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Susan F. Balaschak

666 Fifth Avenue
20th Floor
New York, NY 10103

Susan F. Balaschak is a partner in the Bankruptcy & Reorganization practice. Susan has experience in all aspects of business restructuring and reorganizations, with a principal focus on creditors' rights, asset sales, including 363 sales and strategic acquisitions, workouts, and business counseling. She has served as counsel to equity funds, portfolio companies, secured lenders, secured and unsecured creditors and to numerous official committees, including some of the largest complex Chapter 11 retail cases. Susan regularly represents clients in bankruptcy related litigation throughout the country. She is an appointed mediator and is listed on the mediation panels in the U.S. Bankruptcy Courts for the District of Delaware and the Southern District of New York.
Representative Experience
Negotiated over $350 million debtor-in-possession financing, liens for the benefit of trade vendors; going out of business sales in store closures and, ultimately, the sale of the business.
Representation of potential purchasers of assets pursuant to section 363 of the bankruptcy code.
Representation of unofficial and official creditors' committees, out of court restructurings, secured lenders, equity funds, portfolio companies, and major vendors, suppliers, licensors, and licensees.
Prosecution and defense of preference and fraudulent conveyance actions.
Representation of the Creditors' Committee in the Nations leading mall-based and online specialty retailer, and 69 of its subsidiaries and affiliates with approximately $1.5 billion in annual sales and more than 1,244 stores, wholesale businesses and internet divisions in all 50 states, Puerto Rico and Guam.
Oversaw the successful consummation of the plan of reorganization, including the settlement of over 500 potential and actual adversary proceedings and the reconciliation of in excess of a billion dollars in claims.
Representation of potential purchasers of assets pursuant to section 363 of the bankruptcy code and plans of reorganizations.
Awards & Recognition
Super Lawyers Magazine 2007-2011, Listed in Corporate Counsel New York editions for Bankruptcy & Creditor/Debtor Rights; 2014-2015, Listed in New York for Bankruptcy: Business and Creditor Debtor Rights
United States Bankruptcy Court, District of Delaware, Appointed Mediator and listed on the Court's Mediation Panel
United States Bankruptcy Court, Southern District of New York, Appointed Mediator and listed on the Court's Mediation Panel
Published Works & Lectures
American Bar Association 2014 Business Law Section Annual Meeting, Speaker, "Claims-Trading Best Practices," September 2014
Law360, Quoted in article for victory in the U.S. Court of Appeals, Third Circuit claims-trading case involving KBToys Inc., December 2013
Bankruptcy Law360, Co-Author, "Losing the Bid: Philadelphia Newspaper Sale Dispute," August 2010
ABI Journal, "Chapter 22s: Rehabilitation or Quick Fix"
Daily Bankruptcy Review, Author, "The Changing Face of Creditors' Committees"
The PriceWaterhouse Trade Credit Reporter, Co-Author, "Legal Perspective: Protecting Your Holiday Shipments"
Journal of Bankruptcy Law and Practice, Co-Author, "Going out of Business Sales: Balancing the Interests of Landlords, Creditors, regulatory Agencies and the Public in Chapter 11 Retail Cases"
Commercial Law and Practice, Co-Author, "Post-Petition Remedies-Trade Creditors"
Ms. Balaschak has prepared and presented creditors' rights educational material at meetings of national credit organizations, regional credit associations and continuing legal education programs, including: Mass Merchandisers Suppliers Credit Association- East Coast Regional Meeting; National Software Credit Association - annual and quarterly meetings -West and East Coasts; National Audio Manufactures Credit Association - East Coast Regional Meeting; and the Outdoor Product Credit Association - Annual Meeting
Professional Memberships & Activities
International Women's Insolvency and Restructuring Confederation, New York Chapter, Member; Former Board Member
New York State Bar Association, Member
Texas State Bar Association, Member
American Bankruptcy Institute, Member
Turnaround Management Association, Public Relations Subcommittee, Member
Related Professional Experience
Law Clerk to the Honorable Prudence Carter Beatty, U.S. Bankruptcy Judge for the Southern District of New York

Associated News, Events and Publications

Susan F. Balaschak

Bankruptcy & Reorganization
Representative Clients
Adelphia Corp. et al. (Special Debtors' Counsel, Bankr. SDNY)
Ames Department Store (Employees' Committee, Bankr. SDNY)
Bozel, S.A, et al. (Secured Lender, Bankr, SDNY)
Cynergy Data LLC, et al. (Purchaser, Bankr. DE)
Enron Corp., et al. (Major Vendor, Bankr. SDNY)
eToys, Inc. (Creditors' Committee, Bankr. DE)
FAO Schwartz, Inc. (Creditors' Committee, Bankr. DE)
Furniture Brands, Inc. (Major Vendor, Bankr. DE)
Friedman's, Inc. (Joint Ventures, Bankr. DE)
Jamesway Department Stores (Creditors' Committee, Bankr. SDNY)
KB Toys, Inc. (Creditors' Committee and Post-confirmation Residual Trustee, Bankr. DE)
Kmart Corporation (Equity Committee, Bankr. NDILL)
Neostar Retail Group a/k/a Babages, etc. and Software, etc. (Creditors' Committee, Bankr. NDTX)
Oasys Mobile, Inc. (Major Licensor, Bankr. SDNY)
Odyssey Petroleum Corp (U.S.) (Secured Lender, Bankr, SD Miss)
PC Service Source/Cylix Engineering Corp. (Creditors' Committee, Bankr. NDTX)
The Door Store (Creditors' Committee, Bankr, SDNY)
THQ, Inc (Major Licensor, Bankr. DE)
Tribune Company Fraudulent Transfer Litigation (Multiple Trusts/Shareholders, SDNY)
Video Game Exchange (Creditors' Committee, Bankr. Ohio)
Whitehall Jewellers, Inc. (Lender, Bankr. DE)
J.D., Benjamin N. Cardozo School of Law, 1985; Samuel Belkin Scholar, Cardozo Law Review
B.A., John Jay College of Criminal Justice, 1979; magna cum laude
Bar Admissions
New York
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