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James A. Rubenstein brings a solutions-oriented approach to his clients' challenges in finance, business bankruptcy and commercial litigation. He is experienced in representing borrowers in complex financing transactions and in addressing the legal problems of clients arising in Chapter 11 and Chapter 7 cases under the United States Bankruptcy Code, as well as out-of-court reorganizations and receiverships. Mr. Rubenstein's nationwide practice routinely involves high-dollar transactions and complicated litigation. He represents secured and unsecured creditors, business owners and buyers, landlords, debtors and trustees. He has also served as a court-appointed receiver of companies where management is accused of defrauding creditors and shareholders.
In addition, Mr. Rubenstein advocates for clients in business-to-business litigation and commercial leasing. As an experienced litigator and negotiator, Mr. Rubenstein helps resolve business and real estate disputes as a neutral mediator. He speaks frequently on bankruptcy and commercial leasing topics.
Mr. Rubenstein is certified as a Business Bankruptcy Specialist by the American Bankruptcy Board of Certification. He is also a member of the American, Minnesota State and Hennepin County Bar Associations, and serves on the Board of the Legal Aid Society of Minneapolis.
Representative Cases:
Served as an attorney for the creditors committee in Hitchcock Industries, a case in which the unsecured creditors, who totaled some $4.5 million, were paid in full with interest.
Served as co-counsel to the Creditors Committee in the Chapter 11 case of Sheldahl, Inc. in Minnesota. He evaluated hundreds of preference claims and, with co-counsel, commenced approximately 125 preference recovery actions after settling many prior to bringing suit. All net proceeds from preference collections, as well as from the sale of numerous other assets are to be paid to the unsecured creditors.
Represented a non‑profit corporation owning three
Represented a bank in a the Chapter 11 of a mail order company in which the bank recovered its principal and interest on loan of approximately $6.5 million, plus value for stock issued to the bank in connection with a Chapter 11 reorganization.
Represented State of
Represented a financial institution with $10 million debt and a second‑place security interest in an optical company with $70 million in sales. Client eventually purchased the company as part of its reorganization under Chapter 11.
Protected foreign financial institution with security interest in assets of oil drilling syndicator against lender liability and related claims. Negotiated acceptable treatment under the syndicator's plan of reorganization and the allowance of approximately $4.5 million in claims against its guarantor.
Represented
Confirmed a Chapter 11 plan for an upstate New York retailing debtor with $65 million in sales and accomplished an out‑of‑court workout for a related company with over 40 convenience stores in Ohio and Kentucky.
Served as court-appointed receiver of airline charter company in case of stock fraud and other fraud, involving in excess of $30 million. Creditors eventually received close to 100% of claims, public shareholders received substantial compensation and the perpetrators went to jail.
Represented a publicly traded company in negotiating, documenting and closing a credit facility of over $1 billion consisting of revolving debt, term notes and subordinated debt.
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