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Tysons Corner, VA (September 12, 2006) - Adding to one of the strongest regional bankruptcy practices in the greater Washington D.C. market, Venable LLP has added Stephen K. Gallagher, an experienced bankruptcy and restructuring attorney, as a partner in the firm's offices in Northern Virginia and in Washington, D.C.

Mr. Gallagher, 46, has been selected as one of The Best Lawyers in America for 2007 in Bankruptcy and Creditor-Debtor Rights Law and joins Venable from the Virginia-based law firm of LeClair Ryan.

Mr. Gallagher operates in all areas of commercial litigation, corporate bankruptcy and restructuring, including the restructuring of nonprofits. He also brings significant experience representing clients in the purchase and sale of assets from entities in Chapter 11 proceedings -- the lesser-known, but highly active acquisition side of the bankruptcy world.

"Steve is a great addition to our practice group. He has a wealth of experience in complex bankruptcy matters and litigation, and his talents will greatly enhance both our regional and national work," stated Greg Cross, head of Venable's Bankruptcy and Creditor's Rights Group. "He has also developed a leading-edge practice in many aspects of bankruptcy law, including bankruptcy sales. Representing buyers and sellers in the disposition of assets during Chapter 11 proceedings can be among the most challenging work in bankruptcy."

Among his notable work, Mr. Gallagher has represented debtors in the bankruptcy cases of Ceyoniq, Inc., National Spa and Pool Association, CPOR, Inc. and International Society of Fire Service Instructors; the Creditors' Committee in Securiguard, Inc. and Network Storage Solutions; as well as creditors or bidders in corporate Chapter 11 cases such as Global Crossing, Winstar, Ameriserve, IT Corporation, Aleron, Pathnet, TalkingNets, Levitz Home Furnishings, Computer Learning Centers and US Airways.

"Venable is a great place for the practice I've developed. The firm has a deep and experienced bench in bankruptcy and restructuring, and a great interdisciplinary team of attorneys in litigation and corporate finance who can jump in and provide top-notch support on any matter, including challenging financial transactions related to Chapter 11," Mr. Gallagher said. "Venable's depth, from its litigation, corporate, labor and intellectual property practices to its broad finance experience, provides an outstanding platform from which to further grow my practice. It will also advance my nonprofit and trade association restructuring work."

The addition of Mr. Gallagher is the latest in a series of recent good news for Venable's bankruptcy practice. The firm recently added Edward Smith, former Assistant U.S. Attorney in New York's Southern District, to its bankruptcy roster in the New York office. Additionally, Mr. Cross and Baltimore bankruptcy partner Richard Wasserman were selected as Maryland's "Legal Elite" by Baltimore SmartCEO magazine, with four other Venable attorneys joining the list. Tysons Corner bankruptcy partner Lawrence Katz, who recently secured a victory before the U.S. Supreme Court in a bankruptcy-related matter, has just been named a finalist in the "Top Washington Lawyers" awards by the Washington Business Journal. The winners will be selected next month. "Steve's arrival brings our number of bankruptcy lawyers to eighteen and further enhances our coverage of cases not just regionally, but nationwide," Mr. Katz said.

Mr. Gallagher is a member of the American Bankruptcy Institute and a member of the editorial committee for the Bankruptcy Law News publication of the Bankruptcy Section of the Virginia State Bar. He is Chairman of the Board of the Virginia State Bar's Clients' Protection Fund, and serves as an officer of the Walter Chandler American Inn of Court. Mr. Gallagher clerked for the Honorable Blackwell Shelley in the Bankruptcy Court for the Eastern District of Virginia.

Mr. Gallagher earned his J.D. in Banking and Financial Services Law from George Mason University School of Law in 1994, where he was Associate Journal Editor of the Letter of Credit Update, and holds a B.S. in Psychology from James Madison University.

One of the American Lawyer’s top 100 law firms, Venable LLP has attorneys practicing in all areas of corporate and business law, complex litigation, intellectual property and government affairs. Venable serves corporate, institutional, governmental, nonprofit and individual clients throughout the U.S. and around the world from its headquarters in Washington, D.C. and offices in California, Maryland, New York and Virginia. For more, visit www.Venable.com.