Represents Iridium as Co-Debtors’ Counsel and U.S. Office Products as Debtors’ Counsel in Chapter 11 Filings
BALTIMORE (January 8, 2008) – Adding to its national bankruptcy practice as the pace of corporate restructurings and workouts has taken a pronounced tick upward, Venable LLP announced that experienced bankruptcy lawyer Andrew J. Currie has joined the firm as a partner in the Baltimore office.
Mr. Currie, 38, has a well-rounded background in business bankruptcy, including litigation, restructurings, out-of-court workouts and insolvencies. He has represented debtors as well as creditor committees (secured and unsecured), equity holders and lenders, and also buyers and sellers of assets both in and outside of bankruptcy.
Mr. Currie serves as counsel for U.S. Office Products Company, the country’s third largest office supply business. USOP originally faced more than $1 billion in debt including over 7,000 creditor claims, which Mr. Currie helped restructure.
He also served as debtors’ counsel for satellite and telecommunications provider Iridium, LLC. At the time of its Chapter 11 filing, Iridium was the largest telecom bankruptcy on record, though it would soon be overshadowed by the likes of Global Crossing and WorldCom.
Mr. Currie estimates that he has negotiated and resolved more than 7,000 claims in his career, including administrative and priority claims, while pursuing and defending over 2,000 preference actions. That includes his role in litigation and mediating several multi-million dollar actions. He has also managed an estimated 300 reclamation claims.
Other noteworthy bankruptcies in which he has participated include EXDS, Inc., Homelife Inc., Budget Group, Inc., Exide Corp., LTV Steel Company, Bethlehem Steel Corp., Federal-Mogul Global, HomeLife Corporation, National Steel Corporation, Hayes Lemmerz International, Inc. and Ogden New York Services, Inc.
“Andrew is a great addition to our growing practice. He has a plethora of experience on the national scene, handling every phase of the Chapter 11 cycle and working in a variety of industries that will continue to draw attention in 2008, including automotive and steel, as well as retail, financial services and food services,” said Greg Cross, chair of Venable’s Bankruptcy and Creditors’ Rights Group.
Mr. Cross noted that the bankruptcy group has been heavily engaged in recent months, including assignments related to the collapse of the subprime mortgage market. Mr. Cross himself has been overseeing one of the largest individual asset workouts in the country. “Obviously a great many sectors are under some stress and we expect to field a lot of new work in the year ahead,” Mr. Cross said. “With his track record both in and out of litigation, including debtor financing and bankruptcy-related transactions, Andrew is certain to be right in the center of our practice.”
Mr. Currie has written on and taught bankruptcy law and since 2003 has been a guest lecturer on Chapter 11 and restructuring topics at Georgetown’s McDonough School of Business. He is a contributing editor for Norton Bankruptcy Law and Practice and contributed a chapter to a 2006 handbook on cross-border restructurings and insolvencies. He has also written for the American Bankruptcy Institute’s ABI Journal. Mr. Currie has been recognized as a top bankruptcy lawyer by both American Lawyer and The Deal.
“Venable is a great fit for my practice,” he said. “The firm has built a strong bankruptcy and restructuring team, on the national and regional levels, representing all the critical constituencies in Chapter 11 matters. Venable has a well–balanced and experienced group of corporate and litigation attorneys who can provide excellent advice and support on the most challenging restructuring proceedings.”
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.