NEW YORK, Sept. 24, 2020 /PRNewswire/ -- Cole Schotz P.C. announces today that Michael Sirota, co-managing shareholder of the firm and co-chair of its national Bankruptcy & Corporate Restructuring Department, has been named a 2020 New Jersey Trailblazer by the New Jersey Law Journal, which recognized him as a "change agent," innovator and thought leader.
Mr. Sirota was recognized for his groundbreaking work as debtor's counsel representing Modell's Sporting Goods in its Chapter 11 proceedings as COVID-19 erupted across the United States. Mr. Sirota and his team turned to the rarely used Section 305(a) of the Bankruptcy Code to suspend the bankruptcy hearings for their client for the duration of the mandatory store closures. His use of 305(a) resulted in several other judges also embracing the concept of pausing bankruptcy proceedings during the pandemic.
The Modell's representation is just one instance of the Cole Schotz bankruptcy group developing innovative strategies to help a diverse client base across industries such as retail, pharmaceutical, and hospitality, to name a few, in navigating new challenges brought on by the pandemic. Other recent high-profile matters on which the firm is representing the company or creditors' committee include Chapter 11 cases for Pier 1, Neiman Marcus, True Religion, LVI Holdco, Sur La Table, and J.C. Penney.
"Our clients have faced extraordinary challenges brought on by the COVID-19 pandemic and we're thankful they have turned to us to help them find creative solutions to accomplish their objectives," Mr. Sirota said. "Cole Schotz restructuring lawyers are working tirelessly across the country to advocate on behalf of our clients' interests amid these turbulent times."
Since the start of 2019, Cole Schotz has represented parties in more than 300 bankruptcy matters in the retail, hospitality, pharmaceutical and life sciences, energy, and many other industries. These include advising on filings involving Purdue Pharma, Novum Pharma, Destination Maternity, Landry's (purchaser), Hilltop Energy, and many others.
"In 2020, Sur La Table consummated a going concern sale in record time, exited bankruptcy with new owners and is now on solid financial footing due to the expertise, intelligence, and hard work of Michael Sirota and the Cole Schotz team," said retailer Sur La Table CEO Jason Goldberger. "I have no doubt that our successful exit would not have happened without Cole Schotz."
Cole Schotz' Bankruptcy & Corporate Restructuring practice is a distinguished and nationally renowned full-service group that remarkably has 14 lawyers ranked in four states in Chambers USA: America's Leading Lawyers for Business and is lauded for a track record that boasts unparalleled effectiveness, success and value.
The New Jersey Trailblazers list was launched by the New Jersey Law Journal in 2019 and this year's feature was included as part of the August 2020 issue. The New Jersey Trailblazers distinction is given to attorneys who have made significant marks on the practice, policy and technological advancement of their practice areas. The profile of Mr. Sirota may be viewed on Page 18 of the digital edition here.
About Cole Schotz:
Cole Schotz P.C. serves clients nationally from its offices in New Jersey, New York, Delaware, Maryland, Texas and Florida. The firm represents a variety of entities including private equity firms, hedge funds, closely-held businesses, Fortune 500 companies and select individuals. Founded in 1928, the firm has attorneys who provide counsel in a number of primary areas of practice: Bankruptcy & Corporate Restructuring; Blockchain Technology and Digital Currency; Cannabis; Construction; Corporate, Finance & Business Transactions; Employment; Environmental; Healthcare; Intellectual Property; Litigation; Real Estate; Real Estate Special Opportunities; Restaurant & Hospitality; Sports; Tax, Trusts & Estates; and White Collar Litigation & Government Investigations.
SOURCE Cole Schotz P.C.