In the News: 
A Bad Time to Enfeeble Free and Clear Bankruptcy Sales: Valid Out-of-the-Money Liens Can’t Be Stripped Away Says One
Appellate Court; Buyers and Sellers May Need to Adapt
October 22, 2008

New York
212.537.0402 
610.371.1222 fax
apo@stevenslee.com

Alec concentrates his practice in bankruptcy, corporate reorganization, creditors’ rights and commercial litigation.

A prolific author and frequent speaker on bankruptcy-related topics, Alec presents to numerous associations, including the American Bar Association and the New York State Society of Certified Public Accountants, and has served as panelist for the American Bankruptcy Institute, the Judicial Conference of the Second Circuit and the National Association of Bankruptcy Trustees.

Alec is fluent in Spanish and French and is an adjunct professor for St. John’s University School of Law LL.M. Bankruptcy Program. He is a former recipient of the Philip F. Cohen Award for Meritorious Service.

As published in The New York Times, Alec has been recognized in 2008, 2007 and 2006 as a New York Super Lawyer, having been selected by his peers as being among the top 5 percent of lawyers in the state.

Education:
New York University School of Law, J.D., 1980
Dartmouth College, A.B. magna cum laude, 1977

Bar Admissions:
New York

Court Admissions:
U.S. District Court for the Southern District of New York
U.S. District Court for the Eastern District of New York
U.S. District Court for the Western District of New York
U.S. Court of Appeals for the Second Circuit

Representative Cases:

• Merrill Lynch Bus. Fin. Servs. Inc. v. American Reprographics Co. (In re Louis Frey Co.), 2006 WL 2090083 (Bankr. S.D.N.Y. July 28, 2006), aff'd sub nom. American Reprographics Co. v. Geron (In re Louis Frey Co.), 2007 WL 924206 (S.D.N.Y. Mar. 26, 2007).
• Publicker Indus. Inc. v. United States (In re Cuyahoga Equip. Corp.), 980 F. 2d 110 (2d Cir 1992).
• Fundex Capital Corp. v. Reichard, 172 A.D.2d 420, 568 N.Y.S.2d 794 (1st Dep't 1991).
• Dampskibsselskabet AF 1912 Aktieselskab v. Black & Geddes, Inc. (In re Black & Geddes, Inc.), 35 B.R. 830 (Bankr. S.D.N.Y. 1984).
• Rockland Center Associates v. TSW Stores of Nanuet, Inc., 34 B.R. 299 (Bankr. S.D.N.Y. 1983).

Selected Speaking Engagements:

• “Do Asset Protection Trusts Truly Protect the Debtor from the Claims of Creditors?” Panelist. American Bankruptcy Institute’s Tenth Annual New York City Bankruptcy Conference. New York City, N.Y. May 12, 2008.
• "A Failure of Proof? The Mortgage Industry at a Crossroads.” Moderator. Real Estate and Ethics Committees, American Bankruptcy Institute's 26th Annual Spring Meeting. Washington, D.C. April 5, 2008.
• “Opportunities for Buyers and Sellers in Sales of Distressed Assets.” Panelist. Distressed Real Estate Investing Summit. New York City, N.Y. February 21, 2008.
• “Distressed Real Estate: Current Topics in Foreclosures and Bankruptcy.” New York State Bar Association. New York City, New York. June 27, 2007.
• “Distressed Real Estate: Current Topics in Foreclosures and Bankruptcy.” New York State Bar Association. Tarrytown, N.Y. June 5, 2007.
• “Recent Developments in Bankruptcy Jurisdiction.” Moderator. American Bankruptcy Institute’s Ninth Annual New York City Bankruptcy Conference. New York City, N.Y. May 7, 2007.

Selected Publications:

• "The Equitable Claim in Bankruptcy, or What’s in a Claim: That Which We Call an Equitable Remedy?" Chapter 3. Contributing author. Norton Annual Survey of Bankruptcy Law. 2008 edition.

(copyright West Services, Inc.)

• “Surviving Life in the Chapter 11 Fishbowl.” Contributing author. Inside the Minds: Chapter 11 Bankruptcy and Restructuring Strategies. Aspatore Books. 2008.

