Richard A. Barkasy

Richard A. Barkasy

PARTNER
WILMINGTON
T: 302.357.3273
F: 302.357.3262

A seasoned trial attorney, Mr. Barkasy devotes a substantial portion of his practice to bankruptcy cases and handles a variety of complex commercial litigation matters.

Mr. Barkasy is an adjunct professor of Delaware Corporate Litigation, Bankruptcy, Products Liability, Secured Transactions, Business Organizations and Construction Law at Rutgers University School of Law-Camden.
 

Recognitions

  • The Best Lawyers in America®, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (2015-2023); Litigation – Bankruptcy (2021-2023)
  • Pennsylvania Super Lawyers®, Bankruptcy and Creditor/Debtor Rights (2013-2022)
 

Memberships & Activities

  • Eastern District of Pennsylvania Bankruptcy Conference
  • American Bankruptcy Institute
  • Registry of Mediators for the United States Bankruptcy Court for the District of New Jersey
  • Chairman, Todd Baldino Memorial Scholarship Committee

Bankruptcy and Creditors’ Rights

Mr. Barkasy represents financial institutions, corporations, colleges and universities, debtors and official and unofficial committees in Chapter 11 bankruptcy and reorganization cases. He also handles bankruptcy litigation and commercial loan foreclosures. Mr. Barkasy’s experience includes:
  • Delaware counsel for senior secured lender in Fisker Automotive bankruptcy.
  • Represented Ad Hoc committee of salaried retirees in the Hawker Beechcraft bankruptcy. Created fund to provide compensation for participants of terminated pension plan for salaried retirees.
  • Obtained recognition of an Indonesian insolvency proceeding as counsel for an Indonesian shipping company as debtor in a Chapter 15 bankruptcy in New York.
  • Representation of the Ad Hoc Committees of Consumer Victims, holders of over $1.25 billion of product liability personal injury claimants in the Chrysler and General Motors bankruptcies.
  • Represented TD Bank with regard to $20 million construction loan in the bankruptcy of Delaware real estate developer. Prevented imposition of priming lien and obtained stay relief.
  • Counsel to AK Steel Corporation in the New Jersey bankruptcy of a steel distributor. Discovery of fraudulent conveyance and breach of fiduciary duty claims resulted in substantial recovery for unsecured creditors and an award of attorneys’ fees for making substantial contribution to case.
  • Counsel to Chapter 11 Trustee of public healthcare company in Delaware. Obtained confirmation of reorganization plan pursuant to which more than $50 million was distributed to public shareholders. Prosecuted breach of fiduciary duty claims against former Chairman and CEO.
  • Represented a commercial bank with hotel mortgage in overturning a confirmation order on appeal in New Jersey bankruptcy.
  • Represented a warehouse lender in a bankruptcy of a Long Island mortgage broker accused of double-hypothecation of collateral.
  • Delaware co-counsel to the official retiree committees in the Intermet and Hayes-Lemmerz bankruptcies in Delaware.
  • Represented a Pittsburgh-area construction company, Philadelphia paint manufacturer and South Jersey fast food franchisee as debtors in obtaining plan confirmation in Chapter 11 cases.
  • Counsel to the University of Pennsylvania in the Enron bankruptcy.
  • Representation of an equitable lien claimant in Mike Tyson’s bankruptcy.
  • Counsel to NCR with respect to $21 million claim in New Jersey bankruptcy of armored car company.
  • Represented an unsecured creditors’ committee in a New Jersey bankruptcy of an oil and lube franchisor.
 

Litigation

Mr. Barkasy has a wealth of commercial litigation experience, including the following:
  • Complex Commercial Cases – Represents clients in a wide variety of complex litigation matters in both federal and state courts, such as breach of fiduciary duty, directors and officers litigation, lender liability, fraudulent conveyance, trademark, antitrust and environmental cost recovery actions. His experience includes corporate litigation in the Delaware Chancery Court.
  • Employment – Represents corporations and senior executives in employment discrimination actions, breach of contract cases and restrictive covenant disputes.
  • Products Liability – Defense of claims involving diverse products such as helicopter engines, electrical equipment, MRI equipment, power tools and air bag components, as well as asbestos and benzene exposure actions.
  • Construction Industry – Counsel to owners, general contractors, construction managers and subcontractors in litigation concerning both public and private contracts.
INSIGHTS

Presenter: “Cross-border Insolvency and Restructuring Under the Model Law on Cross-Border Insolvency (MLCBI), U.S. Chapter 15, and Other Frameworks,” TAG Alliances International Conference, Chicago, Illinois (Spring 2023)

Co-Author: “Will Merger-Challenge Suits Shift to New York After Gordon v. Verizon?,” Westlaw Journal Delaware Corporate (May 2017)

Co-Author: “Will other courts give ‘disclosure only’ settlements closer scrutiny like Delaware?,” Westlaw Journal Delaware Corporate (January 2017)

NEWS