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Michael R. Caruso
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Michael R. Caruso

Shareholder

Newark, NJ
New York, NY
 
 
  • Bankruptcy
    • Represented several national surety companies in the Chapter 11 reorganizations and liquidations of Westinghouse Electric Company, Nine West Holdings, and The Great Atlantic & Pacific Tea Company, among others.
    • Represented a Fortune 100 company in several Chapter 11 hospital and healthcare reorganizations and liquidations throughout the United States, including Verity Health System of California, Trident Holding Company, and Family Pharmacy, Inc., among others.
    • Successfully defended against a $11.5 million preference avoidance and recovery action based exclusively on the industry standard ordinary course of business defense.
    • Represented a Chapter 11 trustee in the $13.7 million sale of a beachfront 354-unit apartment complex in Atlantic City, New Jersey, obtaining payment in full to holders of allowed secured, administrative, and priority unsecured claims.
    • Lead counsel to minority shareholders in winning a non-dischargeable summary judgment for fraud and embezzlement against the majority shareholder and Chapter 7 debtor.
    • Represented a New York City hospital and its affiliates as Chapter 11 debtors-in-possession in the United States Bankruptcy Court for the Southern District of New York
  • Equipment Leasing & Finance
    • Lead counsel to a national bank, as equipment lessor and seller, in successfully closing a $7 million sale of asphalt manufacturing equipment and $3.2 million sale of maritime barges during the lessee’s Chapter 11 bankruptcy.
    • Represented a national bank in the Chapter 11 liquidation of New England Motor Freight, Inc., one of the largest truckload freight carriers in the U.S. Northeast at the time.
    • Represented a national bank as proponent of a confirmed Chapter 11 plan of liquidation resulting in a $6 million sale of undeveloped land and payment of the bank’s secured debt in full, including interest and attorneys’ fees.
  • Receiverships
    • Lead counsel to a custodial receiver for an architectural design and construction firm involved in shareholder dispute litigation in the Superior Court of New Jersey, the Southern District of New York, and the District of Nevada
    • Lead counsel to a receiver for a real estate holding company involved in shareholder dispute litigation in the District of New Jersey and Middle District of Florida.