Joel I. Sher heads the Firm’s financial restructuring and bankruptcy practice. He represents debtors, creditors, and creditors’ committees in Chapter 11 bankruptcy cases and counsels clients in complex out-of-court workouts. Described in Chambers as “knowledgeable as anyone you would ever meet” and “an aggressive and very experienced” litigator, Mr. Sher has successfully represented clients in numerous high- stakes cases in courts throughout the United States.
Mr. Sher’s experience in representing debtors and creditors in bankruptcy and restructuring matters has covered a wide array of industries including: mortgage REITS, financial services; health care; real estate development; construction management; specialty retail; governmental contracting; manufacturing; and telecommunications. He has also represented numerous clients in the sale and acquisition of distressed assets. As a known and experienced negotiator, Mr. Sher is often retained to negotiate resolutions to complex commercial disputes.
Mr. Sher’s appointments as an operating trustee and liquidating agent for a number of operating businesses include: a government contractor for the Department of Homeland Security and FEMA; a developer and owner of real estate and business interests in the United States, Australia, Spain and the Netherlands; a national bottling company; and a variety of operating food and hospitality businesses. Mr. Sher currently serves as the Chapter 11 Trustee in the reorganization of TMST, Inc. (formerly known as Thornburg Mortgage, Inc.), a multi- billion dollar REIT which was one of the nation's largest residential mortgage originator, servicer and investor.
Notable Representations Have Included the Following
- Counsel to Combined Properties, a Washington, D.C. real estate firm with a diversified portfolio of shopping centers, in its successful Chapter 11 bankruptcy reorganization arising from disputes with the Haft family;
- Counsel to a beneficiary of the trust at issue in the Dauman v. Sumner Redstone litigation concerning the Redstone family holdings in CBS and Viacom;
- Counsel to Novation Companies, Inc., f/k/a NovaStar Financial, Inc. in its ongoing Chapter 11 reorganization;
- Lead Counsel in the litigation brought against the Royal Bank of Canada arising out of the Thornburg Mortgage case concerning the liquidation of mortgage backed securities, resulting in a $30.1 Million settlement payment to the Thornburg estate;
- Counsel to Fieldstone Mortgage Company, a mortgage originator that emerged as an operating entity from its Chapter 11 bankruptcy case;
- Counsel to Luminent Mortgage Capital, Inc., a mortgage investor in its successful Chapter 11 case;
- Counsel to the Bankruptcy Trustee in the case of Merry-Go-Round Enterprises, Inc., a 1400-store national retail chain;
- Counsel to the Bankruptcy Trustee in the case of Just For Feet, Inc., a 300-store national retail chain;
- Counsel to Pharmakinetics, a generic drug testing company in its successful Chapter 11 reorganization;
- Counsel to the Bond Holders Committee in the case of National Energy & Gas Transmission, a merchant energy producer and subsidiary of PG&E;
- Counsel to the Creditors Committee in Sunterra Corporation, one of the world's largest timeshare companies;
- Counsel to the Creditors Committee in Frank's Nursery and Crafts, Inc., a retail nursery and garden store chain;
- Counsel to the Creditors Committee in PhyAmerica Physicians Group, Inc., a national physician practice management company;
- Counsel to the Creditors Committee in Railworks Corporation, a supplier to and servicer of the railroad industry;
- Counsel to a regional developer and home builder in its successful Chapter 11 reorganization; and
- Counsels to investors in their acquisition of distressed assets in various retail bankruptcy cases.
- Member, Past Chair, Baltimore Chapter of the Bankruptcy Bar Association of Maryland
- Member, Maryland State Bar Association
- Member, Baltimore City Bar Association
- Member, Baltimore County Bar Association
- Member, Association for Commercial Finance Attorneys
- Member, American Bankruptcy Institute
- Member, Commercial Law League of America
News & Publications
Eleven Shapiro Sher attorneys are cited in Maryland Super Lawyers 2016
Chambers USA names Shapiro Sher Guinot & Sandler among the leading firms in Maryland.
Fourteen Shapiro Sher Guinot & Sandler are cited in Maryland Super Lawyers 2015, including one attorney listed as a Top 10 Maryland lawyer, two listed in the Top 100, and four “Rising Stars.”
Barclays Capital, Inc., offers to pay $23 million to settle claims brought by Joel I. Sher, the court-appointed trustee overseeing the liquidation of TMST, Inc., formerly known as Thornburg Mortgage.