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Introduction
Christopher Desiderio represents debtors, creditors and official committees in all aspects of Chapter 7 and 11 cases. Representative clients include distressed companies, partnerships, banks, landlords, committees, and trustees in national and regional corporate bankruptcies.
My focus
Debtors
I frequently represent debtors in highly contested restructurings. I’ve represented debtors in various out-of-court and in-court restructurings in various industries including retail, consumer products, healthcare, telecommunications, hospitality, franchising, education, and energy. Each case presents its own challenges including addressing employee and public relations, negotiations and litigation with secured lenders, valuations, and operational and organizational issues. I regularly advise for-profit and not-for-profit healthcare providers (such as hospitals, skilled nursing, long-term care, physician practices) on in-court and out-of-court restructurings. I work hand-in-hand with management in order to obtain the best results in the most effective and efficient manner possible.
Creditors and Other Parties in Interest
My practice includes the representation of secured and unsecured creditors, including landlords, trade creditors, employees and financial institutions including in their roles as trustees, agents, and issuers. In addition, I represent other parties in interest including defendants in fraudulent conveyance and preference litigation as well as parties interested in buying or selling distressed assets in Section 363 and Article 9 sales.
Committees
I frequently represent Official Committees of Unsecured Creditors. I take great care to ensure that each committee I represent fulfills its fiduciary obligations, whether through careful negotiation or litigation, with the goal of maximizing recoveries for all unsecured creditors.
Bankruptcy Appellate Practice
I have successfully represented clients in various bankruptcy appellate matters before District Courts, Bankruptcy Appellate Panels, and the United States Court of Appeals.
Representative experience
Counsel to Debtors
- Access Medical Group (Bankr. S.D.N.Y.)
- Boston Restaurant Associates, Inc. (Bankr. D.Del.)
- Cedenco Australia Pty Ltd. (Chapter 15) (Bankr. S.D.N.Y.)
- Ezenia! Inc. (Bankr. D.N.H.)
- FairPoint Communications, Inc. (Bankr. S.D.N.Y.)
- Laurence, Scott & Electromotors Ltd. (Chapter 15) (Bankr. S.D.N.Y.)
- LRGHealthcare (Banrk. D. N.H.)
- Lynx Associates, L.P. (Bankr. D.N.J.)
- Premier Parks (Six Flags) (Bankr. D. Del.)
- Sababa Group, Inc. (Bankr. S.D.N.Y.)
- St. Francis’ Hospital, Poughkeepsie, New York (Bankr. S.D.N.Y.)
- Tempnology LLC n/k/a Old Cold LLC (Bankr. D.N.H.)
- U.S. Coal Corp. (Bankr. W.D.Ky.)
- Confidential For-Profit Educational Institution
- Wachusett Ventures, LLC (Bankr. D. Mass.)
Counsel to the Official Committee of Unsecured Creditors
- Cosi, Inc. (Bankr. D.Ma.)
- R. Esmerian, Inc. (Bankr. S.D.N.Y.)
- Visiting Nurse Association of Long Island (Bankr. E.D.N.Y.)
Counsel to Indenture Trustees, Collateral Agents,Lenders, and Trade Creditors in Bankruptcy Cases
- Calpine Corp. (Bankr. S.D.N.Y.)
- Eddie Bauer Holdings, Inc. (Bankr. D. Del.)
- Energy Future Holdings (Bankr. D.Del.)
- Flour City Bagels, LLC (Bankr. W.D.N.Y.)
- Lehman Brothers Holdings, Inc. (Bankr. S.D.N.Y)
- Midstates Petroleum Company, Inc. (Bankr. W.D.Tx.)
- Payless Holdings, LLC (Bankr. E.D. Mo.)
- Westinghouse Electric Company LLC (Bankr. S.D.N.Y.)
Counsel to Purchasers
- Marc Fisher Footwear in the acquisition of certain assets in Nine West Holdings (Bankr. S.D.N.Y.)
- Marc Fisher Footwear in the acquisition of certain assets from Rockport Company LLC (Bankr. D. Del.)
- Thorobird Companies LLC in its acquisition of 2064 Grand Concourse (Bankr. S.D.N.Y.)
- Lawrence + Memorial Corporation in its acquisition of Westerly Hospital (Rhode Island)
- New York University Hospital in its acquisition of certain assets of Transcare Corp. (Bankr. S.D.N.Y.)
