Ira L. Herman Welcomed as Chair of NYC Bankruptcy Assistance Project Steering Committee

Committee also welcomes Arthur J. Gonzalez and other well-known members of the Bankruptcy world
January 10, 2013, New York, NY— The New York City Bankruptcy Assistance Project (NYC BAP, a program of Legal Services NYC) is pleased to announce Ira L. Herman as the newest Chair of its Steering Committee. Mr. Herman, a partner at Thompson & Knight LLP, has been a member of the NYC BAP Steering Committee for more than six years. As Chair, he succeeds Jane Lee Vris (Millstein & Co.), who will remain a member of the Committee.

“We must insure that the NYC BAP is able to carry out its mission of providing assistance to the neediest in the coming period, particularly given the economic disruption that is sure to visit low-income New Yorkers in the wake of Hurricane Sandy,” said Herman. “We are extremely pleased that Ira Herman has taken on this new role as Chair of the NYC BAP Steering Committee,” said Raun Rasmussen, Executive Director of Legal Services NYC.

“Ira has been a dedicated member of this Committee since very shortly after the Project’s inception. His contributions have been immeasurable, and his commitment to pro bono private attorney involvement has been an inspiration. We also express our deep gratitude to Jane Vris, the outgoing Chair, for her leadership this past year, under which we were able to significantly expand our efforts to provide critical bankruptcy assistance to low-income debtors.”

At Thompson & Knight, Mr. Herman concentrates his practice on restructuring, insolvency and distressed M&A with respect to financially troubled businesses and their assets. He has extensive experience representing secured and unsecured creditor interests, as well as Chapter 11 debtors, and is routinely called upon to represent financial institutions, indenture trustees, investors, and other creditor constituencies. Additionally, Mr. Herman represents buyers and sellers of distressed assets and regularly addresses issues relating to distressed commercial real estate, including securitized loans (CMBS) and leasing transactions. As a court-appointed mediator, he has been able to facilitate the resolution of commercial and bankruptcy law controversies involving U.S. and non-U.S. parties concerning real and personal property rights, voidable transfers, corporate governance and cross border trade.

The NYC BAP Steering Committee is also proud to welcome its newest member, Arthur J. Gonzalez, Senior Fellow at the New York University School of Law. As a former jurist, Mr. Gonzalez presided over some of the most high-profile bankruptcy cases in history.

“The addition of Arthur Gonzalez to the NYC BAP Steering Committee speaks to the importance of this program to New Yorkers and the bankruptcy bar,” said William Z. Kransdorf, NYC BAP’s Director. “We are thrilled to have him as part of our team as we help some of New York’s most vulnerable, hard-working people get back on their feet in the aftermath of the twin hits of the great recession and Superstorm Sandy.”

Also joining the guiding body of the pro bono program are D.J. (Jan) Baker, partner at Latham & Watkins LLP; Jeffrey L. Cohen, partner at Cooley LLP; M. Natasha Labovitz, partner at Debevoise & Plimpton LLP; Steven B. Smith, partner at Edwards Wildman Palmer LLP; and Joseph H. Smolinsky, partner at Weil, Gotshal & Manges LLP.

These esteemed leaders of the bankruptcy community will join a Steering Committee that includes Kathryn A. Coleman, Hughes Hubbard & Reed LLP; Jill Frizzley, Shearman & Sterling, LLP; Scott Greissman, White & Case LLP; Kristopher M. Hansen, Stroock & Stroock & Lavan LLP; David M. Hillman, Schulte Roth & Zabel LLP; Marc Kieselstein, Kirkland & Ellis LLP; Robert LeHane, Kelley Drye & Warren LLP; Richard B. Levin, Cravath, Swaine & Moore, LLP; Alan J. Lipkin, Willkie Farr & Gallagher LLP; Ben Rosenblum, Jones Day; Lisa M. Schweitzer, Cleary Gottlieb Steen & Hamilton LLP; Glenn E. Siegel, Dechert LLP; Todd R. Snyder, Rothschild; Fred Stevens, Klestadt & Winters, LLP; and Steven Wilamowsky, Bingham McCutchen.

About the NYC Bankruptcy Assistance Project

When low-income New Yorkers face financial crises, the implications are huge—a wage garnishment can send a worker back to dependency on public benefits or back to homelessness; an illness or job loss can mean eviction or home foreclosure. Founded in 2005, the New York City Bankruptcy Assistance Project at Legal Services NYC provides free bankruptcy assistance to low-income residents of New York City who are considering bankruptcy. NYC BAP assists people through weekly bankruptcy workshops, in which debtors meet with attorneys to learn about and be assessed for bankruptcy. Where appropriate, NYC BAP assists debtors in preparing and filing bankruptcy petitions. In addition, NYC BAP matches up pro bono (volunteer) attorneys for pro se (self-represented) debtors in litigation matters before bankruptcy courts. Beginning in 2013, NYC BAP is working to expand its assistance to provide free attorney assistance to debtors facing foreclosure via the Bankruptcy Courts’ loss mitigation program. In 2011, NYC BAP staff and volunteers helped 225 clients discharge $10.5 million in debt they could not pay. Attorneys who are interested in learning how to volunteer with the project should contact William Kransdorf at 646-442-3646.

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