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Frank A. Oswald - New York, NY

One Penn PlazaSuite 3335 New York, NY 10119

Super Lawyers®

1

Updated: 01/24/2024

New York Corporate Reorganization Law Lawyer

Overview

For more than 30 years, Mr. Oswald has focused his practice exclusively on bankruptcy, out-of-court restructurings and creditors' rights matters. Mr. Oswald has represented clients in all facets of bankruptcy cases as well as insolvency issues in business transactions.

Mr. Oswald is a partner at Togut, Segal & Segal LLP, which he joined in 1986 following internships with the late Hon. Conrad B. Duberstein, Chief Bankruptcy Judge, and the Hon. Cecilia Goetz, Bankruptcy Judge (retired) in the Bankruptcy Court for the Eastern District of New York. Since then, Mr. Oswald has represented chapter 11 debtors, bankruptcy trustees, creditors' committees, secured and unsecured creditors, shareholders, distressed investors, defendants in avoidance actions, mediators, plan administrators, as well as landlords and tenants in bankruptcy cases, and entities seeking to acquire assets out of bankruptcy.

Mr. Oswald has been named a New York Super Lawyer every year since 2010. He is also a member of the EDNY's Bankruptcy Judges' Chapter 11 Lawyers Advisory Committee, Board of the Turnaround Management Association (NY Chapter), a member of the ABI's Committee on Healthcare Law, and a recognized lawyer in Chambers USA and Best Lawyers in America.

About Frank A. Oswald

Current Employment Position(s)

  • Partner

Practice Areas

  • Corporate Reorganization Law
  • Bankruptcy Law
  • Creditors' and Debtors' Rights Law
  • Insolvency Law

