Mark E. Felger is the managing partner of the Wilmington office and co-chair of the firm’s Bankruptcy, Insolvency & Restructuring Practice. Mark has a broad commercial practice, focusing in the areas of Chapter 11 reorganization and general insolvency law for almost 30 years.
He has represented all constituencies in corporate restructurings and insolvencies both in and out of Chapter 11, including debtors, unsecured creditors’ committees, plan trustees, secured creditors, trade creditors, landlords, equipment lessors, reclamation creditors, insurance companies, and equity security holders, as well as acquirers of troubled businesses.
Mark’s practice includes, in large part: (i) counseling debtors through non-judicial restructurings and Chapter 11 proceedings; (ii) advising unsecured creditors’ committees in Chapter 11 proceedings; and (iii) representing trustees in complex Chapter 7 cases.
Mark is a certified mediator for the U.S. Bankruptcy Court for the District of Delaware and maintains an active mediation practice. He has been appointed to serve as mediator in several hundred proceedings over the past dozen years and has successfully mediated more than 100 matters, including WARN litigation, breach of fiduciary duty actions, avoidance litigation, and claim disputes.
Mark is a co-author and editor of Representing the Creditors’ Committee: A Guide for Practitioners, published by the American Bankruptcy Institute. In addition, he is president-elect and a Board member for the Philadelphia/Wilmington Chapter of the Turnaround Management Association; and served as the co-chair of the TMA’s Mid-Atlantic Regional Symposium for 2017 and 2018.
Mark is on multiple committees for the American Bankruptcy Institute and recently served as the co-chair of the Unsecured Trade Creditors’ Committee. Mark also serves on the Delaware Local Rules Committee and the Board of the American Board Certification.
Mark graduated from Rochester Institute of Technology, with high honors in 1985, and received his J.D. in 1989 from Boston University.
- Represented Unilife Corporation and its affiliates as lead bankruptcy counsel in Chapter 11 proceedings in the District of Delaware. The case involved the sale of the debtors’ assets through a Court-sanctioned section 363 auction sale process to four separate buyers; the wind-down of the debtors’ Australian affiliates; the negotiation and settlement of derivative claims, which created a fund for distribution to creditors; and the negotiation and confirmation of a consensual plan of liquidation with the creditors’ committee.
- Represented Aluminum Shapes, LLC and various affiliates in their Chapter 11 proceedings in the District of New Jersey. The cases were filed with a pre-negotiated plan with the debtors’ plan sponsor and secured creditors. The cases were hard fought with the creditors’ committee and resulted in a confirmed plan within six months of the petition date – with the committee’s consent. The plan sponsor was replaced mid-way through the case by a party that offered financing on better terms and a larger recovery for unsecured creditors.
- Represented the Official Committee of Unsecured Creditors in the 1031 Tax Group cases that were commenced in the Southern District of New York, which involved widespread fraud perpetrated by the debtors’ principals. The committee worked with the Chapter 11 trustee to confirm a consensual plan of reorganization that in the end will result in a recovery to unsecured creditors in excess of 70 cents on the dollar.
- Represented Chapter 7 trustees, committees, and debtors in the investigation and pursuit of litigation against the debtor’s former directors and officers for breach of fiduciary duty and related claims in the following cases: Affirmative Holdings, Hashfast, Scoreboard, Starter Corporation, Glass Group, TVC/OPUS, Archway Cookies, Capitol Infrastructure, Advanced Interactive Systems, and 38 Studios.
- Represented Chapter 7 trustee as special counsel to develop and implement auction process to sell substantially all of the assets of the estates under Section 363 of the Bankruptcy Code in the following cases: Advanced Interactive System, Synova Healthcare, Peregrine I, Pixel Optics, Polymedix, Pursuit Capital, Impact Services, A Voce, Lyton Partnership, and Thompson River Power.
- Boston University School of Law, J.D., 1989
- Rochester Inst. of Technology, B.A., 1985
BAR ADMISSIONS : Delaware; New Jersey; New York; Pennsylvania
COURT ADMISSIONS :
- New York Supreme Court
- U.S. Court of Appeals for the Third Circuit
- U.S. District Court — Eastern District of New York
- U.S. District Court — Eastern District of Pennsylvania
- U.S. District Court — New Jersey
- U.S. District Court — Northern District of New York
- American Bankruptcy Institute
- Turnaround Management Association
- The American Board Certification
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