The Bankruptcy and Creditor’s Rights Practice Group at Adam Leitman Bailey, P.C. protects the rights of landlords, lenders, condominium/cooperative boards and other creditors through all aspects of the bankruptcy process so that they may maximize their recoveries.
We utilize our expertise and rigorous knowledge of the real estate industry to provide crucial advice to our clients on the risks and consequences of the bankruptcy of the parties with which they are doing business.
A central part of our practice is providing creative methods for parties to protect their property and interests without violating bankruptcy obligations. Due to the fast-moving nature of bankruptcy cases and the strict timelines to respond and file claims, we pride ourselves on our ability to deliver rapid advice on how to proceed which is essential to avoid a stay violation or loss of rights.
Our firm draws upon its strengths as a multi-faceted real estate practice to provide the most thorough and detailed responses possible to minimize delay and achieve client objectives. The Bankruptcy and Creditor’s Rights Practice Group coordinates closely with the firm’s other practice areas to provide integrated solutions to our clients needs.
We appear in all New York and New Jersey Bankruptcy Courts on behalf of creditors and claimants, and as special real estate counsel to bankruptcy debtors.
Representative matters include:
• Representing landlords with bankrupt tenants in preserving leases through work-outs or lease assumptions, or in obtaining bankruptcy surrender or stay relief to recover leased premises.
• Obtaining bankruptcy dismissals or stay relief on behalf of mortgage lenders with defaulting borrowers.
• Negotiating work-outs and loss mitigation settlements in bankruptcies of all types.
• Assisting a group of commercial tenants in preserving their leases and security deposits in the contentious Chapter 11 bankruptcy of a building’s landlord.
• Preserving condominium common charge liens and filing claims against bankrupt unit owners.
• Protecting the construction defect claims of a condominium board against a bankrupt condominium sponsor.
• Enforcing a Chapter 11 Plan’s “free and clear” sale provisions to protect a real property buyer from claims arising before the bankruptcy sale.
• Helping a subtenant preserve its tenancy in the Chapter 11 bankruptcy of its sublessor.
• Acting as special real estate bankruptcy counsel to a building owner who was subject to a New York City tax lien foreclosure.
Our successes have led to the highest honors and awards from the bar and ranking organizations. Adam Leitman Bailey, P.C. is the only real estate litigation law firm with under 30 attorneys that has received an AV® Martindale-Hubbell rating, Super Lawyers honors with a Top 100 recognition, Best Lawyer awards for the firm and attorneys and selection into the Registry of Preeminent Lawyers as well as the American College of Real Estate Lawyers.
The Commercial Observer named Adam Leitman Bailey as one of New York’s Most Powerful Real Estate Attorneys. Real Estate Weekly recognized him as, “one of the most respected commercial real estate attorneys in not only New York City, but arguably the country.” The New York Times referred to his legal strategy and legislation proposed in one case as “novel,” in addition to remarking on another case in which “Adam Leitman Bailey fought on…grinding through excruciating detail and obscure Perry Mason moments.” A New York State Judge wrote that one Adam Leitman Bailey, P.C. attorney “was the best trial lawyer I saw in my nine years as a Judge in New York City.” A New York State Judge, Kings County, stated that he had known Bailey for fifteen years and “that he is a brilliant lawyer and innovative who always worked zealously on behalf of his clients.”
Adam Leitman Bailey, P.C. is also the only real estate litigation law firm in New York City named by the internationally esteemed Chambers & Partners among New York’s Leading Real Estate Lawyers. Chambers & Partners noted that Adam Leitman Bailey received “enthusiastic praise for his expertise” and “a tenacious and confident litigator who is quick-witted in court and respected by the judges.” In other years, Chambers & Partners remarked that Bailey is “an extraordinary practitioner who gets great results” quoting a client on Mr. Bailey’s “ability to anticipate things before they happen.”
Real Estate Weekly also noted that “Adam Leitman Bailey has made a name for himself with his success winning cases in the courtroom.” The New York Times praised the firm’s “novel” strategy in one case and remarked that in another Adam Leitman Bailey, P.C. “fought on… grinding through excruciating detail and obscure Perry Mason moments.” After Adam Leitman Bailey, P.C. used a forgotten statute to prevail in a landmark federal case, the Wall Street Journal quoted a prominent New York attorney calling the holding a “game changer” affecting real estate nationwide.