Brett S. Theisen

Brett S. Theisen serves as the Vice Chair of the firm’s Financial Restructuring & Creditors’ Rights Group. He has extensive experience in all aspects of debtor/creditor relations, with a particular focus on complex corporate reorganizations and liquidations, and bankruptcy and insolvency-related litigation and appeals. He brings a pragmatic, business-oriented and results-driven approach to his clients, which include debtors-in-possession, trustees and other fiduciaries, official committees of unsecured creditors, secured creditors and lenders, indenture trustees, insurers, asset purchasers, landlords and trade creditors.

Prior to practicing law, Mr. Theisen was an analyst in the equities trading division at a leading international investment bank. He also worked for a Manhattan-based, national sports agency, where he assisted in recruiting new clients, conducting due diligence in connection with contract negotiations, and securing endorsement and marketing opportunities for existing clients.

Recent Representative Matters:

Debtors-in-Possession:

• New England Motor Freight
• The Great Atlantic & Pacific Tea Co. (special litigation counsel)
• United Gilsonite Laboratories
• Birdsall Services Group
• Chieftain Sand and Proppant

Trustees:

• DBSI Inc.
  • Representation of the Chapter 11 trustee and the post-confirmation liquidating trustee in more than 150 jointly-administered Chapter 11 cases filed in the District of Delaware arising out of a complex real estate and securities-based Ponzi scheme.
  • Representation of the post-confirmation litigation trustee in dozens of lawsuits ranging from avoidance actions to civil RICO actions in the bankruptcy and district courts in Delaware, Idaho, and the Ninth Circuit Court of Appeals.
• Representation of Chapter 7 trustee in District of Delaware in fraud litigation against debtor’s controlling shareholders, a private equity firm and its individual partners.
• Representation of liquidating trust for a Chapter 11 retail debtor in District of Delaware.

Official Committees/Indenture Trustees:

• Trump Entertainment Resorts (unsecured creditors)
• Representation of indenture trustee in Chapter 11 case of a life sciences debtor in District of New Jersey.
• Representation of creditors’ committee in Chapter 11 case of an automotive dealership in District of New Jersey.

Litigation:

• Bernard L. Madoff Investment Securities
• Irish Bank Resolution Corp.
• The Budd Company
• G-I Holdings
• Revel AC, Inc.
• Representation of private equity firms and individual partners, directors and officers in actions for fraud, negligence, and breaches of fiduciary duty related to insolvency of portfolio companies.
• Representation of fraudulent transfer and preference defendants in assignment for the benefit of creditors proceedings.
• Representation of creditors in non-dischargeability actions.
• Representation of fuel distributor in breach of supply contract dispute with commodity broker.
• Representation of asset purchaser in dispute concerning use of NOLs arising out of sale of aircraft leasing business.

Creditors and Other Parties-In-Interest:

• Sears Holdings Corporation
• Westinghouse Electric Company
• Molycorp, Inc.
• Filene’s Basement
• Eastman Kodak Company
• AMR Corporation (American Airlines)
• Dots LLC
• Navillus Tile, Inc.
• Advanced Contracting Solutions, LLC
• Durr Mechanical Construction
• Associated Wholesalers Inc.
• The Diocese of Buffalo, N.Y.

Other:

• Commercial Foreclosures and Article 9 Proceedings
  • Representation of lenders and borrowers in foreclosure and replevin actions
• Liquor Licensing
  • Representation of public and private clients, including hotel groups, manufacturers, and municipalities, with regard to liquor licensing matters and related regulatory issues.

Reported Decisions:

Goldsmith v. Zazzali, 2019 U.S. Dist. 118490 (D. Idaho July 2, 2019)

Zazzali v. Goldsmith (In re DBSI Inc.), 593 B.R. 795 (Bankr. D. Idaho 2018)

In re DBSI Inc., James R. Zazzali as Trustee for the DBSI Estate Litigation Trust v. United States of America, (9th Cir. 2017)

McKillen v. Wallace (In re Irish Bank Resolution Corp. Ltd.), 2019 WL 4740249 (D. Del. Sept. 27, 2019)

In re: G-I Holdings, Inc. f/k/a GAF Corporation, et al., 580 B.R. 388 (Bankr. D.N.J. 2018)

In re: G-I Holdings, Inc. f/k/a GAF Corporation, et al., 568 B.R. 731 (Bankr. D.N.J. 2017)