Marc Abrams

Marc Abrams

SENIOR COUNSEL
WILMINGTON
T: 302.357.3279
Mobile 201.788.0374
F: 302.357.3281

Mr. Abrams is a Senior Counsel in the Business Solutions, Restructuring & Financial Litigation group and a leading practitioner in bankruptcy/restructuring. He has been instrumental, principally on behalf of debtors, in several complex chapter 11 cases and non-judicial restructurings. He also has extensive experience representing creditors’ committees and groups, opportunistic investors, pension plans and governmental guaranty funds and lenders. In addition, he has maintained a substantial cross-border practice involving foreign insolvency regimes and related cases under the Bankruptcy Code, including chapter 15 cases.

Company Side. Throughout his career, Mr. Abrams has regularly produced superior results on behalf of company-side clients in numerous complex chapter 11 cases and in several out-of-court restructurings, including seminal cases such as Adelphia Communications Corp., Angiotech Pharmaceuticals (chapter 15) and Teksid, Inc. In addition, he is a recognized leader and key advisor in cross-border representations. He frequently represents clients in the automotive, cable, construction, entertainment/recreation, financial products, health care, high-tech, hospitality, manufacturing, media, mining, retail, telecommunications and transportation industries.

Transactional Side.  Mr. Abrams regularly represents key stakeholders in both chapter 11 and out-of-court restructurings, including official and unofficial committees, strategic investors, purchasers and major creditors. As an industry leader, he is regularly called upon for his guidance and experience.
 

Recognitions

  • Senior Fellow: Litigation Counsel of America
  • Global M&A Network Turnaround Atlas Awards - 2017
  • Named on the Global M&A Network’s 2017 “A-List,” recognizing the top 100 restructuring & turnaround professionals
  • 2011 Professor Lawrence P. King Award in recognition of his achievements in the field of bankruptcy law and for his leadership in philanthropy
  • "2009 Dealmaker of the Year" by The American Lawyer (April 2010) for his work in the Delphi Corporation restructuring
  • Recognized by Lawdragon 2020-present as one of the 500 Leading U.S. Bankruptcy & Restructuring Lawyers
  • Received the 2012 IFLR Americas Awards in the "Restructuring Deal of the Year" category for his lead role in the cross-border (Canada/U.S.) restructuring of Angiotech Pharmaceuticals, Inc.
  • Consistently recognized by Chambers Global and Chambers USA as a leading practitioner in Bankruptcy/Restructuring
 

Memberships & Activities

  • Fellow: American College of Bankruptcy
    • Board Member 2016-2020
    • Board Member ACB Foundation
    • Former Circuit Regent 2010-2014
  • Member: International Insolvency Institute
  • Former Advisory Board Member: ABI’s Annual “Views from the Bench” Conference
Company Side

Representative in-court and out-of-court restructuring matters include:
  • Adelphia Communications Corp.
  • Alliance Entertainment Corp.
  • Allis-Chalmers Corp.
  • AMF Bowling Worldwide, Inc.
  • APS, Inc.
  • Claire's Stores, Inc.
  • Community Newspapers, Inc.
  • Days Inn of America, Inc.
  • Extraction Oil & Gas, Inc.
  • Integrated Resources, Inc.
  • Journal Register Company
  • L.M. Sandler & Sons, Inc.
  • LandAmerica Financial Group, Inc.
  • Lucky Bucks Holdings, LLC
  • Mosler, Inc.
  • Orion Pictures, Inc.
  • Petrie Retail, Inc.
  • Phoenix Steel Corp.
  • Prime Hospitality Corp.
  • RathGibson, Inc.
  • Schwinn Cycling & Fitness, Inc.
  • Starter Corp.
  • Sunterra Corp.
  • The LTV Corp.
  • The Multicare Companies
  • The Weinstein Company
  • USinternetworking, Inc.
  • Woodward & Lothrop, Inc.

Representative cross-border matters include:
  • Vivarte (ad hoc lender committee and anchor investors in the largest-ever fully consensual French restructuring; named as a 2015 Am Law Global Legal Awards “Deal of the Year”)
  • Angiotech Pharmaceuticals, Inc. (chapter 15 on behalf of the company)
  • Arctic Glacier International, Inc. (chapter 15, on behalf of CCAA Monitor)
  • Crystallex International Corp. (chapter 15, on behalf of the company)
  • Great Basin Gold (chapter 15, on behalf of CCAA Monitor)
  • Maple Bank (Canadian Branch) (WVRA liquidation, pending; on behalf of Canadian liquidation)
  • Pacific Exploration & Production Corporation (chapter 15, on behalf of CCAA Monitor)
  • Nortel Networks, Inc. (on behalf of UK Pension Schemes and UK PPF)
  • Walter Energy Canada, Inc. (on behalf of CCAA Monitor)
  • Readers’ Digest Association, Inc. (on behalf of UK PPF)
  • AMF Bowling (on behalf of UK PPF)
  • Teksid, Inc. (out-of-court restructuring involving operating assets located in 12 countries)

