Patrick W. Carothers is a partner at Leech Tishman and is a member of the Bankruptcy & Creditors' Rights and Corporate Practice Groups. Patrick routinely represents businesses in various stages of financial restructurings- from out-of-court workouts to court monitored processes, including Chapter 11 bankruptcy reorganizations. Based in Pittsburgh, Patrick represents clients in bankruptcy courts throughout the country, including numerous matters in Delaware, New Jersey and the Southern District of New York.
Patrick regularly represents unsecured creditor committees in Chapter 11 bankruptcy cases and handles bankruptcy litigation matters involving fraudulent transfers, preferential transfers, fraud actions, director and officer liability and breach of fiduciary duty. He also represents Chapter 7 and liquidating trustees in bankruptcy cases and litigation. Patrick was a regular commentator on the 2009 automobile industry crisis, appearing several times on CNBC.
In addition to bankruptcy matters, Patrick advises domestic and international companies on a wide variety of corporate issues, including entity formation, real estate transactions, asset purchases, general contract review, and compliance with various laws and regulations.
In 2002, Patrick served as law clerk to both U.S. Bankruptcy Judge Morgenstern-Clarren, in the Northern District of Ohio, and the U.S. Court of Appeals, Sixth Circuit Bankruptcy Appellate Panel.
Thorp, Reed & Armstrong, LLP
Allegheny County Bar Association (Board Member, Bankruptcy and Commercial Law Section Council)
American Bankruptcy Institute
Pennsylvania Rising Star, Pennsylvania Super Lawyers Magazine (2007, 2008, 2010, 2011)
Corpus Juris Secundum Award (1998)
Carothers, Patrick W. "The Subprime Debacle Continues- The Nature and Scope of Litigation Begins to Reveal Itself." Communiqué, January 2008.
Carothers, Patrick W. "Another Look at the Subprime Lending Industry: New Federal Guidelines, Among Other Proposed Modifications to Federal Law, Attempt to Curtail 'Risky' Practices." Communiqué, August 2007.
Carothers, Patrick W. "Subprime Insolvency: Secondary Sources of Recovery, Potential Liability and Possible Opportunities to Buy Debt at Distressed Prices." Communiqué, July 2007.
Carothers, Patrick W. "Understanding Recent Developments in the Subprime Lending Market." Communiqué, March 2007.
Duquesne University Law Review (Research Editor; Member)
EssayPrepPlus (Bar Review Company) (President)
MicroMash Bar Study Group (Student Tutor)
Speeches & Presentations
"Receivers, Trustees and Examiners," Allegheny County Bar Association Annual Bankruptcy Symposium, December 2010
"Mitigating Legal Risk in a Recovery Mode," Financial Executives Technical Workshop, TRA Seminar, April 2010
"Hail Mary's- Far Out Maneuvers, Tactics and Strategies for Debtors," 14th Annual Bankruptcy Institute, Pittsburgh Section, October 2009
"Trying a Case in the Bankruptcy Courts," Bench-Bar Conference of Allegheny County, June 2009
"Mortgage Modifications and Effect on the Bankruptcy Laws," Third Circuit Judicial Conference, May 2009
"Big 3 Bankruptcy - Big Problems for Auto Dealers: Presentation to Auto Dealers in the Tri-State Area (PA, WV and Ohio),"January 2009
"The Collision of the Automotive Plastics Industry with Bankruptcy," Allegheny Bar Association Annual Bankruptcy Symposium, November 2008