repeated Frivolous Pleadings by Certain Creditors,” Weil Bankruptcy Blog, June 17, 2013
  • “A New Reading of the Ordinary Course of Business Exception in Section” (student note), 547(c)(2), 21 Am. Bankr. Inst. L. Rev. 211, 2013
  • Edward Wu & Brian Huffman: “Too Big to Flail: Resolving Claims Efficiently in the GM Cases,” American Bankruptcy Institute (ABI) Journal, April 2013
  • “A Bankruptcy Case Littered with Environmental Issues,” Weil Bankruptcy Blog, February 8, 2013
  • “Whose Choice of Law Governs in Bankruptcy Cases?,” Weil Bankruptcy Blog, August 14, 2012
  • “The Power of Bankruptcy Courts – A Proposal for Consent to Authority After Stern v. Marshall,” Norton Annual Survey of Bankruptcy Law, 2012
  • “Bankruptcy Code Preempts State Law Requiring New Chrysler to Offer Right of First Refusal to Rejected Dealerships,” Weil Bankruptcy Blog, April 12, 2012
  • “Recent Developments – Section 546(e) Safe Harbor – Has the Second Circuit Taken Away a Bankruptcy Court’s Traditional Ability to Consider Substance Over Form?,” Moderators: Neil Berger and William Rochelle; panelists: Ronit Berkovich, Michael Cook, and Kenneth Ziman; Bloomberg Law Center, October 2011
  • “Gaps in the Second 546(e) Safe Harbor for ‘Settlement Payments’ and Transfers (and Obligations) Related to Securities Contracts,” Norton Bankruptcy Law Adviser, July 2011
  • “The ‘Absolute Finality’ Rule: Confirmation Orders After Travelers v. Bailey and United Student Aid Funds, Inc. v. Espinosa,” 20 Norton Journal of Bankruptcy Law & Practice 2, Art 2, March 2011
  • “Bankruptcy Court for the Southern District of New York Offers Practical Solution in Substantive Consolidation Conundrum,” Weil Bankruptcy Blog, March 2, 2011
  • “The Delaware Bankruptcy Court Explores the Limits of Bankruptcy Jurisdiction and Holds that It Cannot Exercise Supplemental Jurisdiction,” Weil Bankruptcy Blog, January 5, 2011
  • “Early Payments to Trade Creditors May Fall Outside the ‘Ordinary Course of Business’ Defense to a Preference Action,” Weil Bankruptcy Blog, November 23, 2010
  • “Representing the Professional Client,” New York County Lawyers Association Panel Discussion, April 2010
  • “Avoiding Fraudulent Transfers In Business Transactions. Navigating Today’s Environment – The Directors’ and Officers’ Guide to Restructuring”, BeardGroup, Globe White Page Ltd, 2010
  • “Sections 548 and 550 – Developments in the Law on Fraudulent Transfers and Recoveries,” Norton Annual Survey of Bankruptcy Law, 2010
  • “Has Notice Pleading Been Given Notice? Pleading Preferences After Twombly and Iqbal,” Thomson Reuters/West’s, Norton Bankruptcy Law Adviser, 2010
  • “Rights and Responsibilities of Debtor’s Counsel,” U.S. Trustee S.D.N.Y. CLE Program, 2010
  • “Avoiding Fraudulent Transfers in Business Transactions. Navigating Today’s Environment – the Directors’ and Officers’ Guide to Restructuring,” BeardGroup Globe White Page Ltd., 2010
  • “Has Notice Pleading Been Given Notice? Pleading Preferences After Twombly and Iqbal,” Norton Bankruptcy Law Adviser, 2010
  • “The Pluses and Minuses of Expedited Restructurings,” Panelists: Lisa J. Donahue, Roberta A. DeAngelis, Arthur J. Gonzalez, Mark J. Shapiro, Albert Togut, and Bruce R. Zirinsky; American Bankruptcy Institute, New York City Bankruptcy Conference, 2010
  • “Teaching the New Dog Old Tricks,” Moderator: Glenn E. Siegel; panelists: Prof. Troy McKenzie, Barry W. Ridings, Wilbur L. Ross, and Albert Togut; American Bankruptcy Institute, New York City Bankruptcy Conference, 2009
  • “Health Care Restructuring Out of Court: Can the Patient Survive Without the Bitter Pill of Bankruptcy?,” Moderator: Jean R. Robertson; panelists: Mark A. Berkoff, Robert M. Rishman, Frank A. Oswald, Paul Rundell, and Lea Krivinskas Shepherd; American Bankruptcy Institute, Health Care Triage Conference, 2009
  • “Liquidating Chapter 11’s: New Rules of the Road – Will Composition Agreements Resurface as a Viable Alternative,” Moderator: Albert Togut; panelists: David N. Phelps, Michael R. Stewart, and Hon. Gregg W. Zive; American Bankruptcy Institute, Winter Leadership Conference, 2009
  • “Transfer of Medicare Provider Numbers in Bankruptcy,” American Bankruptcy Institute Journal, May 2009
  • “Missing the Forest for the Trees and Neglected the Big Picture in §363,” Norton Bankruptcy Law Advisor, April 2009
