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Montgomery McCracken Adds Established Bankruptcy Team in New York and Delaware

June 5, 2019


To view coverage in the New York Law Journal, click here.

Philadelphia, PA – Montgomery McCracken announced today that six bankruptcy attorneys have joined the firm’s New York and Wilmington offices. Edward L. Schnitzer, David M. Banker, Maura I. Russell and Gilbert R. (“Gib”) Saydah Jr. have joined the firm as Partners in New York. Partner Marc J. Phillips and Of Counsel Jeffrey M. Carbino have joined the firm in Wilmington. The six attorneys join Montgomery McCracken from a large international law firm.

“We are excited to welcome Ed and his team to Montgomery McCracken,” said Richard M. Simins, Vice Chairman and Executive Partner. “This group brings a significant transactional and litigation practice to the firm and their addition will bolster our New York and Delaware offices. Expanding our bankruptcy practice had been an important part of our growth strategy and given our familiarity with these attorneys, we jumped at the opportunity to add such an accomplished and well-respected team to our existing Bankruptcy & Financial Restructuring practice.”

Edward L. Schnitzer has nearly twenty years of 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. Schnitzer 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, and has mediated disputes in the Health Diagnostic, Standard Register, Borders and WP Steel bankruptcy cases. Schnitzer will serve as chair of the firm’s Bankruptcy & Financial Restructuring practice group. Prior to joining Montgomery McCracken, Schnitzer served as chair of an international law firm’s bankruptcy and financial restructuring practice group.

“My team and I are thrilled to join Montgomery McCracken,” said Schnitzer. “We were drawn to the firm for its collaborative platform, and we see great opportunities to grow our practice. We also look forward to contributing to the growth and expansion of the firm’s capabilities in the New York and Wilmington markets.”

David M. Banker’s practice focuses on creditors’ rights in the context of complex bankruptcies, including providing counsel to unsecured creditors’ committees, institutional trade creditors, plan trustees, investment funds, secured lenders, and lessors. Banker has represented the unsecured creditors’ committees in Orchids Paper, CST Industries, Willowood USA Holdings, Centerstone Linen, Prestige Industries, Noranda Aluminum, Borders Group, SP Newsprint, Gourmet Express, Chef Solutions, Advanced Marketing Services, Koen Book Distributors, Solaris Industries, and Xtera Communications.

Marc J. Phillips has over a decade of experience representing a broad variety of clients in large and complex Chapter 11 and Chapter 7 corporate bankruptcy proceedings, including debtors, unsecured creditors, lenders, landlords, equipment lessors, trade creditors, directors and officers, intellectual property licensors and licensees, insurance carriers, municipal taxing authorities, utilities, asset purchasers, bondholders, noteholders, trustees and committees. Marc also represents secured and unsecured creditors in bankruptcy preference and fraudulent transfer litigation. In addition, his practice includes the representation of companies in civil litigation and complex commercial litigation.

Maura I. Russell’s practice focuses on bankruptcy and business reorganization matters, emphasizing secured transactions, in-court and out-of-court workouts, creditors’ rights in bankruptcy proceedings, representation of official and unofficial creditors’ committees, business counseling, contract negotiations, and buyers and sellers of distressed assets. She has served as lead counsel to agents and secured lenders, official liquidators and unofficial creditors’ committees, official equity committees and debtors in complex Chapter 11 cases. She also has performed transaction work in numerous cases with sellers, purchasers, lenders and secured and unsecured creditors of financially troubled companies, non-judicial restructurings and Chapter 11 reorganizations throughout the United States and Canada.

Gilbert R. Saydah Jr.’s practice focuses on representing parties in Chapter 11 bankruptcy and out-of-court restructuring proceedings. Gib has extensive experience representing official committees of unsecured creditors; owners and purchasers of distressed assets; shopping center owners, management companies, and other landlords; large individual creditors; debtors in possession; indenture trustees; liquidating trustees and plan administrators.

Jeffrey M. Carbino has more than 26 years of bankruptcy and corporate reorganization experience. He has represented debtors, landlords, creditors’ committees, utility companies, equipment lessors, directors and officers, and other secured and unsecured creditors in national Chapter 11 bankruptcy proceedings and restructurings outside bankruptcy. Carbino has also defended hundreds of secured and unsecured creditors in preference and fraudulent transfer actions in bankruptcy proceedings.  He has represented Fortune-500 companies, national banks, financial institutions and lenders in negotiating and documenting secured loans, unsecured loans and securitized credit facilities and in working out troubled domestic and foreign loans. He has also represented agents in complex multi-lender and syndicated loans, and has drafted substantive consolidation, perfection and other opinions on behalf of his clients.

About Montgomery McCracken

Montgomery McCracken is a full-service law firm with offices in Pennsylvania, New York, New Jersey and Delaware. The firm represents leading businesses, multinational corporations, nonprofit organizations and individuals across a wide range of industries in complex litigation matters, significant corporate transactions and challenging disputes. Follow the firm on Twitter at @MMWR_Law.