Richard Stern


Richard Stern has practiced bankruptcy law for over 35 years.  He has been appointed as a fiduciary in several bankruptcy matters and regularly represents financial institutions in out-of-court workouts, restructurings, bankruptcy proceedings and lending transactions with an emphasis on complex financial restructurings.  His recent focus has been assisting lenders with unique issues arising out of the COVID-19 pandemic including workouts and insolvencies in the travel, healthcare, retail and hedge fund industries.
Richard is a Fellow and Member of the Board of Directors of the American College of Bankruptcy, a Fellow of the American Bar Foundation and has been recognized by Chambers USA as a leading bankruptcy lawyer each year since 2001, by Lawdragon as one of the 500 Leading U.S. Bankruptcy and Restructuring Lawyers and by Super Lawyers, IFLR 1000, Martindale-Hubbard and  Best Lawyers in America in the areas of Bankruptcy and Creditor Rights and Reorganization Law.
Contact Richard Stern

Phone: (212) 597-8210
V-Card: download here

Selected Matters

  • A financial institution with claims against a hedge fund arising out of the termination of variance and volatility swaps. Primary architect of a consensual out of court liquidation of the hedge fund and resolution and payment of counterparty claims with the assistance of an independent plan facilitator.
  • Six financial institutions with revolving credit loans in the successful out of court restructuring of Travelport Worldwide Limited.
  • Agent for first lien lenders in the recapitalization and out of court restructuring of Tronair, Inc., a manufacturer of airport ground support equipment.
  • Agent for a group of secured lenders in the repayment in full of their claims in The Hertz Corporation chapter 11 proceedings.
  • A financial institution with claims arising out of the termination of repurchase agreements with several publicly traded mREITS.
  • Eight secured bilateral lenders in the chapter 11 case of Miami Metals (f/k/a Republic Metals Corporation).
  • Repayment of a secured lender in the workout then chapter 11 case of Rochester Drug, Co-Operative, Inc., a distributor of pharmaceuticals which liquidated following the settlement of criminal and civil charges brought by the federal government.
  • Agents, secured lenders and hedge providers in out of court restructurings and chapter 11 cases in the energy and mining industries including companies owning gold mines, exploratory assets, wind farms, and oil and natural gas reserves.
  • Agent, secured lenders and hedge providers in the workout and chapter 11 case of Mineral Park, Inc., the owner of a copper mine in Arizona, and in the CCAA proceeding in Vancouver of Mercator Ltd., its parent company.
  • A secured lender in the chapter 11 case of Transmar Commodity Group Ltd., a seller of cocoa products that defrauded its lenders under a $410 million credit facility.
  • Multimedia companies in the bankruptcy cases of their counterparties including The Weinstein Company, Relativity Media, THQ, Inc., Rdio, Inc. and Core Media Group.


  • Agent and secured lenders in the $1.5 billion debt restructuring and consensual transfer to the lenders of four power plants and in the acquisition of an ethanol plant pursuant to a credit bid under Section 363 of the Bankruptcy Code.
  • Secured lenders in the restructuring of loans and interest rate swaps with the owner of a parking concession and the out of court transfer of the concession to the lenders.
  • Lenders in restructurings of cloud hosting and digital cinema companies.
  • Agent for a group of lenders in the restructuring of a loan to the owner of a power plant in Pakistan including the negotiation of an Eximbank guarantee.
  • A letter of credit provider in the restructuring of a facility backing bonds issued by an agency of a financially troubled California municipality.
  • Agent for a group of lenders in the workout of an oil and gas company nationalized by Venezuela, named Latin Lawyer’s “2008 Deal of the Year”.

Court Appointments

  • Fee examiner in the Eastman Kodak chapter 11 cases
  • Examiner in the North General Hospital chapter 11 case

Court Admissions

  • New York, Southern and Eastern Districts of New York
  • United States Supreme Court

Professional Activities

  • Director, Fellow, Member of Policy Committee and Former Member of Pro Bono Committee, American College of Bankruptcy
  • Fellow, American Bar Foundation
  • Member of Register of Mediators for the Bankruptcy Courts for the Southern and Eastern Districts of New York and the District of Delaware
  • Member of the Steering Committee of the annual Brooklyn Law School Zaretsky Roundtable on commercial and bankruptcy law topics
  • Member of American Bankruptcy Institute, American Bar Association, NYS Bar Association and Association of the Bar of the City of New York

Publications and Lectures

  • Co-Author, “When the Borrower Tosses the Keys…Should You Catch Them?” ABF Journal, Volume 13, No. 5, July/August 2014
  • Author, “Credit Bidding under the Bankruptcy Code: Recent Developments, a Case Study and Suggested Strategies for the Secured Creditor” published by Aspatore Books as a chapter in Creditors Rights in Chapter 11 Cases (2012 ed.)
  • Lectures frequently on workouts of troubled loans, developments in bankruptcy law and the treatment of derivatives in bankruptcy

Previous Experience

  • Partner and co-chair of the Corporate Reorganization and Bankruptcy Department, and a member of the Executive Committee, Hughes Hubbard & Reed (2008-2012)
  • Partner, Luskin, Stern & Eisler LLP (1989-2008)
  • Associate, then Partner, Moses & Singer (1981-1989)
  • Law Clerk, Hon. Cecelia Goetz, Bankruptcy Court, E.D.N.Y. (1979-1981)


Brooklyn Law School, J.D., 1979, Senior Editor, Law Review

SUNY Binghamton, B.A., 1976, Highest Honors in Political Science