MenuClose
Edward L. Schnitzer
New York Office

437 Madison Avenue
New York, NY 10022

P: 212-551-7781
F: 212-599-5085

Biography

Edward L. Schnitzer is a partner in Montgomery McCracken’s Business Department and is chair of the firm’s Bankruptcy & Financial Restructuring practice group. He focuses his practice on bankruptcy and reorganization matters. He has experience representing unsecured creditor committees, litigation & liquidation trustees, debtors, banks and creditors in all aspects of bankruptcy practice, with particular expertise in bankruptcy litigation including the prosecution and defense of preferences, fraudulent transfers, and other avoidance actions, claims objections, and collection and turnover actions.

Ed is a court-approved mediator in the United States Bankruptcy Courts for the District of Delaware and the Southern and Eastern Districts of New York. He has mediated disputes in the Health Diagnostic, Standard Register, Borders and WP Steel bankruptcy cases. Ed is also a member of the New York City Bar Association’s Pro Bono Bankruptcy Panel, and has represented individuals in need of pro bono assistance in adversary proceedings.

Upon graduation from law school, Ed served as an Assistant District Attorney in the Bronx where he briefed and argued appeals before the Appellate Division, New York Court of Appeals, Southern District of New York and Second Circuit, as well as tried several cases and assisted with the prosecution of a first degree murder trial. He then joined the Enforcement Division of the Securities & Exchange Commission where he investigated violations of the Federal Securities Laws. Prior to joining Montgomery McCracken, Ed served as chair of an international law firm’s bankruptcy and financial restructuring practice group.

Selected Representations

  • Serving as special counsel to prosecute avoidance actions in the Isolex Corsen bankruptcy pending in Texas.
  • Represented the official committee of unsecured creditors in the Puglia Engineering bankruptcy in Tacoma, WA.
  • Representing numerous creditors in the Sears & Kmart bankruptcies including negotiating critical vendor treatment, asserting reclamation rights, filing 503(b)(9) claims, asserting consignment rights and negotiating sale of claims.
  • Represented six clients/defendants in fraudulent transfer claims arising from the involuntary bankruptcy filing of a Long Island attorney running a Ponzi scheme.
  • Representing creditors/clients in the Westinghouse bankruptcy including the assertion of reclamation, 503(b)(9) and lien rights.
  • Recovered over $5 million on behalf of the Liquidating Trustee of Dewey & LeBoeuf through the prosecution of assorted Chapter 5 claims.
  • Represented secured creditor in New Jersey bankruptcy case resulting in full recovery for the client.
  • Defending various clients in avoidance actions in the Dots bankruptcy case seeking the avoidance and recovery of over $6 million in aggregate.
  • Negotiated dismissal of ~$1.5 million avoidance action filed against creditor in the HMX bankruptcy.
  • Generated over $10 million of recoveries on behalf of the Furniture Brands Plan Trustee through the prosecution of estate litigation claims.
  • Served on the panels of mediators for Draw Another Circle, Advance Watch, Quicksilver, Borders, and Health Diagnostic bankruptcy cases.
  • Represented defendants in various large bankruptcy cases including Wet Seal, Loehmann’s, Marco Polo, HMX, Factory 2-U, Ames, National Wholesalers Liquidators, Circuit City, Metro Park, Fortunoff and Value City.

Selected Publications

  • Author, “To Report or Not to Report?” ABI’s Mediation Committee Newsletter, August 2018
  • Author, “You Gotta Have Faith,” ABI Journal, July 2018
  • Author, “Five Unusual Things About the Westinghouse Bankruptcy Case,” Nuclear Intelligence Weekly, April 2018
  • Author, “Westinghouse Offers ‘Rare’ 100% Payback,” Nuclear Intelligence Weekly, February 2018
  • Author, “Mediation: Mother, May I?” ABI’s Bankruptcy Litigation Committee Newsletter, June 2016
  • Author, “Can Trade Creditors Provide ‘Value’ in a Ponzi Scheme?” ABI Journal, June 2015
  • Author, “Pizza or Sausage? Determining the Relevant Industry for Ordinary Business Terms Under Bankruptcy Code 547 (c ) (2) (B),” ABI’s Bankruptcy Litigation Committee Newsletter, October 2013
  • Author, “Archway Vs. Aimes: Do Debtors Activities with Other Creditors Affect Subjective 547 (c ) (2)(A) Safe Harbor?” ABI’s Bankruptcy Litigation Committee Newsletter, March 2011
  • Author, “May 20-Day Goods Qualify as an Administrative Expense under 503 (b) (9) and New Value?” ABI’s Unsecured Trade Creditors’ Committee Newsletter, February 2011

Academic Achievements

Ed received his J.D. from Columbia University School of Law. He graduated from University of Pennsylvania, cum laude, with a B.A. in Economics and Mathematics. He earned a Certificate of Completion for the Inaugural Bankruptcy Mediation Class in 2011 from St. John’s University of Law and the Hugh L. Carey Center for Dispute Resolution.