Adam’s current out-of-court representations include advising a large operator of international franchised casual dining and quick service restaurants. He recently represented a large New York City acute-care, community-based teaching hospital (at the forefront of New York’s COVID-19 response) in its complex financial and operational nonbankruptcy restructuring. Adam’s prior debtor work includes representing Constellation Enterprises and its subsidiaries (Jorgensen Forge, Commercial Metals, Zero Manufacturing and Columbus Steel Co.) in their Chapter 11 cases, involving going-concern sales of the majority of the debtors’ businesses to a group of the debtors’ secured noteholders. Adam also represented St. Vincent’s Catholic Medical Center, the historic New York City acute-care hospital, and related entities, including the nursing and rehabilitation homes and the behavioral health hospital, as debtors-in-possession in their Chapter 11 cases; and advised Genco Shipping & Trading Ltd. and 57 affiliates in their contested, prepackaged Chapter 11 cases, in which the company successfully converted over US$1.2 billion of secured and unsecured debt into equity, raised US$100 million of new equity and restructured two other secured term-loan facilities. Some of his other prior debtor engagements include Targus (consumer products), General Maritime Corp. and related entities (shipping), Bayonne Medical Center (hospital/health care); Lodgian Inc. (hotels/hospitality), Casual Male Corp. (retail), Bradlees Stores Inc. (retail), Just For Feet Inc. (retail), Best Products Co. Inc. (retail), R.H. Macy & Co. (retail), The Grand Union Co. (supermarket), G. Heileman Brewing Co. Inc. (manufacturing), Metallurg Inc. (mining), The Drexel Burnham Lambert Group Inc. (financial services) and Ionosphere Clubs Inc. (Eastern Airlines). Many of Adam’s company-side clients have operations in both the United States and internationally, bringing to bear complex cross-border restructuring issues. Adam also advises private equity sponsors with respect to distressed portfolio companies, including corporate governance matters. As part of his company experience, Adam also advises independent directors serving on boards of distressed businesses.
Adam also has represented the official unsecured creditors’ committees in some of the largest and most well-known bankruptcies in the country, including the Official Committee of Unsecured Creditors of Forever 21, Toys “R” Us, NII Holdings Inc. (an international telecommunications company and a leading provider of mobile communication services operating under the Nextel brand in Latin America), Patriot Coal Corp., General Motors Corp. and Chrysler LLC cases, and the Committee of Ad Hoc Unsecured Creditors of K’s Merchandise Mart in an out-of-court restructuring.
Chambers USA recognizes Adam as a leading practitioner in bankruptcy and corporate restructuring, whom clients say “is one of the smartest guys from a technical standpoint. His key strength is that he’s well versed in the law, but also his experience level.” Other sources note that he is not only “well trained and very competent” but also “very effective at getting things done” — “a bulldog [who] fights issues well when needed” and who possesses a “really impressive level of commitment and intelligence.” His outstanding record led Global Insolvency & Restructuring Review to name him one of its “Top 40 Under 40” global insolvency practitioners in 2000. He has been recognized multiple times in both Chambers and Legal 500.
Adam has contributed extensively to the most important publications in the area of bankruptcy and corporate restructuring. He has served as a member of the LexisNexis Advisory Board. He also assisted in the development of the Collier Guide to Chapter 11, in which he authored the chapter on hospital and health care businesses in Chapter 11. This Guide has now been merged with the Collier Bankruptcy Practice Guide, for which he is responsible for both the distressed health care chapter and the retail chapter. He is the general editor and co-author of the Collier International Business Insolvency Guide, serves as a contributing author to Collier on Bankruptcy and Collier Bankruptcy Manual, and is an editorial board member of and contributor to The Bankruptcy Strategist. He has served on the advisory board of Law360’s expert series on bankruptcy matters. In 2005, he received the Burton Award for Legal Writing for his co-authored article in the New York Law Journal, “China Takes Active Steps Towards Reform.”