David A. Abadir
Associate
Phone: (808) 524-1800
Fax: (808) 524-4591
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David Abadir has represented debtors, creditors' committees and other creditor constituencies through all aspects of bankruptcy proceedings, from pre-case counseling through claims litigation and settlement negotiations.
Recent Representative Cases
- Represented the creditors’ committee in the orderly chapter 11 liquidation of Circuit City Stores, Inc.
- Represented the creditors’ committee in the chapter 11 reorganization of Flying J Inc., a fully-integrated oil refining, transportation, and retailing company. The M&A Advisor awarded the case the “Large Market Turnaround of the Year” award in 2011. Flying J exited bankruptcy fully repaying $1.4 billion owed to its creditors and keeping its equity intact.
- Represented the debtors in the chapter 11 cases of Mesa Air Group, a regional airline that operates Hawai‘i airlines Mokulele and go! The debtors emerged from bankruptcy in 2011 after eliminating costly excess aircraft leases. Under the reorganization plan, all secured claims were paid in full, $20 million in notes were reissued, and $2.3 billion in unsecured claims were converted to stock.
- Represented the creditors’ committee in the reorganization of Freedom Communications, owner of The Orange County Register in California. As a result of actions taken by the creditors’ committee in this “pre-planned” chapter 11 case, the debtors and their lenders radically amended their original plan to greatly enhance unsecured creditors’ recoveries. Under the consensual plan approved by the court, certain creditors were paid in full, and the obligations of holders of unqualified pension claims were reinstated at 70% of their claimed amount. The remainder of the unsecured creditors shared a pot of $14.5 million in cash and retained the right to assert claims against directors and officers.
- Represented the creditors’ committee in the chapter 22 liquidation (second chapter 11 filing) of Movie Gallery / Hollywood Video, the nation's second largest video retailer.
- Represented the creditors’ committee in the chapter 11 case of Trans Continental Airlines and disgraced music promoter Louis J. Pearlman. Working cooperatively with the chapter 11 trustee, the committee endeavored to uncover assets and enhance recoveries for creditors who were the victims of a Ponzi scheme estimated to have involved over $400 million in assets.
- Represented the debtors in the chapter 11 cases of Aegis Mortgage Company, Rhodes Homes, Luna Innovations, Point Blank Solutions, Latham International, and Le-Nature’s (Chapter 11 Trustee representation).
Practice Areas
Bankruptcy/Creditor's Rights
Commercial Litigation
Bankruptcy and Corporate Restructuring
- Acquisition of distressed businesses
- Bankruptcy counseling and litigation
- Creditor's rights
- Fraudulent transfers
- Preferences
- Turnaround consulting
Commercial Litigation
- Banking and lender liability
- Business disputes
- Business torts (fraud) and contract disputes
- Commercial debt collection
- Derivative litigation (corporations and partnerships)
- Fraudulent conveyance
- Lease disputes
- Partnership and shareholder disputes
- Real property sales contract disputes
- Uniform Commercial Code
Admitted to Practice
- New York
- U.S. District Court for the Southern District of New York
- Hawai'i
- Massachusetts (inactive)
Affiliations
- New York State Bar Association
- American Bar Association
- Hawai'i Bankruptcy Bar Association
Publications
- Co-author, Norton's 2008 Second Circuit Review, Norton Bankruptcy Law Advisor (2008)
- Co-author, Wyeth v. Levine in Light of Vioxx Litigation, Products Liability Law360 (Nov. 2008)
Education
- Georgetown University Law Center (J.D., May 2007)
- Princeton University (AB, Political Science, Certificate in Economics, June 2001)
Past Positions
- Pachulski Stang Ziehl & Jones LLP,
- Brown Rudnick LLP, Associate (2007-2008)
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