Richard represents significant business interests in transactions and litigation, with a strong concentration in the areas of business insolvency and debtor-creditor relations. He has extensive experience representing a range of clients in business matters throughout the United States and overseas.
Richard is an adjunct professor at Chicago Kent College of Law, where he has taught Bankruptcy Law each year since 1983. He has been named to Best Lawyers in America, Illinois Superlawyers and Leading Lawyers Network and currently serves as co-chair of the Insolvency Section of the International Bar Association and chair of the Education Committee of the American College of Bankruptcy. He is a frequent speaker at continuing legal education programs sponsored by organizations such as the American Bar Association, International Bar Association, American Bankruptcy Institute, Commercial Law League of America, Practicing Law Institute, National Association of Bankruptcy Trustees, and state and local bar associations.
Richard has been admitted to and appeared in various federal courts in 20 states.
Representation of foreign entity purchasing businesses from restructuring debtor.
Representation of foreign insolvency representative in U.S. ancillary proceeding.
Representation of a state agency sued by a bankrupt estate for breach of contract and defamation.
Representation of the principal commodity trading partner of Chapter 11 debtor with several billion dollars in debts.
Representation of trustee in bankruptcy in multi-billion dollar Chapter 7 case.
Representation of a national chain of medical clinics facing regulatory matters.
Representation of directors in disputes concerning corporate governance.
Representation of an unsecured creditor’s committee of airline reorganizing in Chapter 11.
Representation of an unsecured creditor’s committee of printing equipment producer in Chapter 11.
Representation of a principal partner of a Midwestern real estate venture restructuring debts exceeding $3 billion.
Representation of various banks and insurance companies with financially troubled borrowers.
Representation of a company in a Midwestern telecommunications business suing to invalidate a $50 million leveraged buy-out.
Representation of a leveraged lessor of approximately $100 million in hotels to a national hotel chain reorganizing under Chapter 11.
Representation of an unsecured creditors committee of Midwestern metal stamping manufacturer restructuring under Chapter 11.
Representation of an institutional landlord of approximately 30 properties to a Southwestern retailer restructuring debt under Chapter 11.
Representation of a trustee in bankruptcy of Midwestern publicly held limited partnerships with hotels undergoing Chapter 11 reorganization.
Representation of a purchaser of all operating assets of a Midwestern manufacturer of automotive parts undergoing Chapter 11 reorganization.
Representation of a group of creditors with multimillion-dollar claims against the bankruptcy estate of one of the country's largest "Ponzi schemes."
Representation of a producer of the operations of a leather belt manufacturer reorganizing under Chapter 11.
Representation of a defendant in asbestos-related litigation relating to a bankruptcy case.
Representation of a foreign bank seizing the bankruptcy estate of a locomotive manufacturer for improper liquidation of its collateral.
Co-chair, Insolvency Section, International Bar Association, 2016-present
Fellow, American College of Bankruptcy and the American Bar Foundation; Chair of Education Committee, 2015-present
Member, Business Bankruptcy Committee, 1984-2016; Chair, Subcommittee on Use and Disposition of Property, 1993-1998; Delegate, United Nations Commission on Model Insolvency Law, American Bar Association
Member, Insolvency and Restructuring Section, 1990-2016, Co-Chair, 2017; Senior Chair of Programs, International Bar Association, 2015-2017
Member, American Bankruptcy Institute, 1986-2016
Member, Former Section Counsel, Commercial, Banking, and Bankruptcy Law, Illinois State Bar Association 1984-1987
Trustee, Private Panel Maintained by Region 11 of the Office of the U.S. Trustee
Member, Board of Directors, Illinois Farm Legal Assistance Foundation, 1986-1988
Fellow, International Insolvency Institute
Fellow, American College of Bankruptcy (Regent for the 7th Circuit, 2001-2006; Chairman of Education Committee, 2015 - 2016 )
Selected for inclusion in The Best Lawyers in America, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Woodward/White, Inc., 2018-2019
Named to "Illinois Super Lawyers," Bankruptcy & Creditor/Debtor Rights, Banking, Business Litigation, Super Lawyers, Thomson Reuters, 2005-2017
Named as a "Leading Lawyer," Bankruptcy & Workout Law: Commercial, Leading Lawyers Network Magazine, Law Bulletin Publishing, 2012-2016