Q&A
Who is White and Williams?
White and Williams LLP is a global-reaching, full-service law firm committed to developing and maintaining long-lasting partnerships with our clients. We believe premier-quality legal service is only part of the client relationship. Our lawyers rely on collaboration with one another and each of our clients to understand their unique business objectives, anticipate impact of real-world events on their business, and anticipate and respond to industry regulations. Our goal is to work with our clients to develop creative and practical solutions in support of their goals and objectives. Accessibility, communication, and exceptional personal service are cornerstones of our firm’s philosophy and we provide proactive counsel, successful outcomes, and long-term fulfilling relationships. This year, the firm is celebrating its 125th anniversary; more information can be found at www.ww125years.com
Tell us about the White and Williams Team.
We have a dedicated group of 15 Financial Restructuring and Bankruptcy Attorneys serving clients across the U.S. and Globally. White and Williams has full-service capabilities in New York with, among others, corporate, litigation, and restructuring attorneys who are intimately familiar with local state and federal judges, practice, and procedure and who can act swiftly in emergency situations.
The core strengths of the Financial Restructuring and Bankruptcy Group are providing business and legal guidance along with market insight; service secured lenders and creditors, distressed businesses, trustees, insurers, property receivers, lessors and trade creditors; and acting as local counsel for clients seeking representation in bankruptcy proceedings
We provide financial restructuring, bankruptcy-related services, and asset recovery to secured lenders/creditors, official committees, unsecured trade creditors, distressed businesses, trustees, insurers, property receivers and lessors. Members of the group have received bankruptcy trustee appointments, including under Chapter 11 and Subchapter V.
Many of our attorneys in the practice are recognized by Chambers USA, Best Lawyers® , Super Lawyers and Lawdragon.
Our co-chairs are industry veterans Heidi Sorvino, and Amy Vulpio, Partner, who have over 50 years of combined experience in with Financial Restructuring and Bankruptcy.
Co-Chairs of the White and Williams
Financial Restructuring and Bankruptcy Practice
Heidi Sorvino
Partner | New York
Tel. 212.631.4417
sorvinoh@whiteandwiliams.com
Heidi Sorvino is nationally recognized by her clients and peers as a leading lawyer in the practice of financial restructuring and bankruptcy. She is firm’s New York office and supervising partner of the Financial Restructuring and Bankruptcy Group where she has demonstrated a strong command of business finance and bankruptcy law through decades of experience counseling clients dealing with distressed debt. She concentrates on corporate restructurings, complex bankruptcy and insolvency proceedings. managing partner of the
Heidi represents creditors and debtors through all phases of bankruptcy proceedings both inside and outside of the courtroom. She is appointed to serve as a Subchapter V and Chapter 11 trustee, managing the affairs of a debtor’s business through its financial restructuring and resulting bankruptcy proceedings.
She is frequently called upon by international news agencies to discuss cutting edge issues in corporate turnarounds and restructurings. She has appeared as a guest on Reuters Television, Bloomberg TV, and Fox Business News. She has also been quoted in the Wall Street Journal, Crain’s New York Business, and Dow Jones Newswire.
Heidi brings an honest toughness to matters and is well respected by her peers. Her strength and candor are recognized with high ratings in Martindale-Hubbell, The Best Lawyers in America®, and “Super Lawyers.” She has been named as one of the 2023 Leading Bankruptcy and Financial Restructuring Lawyers in the United States by Lawdragon. Beyond her client work, Heidi takes an active role in mentoring junior lawyers and members of the professional community.
Amy Vulpio
Partner | Philadelphia
Tel. 215.864.6250
vulpioa@whiteandwiliams.com
Amy Vulpio is a Partner and Chair of the Financial Restructuring and Bankruptcy Practice. She focuses her practice on creditor and debtor representation, bankruptcy appellate work and bankruptcy-related commercial litigation. Her experience representing both creditors and debtors gives her the breadth of perspective needed to advise her clients as to the priorities and motivations of the party across the table. Using this understanding, Amy works closely with her clients to formulate creative legal strategies and helps her clients achieve their goals through negotiation or litigation.
Amy represents creditors in diverse industries who require assistance in confessing judgment, obtaining relief from the automatic stay, filing and litigating proofs of claim, responding to various motions and adversary complaints, including preference and fraudulent conveyance actions, and otherwise asserting their rights in Bankruptcy Court. Amy’s clients include financial institutions and other secured lenders, insurance companies, lessors, trade creditors and other businesses and individuals whose interests are implicated in bankruptcy proceedings.
