Montgomery McCracken Grows Bankruptcy and Reorganization Practice

January 24, 2008

           Of Counsel Joseph O’Neil, Jr. Brings Diverse Expertise to the Firm

PHILADELPHIA, January 24, 2008 – Montgomery McCracken announced today that Joseph O’Neil Jr. has joined the firm as of counsel and a member of the firm’s Bankruptcy and Reorganization practice. Mr. O’Neil counsels clients on restructuring and workouts, bankruptcy, creditors’ rights, collections and asset recovery, representing secured and unsecured creditors, lessors, creditors committees, trustees, and debtors, with expertise in the financing/leasing industries. With national bankruptcy and creditor’s rights experience, his practice with major firms in the New York, New Jersey and Wilmington, DE, areas applies directly to the firm’s commitment to representing clients in a variety of markets facing challenging financial matters.

“We’ve seen a significant increase in opportunities for restructuring counsel in the commercial sector this year and we expect those opportunities to increase in the years ahead,” said Steve Madva, chairman of the Montgomery McCracken.  “As we continue to counsel clients facing bankruptcy and reorganization matters on a national scale, we are committed to hiring the market’s most talented individuals – bringing on Joe’s niche expertise is tangible evidence of that commitment.”

Most recently a partner with a large international law firm, O’Neil has represented many institutional clients, including equipment financiers and lessors, asset-based lenders, commercial factors and indenture trustees in commercial and other creditor-oriented litigation in state, bankruptcy and federal courts throughout the country.  His experience spans all phases of reorganization and liquidation proceedings. O’Neil was also seconded by a top ten Fortune 500 company to manage its distressed debt portfolios, and after successfully concluding this client project, he returned to private practice.

 “With the growing pressures facing financial and commercial institutions, including the subprime and credit crises, we are committed to strengthening this area of practice,” said chair of Montgomery McCracken’s Bankruptcy and Reorganization practice, Natalie Ramsey.  “Joe’s extensive experience in matters representing institutional lenders and lessors in restructuring matters, both in and outside of bankruptcy, will be a significant asset to the success and growth of our Bankruptcy and Reorganization practice.”

O’Neil graduated with a B.A. degree from Rutgers College at Rutgers University, and he earned his J.D. degree from the Seton Hall University School of Law.  Over the course of his career, he has authored numerous articles relating to commercial restructuring and bankruptcy for a number of high-profile legal publications. O’Neil is admitted to practice in New Jersey and New York as well as the District of New Jersey, the Southern and Eastern Districts of New York and the Eastern District of Michigan. He will be based in Montgomery McCracken’s Philadelphia office.

About Montgomery McCracken

Founded more than 95 years ago and headquartered in downtown Philadelphia, Montgomery, McCracken, Walker & Rhoads, LLP is a full-service law firm.  Its scope and depth of practice have expanded to meet the growing demands of its clients. With satellite offices in Wilmington, Delaware, Cherry Hill, New Jersey, and Berwyn and West Chester, Pennsylvania, the firm enjoys a strong regional presence and has an established national practice.  Its clients range from closely-held business enterprises to multi-national Fortune 500 companies.  Montgomery McCracken serves clients in traditional areas of practice such as litigation, corporate, class action defense, mass tort claims, government investigations and white collar crime, products liability, tax, estate planning, and labor and employment law.  The firms also serves clients in intellectual property, e-commerce, computer and information technology, real estate and land use and zoning, environmental, health care law, pharmaceutical, bankruptcy/reorganization, employee benefits, nonprofit, and financial investment matters.

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