Rick represents strategic buyers of financially troubled businesses, purchasers of distressed debt, secured creditors and other parties in the financial restructuring and bankruptcy processes. Many of the matters that Rick handles involve litigated disputes, allegations of fraud and insolvency proceedings pending in multiple jurisdictions.
What do you focus on?
Much of my work is focused on developing and implementing strategies for the purchase and sale of businesses and/or assets that are financially distressed or encumbered by complicated litigation that could precipitate financial distress.
Corporate Trust and Cross-Border Insolvency Disputes
Over the past ten years I have represented corporate trust fiduciaries in dozens of matters involving litigation and/or bankruptcy. Examples include: the resolution through Chapter 15 of difficult cross-border default, first chair trial of bondholders’ rights to $230 million in prepayment premiums and valuation of fourteen power plants and numerous securitization and swap related bankruptcy matters. Many of these disputes have involved insolvency proceedings pending in multiple jurisdictions.
Financial Fraud Litigation and Related Franchise Matters
Many of the most difficult financial disputes today, whether in or out of bankruptcy court, involve allegations of fraud. Litigation concerning such disputes frequently triggers financial distress. Recent matters that I have handled include the representation of a franchisor whose lender/investor accused it of fraudulent conduct, the representation of a hedge fund that was the victim of a ponzi scheme in litigation and then the commencement of an involuntary bankruptcy case and the representation of franchisors such as Planet Fitness and Dunkin’ in disputes with their franchisees.
What do you see on the horizon?
Increasingly financial disputes will involve proceedings pending in multiple countries. Businesses investing in China and other developing “capitalist” systems will find unprecedented opportunities and legal/political challenges as these systems face financial stress.
Recent Speaking Engagements and Legal Education Activity
- Speaker, “Driving Value out of Distress: Target Identification and Due Diligence,” The Deal
- Speaker on shifting alliances and strategy in a franchise bankruptcy case, American Bankruptcy Institute Northeast Conference
- Speaker on Cross-Border Insolvency Issues at presentation on Bankruptcy and the Global Economic Crisis, Italy-America Chamber of Commerce
- Panelist, “The Derivatives Market, What Comes Next,” discussing impact of bankruptcy on derivatives contracts
- Speaker, “Bankruptcy Issues in Franchising”, International Franchise Association Legal Forum
- Panelist, Harvard Business School Symposium on Turnaround Management
- Speaker on bankruptcy Issues, Commercial Lease Drafting and Negotiation
- Speaker and award recipient, Turnaround Management Association
- Speaker, "Expert Witness Discovery Issues in Bankruptcy", Boston Bar Association
- “The Evolution of Chinese Bankruptcy Law: Challenges of a Growing Practice Area, Inside the Minds: Recent Developments in Bankruptcy Law in China”; Aspatore Books, 2010. (Co-author)