David Posner focuses his practice on bankruptcy and insolvency matters, and represents companies, creditors’ committees, chapter 11 trustees, acquirers, financial institutions, and other significant parties-in-interest in complex reorganizations and financially distressed situations as well as debtor/creditor rights, and commercial litigation. In addition, he has substantial litigation experience representing both plaintiffs and defendants in complex commercial litigation inside the context of complex reorganization cases, and in state and federal courts across the country. Mr. Posner has been involved in all aspects of pre-trial proceedings, preliminary injunction hearings, motion practice, applications, mediation, objections, and other contested matters. He has tried both jury and non-jury trials in bankruptcy, state, and federal courts.
Prior to joining the firm, Mr. Posner was a member of the Insolvency and Creditors’ Rights group of a New York City law firm where he represented creditors’ committees in chapter 11 reorganization proceedings, commercial corporations, and financial institutions as both secured and unsecured creditors in chapter 11 reorganization proceedings, and in litigations pending before federal courts. Mr. Posner also worked extensively representing clients in the areas of lender liability, debt collection, judgment enforcement, and bankruptcy appellate practice. Previously, Mr. Posner was a partner in the Lending, Bankruptcy and Creditors’ Rights group in the New York City office of an international law firm where his emphasis was in the areas of bankruptcy, creditors’ rights, business restructuring, asset-based lending, and commercial litigation.
While attending law school, Mr. Posner was Senior Editor of the Syracuse Law Review.
Mr. Posner was recognized by The Best Lawyers in America® in 2021 for Bankruptcy Litigation. He was recognized in 2018 and 2019 as a New York "Super Lawyer" in the area of Business Bankruptcy by Super Lawyers magazine. Mr. Posner is a recipient of the Large Company Turnaround Award in 2020 by the Turnaround Management Association (TMA).
Led the engagement in this Chapter 11 case. At outset of case, provider of clinical laboratory and anatomic pathology services to skilled nursing facilities, physicians, physician offices, medical groups, and a hospital, operating 11 laboratory facilities and 27 offices in seven states, with 1,034 employees. Both business lines were sold in chapter 11. (Bankr. D. Del.).
Led the engagement in this Chapter 11 case of leading provider of youth apparel and streetwear under the “Ecko Unltd.” and “Unltd.” brands with gross sales of approximately $50 million at the time of filing. The company was sold to an insider and confirmed a Chapter 11 plan of reorganization. (Bankr. D. N.J.).
Represented significant creditor in Chapter 11 case of nation’s seventh largest airline; at outset of case, last reported net revenues in excess of $6.5 billion. (Bankr. E.D. Va.).
Led the engagement in this Chapter 11 case of a women’s lifestyle specialty apparel retailer supported by an e-commerce business; at outset of case operated 218 stores and reported net sales of approximately $208 million. (Bankr. D. Del.).
Led the engagement in this Chapter 11 case of one of the nation’s largest providers of fiber network transport services providing the transport of voice, video, and data traffic for six of the top eight wireless carriers in the United States. The company confirmed a Chapter 11 plan of liquidation that transferred the majority of the equity ownership to the bondholders. (Bankr. N.D. Tex.).
Co-led the engagement in this Chapter 11 case of designer, marketer, distributor and manufacturer of industrial, transportation and automotive products and systems including the EZ Pass system. Company is both an OEM and a Tier 1 manufacturer and supplier in the heavy transportation/ power transmission segments and the air intake and cooling systems segments and it also designs and manufactures electronic toll collection equipment, LED and other electronic display systems for trains, buses and planes. (Bankr. S.D.N.Y.).
Led the engagement in this Chapter 11 case of privately held company operating 57 grocery stores in Georgia, Alabama, and Mississippi with 2,850 employees and approximately $42 million in debt at the time of filing. (Bankr. N.D. Ala.).
Co-led the engagement in this Chapter 11 case of public company; at outset of case, next-generation mobile satellite service operator which provides mobile satellite coverage throughout the United States and Canada using integrated satellite-terrestrial smart phones and other devices, with assets of approximately $1 billion. The case resulted in a sale to an affiliate of Dish Network and a confirmed Chapter 11 plan or liquidation. Post-confirmation continued to represent the Liquidating Trustee in connection with the claims reconciliation and resolution process as well as other issues necessary to distribute the sale proceeds. (Bankr. S.D.N.Y.).
