Profile
Larry Gottesman is a retired partner of ABV. He was formerly in charge of the firm’s Restructuring and Bankruptcy Litigation Practice. He has regularly represented debt opportunity funds, special servicers of securitized commercial mortgages and secured and unsecured lenders. He has also represented officers of distressed entities, as well as parties to a wide range of bankruptcy and insolvency related litigation. Larry has extensive experience in a wide variety of chapter 11 bankruptcy cases and out-of-court workouts and restructurings, including those involving hotels and other hospitality assets, shopping centers and malls, office buildings, professional partnerships and retailers, as well as single asset real estate and real estate investment trusts. He also has broad bankruptcy litigation experience, including litigation of issues relating to fraudulent transfers, preferential transfers, use of cash collateral, automatic stay relief, plan exclusivity and chapter 11 plan confirmation. Although Larry is retired from active practice, he remains available to the firm to consult on commercial bankruptcy and restructuring matters.
- Brooklyn Law School, J.D., summa cum laude
- Connecticut College, B.A.
- New York
- Second Circuit
- Southern District of New York
- Eastern District of New York
- Law Clerk to Hon. Edward R. Korman, United States District Judge, E.D.N.Y.
- Member, Brooklyn Law School Zaretsky Roundtable Steering Committee
Representative Matters
Bankruptcy Chapter 11 Matters
- Represent debt opportunity fund in connection with chapter 11 cases of multi-family and retail projects, including appointment of chapter 11 trustee.
- Represent debt opportunity fund in connection with chapter 11 case of failed multi-family project and related chapter 11 sale.
- Represent secured lender in connection with chapter 11 case of failed development project.
- Represent special servicer of approximately $200 million in debt secured by eight hotels in connection with chapter 11 cases of hotel owners.
- Representation of special servicers in connection with chapter 11 cases of General Growth Properties, Inc. (largest real estate chapter 11 reorganization cases).
- Representation of special servicer and certificate holder in connection with chapter 11 cases of Innkeepers USA Trust.
- Representation of special servicers in connection with chapter 11 cases of Lodgian, Inc.
- Representation of secured lender in connection with chapter 11 case of tenant in common sponsor.
- Representation of a secured lender owed in excess of $40 million in connection with the chapter 11 case of a prominent New York City hotel.
- Represent professional partnership in chapter 11 case.
- Represent newspaper in chapter 11 case.
- Represent retailer in chapter 11 case.
- Represent special servicer in connection with chapter 11 case of residential cooperative housing corporation.
Bankruptcy Litigation
- Defend AmLaw 100 law firm in connection with fraudulent transfer litigation.
- Defend securitization trust and master servicer in connection with alleged fraudulent transfer and preference litigation.
- Defend multiple lawsuits seeking avoidance and recovery of alleged fraudulent transfers and preferential transfers.
Out-of-Court Workouts and Restructurings
- Represent special servicer in connection with $730 million loan secured by luxury hotels.
- Representation of special servicer in connection with workout of large “tenant-in-common” loan.
- Represent special servicer in connection with workout of hotel and event space facility.
- Represent special servicer in connection with workout of multiple related multi-family projects.
- Represent special servicer of senior loan and mezzanine loan in connection with workout of failed development project.
- Represent secured lender in connection with distressed multi-family project.
- Represent assisted living facility in connection with workout.
- Represent board of directors in connection with distressed health care provider and assisted living facility.
Publications
Securitized Loans in Bankruptcy, Mortgage and Asset Backed Securities Litigation Handbook, West® Legalworks, 2009 (section co-author)
Business Reorganizations, Lexis-Nexis, 2nd ed. 2000, (casebook; co-author) (3rd ed.)
Unique Settlement Ruling in Smart World Case, The Bankruptcy Strategist, August 2004, (co-author)
Reorganization Plans: A Formula for Setting Cram Down Interest Rates, N.Y.L.J., July 21, 2004, (co-author)
Bankruptcy Implications of Troubled Dot-Coms, N.Y.L.J., May 18, 2000