Representative Clients

  • Rubie’s Costume Company, co-counsel to the Debtors, the largest costume manufacturer and distributor in the world, with annual sales of approximately $300 million, in their chapter 11 restructuring.
  • McClatchy: Co-counsel to the Debtors, a163-year-old family-controlled public company that provides independent local journalism to 30 communities in 14 states through its local newspapers, including well-respected publications such as the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The(Raleigh) News & Observer, and the (Fort Worth) Star-Telegram, as well as national news coverage through its Washington, D.C. bureau, in restructuring approximately $1.6 billion in debt.
  • Trident Holding Company, LLC, co-counsel to the debtors, the leading national provider of bedside diagnostic and related services in the United States operating in 35 states, in the restructuring of approximately $700 million in liabilities.
  • Pacific Drilling: counsel to the Debtors, which specialize in ultra-deep water drilling for a myriad of the largest oil and gas companies in the world, in the restructuring of more than $3 billion in liabilities
  • Toisa Limited: lead counsel to the debtors, 24 international shipping companies involving 46 vessels and the restructuring of more than $1 billion in liabilities
  • SunEdison, Inc.: co-counsel to the debtors, one of the world's leading developers of renewable-energy solutions, involving the restructuring of more than $16 billion in liabilities.
  • Relativity Fashion, LLC: Counsel to the Official Committee of Unsecured Creditors of 143 debtors engaged in motion picture and television production and distribution, resulting in the restructuring of liabilities exceeding $750 million
  • Federation Employment and Guidance Service, Inc, d/b/a FEGS (co-counsel to the Debtor, a not for profit health and human services organization providing a broad range of services to more than 120,000 individuals annually, with assets and liabilities exceeding $100million)
  • Sound Shore Medical Center of Westchester et al (counsel to the Purchaser in a section 363 sale of substantially all of the debtors' assets for approximately $60 million. The debtors operate two hospitals and a nursing home).
  • Personal Communications Devices (co-counsel to the Debtors, a distributor of specialty mobile devices and accessories which also provides value added services to manufactures and wireless telecom carriers with sales exceeding $1 billion).
  • Grubb & Ellis Company (lead counsel to the Debtors, an international real estate brokerage and property management company, with more than 100 offices and revenue exceeding $500 million which was sold as a going concern in a transaction approved by the Bankruptcy Court in less than 45 days following the commencement of the Chapter 11 case)
  • Eastman Kodak (co-counsel to the Official Committee of Unsecured Creditors appointed in the Kodak Chapter 11 cases which involves the restructuring of more than $1billion in liabilities)
  • Betsey Johnson LLC (co-counsel to the Debtor, a leading designer, marketer, retailer and wholesaler of premier women's contemporary apparel and accessories in its Chapter 11 case involving the orderly liquidation of 63 retail and outlet stores)
  • Loehmann's Department Stores (lead counsel to the Debtors, a leading national specialty retailer of designer and brand-name apparel, concerning the restructuring of $190 million in liabilities pursuant to a Chapter 11 plan confirmed by the Bankruptcy Court within 12 weeks of case commencement)
  • General Motors (conflicts counsel to the Debtors concerning the largest OME in the United States involving the restructuring of more than $80 billion in liabilities)
  • Chrysler, LLC (conflicts counsel to the Debtors in the first Chapter 11 case ever filed by an OME concerning the restructuring of a more than $55 billion in liabilities)
  • Charter Communications (counsel to one of the affiliated debtors which together is one of the largest cable/broadband communication companies in the United States, involving the successful restructuring over $22 billion in liabilities)
  • Enron Corp. (co-counsel to the Debtors in one of the largest bankruptcy cases ever filed wherein, among other things, the firm prosecuted more than 1,000 adversary proceedings and recovered in excess of $500 million for the estate)
  • Our Lady of Mercy Hospital (lead counsel for the Debtor involving more than $100 million in liabilities, successfully consummated the Chapter 11 sale of substantially all of the hospital's assets as a going concern)
  • Saint Vincents Hospitals (conflicts counsel to the Debtor hospitals involving the restructuring over $1 billion in liabilities)
  • Cabrini Medical Center (lead counsel to the Debtor, which having ceased operations, commenced a Chapter 11 case to maximize asset value through a Section 363 sale process)
  • Finlay Jewelry (conflicts counsel to the Debtors, a national chain of retail jewelry stores involving over $385 million in liabilities)
  • Tower Automotive (conflicts counsel to one of the largest automotive parts supplier's in the country to tier-one manufacturers)
  • MSR Resort Golf Course LLC (conflicts counsel to the Official Committee of Unsecured Creditors)
  • Ellen Tracy LLC (counsel to the Chapter 7 Trustee in litigation against the debtors lenders and directors & officers for, among other things, the recovery of avoidable transfers and breach of fiduciary duties resulting in settlements valued at approximately $20 million for the estate).
  • Corporate Resource Services, Inc.: Counsel to Chapter 11 trustee in cases involving $100 million tax fraud by professional employer organization
  • City of Detroit: Counsel to Chapter 9 municipality, responsible for investigation and prosecution of preferential transfer claims
  • Aeropostle, Inc.: co-counsel to the Debtors, a teen clothing retail chain of more than 800 stores involving the restructuring of approximately $260 million in liabilities

Representative Cases

Qualifications

Bar Admissions

  • New York, 1986
  • New Jersey, 1986
  • U.S. District Court Southern District of New York, 1987
  • U.S. District Court Eastern District of New York, 1987
  • U.S. District Court District of New Jersey, 1987
  • U.S. Court of Appeals 2nd Circuit, 2005
  • Supreme Court of the United States of America, 2009

Other Affiliations

  • U.S. Bankruptcy Court EDNY Chapter 11 Lawyers Advisory Committee
  • Bankruptcy Lawyers Bar Association (Member)
  • American Bankruptcy Institute and Health Care Subcommittee (Member)
  • Turnaround Management Association (Member)
  • New York City Bar Association (Bankruptcy Committee Member)
  • AIRA - Association of Insolvency and Restructuring Advisors
  • Turnaround Management Association New York Chapter (Executive Board Member, General Counsel/Governance Committee)
  • Practical Law Bankruptcy Advisory Service, 2016 - Present (Board Member)
  • New York State Bar Association (Member)
  • American Bar Association (Member)

Classes and Seminars

  • Business Bankruptcy 101 for Small/Mid-Size Firm and Solo Practitioners, New York City Bar webinar, March 2021
  • ABI New York Conference, Health Care and Education Panel, May 2017
  • Wharton Restructuring and Distressed Investing Conference, Strategies to Exit Administratively Insolvent Chapter 11 Cases, February 2017
  • Alternatives to Chapter 11, ABI New York Conference, - 2015
  • Health Care on the Front Lines, ABI 29th Annual Spring Meeting, Washington, D.C., April 2011
  • Is Bankruptcy the Right Prescription for Distressed Health Care Providers, NYC Bar Association, New York, NY, March 2011
  • Use of Valuations in Fraudulent Conveyance Cases, AIRA's 10th Annual Advanced Restructuring and Plan of Reorganization Conference, 2011
  • Health Care Triage 2009, ABI Health Care Conference, Loyola University Chicago, June 2009