Represented significant creditor who was a member of the Creditors’ Committee in Chapter 11 case of public company ranked number 36 on Fortune’s list of 500 companies, nation’s second largest discount retailer and the third general merchandise retailer, employing approximately 240,000 associates worldwide, with net sales of approximately $37 billion and EBITDA of $1.4 billion at outset of cases. (Bankr. N. D. Ill.).
Represented a significant creditor who was a member of the Creditors’ Committee in this Chapter 11 case of public company; nation’s fourth largest airline, with net revenues in excess of $11 billion at outset of cases. (Bankr. S.D.N.Y.).
Co-led in the engagement in this Chapter 11 case of a privately held women’s retail store selling value-priced fashion apparel, shoes and accessories at approximately 400 stores throughout the Midwest, East and South United States, with approximately $293.7 million in sales at the time of filing. (Bankr. D. N.J.).
Chapter 11 case of privately held global quick serve restaurant with approximately 2,034 branded restaurants located in every U.S. state, Puerto Rico, Canada and 29 additional countries around the world; with funded debt in excess of $625 million as of the Petition Date. (Bankr. D. Del).
Led the engagement in this Chapter 11 case of privately held global, multi-brand media and direct marketing company with 500 employees worldwide and funded debt obligations of approximately $534 million at the time of filing. The company confirmed a plan of reorganization that substantially reduced its debt burden. (Bankr. S.D.N.Y.).
Involved in complex valuation issues and litigation in this Chapter 11 case of private company; at outset of case, last reported net revenues of approximately $977 million, the nation’s largest steak-buffet restaurant chain servicing approximately 2.7 million customers per week and employing approximately 22,800 employees nationwide. (Bankr. D. Del.).
Co-led the engagement in this Chapter 11 case of public company; at outset of case, information technology group providing multi-pronged services to manage, among other things: referrals, claims status inquiries, electronic remittance advices and conventional claims processing for the healthcare industry (i.e., physicians, hospitals, billing associations, healthcare payers and technology providers). The assets were sold in a 363 sale process for substantially more than the stalking horse bid. (Bankr. D. Del.).
Represented significant power company creditor and contract party in bankruptcy of owner and operator of various power-generating facilities, primarily in the United States, which operations include competitive energy production and cogeneration facilities, thermal energy production and energy resource recovery facilities. (Bankr. S.D.N.Y.).
Co-led the engagement in this Chapter 11 case of private company; one of the largest manufacturers and distributors of residential windows and patio doors in the United States; had approximately $531 million in net sales at the outset of the cases. (Bankr. D. Del).
Represented significant creditor in Chapter 11 case of the nation’s seventh largest airline; at outset of case, more than 34,000 employees and servicing almost 200 destinations in North America and Europe, and total assets of approximately $8.8 billion. (Bankr. E.D. Va.).
Co-led the engagement in this Chapter 11 case of owner and operator, at time of filing, of a total of 316 Disney Stores in the United States, employing approximately 8,233 employees. A majority of the stores were reacquired by Disney and the company confirmed a Chapter 11 plan of reorganization. (Bankr. D. Del.).
Co-led the engagement in this Chapter 11 case of a leading, global Italian quick service restaurant concept with approximately 5,170 employees, 1,045 restaurants throughout 42 countries, and annual revenues in excess of $300 million at the time of filing. (Bankr. S.D.N.Y.).
Co-led the engagement in this Chapter 11 case of privately held global, multi-brand media and direct marketing company with 3,000 employees worldwide, annual sales of approximately $2.2 billion and prepetition debt of approximately $2.2 billion at the time of filing. The company confirmed a Chapter 11 plan that reduced its debt burden and transferred the majority of the equity ownership to the bondholders. (Bankr. S.D.N.Y.).
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Syracuse University College of Law, J.D. (1988) cum laude
Syracuse University, B.A., Political Science and Philosophy (1984) magna cum laude
New York (1989)
U.S. Court of Appeals for the Second Circuit
U.S. Court of Appeals for the Third Circuit
U.S. District Court for the Eastern District of New York
U.S. District Court for the Southern District of New York
U.S. District Court for the District of Connecticut
U.S. District Court for the Western District of Michigan
American Bankruptcy Institute, Member
Unsecured Trade Creditors Committee, Co-Chair (2010-2013)
Turnaround Management Association, New York City Chapter Education Committee, Member
American Bar Association, Bankruptcy Sub-Committee of the Business Law Section, Member
New York State Bar Association, Member
New York Metro Super Lawyer, Bankruptcy, 2017, 2018 and 2019
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