Attorney Steven Mitnick
Steven Mitnick specializes in representing creditors and trustees in cases involving business insolvency, bankruptcy and liquidations. He also provides services in the areas of debt collection, assignments for benefit of creditors and receiverships.
In practice since 1981, he has:
- Served as a Chapter 11 trustee, receiver, special fiscal agent, and assignee for the benefit of creditors in hundreds of cases.
- Led more than 200 wind-down proceedings for wide-ranging corporate entities and businesses.
- Recovered millions of dollars for creditors in cases that involve Chapter 11 and Chapter 7 bankruptcies, assignments for the benefit of creditors, state court receiverships, and out-of-court settlements.
Before founding SM Law, Steven was the founding principal of Mitnick & Malzberg, P.C., a boutique law firm that he founded in 1986. Steven also serves as Secretary of SM Financial Services Corporation, which invests in and manages the purchases of financial assets from trustees and others, especially judgments, notes, mortgages and preferences; as well as supervises the wind-downs of all forms of corporate entities.
Steven is a sought-after lecturer on corporate liquidation topics, especially assignments for the benefit of creditors and state court receiverships, and he has authored related course materials.
Selected representative matters where Steven has served as counsel include:
- Component Technology – Served as Assignee for the Benefit of Creditors in the liquidation of a family-owned manufacturer of construction trusses. Millions of dollars were recovered and returned to creditors by liquidating the facility and commencing litigation to collect the accounts receivables and preferences.
- H. K. Buzby, Inc. – Served as Assignee for the Benefit of Creditors. After a successful auction sale and individual market sales of the Assignor’s real estate assets and litigation to collect the outstanding accounts receivables and preferences, millions of dollars were paid to the Secured Creditor.
- Quay Caterers and RMD Marina – Appointed as counsel to the Statutory Receiver pertaining to real estate and a marina in New Jersey. Orchestrated an auction sale of both the real estate and marina business. After dealing with issues pertaining to riparian rights and several challenging real estate issues, consummated the sale of assets which paid the first mortgage in full and made it possible to make significant payments to subordinate liens.
- Chain of Gas Stations – Served as Assignee for the Benefit of Creditors requiring the assignee to deal with a host of lease and assignment issues including negotiation with a series of landlords and a review of several bank transactions and agreements.
- Mental Health Care Facility – Served as Assignee for a New York-based health facility which required the liquidation of its real estate and other assets involving sales and abandonment issues.
- Furniture Retailer – Served as Assignee for a Delaware-based retailer involving the liquidation of inventory and conclusion of the business in the Chancery Court.
- DBSI Inc. – Represented the Trustee for this large Delaware bankruptcy case; prosecuting approximately 900 preference actions throughout the country including dealing with several out-of-state co-counsels.
- The Fleer Company – Represented the Assignee for this ABC matter; involving the liquidation of the legendary sports card company including over 100 preference actions against sports heroes and other individuals.