Amy was selected for inclusion in The Best Lawyers in America® since 2021 in the practice areas of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation – Bankruptcy. Amy has been recognized by Chambers USA in 2021 and 2022 as an “Up and Coming Lawyer” in the area of bankruptcy and restructuring in Philadelphia, with clients describing her as “a terrific attorney” and “very bright” and commenting that “she is very responsive” and “a great lawyer.” She has recently been recognized as a top attorney in Bankruptcy/Restructuring by the Chambers USA Guide 2023 and is also named a Pennsylvania “Super Lawyer” by Super Lawyers for 2023.
Who are the other members of the firm that contribute to White and Williams’ success?
Our team also includes a deep bench of attorneys including Christopher Graham, Partner; James Vandermark, Partner; Travis Powers, Counsel; Andrew Arthur, Associate and Michael Ingrassia, Associate.
James Vandermark
Partner | New York
Tel. 646.837.5791
vandermarkj@whiteandwiliams.com
James Vandermark provides strategic guidance and cutting-edge solutions to clients facing financial challenges. He advises on the full spectrum of restructuring solutions, including complex business transactions, contract negotiations, financial restructurings, out-of-court workouts, commercial foreclosures and Chapter 11 reorganizations.
For each matter, James develops a strategy based on a clear understanding of his client’s needs. His goals are to preserve the business or business relationship, to minimize disruption, and to move quickly toward a workable solution. This often includes working closely with equity holders, investors, lenders, landlords, management, labor and other interested parties in varied industries such as health and fitness, tech, digital advertising, retail and real estate.
James writes and speaks frequently about tax and financial issues as well as bankruptcy matters. This recently included moderating panel discussions for Pennsylvania Bar Institute’s Bankruptcy in a Pandemic: What You Need to Know. He also serves on the firm’s Diversity Committee and is an active member of the LGBTQ Bar Associations of Greater New York and Philadelphia. He is a past president of the Philadelphia LGBTQ Bar Association.
Christopher Graham
Partner | New York
Tel. 212.714.3066
grahamc@whiteandwilliams.com
Christopher Graham has nearly 40 years of experience representing clients in bankruptcy and insolvency matters. He focuses on the representation of secured creditors in Chapter 11 matters and also provides counsel to creditors and shareholders, purchasers in bankruptcy 363 sales, outside board of director members of Chapter 11 debtors-in-possession, mezzanine lenders, trustees, receivers, state regulatory agencies, foreign liquidators in international cases, and debtors-in-possession. Chris is recognized for his particular experience in Chapter 11 cramdown plans and defenses and Chapter 9 municipal bankruptcies.
Christopher is an AV® Preeminent rated by the Martindale-Hubbell peer review rating system. He was selected to New York Magazine’s Leading Lawyers for 2018 and included in New York Super Lawyers from 2006 to 2020. He is a two-time member of the Board of Directors of the American Bankruptcy Institute. In 2012, he received a Lifetime Achievement Award from the American Bankruptcy Institute. Christopher has served as an adjunct professor in bankruptcy law at St. John’s University School of Law in New York since 1999.
Travis Powers
Counsel | New York
Tel. 212.868.4837
powerst@whiteandwilliams.com
Travis Powers, a Counsel in the Financial Restructuring and Bankruptcy Practice, advises clients in all aspects of complex commercial insolvency and restructuring under chapters 7 and 11, and subchapter 5, of the United States Bankruptcy Code, as well as in out-of-court debt workouts and Assignments for the Benefit of Creditors. Through the representation of several multi-national corporations and financial institutions, Travis has been involved in several of the nation’s largest bankruptcy cases.
Travis is an experienced commercial litigator, having represented some of the country’s largest special servicers in large-area commercial real property foreclosure actions in both state and federal courts throughout the country, including highly contested foreclosures of over one million square feet of commercial real estate in Central and Western New York.
He is a Travis has been recognized as a Best Lawyers: Ones to Watch® in America since 2022 for Commercial Litigation and in 2024 for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. He is also a 2018 M&A Advisor Turnaround Award Winner: Healthcare/Life Sciences Deal of the Year. Travis was also selected as a 2017 National Association of Bankruptcy Judges Next Generation participant.
Andrew Arthur
Associate | New York
Tel. 646.837.5790
arthura@whiteandwilliams.com
Andrew Arthur concentrates his practice on a variety of bankruptcy, restructuring, and commercial litigation matters including the representation of debtors, creditors and other parties-in-interest.
Prior to joining White and Williams, Andrew practiced at a well-respected New Jersey law firm where he represented commercial debtors and creditors in Chapter 7 and 11 proceedings and local governments and agencies with respect to real estate redevelopment projects and litigation.
Andrew served as a law clerk in both state and federal courts for the Honorable Douglas H. Hurd, P.J.Cv. in the Superior Court of New Jersey, Mercer Vicinage, Civil Division; the Honorable Paul Innes, P.J.Ch. in the Superior Court of New Jersey, Mercer Vicinage, General Equity Division; and the Honorable Rosemary Gambardella in the United States Bankruptcy Court for the District of New Jersey.
