Edward L. Schnitzer
Edward L. Schnitzer is chair of Montgomery McCracken's Bankruptcy and Financial Restructuring Department and serves as a member of the firm’s Management Committee. He focuses his practice on bankruptcy and reorganization matters. He has experience representing unsecured creditor committees, litigation and liquidation trustees, debtors, banks, equity committees, and creditors in all aspects of bankruptcy practice, with particular focus on 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.
Ed graduated undergrad from the University of Pennsylvania with cum laude honors and received his law degree from Columbia University School of Law. Ed received a Certificate of Completion, Inaugural Bankruptcy Mediation Class from John’s University of Law and the Hugh L. Carey Center for Dispute Resolution.
Bankruptcy and Financial Restructuring
Learn more about our Bankruptcy and Financial Restructuring Department
Selected Committee Representations
- Representing the Creditors’ Committee in the Centerstone Linen Services bankruptcy pending in Northern District of New York.
- Represented the Creditors’ Committee in the Tuesday Morning bankruptcy in Dallas, Texas.
- Represented the Official Committee of Equity Security Holders in the Pyxus International, Inc. bankruptcy in Delaware.
- Represented the Creditors’ Committee in the Willowood USA Holdings bankruptcy pending in Colorado.
- Represented the Creditors’ Committee in the API Americas bankruptcy.
- Represented the Creditors’ Committee in the Puglia Engineering bankruptcy in Tacoma, WA.
Selected Trustee Representations
- Serving as special counsel to prosecute avoidance actions in the Insys opioid bankruptcy pending in Delaware.
- Representing the liquidating trustee in the Centerstone Linen Services bankruptcy pending in Northern District of New York.
- Represented the litigation trustee in the Willowood USA Holdings bankruptcy pending in Colorado.
- Served as special counsel to prosecute avoidance actions in the Isolux Corsan bankruptcy pending in Texas.
- Recovered over $5 million on behalf of the Liquidating Trustee of Dewey & LeBoeuf through the prosecution of assorted Chapter 5 claims.
- Generated over $10 million of recoveries on behalf of the Furniture Brands Plan Trustee through the prosecution of estate litigation claims.
Selected Creditor/Party-In-Interest/Mediator Representations
- Representing insurer in multiple Catholic Diocesan bankruptcies.
- Representing former officer seeking allowance of a late filed employment discrimination in the Westinghouse bankruptcy.
- Represented creditor seeking allowance of a late filed claim in the Maxus bankruptcy.
- Represented attorney in multiple disputes and discovery matters.
- Represented 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 creditors/clients in the Westinghouse bankruptcy, including the assertion of reclamation, 503(b)(9), and lien rights.
- Served on the panels of mediators for Draw Another Circle, Advance Watch, Quicksilver, Borders, and Health Diagnostic bankruptcy cases.
- Represented secured creditor in New Jersey bankruptcy case resulting in full recovery for the client.
Selected Avoidance Actions Defense Representations
- Representing five defendants in mega-avoidance action filed by the J&M Chapter 7 trustee.
- Representing factors in asserting claims and defending preference actions in various bankruptcies.
- Representing former CFO, now a defendant in two adversary proceedings relating to a jewelry bankruptcy.
- Represented six clients/defendants in fraudulent transfer claims arising from the involuntary bankruptcy filing of a Long Island attorney running a Ponzi scheme.
- Defended 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.
- 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.
