An alumnus of the American University, Washington College of Law, Norman Kinel has pursued a distinguished career in bankruptcy law spanning more than three decades. Over the years, Norman Kinel has worked on many major bankruptcy cases, including the Lehman Brothers case, where he represented individual clients and was also later selected to serve as a court-approved mediator.The largest bankruptcy case in American history, the 2008 collapse of Lehman Brothers sent shockwaves through the financial markets and helped to precipitate a global financial crisis that devastated world economies and led to substantial regulatory and market reforms. This collapse was due in part to Lehman Brothers’ rapid acquisition of mortgage lenders in previous years and a reliance on subprime mortgage securities, which left the financial giant exposed to the housing collapse that began in earnest in 2007.Now, 10 years after Lehman Brothers filed for bankruptcy, the trustee in charge of the proceedings has stated that the case is winding down. According to a court filing by James Giddens, only a few hundred of the more than 140,000 initial claims against Lehman Brothers remain open. According to the filing, secured creditors were repaid in full, while unsecured creditors received nearly 40 cents on the dollar for their claims.
A respected bankruptcy attorney at Squire Patton Boggs, Norman Kinel draws on more than three decades of experience in handling complex bankruptcy litigation and corporate restructuring in his practice based in New York City. Also active in the larger field, Norman Kinel belongs to professional groups such as the Turnaround Management Association (TMA).Founded in 1988 by a group of leading turnaround practitioners, TMA has grown into a global organization of turnaround professionals with more than 8,000 members in more than 50 countries. The organization serves its members through continuing education opportunities, research publications, and an industry-standard certification program. Additionally, TMA hosts a range of networking and professional development events each year, including the Distressed Investing Conference.For the past 13 years, TMA has brought together the country’s top corporate restructuring and distressed investing professionals for several days of panels, keynote speeches, and networking opportunities. The 2019 conference will take place at the Encore at The Wynn in Las Vegas from February 6- 8. An annual event for distressed investing and corporate restructuring professionals, the conference has previously offered access to more than $5 billion in capital from deal partners such as Balmoral Funds, Excelsior Capital Partners, and Monroe Capital LLC.Michael Psaros of KPS Capital Partners will be the keynote speaker for the conference's closing event, which will be moderated by Keith Maib of Mackinac Partners LLC and Scott Victor of SSG Capital Advisors LLC. To learn more about the conference, please visit distressed.turnaround.org.
Bankruptcy attorney Norman Kinel has successfully handled numerous cases and litigation involving intricate bankruptcy and restructuring matters. With more than three decades of legal experience, Norman Kinel is an active member of several professional associations, including the American Bankruptcy Institute (ABI).ABI is the nation’s largest resource for expert information on bankruptcy legislation, trends, and regulations. Moreover, the organization publishes case studies and long-form articles from its members in its monthly journal. In the July 2018 issue, bankruptcy experts Dr. Israel Shaked and Brad Orelowitz, CPA, outlined 10 of the most recurring causes of company bankruptcy, including the few listed here.-The downside of successOverconfidence stemming from success often leads to risky decision-making that can cause financial issues. Company analysts may also erroneously base the company’s success solely on sales and growth and not account adequately for shortfalls.-Poor planning Companies may make restructuring or financial decisions that are only effective in the short-term. If financial problems occur unexpectedly, the lack of a cushion can push a company into bankruptcy.-Fear of changeBankruptcy is often a direct result of a company’s resistance to addressing significant changes in their market or consumer base.
For more than 30 years, Norman Kinel has led an award-winning career as a bankruptcy attorney in prominent firms such as Squire Patton Boggs; Cadwalader, Wickersham & Taft; Whitman Breed Abbott & Morgan (now Winston & Strawn); Sidley Austin; and Lowenstein Sandler. To prepare for his career, Norman Kinel earned his law degree from the American University Washington College of Law (AUWCL).Founded in 1896, AUWCL has developed a reputation as a center for academic excellence. The school stands out for its highly ranked programs in health law, business law, and international law, as well as its robust clinical program that provides students with hands-on learning experiences.The AUWCL clinical program offers 10 distinct clinics in specialties such as immigration justice, disability rights, and community and economic development. The clinical program’s second- and third-year students receive extensive guidance from faculty but hold primary responsibility for all litigation, research, and transactional duties.
Attorney Norman Kinel specializes in bankruptcy law as a partner at the New York City offices of Squire Patton Boggs (US), LLP, where he is a member of the firm’s Restructuring & Insolvency Practice. A respected voice in his industry, Norman Kinel serves on the Board of Editors for The Bankruptcy Strategist, a widely read law journal newsletter. The Bankruptcy Strategist is published by Law Journal Newsletters, which is a news portal that strives to deliver high-quality content from industry experts in specific verticals targeting the needs of attorneys in the fields of bankruptcy law, technology law, commercial law, and a number of other sectors. Recent topics covered by the Bankruptcy Strategist have included LLCs and the difficulty in enforcing judgments against them as well as non-compete clauses and fair market value. Interested attorneys can link their Lexis Nexis accounts to the Law Journal Newsletters website if they wish to subscribe to The Bankruptcy Strategist.
New York attorney Norman Kinel is a partner at Squire Patton Boggs LLP. Before joining this firm, Mr. Kinel worked as an associate at Cadwalader, Wickersham & Taft and later was a partner at Whitman Breed Abbott & Morgan; Sidley Austin; and Lowenstein Sandler. In his current position, Norman Kinel is a member of his firm’s restructuring and insolvency practice, is head of the firm's creditors' committee practice and represents numerous clients in bankruptcy cases nationwide.Many times bankruptcy attorneys are approached by creditors who want to claim debts or enforce judgments against debtors. These creditors are often frustrated and eager to commence involuntary bankruptcy proceedings to force the debtor into bankruptcy. However, bankruptcy courts have shown reluctance to be treated as collection agencies. In the case of In re Mathew M. Murray, the creditor, a law firm, wanted to enforce a $19 million judgment against the debtor, Murray, by initiating involuntary bankruptcy proceedings. The law firm sought an order for the sale of real property that the debtor held jointly with his wife. While the petition did meet the minimum filing requirements, the bankruptcy court ruled that the case was commenced in bad faith to either enhance its rights against the debtor or obtain leverage in negotiations. The court held that courts are not to be misused as collection agencies, and bankruptcy proceedings are not judgment enforcement tools.
