Albena Petrakov is a Principal and the Chair of the Creditors Rights, Reorganization and Bankruptcy practice group. Albena has extensive experience representing clients in restructuring, bankruptcy and commercial matters in both civil and common law jurisdictions. She has represented secured and unsecured lenders, landlords, suppliers, trustees and debtors in Chapter 11 and Chapter 7 bankruptcy cases in various industries including financial services, retail, hospitality, aircraft, manufacturing, energy and technology, to name only a few.
She has counseled creditors on maximizing their return on secured and unsecured claims, including protecting and realizing collateral, negotiating critical vendor agreements, acquiring assets from a bankruptcy estate, reducing the risk of lender liability claims, foreclosures and D&O insurance.
As a member of the firm’s International Group, Albena helps international clients pursuing foreign direct investment in the U.S., and U.S. clients expanding their operations and distribution into new markets.
- Represented banks and mortgage lenders in multimillion dollar indemnification proceedings brought by the Plan Administrator for Lehman Brothers Holdings, Inc in connection with alleged losses from RMBS securitizations and sales of loans to Fannie Mae and Freddie Mac.
- Advising clients on bankruptcy safe harbor and substantive non-consolidation opinions in connection with structured finance transactions.
- Represented creditors in the chapter 11 proceedings of Dewey & LeBeouf, Hawker Beechcraft, LightSquared, Inc., Westinghouse Electric Company, Sunedison Inc., Pacific Drilling Inc. Destination Maternity;
- Represented secured creditors in SARE reorganizations, asset buyers and other stakeholders in 363 sales, trade creditors in negotiating critical vendor agreements;
- Successfully negotiated resolution of an $18 million dollars fraudulent conveyance claim against a foreign investor;
- Successfully resolved a claim under the New York Freelance Isn’t Free Act against a start-up venture and its officers;
- Represented the SIPC trustee of Lehman Brothers Inc. Inc. in preference and fraudulent conveyance litigation against a major bank and contested matters involving setoff under ISDA swap agreements.
- New York Super Lawyers by Thomson Reuters, Rising Stars Edition, 2015-2019
- New York Institute of Credit, Virtual Credit Smorgasbord, International Panel, April 15, 2023
- Women In Leadership Roundtable, Offit Kurman, March 27, 2023, Moderator
- "Creative Exits; Why Bankruptcy is Not the Only Play," January 25, 2023; joint presentation with Eisner Amper, Moderator