• “We Don’t Need the Case Law to Turn the DIP’s Attorney into a Court Informant.” American Bankruptcy Institute Law Journal. Volume XXVII, No. 4/May 2008.
• “‘Kelo’ Condemnation and the Automatic Stay: Can a Debtor Fight City Hall?” Real Estate Committee, ABI Committee News. Volume 5, Number 1/February 2008.
• “Bankruptcy Business Sales Free and Clear of Antitrust Liability to Private Parties: A Proposal to Encourage Bidding from Competitors.” Co-author with Eugene V. Lipkowitz. 2007 Annual Survey of Bankruptcy Law 209.
• “Forfeiture of Office by Buying Estate Property: The Bankruptcy Crime and the Civil Punishment, Part II.” Commercial Fraud Task Force Committee, ABI Committee News. Volume 4, Number 2/May 2007.
• “Forfeiture of Office by Buying Estate Property: The Bankruptcy Crime and the Civil Punishment, Part I.” Commercial Fraud Task Force Committee, ABI Committee News. Volume 4, Number 2/April 2007.
• "The Res Judicata Effect of Impermissible but Unlitigated Provisions in Confirmed Plans" 2006 Annual Survey of Bankruptcy Law 55.
• “Introduction to the Bankruptcy Code.” Chapter 2. Contributing author. Bankruptcy Business Acquisitions. Second edition. 2006.
• “Regulatory Considerations: Sale of Assets in Regulated Industries.” Chapter 26. Contributing author. Bankruptcy Business Acquisitions. Second edition. 2006.
• "Airline Cases Ground Setoff Rights." Pratt's Journal of Bankruptcy Law. October/November, 2006.
• "There They Go Again! Another Modification of Lessee Rights in Bankruptcy With Questionable Notice." American Bankruptcy Institute Real Estate Committee Newsletter, November 2005.
• "Rethinking Recoupment: Are We Really Sure It's Not a Subset of Setoff?" Annual Survey of Bankruptcy Law 245, 2005.
• "The New De Minimis Preference Defense: Does It Really Mean What It's Supposed to Mean?" Pratt's Journal of Bankruptcy Law, Vol. 1, No. 3, August/September 2005.
• "My Lips Are Sealed: Sealing Files, Closing Courtrooms and in Camera Inspections in Bankruptcy Cases." Annual Survey of Bankruptcy Law 203, 2004.
• "Qualitech and Sales Free and Clear of Leesehold Interests: Bankruptcy Process and Due Process." NABTalk, Vol. 19, No. 4, P. 14, 2004.
• "Bankruptcy Adds New Vistas to Real Estate Landscape." Journal of Corporate Renewal, Vol. 17, No. 8, P. 16, August 2004.
• “The ‘Animal Farm’ of Administrative Insolvency.” 11 American Bankruptcy Institute Law Review 339, 2003.
• “Free and Clear of Successor Liability, or Whose Liability is it Anyway?” Annual Survey of Bankruptcy Law 119, 2003.
• “Bankruptcy and Redundant Representation, or How Many Bankruptcy Lawyers Does it Take to Change . . . a Debtor into a Debtor in Possession?” 11 Journal of Bankruptcy Law and Practice 227, 2002.
• “Jurisdiction and Substance in License Disputes with the FCC.” Richard N. Tilton's Business Bankruptcy Acquisitions, Lex. Med. Supp., 2002.
• “Insider Includes? Include Me Out.” 7 American Bankruptcy Institute Law Review 601, 1999.
• “The Involuntary Chapter 11 Case: Why Don't We Do It in the Gap?” No One Will Be Watching Us.” 5 Journal of Bankruptcy Law and Practice 63, 1995.
• “Constitutionality of Core Jurisdiction.” 68 American Bankruptcy Institute Law Journal 9, 1994.
• “Mutuality of Obligation for Executory Contracts.” New York Law Journal, Oct. 30, 1995. Co-author.

Professional Associations/Civic Affiliations:
American College of Bankruptcy, Fellow, Elected 2004
St. John's University School of Law, LL.M. in Bankruptcy Program, Adjunct Professor of Law
American Bankruptcy Institute, Real Estate Committee, Co-Chair, 2001-08
New York City Bar Association
New York State Bar Association
American Bar Association
New York County Lawyers Association