Bankruptcy and Financial Distress Litigation

With one of the largest in-house teams of economists in the economic consulting world, NERA's Bankruptcy and Financial Distress Litigation Practice combines expertise in economics, finance, accounting, and valuation with specific industry knowledge. Our experts provide economic analysis of securities disputes and corporate governance, valuation of companies, portfolios including assets and derivatives, and professional compensation. In addition to employing standard valuation methods, NERA economists draw on advanced valuation techniques and econometric and statistical models, as needed.

We assist clients in disputes over:

  • Plan confirmation
  • Preference and fraudulent conveyance claims
  • Solvency and valuation disputes
  • Alleged breaches of fiduciary duty by directors and officers of distressed companies
  • Lender liability claims
  • The feasibility of alternative restructuring plans

We are also frequently retained by litigation counsel to provide expert testimony involving these and other claims in bankruptcy adversary proceedings. Our capabilities include:

  • Expert testimony on liability and damages
  • Solvency and capital adequacy analysis in fraudulent conveyance and bankruptcy
  • Valuation of assets, including enterprises and intangible assets
  • Valuation of derivatives and complex securities
  • Assessment of the reasonableness of certain assumptions used in valuation, using market indicators such as credit default swaps
  • Cash flow analysis of the effect of transfers on the solvency and capital adequacy of the debtor
  • Econometric modeling for assessing projections
  • Valuation, at the time of transfer, of long-tailed liabilities or other disputed claims

We have experience and specialized institutional knowledge in industries including energy, health care, oil and gas, construction, financial services, housing finance, and media and telecommunications. We also have expertise in finance, accounting, antitrust economics (analysis of competitive effects), structured finance, mass tort and liability valuation, analysis of ERISA plans, intellectual property valuation, and transfer pricing.

Clients benefit from the integration of the expertise of our many professional disciplines, our experience as consultants, testifying experts, and arbitrators, and our firm's exacting standards for rigor and objectivity.

Name Title Location Phone Email
Lucy P. Allen Managing Director New York City +1 212 345 5913 lucy.allen@nera.com
Dr. Patrick Conroy Managing Director
Chair of NERA's Securities and Finance Practice
New York City +1 212 345 1466 patrick.conroy@nera.com
John Garvey Managing Director Chicago +1 312 573 2801 john.garvey@nera.com
Dr. Anne Gron Managing Director Chicago +1 312 573 2850 anne.gron@nera.com
Dr. Denise Neumann Martin Managing Director New York City +1 212 345 5296 denise.martin@nera.com
Dr. Faten Sabry Managing Director
Bankruptcy Practice Chair
New York City
London
+1 212 345 3285
+44 20 7659 8618
faten.sabry@nera.com
Dr. Ramsey Shehadeh Managing Director New York City +1 212 345 6089 ramsey.shehadeh@nera.com
Dr. David Tabak Managing Director New York City +1 212 345 2176 david.tabak@nera.com
Dr. Sharon Brown-Hruska Director Washington, DC +1 202 466 9222 sharon.brown.hruska@nera.com
Mary Elizabeth C. Stern Director White Plains, NY +1 914 448 4054 mary.elizabeth.stern@nera.com
Jorge Baez Associate Director New York City +1 212 345 5753 jorge.baez@nera.com
Drew Claxton Associate Director New York City +1 212 345 3442 drew.claxton@nera.com
Oksana Kitaychik Associate Director New York City +1 212 345 1094 oksana.kitaychik@nera.com
Timothy McKenna Associate Director New York City +1 212 345 5503 timothy.mckenna@nera.com
Dr. Stephanie Plancich Associate Director New York City +1 212 345 7719 stephanie.plancich@nera.com
Dr. Airat Chanyshev Senior Consultant New York City +1 212 345 7336 airat.chanyshev@nera.com
Dr. Ignacio Franceschelli Senior Consultant New York City +1 212 345 2842 ignacio.franceschelli@nera.com
Dr. Alan Grant Senior Consultant White Plains, NY +1 914 448 4097 alan.grant@nera.com
William P. Hrycay Senior Consultant New York City +1 212 345 1518 william.hrycay@nera.com
Georgi Tsvetkov Senior Consultant Washington, DC +1 202 466 9237 georgi.tsvetkov@nera.com
Ivelina Velikova Senior Consultant New York City +1 212 345 1160 ivelina.velikova@nera.com
Dr. Sorin M. Sorescu Affiliated Academic New York City
Houston
+1 212 345 3185 faten.sabry@nera.com
Dr. Jerry Arnold Affiliated Academic Los Angeles +1 310 570 3982 JArnold@marshall.usc.edu
Mark L. Berenblut Affiliated Consultant Toronto
New York City
London
+1 416 868 7311
+1 917 475 0020
+44 20 7659 8644
mark.berenblut.affiliate@nera.com
Mike King Affiliated Consultant Denver
San Francisco
Washington, DC
+1 303 357 4781
+1 303 618 4915
+1 303 618 4915
mike.king.affiliate@nera.com
Dr. Michael Rosenzweig Affiliated Consultant Washington, DC +1 202 466 9231 michael.rosenzweig.affiliate@nera.com
Title Type Author
Valuing Intellectual Property in Bankruptcy Published Article By Kristopher Boushie
Should Solvency Tests Give the Same Answer? Working Paper By Dr. David Tabak
An Economist's View of Market Evidence in Valuation and Bankruptcy Litigation Working Paper By Dr. Faten Sabry and William Hrycay
Comcast and Economic Analysis of Class Certification Issues Working Paper By Drew Claxton and Dr. Faten Sabry
The Solvency Two-Step Published Article By Dr. David Tabak