A Versatile Powerhouse: How Selendy Gay Elsberg Built a Trial-Forward Bankruptcy Practice

11/29/2022

A Versatile Powerhouse: How Selendy Gay Elsberg Built a Trial-Forward Bankruptcy Practice

Selendy Gay Elsberg is featured by Lawdragon in a piece that highlights the firm’s leading bankruptcy practice. In the article, partners David Elsberg, David Flugman, Maria Ginzburg, and Lena Konanova share how the firm leverages the ingenuity and investigative skills of its trial lawyers on behalf of clients navigating large-scale bankruptcy litigations.

“We don’t have departments other than our litigation practice,” said David Elsberg. “We have a reputation for being a firm that will go all the way through a trial if we don’t get a settlement that our client believes is right. Our calling card is that we go in to litigate and win.”

“We are a hardcore litigation firm. Litigations and investigations are what we do,” added Maria. “So, we come at bankruptcy from the point of view of being trial lawyers.”

The partners also highlighted the firm’s many competitive advantages, including a rigorous associate development program, sophisticated strategy development and analytical skills, experience on both sides of the “v.”, and a drive to maximize speed and efficiency.

“[Associates] learn very quickly that in our firm, if you're on a case, we want you to be thinking about the entire case – looking around corners, being creative and talking to people about it,” said Lena. “Associates quickly get used to it, and they love it.”

The firm’s bankruptcy work covers a number of large litigations.  Among the most high-profile of the firm’s cases is their current representation of the liquidators of what was the largest feeder fund in Bernie Madoff’s infamous $65B Ponzi scheme, Fairfield Sentry Limited. In these cases, the team is suing more than 1,000 defendants in more than 300 actions.

The firm’s public interest focus ensures that even these large corporate litigations contain a personal element. For instance, the firm represents a trustee for the Commonwealth Avoidance Actions Trust, seeking, among other things, the recovery of hundreds of millions of dollars of underwriting fees and swap termination fees from 13 major Wall Street banks for their role in deepening Puerto Rico’s debt crisis. In a pro bono matter, the firm represents a group of families whose children were victims in the Sandy Hook Elementary School Shooting and are seeking to preserve claims against firearms manufacturer Remington Outdoor Co., despite the company’s filing for Chapter 11 bankruptcy protection.

“Behind these multibillion-dollar bankruptcies, there are real people,” said David Flugman.

Read the full article here.