Nick is Co-Chair of Stevens & Lee’s Bankruptcy and Financial Restructuring Department, Co-Chair of the Litigation Finance and Alternative Funding Group and a Member of the Litigation Group. He has over 30 years of experience advising clients on financial restructuring, corporate governance and commercial litigation matters.Nick primarily represents debtors, hedge funds and trustees. He also regularly represents lenders, buyers of distressed assets, investors, suppliers, directors and executives.
His clients have included companies in industries such as retail, apparel, transportation, energy, manufacturing, technology, telecommunications, hospitality and services. Nick also has significant experience representing plaintiffs and defendants in insolvency related litigation including claims involving preferences, fraudulent transfers, breach of fiduciary duty, wrongful redemption, declaration of illegal dividends, equitable
subordination, recharacterization and veil-piercing.
Nick has negotiated a number of multi-million dollar agreements with litigation funders pertaining to both insolvency and other commercial litigation claims, and has extensive contacts in the litigation finance industry. As a result, he and the lawyers in the Litigation Finance and Alternative Funding team can provide an end-to-end solution for clients seeking to assert litigation claims without committing their own capital.
In September 2016, Nick closed a $26.2 million sale to Gerchen Keller Capital, LLC, n/k/a Burford Capital LLC, the largest capital provider in the litigation finance industry, of the right to receive a portion of net recoveries on account of a bankruptcy trustee’s $213 million judgment against The Renco Group, Inc. and Ira L. Rennert, while the judgment was on appeal to the Court of Appeals for the Second Circuit. Nick and his team overcame objections filed by the judgment debtors and certain of the Debtors’ noteholders to both the bidding procedures and the sale itself. Thereafter, Nick and his team were successful in opposing the noteholders’ motion for a stay pending their appeal of the sale order in the District Court for the Southern District of New York. On March 8, 2017, the judgment was affirmed in all respects. In December 2017, the Financial Times recognized this unique transaction with its Innovative Lawyer Award for North America.