Michael R. Lastowski

Partner

  • Michael R. Lastowski
  • Phone: +1 302 657 4942
    Fax: +1 302 397 2138

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  • Duane Morris LLP
    222 Delaware Avenue, Suite 1600
    Wilmington, DE 19801-1659
    USA

Michael R. Lastowski is the managing partner of Duane Morris' Wilmington office. Mr. Lastowski practices in the areas of bankruptcy law and commercial litigation.

Admitted to practice in Delaware, Pennsylvania and New York, Mr. Lastowski is a member of the board of directors of the American Board of Certification and the board of directors of the Association of Insolvency & Restructuring Advisors (AIRA). He is also a member of the editorial board of the AIRA Journal.

Mr. Lastowski is a 1980 graduate of the University of Pennsylvania Law School and a 1976 graduate of Brown University.

The listing of areas of practice in the foregoing profile does not represent official certification as a specialist in those areas.

Representative Matters

  • Represented the Government Employees’ Retirement System of the Virgin Islands as a secured creditor in the chapter 11 case of Life Settlements Absolute Return I, LLC.
  • Represented the Joint Administrators of BSG Resources Limited in their chapter 15 case.
  • Represented the DIP lender in the chapter 11 case of the Nordam Group, Inc.
  • Represented a secured lender in the chapter 11 case of Claire’s Stores, Inc.
  • Represented the chapter 11 trustee in the New England Compounding Pharmacy, Inc. d/b/a New England Compounding Center case.
  • Represented the majority shareholder of Syms Corp. in the chapter 11 case of Filene’s Basement, L.L.C.
  • Represented the Official Committee of Unsecured Creditors in the Real Industry chapter 11 case.
  • Represented the Delaware Economic Development Authority as a second lien lender in the chapter 11 case of Fisker Automotive Holdings, Inc.
  • Represented private equity firm Clarion Capital Partners and its portfolio company Lenox Corporation in Lenox’s successful $22.2 million bid in the US Bankruptcy Court for the District of Massachusetts to acquire, in a Section 363 sale, substantially all of the assets of Reed and Barton Corporation, a prominent American silversmith manufacturer.
  • Represented purchaser and its joint venture partners in securing the highest bid for purchase of Montana resort in the resort's Chapter 7 bankruptcy case.
  • Represented Sleep Innovations Inc., a manufacturer and distributor of specialty sleep products, in its chapter 11 case and was co-recipient of the 2010 Turnaround of the Year Award in the Large Company category from the Turnaround Management Association.
  • In re Archway Cookies, LLC (Counsel to the Debtors)
  • In re Borden Chemicals & Plastics Operating Limited Partnership (Counsel to the Debtors)
  • In re Buffets Holdings, Inc. (Co-counsel to the First Lien Lenders)
  • In re CareMatrix Corp. (Counsel to the Debtors)
  • In re Comfort Co., Inc. (Counsel to the Debtors)
  • In re Cone Mills Corp. (Counsel to Asset Purchaser)
  • In re Digital Broadband Communications (Counsel to the Debtor)
  • In re Dura Automotive Systems, Inc. (Co-counsel to the First Lien Lenders)
  • In re Lids Corp. (Counsel to the Debtor)
  • In re Safety-Kleen Corp. (Counsel to Asset Purchaser)
  • In re Spansion Inc. (Co-counsel to the Debtors)
  • In re Tropicana Entertainment, LLC (Co-counsel to the First Lien Lenders)
  • In re USG Corporation (Co-counsel to the Official Committee of Unsecured Creditors)
  • In re VF Brands Inc. (Co-counsel to the Official Committee of Unsecured Creditors)
  • In re Video Update, Inc. (Co-counsel to the Debtor)
  • In re Vitts, Inc. (Counsel to the Debtor)
  • In re W.R. Grace & Co. (Co-counsel to the Official Committee of Unsecured Creditors)
  • In re White Energy, Inc. (Counsel to the Debtors)

Admissions

  • Delaware
  • Pennsylvania
  • New York
  • Supreme Court of the United States
  • U.S. Court of Appeals for the Third Circuit
  • U.S. District Court for the District of Delaware
  • U.S. District Court for the Eastern District of Pennsylvania
  • Supreme Court of Delaware
  • Supreme Court of Pennsylvania

Education

  • University of Pennsylvania Law School, J.D., cum laude, 1980

Experience

  • Duane Morris LLP
    - Partner, 2000-present
  • Saul, Ewing, Remick & Saul LLP, Philadelphia, Pennsylvania
    - Partner, 1988-2000
    - Associate, 1984-1988
  • Morgan, Lewis & Bockius, Philadelphia, Pennsylvania
    - Associate, 1980-1984

Professional Activities

  • Association of Insolvency & Restructuring Advisors
    - Member, Board of Directors
  • American Board of Certification
    - Member, Board of Directors
  • ABI Certification in Business Bankruptcy, 2005-2019

  • Pennsylvania Bar Association

  • American Bankruptcy Institute
    - Unsecured Trade Creditor Subcommittee
  • Law360 Editorial Advisory Board
    - Bankruptcy Section, 2010

Honors and Awards

  • Listed in U.S. News/Best Lawyers "The Best Lawyers in America," Bankruptcy and Creditor Debtor Rights Category, 2016-2020

  • Listed in Chambers USA: America's Leading Lawyers for Business, 2010-2019

  • Listed in Delaware Super Lawyers, 2014-2019

  • Listed in Best Lawyers Greater Philadelphia, 2016
  • <AV Preeminent® Peer Review Rated by Martindale-Hubbell®

Selected Publications

Selected Speaking Engagements

  • Moderator, "Avoiding Disaster: Navigating Ethical Issues Relating to Retention and Compensation," 35th Annual Bankruptcy & Restructuring Conference, Association of Insolvency and Restructuring Advisors, June 8, 2019

  • Panelist, "Alternatives to Bankruptcy," 14th Annual Advanced Restructuring & Plan of Reorganization Conference, Association of Insolvency & Restructuring Advisors (AIRA), New York, November 2, 2015
  • Speaker, "22nd Annual Northeast Bankruptcy Conference," American Bankruptcy Institute, July 9-12, 2015
  • Speaker, "Recent Developments in Chapter 11 Practice in Wilmington," Boston Bar Association, October 2012
  • "Second Lien Lenders and Intercreditor Issues," PBI Bankruptcy Forum, October 2009
  • "Post-Confirmation Trusts," AIRA New York Symposium, September 2008
  • ABI Trial Advocacy Symposium, 2003
  • "Creditor's Committee Strategies," PBI Business Forum, September 2002
  • "Fundamentals of Bankruptcy Law and Procedure in Delaware," NBI Forum, September 2001
  • "Acquiring Assets Through Bankruptcy," Pennsylvania Bar Institute's Business Lawyers' Institute, Philadelphia, Pennsylvania, November 10, 2000, and November 28-29, 2001