Pro Bono Activities

  • Elizabeth Seton Pediatric Center, Board Member, 2009 - Present
  • Jewish Community Center of Staten Island, Board Member, 2016

Past Positions

  • Hon. Cecelia H. Goetz, U.S. Bankruptcy Judge, Eastern District of New York, Student Law Clerk, 1984
  • Hon. Conrad B. Duberstein, Chief U.S. Bankruptcy Judge, Eastern District of New York, Student Law Clerk, 1984 - 1985

Education

  • New York Law School, New York, New York, 1986
    J.D.
    Law Journal: New York Law School Journal of International and Comparative Law, Notes and Comments Editor, 1985 - 1986
  • Baruch College, City University of New York, New York, New York, 1983
    B.B.A.
    Honors: cum laude
    Major: Management

Articles

Published Works

  • Short Case Analysis: Gardens Regional Hospital and Medical Center Liquidating Trust v. State of California (In re Gardens Regional Hospital and Medical Center, Inc.), Case No. 18-60016 (9th Cir. Sept. 16, 2020)," Frank A. Oswald and Minta J. Nester, ABI Healthcare Newsletter, March 2021
  • Frank A. Oswald, Bryan M. Kotliar, John C. Gallego, “Limitations on Business Judgment? The Intersections of §§ 363(b), 365 and 503(b) for Paying Creditors’ Professional Fees,” ABI Journal, March 2021
  • Frank A. Oswald, Kyle J. Ortiz & Katherine A. Crispi, "M&As in Bankruptcy and Reorganization: The Implications on M&A, in Mergers & Acquisitions: A Practitioner’s Guide to Successful Deals" at 471-93 (Harvey A. Poniachek ed.)., 2019
  • "The Common Interest Doctrine: Preserving Privilege Post-Petition," Frank A. Oswald and Lauren L. Peacock, ABI Journal Vol. XXXIV, No. 6, 36, June 2015
  • "Liquidating Fiduciary Exception to WARN Act," Frank A. Oswald and Lara R. Sheikh, with Practical Law Company Labor & Employment, May, 2015
  • "When 'Free and Clear' Does Not Mean 'Free and Clear' – Bankruptcy Sales Involving Collective Bargaining Agreement Successor Clauses", Norton Bankruptcy Law Adviser, May, 2014
  • "Transfers of Medicare Provider Numbers in Bankruptcy", ABI Journal, May, 2009
  • "Missing the Forest for the Trees and Neglected the Big Picture in §363", Norton Bankruptcy Law Advisor, April, 2009
  • Oswald, F. A., Wu, E. D., & Blander, E. E. "Chapter 11 Case Study: Pacific Drilling, SA.” in Cases in Financial Management: Applications for Financial Analysis, 2024 (pp. 525-554).

Office Information

Address

One Penn PlazaSuite 3335 New York, NY 10119

Achievements

Other Sources of Feedback About Frank A. Oswald

Included on the 2024 New York Metro Super Lawyers list


Past Lists

  • 2023 New York Metro Super Lawyers list
  • 2022 New York Metro Super Lawyers list
  • 2021 New York Metro Super Lawyers list
  • 2020 New York Metro Super Lawyers list
  • 2019 New York Metro Super Lawyers list
  • 2018 New York Metro Super Lawyers list
  • 2017 New York Metro Super Lawyers list
  • 2016 New York Metro Super Lawyers list
  • 2015 New York Metro Super Lawyers list
  • 2014 New York Metro Super Lawyers list
  • 2013 New York Metro Super Lawyers list
  • 2012 New York — Metro Super Lawyers list
  • 2011 New York Metro Super Lawyers list
  • 2010 New York Metro Super Lawyers list

View the profile for Frank A. Oswald on Super Lawyers

Honors

  • Named a Super Lawyer every year since 2010
  • Ranked lawyer in Chambers USA
  • Recognized in Best Lawyers in America for New York City
  • AV Preeminent Rating - Martindale-Hubbell Pier Review, 1996 - Present

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