- SED International, Inc. in its acquisition of certain assets of Archbrook Laguna Holdings LLC (Bankr. S.D.N.Y.)
Counsel to Ombudsmen
- Counsel to the patient care ombudsman in Compass Medical P.C. (Bankr. D. Mass.)
Looking ahead
Borrowers and lenders will likely continue to “amend and extend” hoping to realize a greater return on their investment over time. While Chapter 11 will continue to provide an excellent framework for restructuring, alternative restructuring methods such as assignments for the benefit of creditors, receiverships and Article 9 Sales will provide for potentially more economical methods of restructurings—particularly for middle-market companies.
Insights
- “Combatting Distress in Healthcare,” BDO’s Healthcare Trends & Topics Webcast Series, June 27, 2023
- “Distressed M&A Toolkit for Transactional Attorneys,” MCBA CLE, April 26, 2023
- “Franchisee Fraud: When Fraud Threatens a Franchisor’s Good Name,” Journal of Corporate Renewal, May 2018 (co-author)
- “Bankruptcy Issues for Franchisors and Lenders,” Nixon Peabody Seminar, June 2023
- ”Restructuring Franchise Businesses in Chapter 11: Enhancing Lender and Franchisor Positions,” Nixon Peabody Seminar, December, 2023
- “Healthcare in Distress,” Nixon Peabody Seminar, December 2022
In the news
- QSR Magazine
Why are so many restaurant franchises going bankrupt?
July 11, 2024This article covers the rise of franchisee bankruptcy trends and challenges facing the industry. Washington, DC Corporate partner Keri McWilliams, co-leader of the Franchising & Distribution team, and New York City Corporate counsel Chris Desiderio, a member of the firm’s Financial Restructuring & Bankruptcy practice, are quoted in the coverage. Keri and Chris discuss factors that contribute to these trends, the importance of keeping an eye on the pulse of systems, and the tools available to know when systems might be headed for financial distress.
- Restaurant Dive
Ask an expert: How can brands protect struggling franchisees from bankruptcy?
April 15, 2024New York City Corporate counsel Chris Desiderio, a member of the firm’s Financial Restructuring & Bankruptcy practice, is featured in this Q&A, discussing his outlook for restaurant bankruptcies in 2024, what is driving these issues, and how franchisees and franchisors can handle these pressures.
- Deloitte Insights in The Wall Street Journal
How common hospital contracts can bruise financial health
This article covering the pandemic’s impact on professional services agreements (PSAs) quotes New York City Corporate counsel Chris Desiderio, of the Bankruptcy & Financial Restructuring team, who provides key considerations for hospitals and health systems about how to develop strong and economically-viable PSAs.May 17, 2022 - Law360
Deported man urges justices to review unfair deadline
This article mentions New York Corporate counsel Chris Desiderio and Boston Privacy & Technology counsel Ronaldo Rauseo-Ricupero for their pro bono representation of a Salvadoran man who is asking the US Supreme Court to review the Fifth Circuit’s refusal to reconsider his decades-old deportation order.April 5, 2022 - The Deal
SVXR to sell assets after lengthy marketing process
This article mentions Boston Corporate partner Jack Fainberg and senior counsel Richard Stein, and New York City Financial Restructuring and Bankruptcy counsel Chris Desiderio for representing Bruker Nano in its agreement to purchase the assets of semiconductor and electronics equipment maker SVXR Inc. as part of SVXR’s Chapter 11 case.Aug 9, 2021 - Laconia Daily Sun (N.H.)
