David Adler

Clients call upon David Adler to handle their most complex bankruptcy and insolvency matters. He develops a thorough understanding of his clients’ business and aligns his legal strategies to coincide with their business objectives.

David Adler’s practice encompasses bankruptcy and other insolvency proceedings. He represents a broad range of clients, including debtors, creditors’ committees, trustees, secured creditors, indenture trustees, unsecured trade creditors, equipment lessors, landlords and purchasers of assets.

David represented the Official Committee of Unsecured Creditors in the bankruptcy of Coudert Brothers LLP, a former major international law firm founded in the 1850s. In connection with the confirmation of Coudert’s plan of liquidation, the estate recovered over $8 million from its partners. Following confirmation, David, on behalf of the plan administrator, asserted claims against non-settling partners and successor law firms under the bankruptcy code and partnership law (including unfinished business claims). Those claims resulted in several significant settlements and landmark decisions.

David has represented trustees appointed under the Securities Investor Protection Act of 1970 in connection with the liquidation of BBS and First Interregional Equity Corp. Both of these cases involved multimillion dollar liquidations of major brokerage firms and issues dealing with complex customer positions and the unraveling of major frauds.

He frequently represents indenture trustees in separate litigations arising out of bankruptcy where claims have been asserted by certificate holders for professional negligence, breach of contract, breach of fiduciary duty and violation of the Trust Indenture Act.

David is a member of the firm’s Compensation Committee and previously served on the firm’s Executive Committee from 2008 to 2014.

Represented client noteholder Security Benefit Life Insurance Company in securing a favorable ruling from the Second Circuit that Lehman Brothers could not claw back $1 billion in financial crisis-era payments distributed after Lehman filed for bankruptcy more than a decade ago. The court ruled that payments were protected by the Section 560 of the Bankruptcy Code’s safe harbor provision.

Currently representing the Official Committee of Unsecured Creditors in the bankruptcy of Zucker Goldberg & Ackerman, LLC pending in the bankruptcy court in the District of New Jersey.

Representing Deutsche Bank Trust Company Americas (DBTCA) in the bankruptcy of Tribune Company and its subsidiaries. DBTCA was the indenture trustee for over $1 billion in publicly traded bonds and was a member of the Official Committee. We continue to represent DBTCA in post-confirmation matters including as counsel of record in a recent Third Circuit decision concerning the doctrine of equitable mootness.

Representing creditors in the recently filed oil-related bankruptcies including an equipment supplier (that is a member of the Official Committee) in the chapter 11 proceeding of Samson Resources Company and one of the largest trade creditors in the chapter 11 proceeding of Sabine Oil & Gas Corporation.