- Moderator, “The Many Roles of a Neutral in Bankruptcy,” American Bankruptcy Institute, April 2023
- Speaker, “Dear Connor & Ed: The Live Webinar Version,” American Bankruptcy Institute, March 2023
- Speaker, “A Look Ahead at Insolvency in 2023,” American Bankruptcy Institute, February 2023
- Speaker, “The Nuts & Bolts of DIP Financing,” Financial Poise™ and West LegalEdCenter™ Live Webinar, July 2022
- Speaker, “The Nuts & Bolts of a Lift Stay Motion,” Financial Poise™ and West LegalEdCenter™ Live Webinar, June 2022
- Speaker, “The Nuts & Bolts of a Chapter 11 Plan,” Financial Poise™ and West LegalEdCenter™ Live Webinar, May 2022
- Speaker, “Prepping for Success: The Keys to Maximizing the Mediation Process,” American Bankruptcy Institute’s Winter Leadership Conference, December 2021
- Co-Author, “What Happens When Co-Defendants Hold Divergent Interests?” ABI Journal, March 2023
- Author, “Sometimes a Post-Petition Attorneys’ Fee Award Is Just a Valueless Post-Petition Claim,” ABI Journal, February 2023
- Author, “Finding a Silver Lining for Factors in the Abeinsa Bankruptcy Case,” Commercial Factor, October 2022
- Co-Author, “LeClairRyan Bankruptcy Highlights Pass-Through Tax Issue,” Law360, June 2022
- Co-Author, “Remedies for Refusing to Consummate a Settlement Agreement Reached at Mediation,” ABI Journal, April 2022
- Mentioned in, “Montgomery McCracken Elects Three New Members to Management Committee; Louis A. Petroni Re-Elected as Chair,” March 2022
- Author, “Crown Financial, LLC vs. Drivetrain, LLC Illustrates ‘Harsh’ Consequences for Lending to Unlicensed Contractors,” Commercial Factor, December 2021
- Mentioned in, “Quinn Emanuel Can’t Escape Insys Ch. 11. Suit Over Payments,” Law360, October 2021
- Quoted in, “Maxus Energy Says No To $5.2M Fee For Insurance Consultant,” Law360, August 2021
- Co-Author, “CFPB Adopts Strict Liability Standard for Debt Collectors Who Sue or Threaten Suit Over Time-Barred Debt,” The Temple 10-Q, April 2021
- Co-Author, “Dismissal of Chapter 11 Case Calls Into Question Bankruptcy Protections for Cannabis Companies,” The Temple 10-Q, March 2021
- Co-Author, “CFPB Adopts Strict Liability Standard for Debt Collectors Who Sue or Threaten Suit Over Time-Barred Debt,” January 2021
- Co-Author, “Dismissal of Chapter 11 Case Calls Into Question Bankruptcy Protections for Cannabis Companies,” January 2021
- Noted in, “Tuesday Morning Corporation: Judge Hale Blocks Aspects of Trade Claimants Committee’s Campaign for ‘No’ Votes on Tuesday Morning Plan, Grants Sanctions,” ReOrg, December 9, 2020
- Co-Author, “Rebutting the Presumption of Insolvency During a Pandemic,” ABI Journal, November 2020
- Co-Author, “The Hypothetical Hits of Mediation,” ABI Journal, September 2020
- Co-Author, “Preference Payments in Bankruptcy: Rebutting the Presumption of Insolvency during the COVID-19 Pandemic,” June 2020
- Co-Author, “Maritime Bankruptcies in the US during the Coronavirus Pandemic: An Introduction for Creditors,” May 2020
- Co-Author, “College & COVID-19: Students Bring Wave of Lawsuits Seeking Tuition Refunds,” April 2020
- Co-Author, “You’ve Cut Costs, Laid Off, or Furloughed Employees. Now What?” April 2020
- Co-Author, “UPDATED – COVID-19 in New York: Essential Business, Law Firms, and State and Federal Courts,” April 2020
- Co-Author, “WARN Obligations In Light of COVID-19,” March 2020
- Co-Author, “Business Disruption Due to COVID-19,” March 2020
- Noted in, “Laminates Maker API Americas Gets Nod For $6M Ch. 11 Sale,” Law360, March 2020
- Author, “Bankruptcy Mediation,” Norton Journal of Bankruptcy Law and Practice, June 2019
- 2021 Large Company Turnaround and Transaction of the Year Award, Turnaround Management Association, 2021
- Turnaround of the Year (Under $100MM) Award, The M&A Advisor, 2021
- Corporate Turnaround of the Year Award, Global M&A Network’s Turnaround Atlas Awards, 2021
- ABI Committee Member of the Year Award, 2020
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- Columbia University School of Law
- University of Pennsylvania
What Happens When Co-Defendants Hold Divergent Interests?
By Leslie Berkoff and Edward Schnitzer This article addresses some of the issues that can arise when parties at a mediation are codefendants but are not fully aligned because some […]
Sometimes a Post-Petition Attorneys’ Fee Award Is Just a Valueless Post-Petition Claim
To qualify for an administrative-expense claim under § 503(b)(1)(A) of the Bankruptcy Code, a movant must establish that the expense arose from a transaction with the estate, and that such […]
Finding a Silver Lining for Factors in the Abeinsa Bankruptcy Case
In an article from last December, I discussed the Third Circuit Court of Appeals’ decision in the Abeinsa Holding Inc. bankruptcy.1 In that case, the Third Circuit sustained a claim […]
Bankruptcy Judge in Eastern District of New York Grants Summary Judgment in Favor of Five Defendants Represented by Montgomery McCracken
Montgomery McCracken attorneys Edward Schnitzer and Joseph Samuel represented five preference defendants in adversary proceedings brought by the Litigation Administrator in the Décor Holding, Inc. bankruptcy pending in the Eastern […]