David L. Barrack is a business lawyer with 25 years of national and international practice in the areas of complex commercial litigation, corporate and financial restructuring, workouts, creditors’ rights, commercial finance, corporate governance, fiduciary duty litigation, fraud investigation and litigation, asset recovery and commercial litigation.  He regularly practices in both state and federal courts throughout the United States, including trial and appellate courts, winning significant and precedent-setting decisions for his clients.

He regularly serves as lead transactional and litigation counsel in bankruptcy- and insolvency-related litigations, and advises clients with respect to fiduciary duties, director and officer liability, and fraudulent conveyance issues.  David represents debtors, creditors and equity committees, investors, bondholders, and secured and unsecured creditors, as well as purchasers and sellers of assets in bankruptcy cases. He has represented clients in industries including finance, environmental management, real estate, oil and gas, insurance, shipping, manufacturing and retail.

David's clients find him to be a smart and innovative lawyer with excellent analytical skills and superb judgment who is always thoroughly prepared.

Before joining Wilk Auslander, he was partner in an Am Law 100 firm, and for 13 years prior was a partner with Fulbright & Jaworski LLP, where he served as the Head of the New York Bankruptcy Group, and firm wide as the Co-Head of the Subprime and Credit Crisis Practice Group.

David won a precedent-setting decision in the Second Circuit Court Appeals, allowing seven Brazilian pig-iron ore mines to move forward with their enforcement of a $50 million International Chamber of Commerce award issued in Paris against US entities and individuals, through veil-piercing and alter-ego claims in the Federal District Court for the Southern District of New York.  This was brought under the Federal Arbitration Act and the New York Convention allowing enforcement of foreign arbitral awards in the United States. CBF Indústria de Gusa S/A et al. v. AMCI Holdings, Inc., 846 F.3d 35 (2017).

Represented the receiver of the Ascot Fund, Ltd, a feeder fund to Madoff in the Madoff bankruptcy case, defending in excess of $500 million in claw-back claims. Picard v. Fairfield Greenwich Ltd., 762 F.3d 199 (2nd Cir. 2014).

Defended Hadassah, the Women’s Zionist Organization of America, a not-for profit organization which provides medical relief in Israel, from Madoff Trustee's $137 million claw-back claims.

Represented Chapter 7 trustee of Colonial Realty Co., a Ponzi scheme case with more than $3 billion in real estate assets owned by 64 syndicated limited partnerships; obtained first-impression decisions in Second Circuit Court of Appeals on enforcement of automatic stay against a quasi-governmental entity, defining outer limits of trustee's right to prosecute claims on behalf of creditors.  These decisions are cited in almost all Ponzi scheme cases.  Hirsch v. Arthur Anderson & Co., 72 F.3d 1085 (2nd Cir. 1995); F.D.I.C. v. Colonial Realty Co., 966 F.2d 57 (2nd Cir. 1992).

Represented a U.K. investment bank and Luxembourg asset fund in bankruptcy and state court litigation, and appellate proceedings in connection with investments in a U.S. technology company.  Argued both in bankruptcy court and to the bankruptcy appellate panel to dismiss all claims against the client, based upon a lack of jurisdiction after a sale of the debtor’s assets.  Maximillian & Co. v. Catalyst Investment Group (In re Endico, Inc.), (BAP No. UT-09-013 March 2, 2010).

After a four-week bench trial, obtained dismissal of all claims against general counsel and officer of failed company in $350 million breach of fiduciary duty and fraud case.

Represented Downtown Athletic Club, home of the Heisman Trophy, in its successful Chapter 11 restructuring through the commercial condo of the building, allowing the sale of the top 25 floors.

Represented the Carlisle Collection, the largest direct seller of high-end women's apparel in the United States with over $100 million in yearly revenue, through a Chapter 11 asset sale under Section 363 of the Bankruptcy Code to a joint venture formed by Tom James Company and Royal Spirit, Ltd.

Represented Jones Act shipping company in Chapter 11 case and led a trial team in bankruptcy court litigation with its hedge fund equity and lender partners over rights to construct and operate five petroleum carriers.

Represented fund and individual parties who ventured with Cerebus to purchase substantially all assets of AMF Bowling through a plan of reorganization, including an ability to utilize net operating loss carry-forwards.

Represented venture fund in non-judicial foreclosure of secured debt of Gargoyles, Inc., a sunglasses manufacturer, and then sale of business to Foster Grant.

Represented a Calgary-based oil sands producer and marketer of bitumen and holder of 440 million barrels of proved and provable bitumen reserves.  The company filed a Canadian bankruptcy case to convert $1 billion of debt to equity.  Represented the company in New York litigation with the administrative agent for $130 million of secured notes.

Represented CEXIM, the largest secured creditor, in one of the largest international shipping bankruptcy cases ever filed. CEXIM financed Overseas Shipholding Group ("OSG") and affiliated companies' purchase of five large ships which were manufactured by Chinese shipbuilding companies. The OSG case involved over 100 affiliated companies and a myriad of complex jurisdictional and international industry and insolvency laws.

Represented the largest privately held U.S. mailing-list broker and servicing company in corporate finance transaction and Chapter 11 filing.

