Bankruptcy Attorney Paul A. Rachmuth
Joins Gersten Savage

NEW YORK, February 9, 2009 – Paul A. Rachmuth, specialist in bankruptcy law, has joined Gersten Savage LLP as a partner and will chair the firm’s bankruptcy and corporate reorganization practice, Gersten Savage announced.

Previously, Rachmuth was of counsel in the corporate restructuring and bankruptcy group at Reed Smith LLP.  He has held crucial roles in a variety of high-profile bankruptcy cases, representing major creditors, creditor committees and trustees.  His experience includes leading complex bankruptcy litigations and negotiations, selling large bankruptcy claims, prosecuting reinsurance coverage actions, defending recovery actions, and analyzing complex financing structures for major banking institutions.

 Rachmuth represented a multi-billion dollar hedge fund in the Lehman Brothers European and American proceedings, and represented the State of Connecticut in the Enron Corp. bankruptcy cases, negotiating a $440 million settlement of the constructive trust litigation.  In other representative matters, he litigated successfully the return of consignment goods in the Whitehall Jewelers bankruptcy case; represented shopping center landlords in retail bankruptcy cases; and represented an aircraft service administrative claimant in the Northwest Airlines bankruptcy case. 

   “Paul comes to us with a highly distinguished career in bankruptcy law.  He will lead an expanded bankruptcy and reorganization practice that greatly will enhance the counsel we offer to our clients,” said Jay Kaplowitz, Gersten Savage managing partner.  “While other firms are retrenching, we continue to grow by executing our strategy of adding experienced attorneys in key practice areas.”

 Prior to Reed Smith, Rachmuth was a partner in the bankruptcy and restructuring group at Anderson Kill & Olick, P.C., which he joined as an associate in 2001. 

 Rachmuth earned his LL.M. in bankruptcy law from St. John’s School of Law and J.D. from Brooklyn Law School.  He holds a B.B.A. degree magna cum laude from the Bernard M. Baruch School of Business at the City University of New York.

 Rachmuth is admitted to the bar in the State of New York, the U.S. Supreme Court, U.S. District Court – Southern District of New York, and U.S. District Court – Eastern District of New York.  He is a member of the American Bankruptcy Institute.  He frequently lectures on bankruptcy issues and has published a variety of articles including “Recent Bankruptcy Litigation Pulls in Mortgage Lenders,” Real Estate Finance Journal, Fall 2008;  “Claims Trading Restrictions: Fasten Your Seat Belts,” Bankruptcy and Restructuring Advisor, co-authored with Michael Venditto; and “Getting Down to Business: Business Defenses to Preference Actions,” Bankruptcy and Restructuring Advisor.

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