Richard M. Goldberg concentrates in bankruptcy, creditors' rights, workouts and commercial litigation. He has achieved favorable results for debtors, creditors’ committees and trustees in numerous large corporate reorganizations, Chapter 11 and Chapter 7 proceedings and complex multi-party, out-of-court workouts. Mr. Goldberg has considerable experience representing financial institutions, developers, retail chains, home builders, commercial landlords, specialty lending institutions, trustees, insurance companies and government agencies in all aspects of Chapter 11 reorganization cases, Chapter 11 liquidations and large Chapter 7 liquidations. He has also successfully represented numerous parties seeking to acquire assets from bankruptcy estates.
In addition to his experience in traditional bankruptcy areas and the significant litigation that arises within most bankruptcy cases, Mr. Goldberg represents parties in commercial litigation matters, including disputes regarding commercial disputes, commercial and real estate transactions and the Uniform Commercial Code, in state and federal trial and appellate courts.
Widely respected for the depth of his knowledge, he has been declared and has testified as an expert witness on commercial transactions, commercial litigation and the reasonableness of attorney fees in commercial litigation and transactions.
Chambers USA and Best Lawyers in America name Mr. Goldberg among the leading bankruptcy and creditors' rights attorneys in the country.
- Mr. Goldberg is currently serving as lead bankruptcy counsel to his partner, Joel I . Sher, who is the court-appointed Trustee in the Chapter 11 bankruptcy cases of TMST, Inc. and its affiliates, formerly known as Thornburg Mortgage, Inc
- Mr. Goldberg currently represents the bankruptcy court appointed Chapter 11 Trustee in the Vincent L. Abell bankruptcy case. Mr. Goldberg, as lead bankruptcy counsel, has successfully recovered for creditors nearly $9 million to date. This bankruptcy case centers on the Trustee’s allegations that the debtor (along with related parties) has “continuingly concealed” his assets from creditors by a series of interrelated schemes. This case has been extraordinarily litigious resulting in innumerable trials in front of the bankruptcy court, appeals to the United States District Court and 4th Circuit Court of Appeals (each of which Mr. Goldberg has prosecuted successfully), and numerous matters in front of courts and regulatory agencies in Washington D.C.
- Mr. Goldberg represents the bankruptcy court appointed Chapter 7 Trustee in the ExpoEmart, LLC bankruptcy case, a case that concerns a failed ethnic grocery store in the Washington D.C. suburbs. To date, Mr. Goldberg successfully negotiated a sale of the grocery store to a new operator for $500,000, and simultaneously resolved in excess of $1.5 million of claims against the bankruptcy estate held in favor of Safeway, Inc.
- Mr. Goldberg represents one of the largest developers/ business owners on the eastern shore of Maryland in an out-of-court workout involving approximately $50 Million in several layers of debt and with several lenders.
- Mr. Goldberg represents a party in a significant litigation dispute concerning a real estate development financed in part pursuant to a complex Historic Tax Credit program.
- In past significant mortgage company related matters, Mr. Goldberg successfully represented Fieldstone Mortgage Company, obtaining approval of its Chapter 11 plan. The client became one of the only mortgage lenders to survive bankruptcy proceedings in the wake of the real estate credit crisis.
- Mr. Goldberg has served as regular bankruptcy counsel to GEICO, handling bankruptcy-related matters in which the insurer is involved, including disputes with debtors under various contractual agreements.
- As counsel to the unsecured creditors committee in the Chapter 11 case of PhyAmerica Physician Group, Inc., a physician practice management company, Mr. Goldberg and the Shapiro Sher bankruptcy team engineered a hostile takeover of the debtor companies that resulted in a payout of 75 percent of the creditors’ claims, an unusually favorable outcome for unsecured creditors.
- Mr. Goldberg represented the Chapter 11 trustee in a series of complex bankruptccases concerning several related satellite companies owned by an individual under indictment for violation of federal statutes. Mr. Goldberg’s client prevailed in every contested matter, including three appellate decisions.
- Deeply experienced in the real estate industry, specifically in connection with bankruptcy matters, Mr. Goldberg has represented Ryland Homes, Elm Street Development, home builder Caruso Homes, Inc. (in its Chapter 11 case), the Chapter 7 Trustee of Regency Homes Corporation and 12 subsidiaries in the liquidation of the companies, and numerous other developers and purchasers of raw, developed and fully completed commercial and residential real estate projects. Of note, Regency Homes had been one of the largest homebuilders in Maryland and Virginia. Upon filing, Regency had more than $50 million in claims against it, including approximately $35 million in secured debt. Mr. Goldberg negotiated and consummated several sales of Regency Homes’ assets that resulted in the reduction of secured and unsecured claims of approximately $35 million.
- In past “continuing concealment” bankruptcy matters, Mr. Goldberg engineered a $1.53million settlement between a Baltimore landlord and ground rent owner, and the trustee in that individual’s bankruptcy case. In this matter, Mr. Goldberg served as counsel to an attorney representing numerous plaintiffs who had brought and obtained multi-million dollar lead paint claims against the landlord.
- Mr. Goldberg has extensive experience representing clients in cases that involvegovernment contracting. He represented the Chapter 7 Trustee in the bankruptcy of Information Networks, Inc. (d/b/a Infonetics), a minority contractor that provided technology services to several federal agencies.
- Mr. Goldberg has served as bankruptcy counsel to the U.S. Small Business Administration in connection with failed Small Business Investment Companies in which the SBA made debt or equity investments pursuant to the Small Business Investment Act. For the SBA, he has successfully navigated disputes involving several franchisees of prominent national restaurant and retail chains, such as Popeyes Chicken, Friendly’s Ice Cream, and Party Land. These disputes have focused on the value and ownership of the equity interests and the respective rights of the debt and equity players.
- Member, American Bar Association
- Past President and Board Member, Bankruptcy Bar Association for the District of Maryland; Past Chair and Vice Chair of the Baltimore Division of the Bankruptcy Bar Association.
- Member, Bar Association of Baltimore City
- Member, District of Columbia Bar Association
- Member, Turnaround Management Association
- Member, American Bankruptcy Institute
- Board Member, JDRF - Greater Chesapeake and Potomac Chapter
- Avid backcountry skier; has completed several Heli and CAT backcountry ski trips in Utah, British Columbia, and other destinations;
- Avid runner, having completed countless road races and charitable races;
- Avid rock climber
- Significant cycling racing history in the Masters category (Cyclocross and Road Racing); former member of C3 Amateur Cycling Team
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.”
Chambers USA has cited Shapiro Sher Guinot & Sandler among the leading firms in Maryland.
The new Maryland Super Lawyers list, just published by Thomson Reuters, names nearly all of the Firm's attorneys, including four lawyers identified as “Rising Stars” of the legal community.
Nine Shapiro Sher attorneys are listed in The Best Lawyers in America® 2014 rankings.