Adam L. Shiff’s practice focuses on all aspects of bankruptcy and restructuring, including representing debtors, formal and informal committees of creditors and equity securities holders, trustees, investors and purchasers of distressed businesses.
Adam has worked on many of the major U.S. bankruptcies and restructurings over the past 20 years, having represented major parties in interest in LightSquared, Caesars Entertainment, Adelphia, Eastman Kodak, Borders, Capmark Financial, WorldCom, Residential Capital, Fine Host, Marvel Entertainment, Stations Holdings (f/k/a Benedek Broadcasting), and Trump Entertainment Resorts.
Adam has been highlighted by The Legal 500 as an “effective and industrious lawyer” in the area of Finance: Corporate Restructuring, recognized in Chambers USA and Benchmark Litigation, and ranked as a leading lawyer by IFLR 1000 and Super Lawyers. He has also been named a Restructuring and Insolvency Expert by Euromoney Legal Media Group: Expert Guides.
- Lead counsel to Fred’s, a leading retailer with 556 general merchandise and pharmacy stores across the southeast United States, in its Chapter 11 bankruptcy case.
- Harbinger Capital in restructuring its $2 billion investment in LightSquared.
- TPG Capital and senior TPG partners, in bankruptcy proceedings and multiple state and federal court actions concerning TPG portfolio company Caesars Entertainment.
- J. Crew in litigation against its Bank Agent.
- Board of Trustees of the ResCap Liquidating Trust.
- Anderson News, the second largest wholesaler of books and magazines in the U.S., as Chapter 11 debtor in the U.S. Bankruptcy Court for the District of Delaware.
- U.S. Bank, as administrative agent to the first lien lenders and the first lien lenders to CORE Media, a prominent entertainment company and owner of the American Idol franchise, in connection with a restructuring and potential litigation.
- The Renco Group in litigation against Wilmington Trust and in the Chapter 7 cases of Magnesium Corporation of America.
- Harbinger Capital Partners II, LP and other funds in obtaining the denial of Apollo Management’s motion to reopen LightSquared’s Chapter 11 cases. Apollo sought a ruling from the Bankruptcy Court concerning Harbinger’s right to assert its pending claims in New York State Supreme Court against Apollo and other defendants alleging a massive fraud, inducing Harbinger to invest approximately $2 billion in LightSquared, which had been compelled to file for Chapter 11.
- The Official Creditors Committee of Adelphia Communications in designing Adelphia Communication’s Chapter 11 plan, advising on a $11 billion asset sale and numerous actions against, among others, commercial banks and their investment bank affiliates, resulting in hundreds of millions in recoveries.
- Prominent individual investors in the successful back-stopped rights offering for Eastman Kodak in its bankruptcy proceedings.
- Counsel to the debtors and debtors-in-possession in the bankruptcy cases of Borders, a leading operator of book, music and movie superstores.
- The Official Creditors Committee of Capmark Financial Group as special litigation counsel, investigating claims related to the prepetition conversion of $1.5 billion of the debtors’ unsecured bank debt into secured debt and representing the reorganized company in bringing a $145 million preference action against Goldman Sachs entities.
- Five Mile Capital in the Chapter 11 bankruptcy cases of Innkeepers USA Trust, owner and operator of 72 hotels. Kasowitz represented Five Mile, the largest holder of trust certificates issued by a CMBS trust that held an $825 million mortgage, as the post-petition lender for the debtors as well as the stalking horse bidder. Kasowitz implemented a sales process for the entire enterprise, which led to a successful auction resulting in a sale price that delivered immense value to our client.
- Donald J. Trump and Ivanka Trump in the Chapter 11 bankruptcy cases of Trump Entertainment Resorts, owner and operator of the Taj Mahal, Trump Plaza, and Trump Marina casinos in Atlantic City, New Jersey, including an extensive confirmation fight with competing Chapter 11 plans that resulted in a victory for the Trumps when the bankruptcy court confirmed the plan backed by Mr. Trump.
- Ad hoc group of holders of $650 million in notes in Linens ’n Things, operator of more than 500 stores.
- Substantial bondholders of Catalyst Paper in a successful Chapter 15 cross-border process.