For over 30 years, Marc Richards has concentrated his practice on representing clients in all facets of business reorganizations, out-of-court restructurings, Chapter 11 and Chapter 9 bankruptcies. Mr. Richards represents clients in a wide range of industries, including, electricity/energy, steel manufacturers, transportation companies, real estate entities, retail, healthcare, biofuels producers and shipbuilders. Mr. Richards advises clients in a wide range of areas, including:
· major Chapter 11 cases and reorganizations
· corporate reorganizations and workouts
· counsel to creditors' committees
· loan and debt restructurings, including intercreditor relationships
· creditors rights and remedies
· strategic transactions
· related litigation
Mr. Richards testified before the U.S. Senate about trucking reorganizations and bankruptcies. He is often sought out by the media to comment on high-profile bankruptcy proceedings.
Mr. Richards has received the highest possible rating from Martindale-Hubbell.
Representative Matters
· USGen New England, Inc., as counsel to debtor in successful billion-dollar reorganization of large electric wholesale generator, providing 100% plus interest recovery to creditors and significant return to equity.
· Weirton Steel as counsel to creditors' committee of steel reorganization.
· Pittsburgh Canfield Corp. (Wheeling Pittsburgh Steel Corp.) as counsel to creditors' committee of steel manufacturer of the only successful steel reorganization.
· Performance Transportation Systems (Leaseway Transportation) as counsel to creditors' committee.
· Marco Polo Seatrade, B.V. as counsel to the creditors' committee of vessel owner in its Chapter 11.
· Special Metals Corporation as counsel to creditors' committee in successful reorganization of largest U.S. nickel manufacturer.
· Northeast Biofuels as counsel to biofuels company in its reorganization efforts including its Section 363 sale process which ultimately resulted in the sale of all of its assets to Sunoco, a national oil refiner.
· Midway Games as counsel to Chapter 11 debtor, inventor of Mortal Kombat, with valuable IP assets related to its computer game business.
· Metropolitan 885 Third Avenue Leasehold, LLC, as counsel to debtor in its prepackaged Chapter 11 Plan of Reorganization for the iconic "Lipstick Building" in New York City.
· NYC Off-Track Betting as counsel to creditors' committee in off-track betting and gaming business Chapter 9.
· Semcrude as co-counsel to creditors' committee of multi-billion dollar global company providing midstream services to the energy industry, including gathering, transportation, storage, distribution and marketing services to independent producers and refiners of petroleum products.
· New Almacs as counsel to creditors' committee of Chapter 11 grocery chain.
· Tacoma Boat Building as counsel to creditors' committee of Chapter 11 ship builder.
· Crouse Health Hospitals as counsel to the creditors' committee in Chapter 11 case of hospital system.
· Livent (US) Inc. as responsible officer and liquidation trustee under confirmed Chapter 11 plan of Broadway show producer.
· Teleglobe Communications Corp. as counsel to Monitor under Canadian Companies' Creditors Arrangement Act of Teleglobe Inc.
· The Pharmacy Fund d/b/a Rapid Rxmit as counsel to the debtor.
· Air Canada, Inc., as counsel to foreign representative in Section 304 ancillary proceeding of international airline.
· Braniff, Inc. and Pan Am Corp. as counsel to creditors' committee of international airlines.
Memberships
American Bankruptcy Institute
American Bar Association
New York State Bar Association
Events
SO YOU WANT TO (OR SHOULD BE) A CHAPTER 11 DEBTOR UNDER THE U.S. BANKRUPTCY CODE
[Event]
3rd Annual Capital Link Greek Shipping Forum
Athens, Greece
February 29, 2012
Marc E. Richards
SO YOU WANT TO (OR SHOULD) BE A U.S. DEBTOR?
[Event]
Online via webinar or live at
Blank Rome LLP
The Chrysler Building, 405 Lexington Avenue, New York, NY
October 19, 2011
Jeremy J.O. Harwood and Marc E. Richards
BLANK ROME'S RONALD FISHER AND MARC RICHARDS TO SPEAK AT POWER ASSET M&A CONFERENCE
[Event]
April 15, 2004
Marc E. Richards
News
LIQUIDATION PLAN AGREED IN MARCO POLO CHAPTER 11 CASE
[Media Coverage]
May 8, 2012
Marc E. Richards
MARCO POLO WINS U.S. CHAPTER 11 BRAGGING RIGHTS
[Media Coverage]
November 4, 2011
Brian P. Devine and Marc E. Richards
ALL EYES ON OMEGA
[Media Coverage]
October 25, 2011
Marc E. Richards
BLANK ROME REPRESENTS TRUSTEE IN SEEKING $25M FROM SHIPPERS
[Media Coverage]
July 12, 2011
Jeremy J.O. Harwood, Marc E. Richards, Jeremy A. Herschaft, Brett M. Esber, Duncan C. Smith and Tara L. Leiter
BANKRUPTCY ATTORNEY QUOTED IN CHICAGO SUN-TIMES
[Media Coverage]
June 29, 2004
Marc E. Richards
Cases and Deals
BLANK ROME REPRESENTS OWNERS OF ICONIC "LIPSTICK BUILDING" IN PREPACKAGED BANKRUPTCY
[Case]
January 2011
Joel Charles Shapiro, Marc E. Richards, Scott F. Budzenski, Steven A. Shoumer and Robyn Neff
Blank Rome represented the owners of 885 Third Avenue, the iconic New York City office building known as the "Lipstick Building," in a prepackaged bankruptcy that resulted in the restructuring of debt and equity positions that benefited our client by more than $80 million.
JOINT CHAPTER 11 PLAN OF LIQUIDATION OF MIDWAY GAMES
[Case]
June 14, 2010
Michael D. DeBaecke, Jeffrey N. Siegel, Steven L. Caponi, David W. Carickhoff, Pamela E. Flaherty, Victoria A. Guilfoyle, et al.
Blank Rome represented Midway Games Inc. in its Joint Chapter 11 Plan and Liquidation
MIDWAY GAMES SELLS ASSETS TO WARNER BROS. FOR $46M
[Deal]
July 10, 2009
Pamela E. Flaherty, Jeffrey N. Siegel, Michael D. DeBaecke and Marc E. Richards
Midway Games Inc. and its subsidiaries as debtors-in-possessions in the sale of substantially all of their assets to Warner Bros. Entertainment for approximately $46 million.
$1.5 BILLION BANKRUPTCY OF ENERGY COMPANY USGEN
[Case]
May 13, 2005
Bonnie Glantz Fatell and Marc E. Richards
One of the largest and most complex bankruptcies filed in the state of Maryland.
Recognition
BLANK ROME TOPS THE DEAL'S LIST OF BANKRUPTCY ATTORNEYS
[Ranking]
March 31, 2004
Samuel H. Becker, Thomas E. Biron, Michael Z. Brownstein, Michael D. DeBaecke, Andrew B. Eckstein, Bonnie Glantz Fatell, et al.