Auction Set for LRGHealthcare's Assets
This article covers an upcoming auction of LRGHealthcare’s assets as part of the nonprofit hospital operator’s Chapter 11 bankruptcy case, noting an initial $30 million bid from Concord Hospital. Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, are representing LRGHealthcare, and the auction is scheduled for Dec. 16 at NP’s Manchester office.Nov 6, 2020 - Business NH magazine
LRGHealthcare Files for Bankruptcy, Concord Hospital May Acquire
The following article covers nonprofit hospital operator LRGHealthcare’s Chapter 11 bankruptcy filing as it seeks a buyer, mention Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, for representing LRGHealthcare.Oct 20, 2020 - The Deal
Covid Forces smarTours to Check into Ch. 11
This story covers travel company smarTours’ Chapter 11 bankruptcy filing, after the pandemic forced the company to suspend all tours earlier this year. The article mentions Boston partner Rick Pedone and New York City counsel Christopher Desiderio and associate Christopher Fong, all of the Financial Restructuring & Bankruptcy practice group, for representing smarTours.Oct 20, 2020 - Reuters Legal
New Hampshire Hospital Group Seeks Bankruptcy Relief
The following article covers nonprofit hospital operator LRGHealthcare’s Chapter 11 bankruptcy filing as it seeks a buyer, mention Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, for representing LRGHealthcare.Oct 19, 2020 - The Deal
LRGHealthcare to Sell Assets in Ch. 11
The following article, covers nonprofit hospital operator LRGHealthcare’s Chapter 11 bankruptcy filing as it seeks a buyer, mention Financial Restructuring & Bankruptcy practice group leader and Boston partner Victor Milione, Boston Complex Commercial Disputes partner Morgan Nighan, New York City counsel Chris Desiderio and associate Chris Fong, both of the Financial Restructuring & Bankruptcy group, for representing LRGHealthcare.Oct 19, 2020 - Reuters Legal
2nd Circuit blocks latest Lehman effort to recover $1 billion from noteholders
This article, covering the Second Circuit’s rejection of Lehman Brothers’ effort to claw back $1 billion, mentions NP for the work of Global Finance partner Amanda Darwin (Boston), and Financial Restructuring & Bankruptcy partner Rick Pedone (Boston) and counsel Chris Desiderio (New York) in representing the noteholders.Aug 11, 2020 - Law360
2nd Circ. Rejects Lehman's $1B Clawback Effort
This article, covering the Second Circuit’s rejection of Lehman Brothers’ effort to claw back $1 billion, mentions NP for the work of Global Finance partner Amanda Darwin (Boston), and Financial Restructuring & Bankruptcy partner Rick Pedone (Boston) and counsel Chris Desiderio (New York) in representing the noteholders.Aug 11, 2020 - Journal of Corporate Renewal
Franchisee fraud: When fraud threatens a franchisor's good name
Boston financial restructuring and bankruptcy partner Rick Pedone and New York City counsel Chris Desiderio authored this article about the steps and strategies franchisors and franchisee lenders must take to mitigate exposure to potential fraud.May 1, 2018 - ABI Journal
When is Final, Final? Appeals from § 363(m) Findings
New York City financial restructuring and bankruptcy counsel Chris Desiderio and Manchester financial restructuring and bankruptcy partner Dan Sklar are co-authors of this article analyzing two recent circuit court decisions that may have exposed a weakness in the bankruptcy court sale-and-approval process.April 5, 2018 - Rochester Business Journal
Bruegger's Moving Toward Sale
New York City Financial Restructuring & Bankruptcy counsel Chris Desiderio is quoted in this article about a U.S. Bankruptcy Court sale of Flour City Bagels LLC.April 29, 2016 - Law360
Nonprofits in the Zone of Insolvency: 2 Cautionary Tales
New York City financial restructuring and bankruptcy counsel Chris Desiderio, Washington, DC, M&A and Corporate Transactions partner Mike Cooney, and associate Rob Trott and Boston partner and leader of the firm’s Bankruptcy & Financial Restructuring practice Victor Milione coauthored this column on important issues charitable fiduciaries should educate themselves on to avoid insolvency.May 19, 2015
Admitted to practice
New York
Connecticut
U.S. District Court, Southern District of New York
U.S. District Court, Eastern District of New York
U.S. District Court, Western District of New York
U.S. District Court, Northern District of New York
U.S. Court of Appeals, First Circuit
U.S. Court of Appeals, Sixth Circuit
U.S. Court of Appeals, Second Circuit
U.S. Supreme Court
Education
Fordham University School of Law, J.D.
Trinity College, B.A.
Professional activities
- Catholic Renewal, Steering Committee member
- Turnaround Management Association member
Recognition
- Selected, through a peer-review survey, for inclusion in The Best Lawyers in America® 2025 in the field of Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
- Chris has been selected to the New York Super Lawyers Rising Star lists in 2013–2017. His primary area of practice is bankruptcy
Insights And Happenings
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View AllRichard C. Pedone
Partner / Team Leader, Bankruptcy & Financial Restructuring- Boston
- Office:+1 617.345.1305
- rpedone@nixonpeabody.com
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