Cathy Hershcopf, Partner

Cathy Hershcopf is a partner in the Firm's Bankruptcy & Restructuring practice. She joined Kronish Lieb Weiner & Hellman LLP in 1998, which was merged into Cooley Godward Kronish LLP in 2006. She is resident in the New York office.

Cathy Hershcopf concentrates on debtor and creditor's rights in Chapter 11 bankruptcy proceedings and out of court restructurings and workouts, with a focus on representing buyers and sellers of real estate, inventory, intellectual property and other assets in distressed situations, debtors in technology industries, and committees of unsecured creditors in retail cases nationwide.

During the past several years, Ms. Hershcopf has represented official committees of unsecured creditors in some of the most significant retail Chapter 11 bankruptcy proceedings throughout the country.

Highlights of Ms. Herschopf's creditor committee representations include:

• Montgomery Ward – Ms. Hershcopf coordinated the sale of more than $500 million of real estate through a designation rights agreement with Kimco Realty, led a campaign to negatively solicit a liquidation plan proposed by GE Capital, and assisted in settling the Committee's lawsuit against GE Capital for more than $80 million, which achieved a distribution to unsecured creditors in excess of 600% of the projected liquidation value of the largest retail liquidation in the country.
• Footstar, Inc. – Ms. Hershcopf assisted in the sale of the retail business to Foot Locker for $225 million, setting the stage for a successful reorganization which will pay unsecured creditors 100% of their claims, plus interest.
• Bob's Stores – Ms. Hershcopf assisted in creating a three-day competitive auction for substantially all of the retailer's assets resulting in a distribution to unsecured creditors in excess of 90% on their claims.
• New Weathervane – Ms. Hershcopf found a buyer to purchase substantially all of the noninventory assets of this New England retailer to a Canadian purchaser despite going out of business sales, thus obtaining a distribution and other benefits for unsecured creditors in a case where secured creditors were not paid in full.
• Archibald Candy Corporation – Ms. Hershcopf assisted in the sale of the Fanny May and Fanny Farmer assets in the U.S. and Laura Second assets in Canada, successfully litigated the estate's right to retain $2.1 million of lease proceeds and negotiated a distribution for unsecured creditors in a case where secured creditors were not paid in full.

Ms. Hershcopf also represented the creditors committees in retail Chapter 11 bankruptcy proceedings of The Sharper Image, Hancock Fabrics, The Bombay Company, Domain Furniture, Mervyn's, Steve & Barry's, Sports Collectibles, Lilian Vernon, Boscov's, Rag Shops, Wickes Furniture, Crowley Milner, Filene's Basement, Lamont's Apparel, Liberty House, Loehmann's, Richman Gordman Stores, Stage Stores, Steinbach's, Bedford Fair, C&R Clothiers, Casual Male, Christophers, Clothestime, Kuppenheimers, Moe Ginsburg, Today's Man, Levitz, Cornell Trading, Bachrach, Norstam, Copelands, Athlete's Foot, Herman's Sporting Goods, Jumbo Sports, Just for Feet, Pic N' Pay, The Walking Company and Sweet Factory, as well as hundreds of others.

Highlights of Ms. Hershcopf's recent employee committee representations include:

• United Airlines ESOP Committee – Ms. Hershcopf represented the ESOP Committee and its members in all matters relating to UAL Chapter 11 case, including successfully convincing the Bankruptcy Court to stay a class action lawsuit brought against the ESOP Committee in District Court and ultimately obtaining releases on behalf of the ESOP Committee and its past and current members.
• Enron Employee Related Issues Committee – Ms. Hershcopf assisted in obtaining a $28.8 million severance package for 4,500 employees terminated by Enron one day after the bankruptcy was filed.

Highlights of Ms. Hershcopf's recent debtor representations include:

• Metromedia Fiber Network, Inc., et al. – Ms. Hershcopf assisted the telecommunications and fiber network debtor in the sale of several stand alone businesses and excess real estate to fund the successful reorganization of the company and assist in restructuring approximately $5 billion in debt.
• Interliant, Inc., et al. – Ms. Hershcopf led this Internet service provider with revenues of approximately $160 million in the successful sale of its businesses as going concerns.

Highlights of Ms. Hershcopf's recent real estate restructuring representations include:

• Saint Vincent's Hospital – Ms. Hershcopf is the tort committee's representative on a joint committee to redevelop the Greenwich Village campus.

Highlights of Ms. Hershcopf's recent structured finance representations include:

• Caribbean Property Group – Ms. Hershcopf issued the non consolidation opinions in connection with Caribbean Property Group's refinancing of the Ritz Carlton and Radisson hotels in Puerto Rico and several other resort properties in the Caribbean.

Ms. Hershcopf received her JD, summa cum laude, in 1985 from New York Law School, where she was a member of the Law Review, and graduated in 1975, summa cum laude, from University of Massachusetts, where she was Commonwealth Scholar, with a BA degree. Ms. Hershcopf regularly addresses creditor groups, real estate professionals, distressed debt conferences and other groups regarding creditors' rights and bankruptcy and real estate matters. Ms. Hershcopf is an active member of the International Council of Shopping Centers and participates in annual sessions with attorneys from around the country regarding shopping center leasing and landlord and tenant issues related to retail bankruptcies. Most recently, she spoke at the ICSC Law Conference on the effect that changes in the bankruptcy law will have on retail cases.

Education

• New York Law School
  JD, summa cum laude
• University of Massachusetts
  BA, summa cum laude

Court Admissions

• U.S. District Court, Eastern District of New York
• U.S. District Court, Southern District of New York

Bar Admissions

• New York

Memberships

• American Bankruptcy Institute
• International Council of Shopping Centers (ICSC)
• New York State Bar Association
• Turnaround Management Association