Overview

David L. Barrack is a business lawyer with 25 years of national and international practice in the areas of complex commercial litigation, corporate and financial restructuring, workouts, creditors’ rights, commercial finance, corporate governance, fiduciary duty litigation, fraud investigation and litigation, asset recovery and commercial litigation.  He regularly practices in both state and federal courts throughout the United States, including trial and appellate courts, winning significant and precedent-setting decisions for his clients.

He regularly serves as lead transactional and litigation counsel in bankruptcy- and insolvency-related litigations, and advises clients with respect to fiduciary duties, director and officer liability, and fraudulent conveyance issues.  David represents debtors, creditors and equity committees, investors, bondholders, and secured and unsecured creditors, as well as purchasers and sellers of assets in bankruptcy cases. He has represented clients in industries including finance, environmental management, real estate, oil and gas, insurance, shipping, manufacturing and retail.

David's clients find him to be a smart and innovative lawyer with excellent analytical skills and superb judgment who is always thoroughly prepared.

Before joining Wilk Auslander, he was partner in an Am Law 100 firm, and for 13 years prior was a partner with Fulbright & Jaworski LLP, where he served as the Head of the New York Bankruptcy Group, and firm wide as the Co-Head of the Subprime and Credit Crisis Practice Group.

Representative Matters

David won a precedent-setting decision in the Second Circuit Court Appeals, allowing seven Brazilian pig-iron ore mines to move forward with their enforcement of a $50 million International Chamber of Commerce award issued in Paris against US entities and individuals, through veil-piercing and alter-ego claims in the Federal District Court for the Southern District of New York.  This was brought under the Federal Arbitration Act and the New York Convention allowing enforcement of foreign arbitral awards in the United States. CBF Indústria de Gusa S/A et al. v. AMCI Holdings, Inc., 846 F.3d 35 (2017).

Represented the receiver of the Ascot Fund, Ltd, a feeder fund to Madoff in the Madoff bankruptcy case, defending in excess of $500 million in claw-back claims. Picard v. Fairfield Greenwich Ltd., 762 F.3d 199 (2nd Cir. 2014).

Defended Hadassah, the Women’s Zionist Organization of America, a not-for profit organization which provides medical relief in Israel, from Madoff Trustee's $137 million claw-back claims.

Represented Chapter 7 trustee of Colonial Realty Co., a Ponzi scheme case with more than $3 billion in real estate assets owned by 64 syndicated limited partnerships; obtained first-impression decisions in Second Circuit Court of Appeals on enforcement of automatic stay against a quasi-governmental entity, defining outer limits of trustee's right to prosecute claims on behalf of creditors.  These decisions are cited in almost all Ponzi scheme cases.  Hirsch v. Arthur Anderson & Co., 72 F.3d 1085 (2nd Cir. 1995); F.D.I.C. v. Colonial Realty Co., 966 F.2d 57 (2nd Cir. 1992).

Represented a U.K. investment bank and Luxembourg asset fund in bankruptcy and state court litigation, and appellate proceedings in connection with investments in a U.S. technology company.  Argued both in bankruptcy court and to the bankruptcy appellate panel to dismiss all claims against the client, based upon a lack of jurisdiction after a sale of the debtor’s assets.  Maximillian & Co. v. Catalyst Investment Group (In re Endico, Inc.), (BAP No. UT-09-013 March 2, 2010).

After a four-week bench trial, obtained dismissal of all claims against general counsel and officer of failed company in $350 million breach of fiduciary duty and fraud case.

Represented Downtown Athletic Club, home of the Heisman Trophy, in its successful Chapter 11 restructuring through the commercial condo of the building, allowing the sale of the top 25 floors.

Represented the Carlisle Collection, the largest direct seller of high-end women's apparel in the United States with over $100 million in yearly revenue, through a Chapter 11 asset sale under Section 363 of the Bankruptcy Code to a joint venture formed by Tom James Company and Royal Spirit, Ltd.

Represented Jones Act shipping company in Chapter 11 case and led a trial team in bankruptcy court litigation with its hedge fund equity and lender partners over rights to construct and operate five petroleum carriers.

Represented fund and individual parties who ventured with Cerebus to purchase substantially all assets of AMF Bowling through a plan of reorganization, including an ability to utilize net operating loss carry-forwards.

Represented venture fund in non-judicial foreclosure of secured debt of Gargoyles, Inc., a sunglasses manufacturer, and then sale of business to Foster Grant.

Represented a Calgary-based oil sands producer and marketer of bitumen and holder of 440 million barrels of proved and provable bitumen reserves.  The company filed a Canadian bankruptcy case to convert $1 billion of debt to equity.  Represented the company in New York litigation with the administrative agent for $130 million of secured notes.

Represented CEXIM, the largest secured creditor, in one of the largest international shipping bankruptcy cases ever filed. CEXIM financed Overseas Shipholding Group ("OSG") and affiliated companies' purchase of five large ships which were manufactured by Chinese shipbuilding companies. The OSG case involved over 100 affiliated companies and a myriad of complex jurisdictional and international industry and insolvency laws.

Represented the largest privately held U.S. mailing-list broker and servicing company in corporate finance transaction and Chapter 11 filing.