Transactional Side

Representative transactional side matters include:
  • Acosta, Inc. (on behalf of lead investors)
  • Cengage Learning, Inc. (Investigations Counsel)
  • Claire's Stores, Inc. (on behalf of the Ad Hoc Committee)
  • Delphi Corporation (on behalf of the Ad Hoc DIP Lender Committee)
  • General Growth Properties (on behalf of Brookfield Asset Management as cornerstone investor)
  • Next Wave Communications (on behalf of Northrop Grumman)
  • Residential Capital, LLC (on behalf of the Ad Hoc Committee)
  • Resort Finance America, LLC (on behalf of GMAC)
  • Rothschild, Inc. (as financial advisor to a major government-controlled company)
  • Sea Containers Services, Ltd. (on behalf of the Official Committee of UK Pension Schemes)
  • TOUSA, Inc. (pending; on behalf of the major debtholder)
  • Imerys Talc America, Inc. (Talc Victim Plaintiffs)
INSIGHTS
Mr. Abrams has served as a contributing editor for Collier on Bankruptcy, the preeminent treatise on bankruptcy law. He is co-author of the LexisNexis Practitioner’s Guide to Chapter 15 Bankruptcies, an extensive chapter in the LexisBankruptcy Portal. He has authored or co-authored numerous published articles, including "Why the tornado-like headwinds confronting the energy industry will likely produce a surge of bankruptcy transactions in the US," International Insolvency & Restructuring Report 2020/21, "Setting up the Sale: Bankruptcy 2015 – Views from the Bench," Best of ABI 2015: The Year in Business Bankruptcy, “Second Circuit Articulates the Standard for the Extinguishment of Liens Under a Chapter 11 Bankruptcy Pan,” Pratt’s Journal of Bankruptcy Law (November/December 2015), "Third Circuit Holds That Claims Are Disallowable Under Section 502(d) of the Bankruptcy Code No Matter Who Holds Them," Metropolitan Corporate Counsel (January 2014), "Exceptional Results Through Cross-Border Coordination," 24 Comm. Insol. R. 49-57 (June 2012), "Implications of the "Bad Faith Filing" Decision in GGP’s Bankruptcy Proceeding", BNA, Inc., Real Estate Law & Industry (2009), and "Key Rulings from the Delaware Bankruptcy Court’s Rejection of Washington Mutual’s Plan of Reorganization," Pratt’s Journal of Bankruptcy Law, Vol. 7, Number 8 (2011). Two of Mr. Abrams' articles are published in the Best of ABI 2012: The Year in Business Bankruptcy, including "Confirmation Roundtable: Planning for an Exit and Other Developments in Confirmation Jurisprudence" and "Tranche Warfare II: Multifaceted Intercreditor Disputes." He lectures frequently, including at conferences sponsored by the American College of Investment Counsel, the American Bankruptcy Institute, Valcon, the American College of Bankruptcy, National Conference of Bankruptcy Judges and the Association of the Bar of the City of New York. He is also a certified mediator for the U.S. Bankruptcy Courts for the Southern District of New York and the District of Delaware.

ARTICLES

Tornado-like Headwinds Confronting Energy Industry Likely to Produce Surge of Bankruptcy Transactions

Faced with unparalleled challenges the likes of which modern society has never seen before, economies around the world are combating the fallout from the global COVID-19 pandemic, market volatility, and civil unrest. And while certain industries may rebound in a manner consistent with economic revitalisation and growth, others – like the global oil and gas industry – are likely to end up in uncharted territories resulting from industry realignment and consolidation through restructuring and insolvency proceedings.

PRESENTATIONS

A Record 87 Whiteford Attorneys Listed in Best Lawyers in America 2024, Ten Selected as “Ones to Watch”

87 lawyers from Whiteford, Taylor & Preston have been selected by their peers for inclusion in The Best Lawyers in America® 2024 (copyright 2023 by Woodward/White, Inc., of Aiken S.C.). New practice areas of recognition include CleanTech Law and Entertainment and Sports Law. The lawyers selected are based in the firm’s Delaware, Maryland, Pennsylvania, Virginia and Washington offices. Client comments are posted on the Best Lawyers website, at bestlawfirms.com.

73 Whiteford Attorneys Listed in Best Lawyers in America 2023, Six Selected as “Lawyer of the Year”

73 lawyers from Whiteford, Taylor & Preston have been selected by their peers for inclusion in The Best Lawyers in America® 2023 (copyright 2022 by Woodward/White, Inc., of Aiken S.C.). The lawyers selected are based in the firm’s Delaware, Maryland, Pennsylvania, Virginia and Washington, D.C. offices. Client comments are posted on the U.S. News & Best Lawyers web site, at bestlawfirms.com.

75 Whiteford Attorneys Listed in Best Lawyers in America 2022, Eight Named “Ones to Watch”

A record 75 lawyers from Whiteford, Taylor & Preston have been selected by their peers for inclusion in The Best Lawyers in America® 2022 (copyright 2021 by Woodward/White, Inc., of Aiken S.C.). The lawyers selected are based in the firm’s Delaware, Maryland, Pennsylvania, Virginia and Washington offices. Client comments are posted on the U.S. News & Best Lawyers web site, at bestlawfirms.com.

71 Whiteford Attorneys Listed in Best Lawyers in America 2021, Six Named “Lawyer of the Year”

A record 71 lawyers from Whiteford, Taylor & Preston have been selected by their peers for inclusion in The Best Lawyers in America® 2021 (copyright 2020 by Woodward/White, Inc., of Aiken S.C.). The lawyers selected are based in the firm’s Delaware, Maryland, Pennsylvania, Virginia and Washington offices. Client comments are posted on the U.S. News & Best Lawyers web site, at bestlawfirms.com.

Leader of Global Bankruptcy Bar Joins Whiteford, Taylor & Preston

Whiteford Taylor & Preston is pleased to announce that Marc Abrams has joined the firm. Widely recognized as one of the preeminent bankruptcy practitioners in the United States, Mr. Abrams is also a leader in the burgeoning area of cross-border restructurings.