  • “Missing the Forest for the Trees in § 363: How the Ninth Circuit’s Bankruptcy Appellate Panel Neglected the Big Picture in the Clear Channel Decision,” Norton Bankruptcy Law Adviser, April 2009
  • “Can Professionals Ethically Work for a Bankruptcy Estate When They Have Conflicts of Interest? Is There a Fix?,” American Bankruptcy Institute, 2009
  • “Conflicts of Interest: How Does It Affect Working for a U.S. Bankruptcy Estate?,” International Insolvency Institute, 2009
  • “ABI Landmark Fee Study: Moving-forward Analysis,” Moderator: Albert Togut; panelists: Diana G. Adams, Prof. Stephen J. Lubben, Deirdre A. Martini, and Michael P. Richman; American Bankruptcy Institute, New York City Bankruptcy Conference, Plenary Session, 2008
  • “Efficient Management of Avoidance Actions,” Panelists: Hon. Stacey Jernigan, Neil Berger, Joseph Steinfeld, Jr., and John Gregg; American Bankruptcy Institute, Annual Spring Meeting, 2008
  • “Basics of Bankruptcy Practice,” New York State Bar Association, 2008
  • “Holding Co./Operating Company Ethical Issues in Large Chapter 11’s,” Panelists: Matthew Cantor, Hon. Robert E. Gerber (ret.), Todd R. Synder, and Albert Togut; American Bankruptcy Institute, New York City Bankruptcy Conference, 2007
  • “Legal Ethics and Human Dignity, Cambridge Studies and Human Dignity” (acknowledged as a contributor), 2007
  • “Presentation of the Landmark ABI Fee Study: Conclusions and Ramifications,” Panelists: Michael P. Richman, C.R. “Chip” Bowles, John Wm. Butler Jr., Prof. Stephen J. Lubben, Deirdre A. Martini, Prof. Nancy B. Rapoport, Hon. Westley W. Steen, Albert Togut, and Clifford J. White III; American Bankruptcy Institute, Winter Leadership Conference, 2006
  • “Conflicts and Conflicts Counsel; Debtor’s Counsel and Management Duties in Multiple-Company Cases,” Panelists: Matthew Cantor, Albert Togut, Hon. Robert E. Gerber (ret.), and Todd R. Snyder; American Bankruptcy Institute, New York City Bankruptcy Conference, 2006
  • Nathan Koppel, Albert Togut: “’Second Banana’ of Bankruptcy: Lawyer Gets Called In To Help When Conflicts of Interest Loom; Networking with Grapefruits,” Wall Street Journal, January 14, 2006
  • “Special Conflicts Counsel: Best Practice or Big-Case Aberration?,” Moderator: Richard M. Meth; panelists: Deirdre A. Martini, Prof. Nancy B. Rapoport, and Albert Togut; American Bankruptcy Institute, Winter Leadership Conference and 23rd Annual Spring Meeting, 2005
  • “Deemed If You Do: Third Circuit Rejects Substantive Consolidation in Owens Corning,” BNA Bankruptcy Law Reporter, Vol. 17, No. 35, 2005
  • “Torture’s Truth” (assisted), 72 University of Chicago Law Review, 881-918, 2005
  • “Retention Issues for Bankruptcy Professionals,” American Bankruptcy Institute, 2004
  • “Ensuring a Conflicts-Free Chapter 11 Restructuring,” American Bankruptcy Institute, 2004
  • “Wearing Too Many Hats: Can Debtor’s Counsel Ethically Do What It Wants in the Case?,” Chair: Albert Togut; panelists: James L. Bromley, Hon. Robert D. Drain, Deirdre A. Martini, and Prof. G. Ray Warner; American Bankruptcy Institute, 6th Annual New York City Bankruptcy Conference, 2004
  • “Handling a Bankruptcy with Pending Criminal Investigations and Proceedings,” Panelists: Peter J. Ainsworth, Hon. Barry Russell, and Albert Togut; American Bankruptcy Institute, Winter Leadership Conference, 2003
  • “Choice of Law: Whether to File Amazing Corporation’s Chapter 11 Petition in New York or Delaware?,” Presenter: Albert Togut; American Bankruptcy Institute, New York City Bankruptcy Conference, 2001
  • “Whether to File in New York or Delaware,” American Bankruptcy Institute, 2001
  • “Advising the Mid-sized Debtor Before Bankruptcy: Ethical and Other Considerations,” Moderator: David M. Green; panelists: Carl Eklund, James L. Garrity, Jr., Hon. Arthur J. Gonzalez (ret.), and Albert Togut; American Bankruptcy Institute, New York City Bankruptcy Conference, 2001
  • “Professional Indemnification,” American Bankruptcy Institute, 2000
  • “Assigning Moral Culpability in F. Scott Fitzgerald’s ‘The Great Gatsby,'” Rutgers Law Review, Vol. 50, No. 2, 1998
  • “Exclusivity Fights-Rockefeller Center,” American Bankruptcy Institute,1997
  • “Debtor’s Out of Control,” Annual Survey of Bankruptcy Law, 1988
  • “Surviving Insolvency,” New York Transactional Guide, 1977