Washington, D.C., April 6, 2009—Patton Boggs LLP has hired one of the nation’s premier bankruptcy legal teams, bolstering the firm’s ability to help clients restructure their businesses in a climate of economic uncertainty.
The firm is pleased to welcome Michael P. Richman, Mark A. Salzberg and Erika L. Morabito as partners.
Mr. Richman will lead the firm's national bankruptcy practice, which includes practitioners in the firm's New York City, Washington, D.C., Dallas and Northern Virginia offices.
The team will advise clients on virtually every aspect of financial distress and bankruptcy, including out-of-court restructurings and the prosecution and defense of creditors’ rights litigation, including preference and fraudulent conveyance cases.
Mr. Richman will be resident in the firm’s New York City office, which has experienced significant growth over the last year. Mr. Salzberg and Ms. Morabito will practice from the firm’s Washington office.
“This is a real coup for the firm,” said Stuart M.Pape, managing partner at the firm. “This extremely talented and respected legal team will deepen our well of expertise in the areas of bankruptcy and restructuring and provide a huge asset to companies weathered by these financial times.”
Mr. Richman, past director, president and board chairman of the American Bankruptcy Institute, will lead the team in their representation of chapter 11 debtors and creditors’ committees. The team provides a wealth of experience having represented clients before state and federal courts in over 20 states and territories.
The bankruptcy team will also provide expertise representing both secured and unsecured creditors, landlords, purchasers of assets under Bankruptcy Code section 363, franchisors, intellectual property owners and other parties in interest.
“This is an extraordinary opportunity to provide distressed companies with the full array of strategic options to escape the financial storm,” Mr. Richman said. “No one knows Washington the way Patton Boggs does. That expertise blended with our extensive knowledge about bankruptcy options, will be a potent mix for clients.”
Before joining the firm, Mr. Richman was the chairman of the Bankruptcy & Business Reorganization practice at Foley & Lardner LLP. Mr.Salzberg and Ms. Morabito were partners in that practice as well.
Mr. Richman graduated from Vassar College in 1975 and earned his law degree from Columbia University Law School in 1979. At Columbia, he was selected as a Harlan Fiske Stone Scholar and awarded the David M. Berger Memorial Award.
Mr. Salzberg graduated from Swarthmore College in 1987 and earned his law degree from the University ofVirginia School of Law in 1992.
Ms. Morabito graduated from Oswego State University in 1995 and earned her law degree from Syracuse University College of Law in 1999.
When Mr. Richman is not in the courtroom he is performing with the Indubitable Equivalents, a classic rock band whose members are all bankruptcy professionals, including the Chief United States Bankruptcy Judge for the Eastern District of Michigan.