Distressed Assets Group

Drawing on our substantial experience representing the RTC and FDIC in connection with their savings and loan takeovers as well as financial institutions and investors in connection with troubled assets, the firm's Distressed Assets Group is in an ideal position to assist clients in taking advantage of new opportunities and avoiding pitfalls created by the rapidly-changing financial climate and regulatory structure, including with respect to the recently-established Troubled Asset Relief Program (TARP) of the U.S. Department of the Treasury. Riker Danzig, named for the fourth year in a row as the #1 law firm in New Jersey by Best Lawyers of America®, has assembled a highly-skilled and experienced team of attorneys to assist governmental agencies, financial institutions, asset managers, investors, developers, and other clients in understanding and responding to the ongoing economic tumult and to TARP and other government initiatives. Our significant experience, combined with our strong practices in the areas of financial transactions, banking litigation, real estate and bankruptcy, makes our Distressed Assets Group exceptionally well-positioned to assist clients in these matters.

Riker Danzig's Distressed Assets Group is led by the firm's co-chairman Gerald A. Liloia, head of the firm's Litigation Practice, which was ranked as the #1 Litigation Practice among New Jersey law firms by Best Lawyers and has been ranked in the first tier for Commercial Litigation in New Jersey by Chambers USA: America's Leading Business Lawyers Client's Guide, which noted of the firm in 2008 that it "matches up to any New York firm." Mr. Liloia is joined by attorneys with extensive experience in banking, loan workout, real estate, bankruptcy/creditor's rights, loan related litigation, corporate governance, mergers and acquisitions, financial restructuring, governmental relations and white collar criminal law, providing our clients with an exceptionally high level of service. The broad-based knowledge of Distressed Assets Group members enables them to advise potential buyers and sellers of distressed real estate, distressed companies and distressed debt, and represent companies in investigations and litigation arising out of the financial markets disruption.

During the late 1980's and 1990's, we represented the RTC and FDIC (who we continue to represent) in complex transactions relating to their loan and real estate assets from failed savings and loan institutions. Riker Danzig acted as lead counsel for the RTC, making new law in the process. We carried out legal audits of some of the largest failed financial institutions, restructured and collected hundreds of millions of dollars in defaulted loans, handled scores of foreclosure actions and bankruptcies, defended lender liability claims and prosecuted claims under Fidelity Bonds and Directors and Officers liability policies. In addition, we handled the disposition of numerous pools of assets, including loan packages and real estate assets.

Since our firm's inception, one of our primary areas of focus has been serving as counsel to banks and other lending institutions in all facets of their businesses, including their most complex troubled loans, providing both advice regarding restructuring of those loans and litigation expertise. Our attorneys are experienced in handling problem loans from the point of identifying the problem to ultimate disposition, including appointment of property managers, workouts, foreclosure and bankruptcy issues that may arise during the process.

We also represent corporate trustees, collateral agents, escrow agents and other institutional fiduciaries. Our corporate attorneys have a breadth of experience in guiding financial services and other clients through the recapitalization, industry consolidation, acquisitions and related transactions that are expected to be generated by TARP and as will otherwise occur as the economy enters its next turbulent phases through recovery.

Finally, the members of Riker's Government Affairs team utilize our long-standing experience with key state and federal agencies to assist clients in effectively navigating regulatory oversight and other governmental interactions.