Business Insolvency, Restructuring & Creditors' Rights

The Satterlee Stephens LLP Bankruptcy & Creditor's Rights Practice Group has a sophisticated, multifaceted practice built upon the Firm’s superior litigation strengths and transactional expertise.  The Firm has a wealth of broad and significant experience in successfully counseling clients through all aspects of business rescue and reorganization, asset tracing and recovery, as well as bankruptcy-related acquisitions, dispositions, and disputes.  Much of Satterlee’s work is cross-border. The Firm boasts of a diverse and impressive clientele including debtor, institutional lenders (including major commercial banks, hedge funds and DIP lenders), creditors’ committees, equity committees, unsecured creditors, bankruptcy trustees, indenture trustees, equipment financiers, receivers, landlords and purchasers of distressed assets. These engagements occur in a wide variety of formal bankruptcy cases as well as non-bankruptcy workouts and loan restructurings. The Firm also has a pioneering and vibrant practice representing foreign office-holders in recognition proceedings and cases under Chapter 15 of the Bankruptcy Code. Additionally, the Firm’s lawyers are versed in advising clients with respect to municipal debt readjustment and Chapter 9 of the Bankruptcy Code. Satterlee’s ability to provide comprehensive legal services of the highest quality to its bankruptcy and restructuring clients is strengthened by the availability of broad expertise in other Satterlee practice areas. The Firm’s insolvency attorneys practice in the following areas: 

Institutional Lenders 

Satterlee regularly represents commercial banks, hedge funds, floorplan financiers, equipment lenders, aircraft financiers and other institutional lenders in restructuring and enforcing secured loans in both out-of-court negotiations and formal bankruptcy proceedings. The Firm has had extensive exposure to lender liability, equitable subordination and fraudulent conveyance litigation targeted at lending institutions.  In addition to routinely prosecuting actions to lift or modify the bankruptcy automatic stay, the firm is well versed in foreclosure, replevin proceedings and other remedies under state law. 

Debtors and Trustees

Satterlee has extensive experience in advising insolvent, illiquid and other-wise distressed businesses in Chapter 11 reorganization proceedings (including pre-packaged Chapter 11 cases) and in out-of-court restructurings.  We represent debtor clients in many different sectors of industry and frequently deal with cross-border complexities. The Firm represents bankruptcy trustees in complex cases and cases involving Ponzi schemes and other fraud. 

Cross-Border Chapter 15 Practice 

Satterlee lawyers are pioneers in the burgeoning area of cross-border insolvencies, having been the first in the United States to have filed two unrelated Chapter 15 cases, both within months of the passage of the new Chapter 15 legislation, and having both cases successfully found to be ancillary to “foreign main” proceedings. Satterlee presently represents foreign insolvency practitioners, from pre-eminent firms worldwide in four active Chapter 15 cases, and recently concluded and closed three other successful Chapter 15 cases in Los Angeles. 

Committees of Creditors and Stockholders

Satterlee has an active practice representing creditors’ committees and equity committees. The Firm prides itself in achieving outstanding results while efficiently managing both the costs of legal services and the time demands of committee participation. Satterlee recently represented four very active committees (three in New York and one in Miami) and also has extensive experience involving creditors’ committees in major cases throughout the country.

Acquirers of Distressed Assets & Enterprises

Attorneys with Satterlee have significant expertise in representing acquirers of insolvent companies through a number of vehicles ranging from the traditional acquisition of assets free and clear of liabilities, to the negotiation and promulgation of a reorganization plan, to the acquisition of control through the purchase of a controlling position in the claims against a debtor.

Taxing-Authority Creditors 

Satterlee possesses special expertise in defending the claims of municipalities and other taxing authorities. The Firm has represented the County of Los Angeles and aggressively defended its claims in more than a dozen Chapter 7 and 11 cases in New York and New Jersey, through a co-counsel relationship with the prestigious L.A. firm, Steckbauer Weinhart, LLP.  Accordingly, Satterlee is exceptionally well-positioned to assert and defend the claims of taxing authorities throughout the U.S. but especially in the Southern District of New York.

Pamela A. Bosswick

Pamela A. Bosswick is of Counsel to Satterlee Stephens LLP. 

Ms. Bosswick is a litigator and concentrates her practice in the areas of commercial litigation and creditors’ rights.  She has particular experience representing financial institutions and major corporations in matters regarding lender liability defense, contract disputes, computer performance defense, inter-creditor issues, and bankruptcy.

Glenn C. Edwards

Glenn C. Edwards is a partner of Satterlee Stephens LLP and concentrates his practice in commercial litigation. 

He has represented clients in all aspects of litigation, both trial and appellate, in federal and state courts in various jurisdictions, as well as arbitration.  Areas of practice have included contractual disputes, partnership disputes, business torts, securities, antitrust, intellectual property, products liability, bankruptcy, trusts and estates litigation, and media-related issues.

James J. Coster

James J. Coster is a partner of Satterlee Stephens LLP and is the Co-Chair of the firm’s Litigation Department and Chairman of the Executive Committee. 

Mr. Coster is a trial attorney with experience in a broad array of complex commercial litigation, particularly on behalf of financial institutions.