Richard practices complex business litigation and corporate bankruptcy and is regularly involved in commercial disputes in the Federal and State Courts in Delaware and throughout the United States. He represents businesses and other constituencies in complex litigation and bankruptcy and practices before the Delaware Court of Chancery, the Complex Commercial Litigation Division of the Delaware Superior Court, and the United States Bankruptcy Court for the District of Delaware.
In addition to his trial practice, Richard has advised clients in a diverse array of specialized engagements, including representing assignees for the benefit of creditors in ABC proceedings in the Delaware Court of Chancery, representing independent directors and other independent fiduciaries in corporate investigations, representing businesses in out-of-court restructurings and Article 9 transactions, participating in litigation and restructuring cases in Canada in connection with cross border disputes, and being retained as an expert witness on Delaware corporate law and Chapter 11 bankruptcy.
Richard’s notable experiences and accomplishments include the following:
- Obtained summary judgment for a lender against an affiliate of its SPE borrower for breach of a subordination agreement arising out of an unauthorized collateral transfer.
- Obtained a mandatory injunction in favor of a private equity fund to enforce debt conversion rights against a public company defendant.
- Successfully represented an unsecured creditors committee in the Chapter 11 case of an industrial manufacturer that resulted in a channeling injunction for future claims involving trichloroethylene.
- Secured a verdict in a corporate appraisal case for a dissenting shareholder that resulted in a substantial increase in value from the offering price.
- Managed a national litigation program to pursue recoveries on a defaulted loan portfolio for investors in a failed asset-based lender which involved litigation and bankruptcy representation in numerous U.S. jurisdictions and Canada.
- Achieved 100% unsecured creditor distributions through representation of unsecured creditors committees in the Chapter 11 cases of Jones Stephens Corporation (plumbing supply wholesale distributor and manufacturer), Cooper-Booth Wholesale Company (wholesale food and tobacco distributor) and Saladworks, LLC (causal dining franchisor).
- Obtained trial verdict for commercial lender for legal malpractice involving the documentation of a complex asset-based financing and related collateral valuations.
- Obtained dismissal of a securities fraud case brought against an internet company in New York that was affirmed by the Second Circuit Court of Appeals.
- Represented a former member of a Delaware limited liability company in successful extension of “fee advancement” doctrine in connection with indemnification obligations for fiduciary duty and breach of contract litigation.
- Successfully defeated a challenge to Delaware’s confession of judgment procedures in the Delaware Supreme Court.
- Represented a liquidating trust in a telecommunications Chapter 11 bankruptcy in litigation against numerous parties associated with fraud committed by two officers of the corporation.
- Brought an involuntary Chapter 7 bankruptcy on behalf of investors in a failed technology company to pursue directors and officers litigation that resulted in a substantial settlement.
- Represented a litigation trust against an international telecommunications company over its termination of a retail joint venture.
- Obtained dismissal of a consumer class action lawsuit for a national automobile insurer that was affirmed by the Delaware Supreme Court.
University of Notre Dame, J.D.
Temple University, LL.M. in Trial Advocacy
Boston College, B.A.
Instructor, LLM program in trial advocacy, Temple University School of Law
Participant, Leadership, Inc.
Member, Delaware Bar Association
Member, American Bankruptcy Institute
Member, Board of Trustees, Archmere Academy
Founder, Notre Dame Lawyers Committee of Philadelphia