Timothy Q. Karcher is a partner in the Business Solutions, Governance, Restructuring & Bankruptcy Group where he focuses his practice on bankruptcy, financial restructuring, insolvency, crisis management, financial reform, and the acquisition and sale of assets and troubled companies in and out of chapter 11.
He is currently serving as counsel to the Creditors Committee in the chapter 11 cases of Westinghouse Electric Company, one of the largest chapter 11 cases of 2017 with estimated liabilities of several billion dollars.
He is also counsel to the Trustee in ITT Educational Services, Inc., the largest for-profit college bankruptcy, and has held significant roles in some of the most important restructuring cases of the past decade, including Pacific Exploration and Production Corp. (debtors’ counsel for $6 billion international oil and gas exploration restructuring), Rotech Healthcare, Inc. (debtors’ counsel in $800m restructuring), MF Global (committee counsel), Enron Corporation (debtors’ counsel), Ames Department Stores (debtors’ counsel), G-I Holdings (debtors’ counsel), and Regal Entertainment (debtors’ counsel).
In addition, Timothy has represented individual creditors, statutory committees and ad hoc groups in the restructuring cases of Ultra Petroleum Corp., BFN Operations, TransCare Corporation, Hoop Holdings (Disney Stores), Kodak, New World Pasta, Coram Healthcare, American Airlines, Blockbuster, Trident Microsystems, Innkeepers Trust USA, Chrysler Financial Corporation, Midway Games and New Stream.
Timothy has substantial experience representing public and private companies, secured and unsecured creditors, investors, hedge funds, private equity, family offices and financial institutions in a broad range of U.S. and international business restructuring and litigation cases.
He advises companies and creditors in a wide array of industries, including oil and gas, health care, retail, technology, hospitality, financial services, airline and entertainment. In addition to his focus on financial restructuring, Timothy has extensive experience in the field of regulatory reform.
He led a Proskauer team that worked with federal regulators from the Federal Reserve Board and the Office of the Comptroller of the Currency as part of Independent Foreclosure Review to reform mortgage servicing and foreclosure practices for borrowers who have sought bankruptcy protection.
He has advised large institutional clients to develop strategies to ensure compliance with consent orders with the Federal Reserve Board and the Office of the Comptroller of the Currency. In connection with his work for ITT Educational Services, Inc., he has litigated against (and achieved consensus with) the Consumer Financial Protection Bureau (CFPB), Securities and Exchange Commission (SEC), Department of Education (ED) and multiple states attorney’s general.
Timothy frequently writes and speaks on issues related to bankruptcy and corporate reform and has had articles published in the Journal of Corporate Renewal and the ABI Journal. Since 2013, Timothy has been a co-author of the multi-volume treatise Consumer Financial Protection Bureau Reporter, published by Wolters Kluwer Law & Business.
He also serves as editor and chief writer of CFPB Watch – Ferrara & Karcher, a monthly publication providing commentary and analysis on developments relating to financial protection and regulation, mortgage reform and the Consumer Financial Protection Bureau.
The Legal 500 United States calls Timothy “excellent,” recognizing him “in particular for his representation of retail, insurance and financial companies.” Timothy led the Proskauer team on the Trident Microsystems chapter 11 case which won a 2013 M&A Advisor Distressed M&A Deal of the Year (Over $25mm to $100mm) for the resulting sale of the business.
In that same year, Timothy also received a Finance Monthly Dealmaker of the Year Award. The restructuring of Pacific Exploration was recently selected for the 2017 Cross Border Turnaround of the Year Award by Global M&A Network, which recognizes the best value-creating multi-jurisdictional and restructuring events with a qualified value over US$5 billion.
Within Proskauer, Timothy is a co-captain in the Firm’s nationally recognized Diverse Lawyer Mentoring Circle Program, which aims to enhance the integration and development of junior-level diverse associates with one-on-one support from designated partner mentors.
Among his charitable activities outside of the Firm, Timothy serves on the board of directors and the executive committee of Care for the Homeless, a New York City based not-for-profit, which fights homelessness by delivering high-quality and client-centered healthcare, human services and shelter to homeless individuals and families, and by advocating for policies to ameliorate, prevent and end homelessness.
- Rutgers University School of Law, J.D., 1998
- Harvard University, A.R.T. Institute, Certificate, 1993
- University of North Carolina at Chapel Hill, B.A., 1991
Admissions & Qualifications : New York, New Jersey
Court Admissions :
- U.S. District Court, New York, Eastern District
- U.S. District Court, New York, Southern District
- U.S. District Court, New Jersey
- U.S. Court of Appeals, Second Circuit
- American Bankruptcy Institute
- Care for the Homeless, Board Member (2013-present)
- New Jersey State Council on Local Mandates, Member (2000-2014), Chairperson (2003-2005)
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