Attorneys

Joel I. Sher is chairman of the Firm and heads its bankruptcy and financial restructuring practice. He concentrates in corporate reorganization, creditors’ rights and bankruptcy litigation. He represents debtors, creditors, and creditors’ committees in Chapter 11 bankruptcy cases and counsels clients in complex out-of-court workouts. He also is an experienced commercial litigator and has represented clients in federal and state courts throughout the United States.

Mr. Sher has extensive experience in bankruptcy and restructurings in a wide range of industries, including financial services, real estate development, construction management, health care, specialty retailing, governmental contracting, manufacturing and telecommunications. Mr. Sher has been involved in numerous complex bankruptcy cases throughout his career. These matters include his representation of the Combined Properties, a Washington D.C. based real estate portfolio, in its successful Chapter 11 bankruptcy cases which resulted from disputes among the Haft family. Mr. Sher has also served as counsel to a number of Chapter 7 Trustees, including in the cases of Merry-Go-Round Enterprises, Inc., a 1400-store national retail chain, Just For Feet, Inc., a 300-store national retail chain and Regency Homes, a regional real estate developer.

Mr. Sher’s experience includes representation of numerous businesses that have successfully reorganized under chapter 11, including financial service companies, real estate developers and general contractors, health care providers, publicly traded companies, restaurants and specialty retailers. Mr. Sher recently represented a regional developer and home builder in its successful Chapter 11 reorganization. He also served as counsel to Fieldstone Mortgage Company, a nationwide mortgage originator that emerged as an operating entity from its Chapter 11 bankruptcy case, as well as Luminent Mortgage Capital, Inc. in its successful Chapter 11 case. Recent engagements have also included his representation of a substantial creditor in the restructuring of National Amusements, Inc. Mr. Sher has acted as plan administrator and liquidating agent with respect to the management and disposition of an array of privately owned real estate and business interests in the United States, Australia, Spain, and the Netherlands. He has also been appointed as operating trustee/liquidating agent for a variety of businesses, including a national bottling company, numerous retail establishments, and real estate enterprises. Recently, Mr. Sher, in his capacity as a court appointed Chapter 11 Trustee, successfully reorganized a governmental services business with over 1100 employees nationwide and annual revenues in excess of $55 million.

Mr. Sher has served as counsel to the creditors’ committees in various cases including: Frank’s Nursery and Crafts, Inc., a retail nursery and garden store chain; Sunterra Corporation, one of the world’s largest timeshare companies; Railworks Corporation, a national supplier to and servicer of the railroad industry; PhyAmerica Physician Group, Inc., a national physician practice management company and Creditrust Corporation, a collector and manager of defaulted consumer receivables.

News & Publications

February 5, 2010: "Thornburg Seeks to Sell $11 Billion Portfolio." The Dow Jones Daily Bankruptcy Review quotes Joel I. Sher, court-appointed trustee to Thornburg Mortgage Inc., in a report on the bankrupt lender's Chapter 11 case.

November 9, 2009: "Thornburg Bankruptcy Hits Bumps." The Albuquerque Journal, in a column about the bankruptcy of Thornburg Mortgage Inc., reports that "what once was arguably Santa Fe's premier business is being run" by Joel I. Sher, who was appointed Chapter 11 trustee in the case by U.S. Bankruptcy Judge Duncan Keir in Baltimore.

October 30, 2009: "Thornburg Mortgage Gets Maryland Lawyer Sher as Trustee." Reuters reports that Joel I. Sher has been appointed Chapter 11 trustee to oversee the liquidation of the former Thornburg Mortgage Inc.

September 14, 2009: Caruso Homes to Emerge from Bankruptcy Protection. The Baltimore Business Journal, Builder's Magazine and CityBizList report on the homebuilder's successful Chapter 11 reorganization, citing Joel I. Sher as debtor's counsel. In Court, the Judge complimented the Caruso legal team saying: "This case is an example of how the bankruptcy code should work."

June 30, 2009: Selected for the 2010 edition of Best Lawyers in America, a highly respected peer-review publication serving the legal profession.

September 9, 2008: The Deal cites Mr. Sher as debtor co-counsel in the Chapter 11 case of Luminent Mortgage Capital Inc., a Philadelphia-based REIT.

September 8, 2008: Mr. Sher is selected for inclusion in the 2009 edition of The Best Lawyers in America.

July 11, 2008: "Fieldstone Bankruptcy Plan OK'd by Judge." SSG&S represents Fieldstone Mortgage as the company wins approval of its Chapter 11 plan and becomes "one of few subprime lenders to survive bankruptcy since the credit crisis began," reports The Baltimore Sun.

Caruso Homes, Inc. files for Chapter 11 relief. June 24, 2008. Reporting on the Maryland homebuilder's bankruptcy, The Baltimore Examiner quotes Joel I. Sher, debtor's counsel in the case.

Joel I. Sher named in "Super Lawyers" list of the top 50 attorneys in the state of Maryland. The list was published in the January 2008 issue of Baltmore Magazine and in Maryland Super Lawyers Magazine.

May 17, 2008: "'Massive fraud' nets plea of guilty." The Baltimore Sun reports that entrepreneur Alan B. Fabian has pled guilty to a multi-year fraud scheme. The story quotes Joel I. Sher, attorney to the trustee of Fabian's bankrupt Strategic Partners International, Inc.

November 27, 2007: "Maryland Subprime Lender Files for Chapter 11." The Baltimore Sun quotes Joel I. Sher, debtor's counsel to Fieldstone Mortgage Company. Coverage also appeared in The Deal's Bankruptcy Insider, The Washington Post, and The Daily Record. 

February 21, 2006: "$150 Million Settlement Doesn't Stop Physician Exec." The Daily Business Review of Broward County, Florida, reports on the settlement in the PhyAmerica Chapter 11 case, in which Joel I. Sher represented the unsecured creditors committee.

February 9, 2006: "Doctor Settles Claims for $150 Million." The Miami Herald reports on the settlement in the PhyAmerica Chapter 11 case.

"The Bankruptcy Abuse and Consumer Protection Act and Chapter 11." By Joel I. Sher and Paul Mark Sandler, for The Daily Record, November 4, 2005.

"The Bankruptcy Abuse and Consumer Protection Act's Impact on Consumer Debtors." By Joel I. Sher and Paul Mark Sandler, for The Daily Record, October 28, 2005.

In the August 2005 issue of Baltimore SmartCEO Magazine, Joel I. Sher is named among 40 other attorneys in a feature highlighting Maryland's "Legal Elite."

"Brush Up On Your Bankruptcy", a series of articles on bankruptcy basics by Joel I. Sher and Paul Mark Sandler, for The Daily Record:

• Part I: Common misconceptions about bankruptcy.
• Part II: Bankruptcy and discharges.
• Part III: When claims may not be discharged.
• Part IV: Bankruptcy exemptions.