Mintz Levin Establishes Distressed Debt and Claims Trading Practice

02.15.2011 - New York, NY

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., which has a nationally recognized reputation successfully representing numerous parties in the distressed debt industry, has formed a dedicated Distressed Debt and Claims Trading Practice aimed at helping clients take advantage of opportunities throughout the distressed debt market.

The new practice group – which is being spearheaded by New York-based litigators, Frank Earley and Dominic Picca and bankruptcy attorney Paul Ricotta – will be comprised of bankruptcy and litigation attorneys from across all of the firm's offices. The group will assist clients in all aspects of the acquisition and sale of distressed investments, including bank loans and trade claims. The group will also offer a unique area of expertise – assisting clients with disputes between inexperienced sellers and members of the claims trading industry.

Clients will include both the sellers and buyers of these instruments, and range from domestic and international private equity and hedge funds to private investment funds specializing in distressed investments, as well as trade creditors seeking to liquidate their bankruptcy claims.

"As the distressed debt market continues to evolve, client demand for experienced professionals who can navigate this complex industry is at an all-time high," said Richard E. Mikels, Chairman of Mintz Levin's Bankruptcy, Restructuring and Commercial Law Section. "The unique skill set of our attorneys, combined with the firm's restructuring experience, allows us to provide clients with a broad perspective and a deep expertise in matters relating to all aspects of bankruptcy law, including claims trading and distressed debt investing."

Among various notable transactions, the firm has successfully litigated the seminal case involving a dispute between an international corporation with no experience in trading claims, and a major distressed claims trader. In addition, the firm has represented numerous buyers and sellers of claims in the General Motors, Chrysler, Mirant Corporation, Enron, Delphi Automotive and Lehman Chapter 11 cases.

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