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Jay R. Indyke is a partner in the Firm's Bankruptcy & Restructuring practice group. He has been a partner since 1998 at Kronish Lieb Weiner & Hellman LLP, which merged into Cooley Godward Kronish LLP in 2006. He is resident in the New York office. Mr. Indyke's practice is concentrated in the area of creditor's rights and bankruptcy. He has represented official creditors' committees in Chapter 11 bankruptcy proceedings in over 40 states and has also represented unofficial creditors' committees in out of court workouts and composition agreements in many industries, including apparel, sporting goods, electronics, textiles, footwear, food service, furniture, toys and healthcare. He has represented debtors in Chapter 11 cases in the areas of international trading, internet and cable and communications and the restaurant industry. He has represented purchasers of significant assets in several different industries. Mr. Indyke has also represented clients in a wide variety of bankruptcy-related litigation, and has played a significant role in the representation of equity committees.
Mr. Indyke was declared by The Deal's Bankruptcy Insider as one of the top unsecured creditor lawyers in the United States for the past six years and he was listed as one of the "Super Lawyers of New York" for the past several years.
Mr. Indyke's noteworthy representations include:
- Currently represents unsecured creditors committees in Pizzeria Uno, Eddie Bauer, G.I. Joe's Inc., Ritz Camera Centers, Mervyn's, The Sharper Image, Lillian Vernon, BTWW, KB Toys, Big 10 Tires, EJ's Shoes and Ski Market.
- The official committee of unsecured creditors of Hancock Fabrics, the first retailer since the implementation of the 2005 bankruptcy amendments to emerge successfully as an unimparied reorganized entity, negotiating a plan providing for a 104.93% cash distribution to unsecured creditors.
- The winning bidding consortium for the assets of Tower Records.
- The official committee of unsecured creditors of Footstar and its Just for Feet subsidiary in the Southern District of New York, where unsecured creditors received an approximate 104% cash distribution.
- The official committee of unsecured creditors of Bob's Stores in the District of Delaware, where after securing an alternative bidder for a going concern sale of the company the unsecured creditors distribution went from a projected 30% to 98.5% cash.
- The official committee of unsecured creditors of Allied Stores Corporation in the bankruptcy of the Campeau owned Federated Department Stores/Allied combination of department store chains in the Southern District of Ohio, at the time the largest bankruptcy in the country, where the Allied unsecured creditors received a 100% return.
- The official committee of unsecured creditors of Elder Beerman Stores in Dayton, Ohio where, with a combination of equity and cash, unsecured creditors received a return which shortly after emergence was valued at approximately 128%.
- The official committee of unsecured creditors of Liberty House, the largest bankruptcy filing in the state of Hawaii, where unsecured creditors received a recovery of approximately 90%.
- Okura & Co Trading as lead restructuring counsel for the United States arm of a Japanese keiretsu, overseeing the disposition of multiple assets and disentangling relationships with affiliated entities involving the insolvency laws of the United States, United Kingdom, Japan, Canada, Germany and Hong Kong, in the Southern District of New York.
- The successful purchaser of assets of the national furniture chain Breuners/Huffman Koos/Goods in the District of Delaware.
- The trustees of an English trust in The Consumers Trust bankruptcy pending in the Southern District of New York.
- Official creditors committees in other widely known bankruptcies such as Federated Department Stores in Ohio, Florsheim Shoes in Illinois, Herman's Sporting Goods in New Jersey, Long John Silver Restaurants in Delaware, The Walking Company in California, The Athlete's Foot in New York, P.A. Bergner/Carson Pirie Scott in Wisconsin, Filene's Basement in Massachusetts, Richman Gordman in Nebraska, Stage Stores in Texas, Levitz Home Furnishings in New York, SportsTown in Georgia, Copeland's Enterprises in Delaware, The Bombay Company in Texas, Steve & Barry's in New York, Goody's Family Clothing in Delaware, Princeton Ski Shops in New Jersey, Harvey Electronics in New York, as well as hundreds of others.
- Unofficial committees in CompUSA in Dallas Texas, Rag Shops in New Jersey, K's Merchandise Mart in Illinois, Mortt's Distributors in New Hampshire, Klein's All Sports in New York, Work 'n Gear in Massachusetts, Dunlaps in Texas, Boot Town in Texas, Ski Market in Massachusetts, and many more.
- Clients as creditors and claimants in bankruptcy cases such as Enron, MCI/WorldCom, Teligent, Ames Department Stores, Cornerstone Propane in New York, Linen's n' Things in Delaware, Bally Health & Fitness, Hawaiian Airlines in Hawaii, Hedstrom in Illinois, Mirant in Texas and Irwin Toys in Ontario, Canada.
Mr. Indyke was a partner at the boutique bankruptcy firm Siegel, Sommers & Schwartz from 1987 until 1998, when the firm effectively merged into Kronish Lieb Weiner & Hellman.
Mr. Indyke earned a J.D. from Brooklyn Law School in 1981 where he was named to the Moot Court Honor Society. He received his B.A. , graduating magna cum laude, from the University at Albany in 1978. He has been an adjunct professor at New York University for eleven years where he has taught courses in Debtor/Creditor Law.
Mr. Indyke frequently addresses creditor groups, corporate credit departments and many conventions and conferences regarding creditors' rights and bankruptcy matters. Mr. Indyke has been addressing the most significant changes to the United States bankruptcy laws in the past twenty years, engendered by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. He co-authored the two part article "New Bankruptcy Amendments: Major Changes Shift Leverage in Favor of Special Interests" appearing in the July/August and September 2005 issues of the ABF Journal, as well as the 2006 Journal of Bankruptcy Law and Practice. He has also co-authored the article "Ending the 'Hypothetical' vs. 'Actual' Test Debate: A New Way to Read Section 365 (c)(1)", which appeared in the April 2007 issue of the Journal of Bankruptcy Law and Practice. He co-authored an article for the American Bankruptcy Institute titled "Views on Retailer Bankruptcies" in November 2008. He has recently lectured credit groups in the sporting goods, footwear, ski and winter goods, electronics, advertising and manufactured homes industries at various presentations throughout the country on the new bankruptcy amendments, the impact of second lien debt on restructurings, and the growth of hedge fund and private equity investment. He was recently a panelist with sitting bankruptcy judges of the 7th Annual Association of Insolvency & Restructuring Advisors Conference and of the American Bankruptcy Institute's - Delaware Views from the Bench and Bar. Mr. Indyke was inducted into the Global Credit Services Hall of Fame in 2006.
Mr. Indyke is admitted to practice before the U.S. Court of Appeals for the First and Second Circuits, the U.S. District Court for the Northern, Eastern and Southern Districts of New York, the Eastern District of Wisconsin and New York State. He is a member of the New York State Bar Association and the American Bankruptcy Institute.
Education- Brooklyn Law School
JD, 1981, Moot Court Honor Society - State University of New York at Albany
BA, 1978, magna cum laude
Court Admissions
- U.S. Court of Appeals, First Circuit
- U.S. Court of Appeals, Second Circuit
- U.S. District Court, Eastern District of New York
- U.S. District Court, Eastern District of Wisconsin
- U.S. District Court, Northern District of New York
- U.S. District Court, Southern District of New York
Admissions
Memberships
- American Bankruptcy Institute
- New York State Bar Association
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