Andrew serves as a Vice Chair on the Minority in the Profession Section of the New Jersey Bar Association where he promotes diversity and inclusion in the law and frequently volunteers to mentor students. While in law school, Andrew was a Managing Editor for the Rutgers Race and the Law Review.
Michael Ingrassia
Associate | Wilmington
Tel. 302.467.4503
ingrassiam@whiteandwiliams.com
Michael Ingrassia concentrates his practice on a variety of bankruptcy, restructuring, and commercial litigation matters including the representation of debtors, creditors and other parties-in-interest.
Prior to joining White and Williams, Michael practiced at a well-respected Delaware law firm where he represented commercial debtors and creditors in Chapter 7 and 11 proceedings.
Michael served as a judicial intern in federal court for the Honorable William I. Arbuckle in the United States District Court for the Middle District of Pennsylvania.
What are some of the firms’ recent wins or notable representations?
The White and Williams Financial Restructuring and Bankruptcy Team has been engaged in the following Representative Matters:
•Appointed Chapter 11 Trustee by the Bankruptcy Court for the Southern District of New York, successfully closing a Chapter 11 bankruptcy sale and removal of a shareholder of a defaulted borrower from a New York City property.
•Represented the Committee of Unsecured Creditors, Phoenix Payment Systems, Inc., U.S. Bankruptcy Court, District of Delaware, 2014.
•Represented senior mezzanine lender group in stopping the foreclosure of the senior mortgage and the subsequent sale of the group’s $300 million debt position in the capital structure that financed the $5.4 billion acquisition by Tishman Speyer and Blackrock Realty of Stuyvesant Town – Peter Cooper Village, an 80-acre apartment complex located in the Lower East side of Manhattan.
•Represented a large commercial lender in liquidating its defaulted multi-family real estate portfolio through foreclosure, note sales and deed-in-lieu transactions.
•Represented Chapter 11 debtor which sold substantially all its assets to its secured creditor who is also an owner of the debtor with a small carve-out provision for unsecured creditors and administrative expenses.
White and Williams
Financial Restructuring and Bankruptcy
Additional information
Our Financial Restructuring and Bankruptcy Group helps financial institutions, unsecured creditors, businesses and investors navigate the challenges and opportunities that arise out of the ebbs and flows of the credit and real estate markets. Our experience with a variety of complex, high-stress workout situations allows us to provide timely legal and business guidance, as well as market insight, to clients seeking to restructure, foreclose, liquidate, sell, buy or workout distressed loans and the underlying collateral. Our lawyers have the unique experience of representing both debtors and creditors, providing us with deep understanding of the priorities and motivations of opposing parties and the industry at large. We rely on these collective skills to deliver practical and creative solutions.
We provide financial restructuring, bankruptcy-related services, and asset recovery to secured lenders/creditors, official committees, unsecured trade creditors, distressed businesses, trustees, insurers, property receivers and lessors. Members of the group have received bankruptcy trustee appointments, including under Chapter 11 and Subchapter V.
Our group has extensive experience in all aspects of:
- Bankruptcy-Related Proceedings and Litigation
- Liquidations
- Loan Enforcement Actions
- Credit Workouts/Restructurings
- Receivership Proceedings
- The Sale and Purchase of Distressed Loans or Businesses
- Borrower Liquidations
Representative Matters:
- Appointed Chapter 11 Trustee by the Bankruptcy Court for the Southern District of New York, successfully closing a Chapter 11 bankruptcy sale and removal of a shareholder of a defaulted borrower from a New York City property.
- Represented the Committee of Unsecured Creditors, Phoenix Payment Systems, Inc., U.S. Bankruptcy Court, District of Delaware, 2014.
- Represented senior mezzanine lender group in stopping the foreclosure of the senior mortgage and the subsequent sale of the group’s $300 million debt position in the capital structure that financed the $5.4 billion acquisition by Tishman Speyer and Blackrock Realty of Stuyvesant Town – Peter Cooper Village, an 80-acre apartment complex located in the Lower East side of Manhattan.
- Represented a large commercial lender in liquidating its defaulted multi-family real estate portfolio through foreclosure, note sales and deed-in-lieu transactions.
- Represented Chapter 11 debtor which sold substantially all its assets to its secured creditor who is also an owner of the debtor with a small carve-out provision for unsecured creditors and administrative expenses.
Core strengths of our Financial Restructuring and Bankruptcy Practice:
•Provide business and legal guidance along with market insight
•Service secured lenders and creditors, distressed businesses, trustees, insurers, property receivers, lessors and trade creditors
•Act as local counsel for clients seeking representation in bankruptcy proceedings
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