People default image

Scott Shelley

Of Counsel
About

Scott Shelley focuses his practice on financial restructuring.  He has more than 25-years' experience representing distressed companies, financial institutions, creditors' committees and other stakeholders in complex chapter 11 proceedings and out-of-court restructurings.

His practice involves all aspects of financial restructuring, including distressed asset sales, DIP financing/cash collateral, chapter 11 plan formulation, liquidating trust agreements, UCC sales, assignments for the benefit of creditors and bankruptcy litigation.

Scott also has significant experience representing foreign representatives and liquidators in cross-border insolvency proceedings (including chapter 15 bankruptcy cases) and US-based litigation.  He uses his breadth of experience to help clients structure transactions to minimize risks associated with insolvency.

Areas of FocusFinanceRestructuring
Bar admissionsNew YorkConnecticutNew Jersey

EXPERIENCE

Notable representations:
  • Advised international property management company in connection with bridge loan and distressed asset sale
  • Represented senior secured creditor in connection with private sale of the intellectual property and customer-related assets of Jenny Craig weight-loss centers in chapter 7 bankruptcy proceeding
  • Represented Compute North (manufacturer of Bitcoin mining facilities) as debtor-in-possession in connection with its chapter 11 bankruptcy case
  • Represented secured creditor in connection with partial strict foreclosure of residual assets of oil and gas field services company
  • Advised agent for secured lenders in connection with work-out negotiations and sale of debt of Partners Pharmacy
  • Represented Cypress Environmental (pipeline inspection company) as debtor-in-possession in connection with its prepackaged chapter 11 bankruptcy
  • Represented financial institution in connection with its post-chapter 11 wind down and dissolution of corporate entities
  • Provided bankruptcy and insolvency advice to major financial institution to assist in structuring >$500 million international loan transaction involving synthetic share pledge over cruise line company
  • Advised secured creditor in connection with assignment for the benefit of creditors and liquidation of assets of regional trucking company, including defending against an involuntary bankruptcy filing
  • Represented secured lender in connection with chapter 11 acquisition of Ruby Tuesday restaurant chain
  • Represented Cred Inc. (Bitcoin exchange) as debtor-in-possession in its chapter 11 bankruptcy
  • Represented Cinemex dine-in movie theater chain as debtor-in-possession in its chapter 11 reorganization
  • Represented joint liquidators of Kingate (BVI Madoff feeder fund) in connection with U.S. litigation issues and chapter 11 filing in SDNY
  • Represented Avianca Brazil airline in its chapter 15 bankruptcy proceedings in SDNY
  • Advised major Brazilian construction and engineering company in connection with various out-of-court restructuring matters, including complex forbearance agreement related to $600 million term loan

Certain of the above matters were handled by Scott prior to joining DLA Piper LLP (US).

Education
  • J.D., Seton Hall University
  • B.A., Middlebury College

Pro Bono

Scott has served as Legal Counsel to a 501(c)(7) not-for-profit social organization since 2015.  Other pro bono engagements include:

  • Represented a member of Afghan Female Tactical Platoon in connection with U.S.
    asylum application
  • Assisted a legal services organization in compiling a manual concerning amicus curiae filing requirements in various states, to assist pro se litigants
  • Through legal services organizations, assisted artists and musicians with a variety of legal matters and assisted indigent clients in obtaining uncontested divorces

Publications

  • Co-Author, "Delaware District Court Sheds Light on Standards for Dismissal of Chapter 11 Case Based on Bad Faith," Pratt's Journal of Bankruptcy Law, November-December 2024
  • Co-Author, "Mercon Coffee Ch. 11 Ruling Shows Insider Releases' Limits," Law360, August 12, 2024
  • "Understanding Exculpation in Chapter 11," Pratt's Journal of Bankruptcy Law, September 2023
  • "What's Done Is Done: Bankruptcy Court Rejects Attempt to Reopen Chapter 11 Case to Reallocate Value – In re NorthEast Gas Generation, LLC," (Bankr. D Del.), International Corporate Rescue, May 2022
  • "Second Circuit Rejects Willful Blindness Standard in Madoff Fraudulent Conveyance Litigation: In re Bernard L. Madoff Securities LLC," 2021 WL 3854761 (2d Cir), International Corporate Rescue, December 2021
  • "Third Circuit Affirms Rule Against Triangular Setoff In Bankruptcy," International Corporate Rescue, May 2021
  • "Chapter 15 Court Balances Competing Comity Concerns and Grants Conditional Approval of Croatian Restructuring Plan," (In re Agrokor, 2018 WL 5298403 (Bankr. SDNY)), International Corporate Rescue, January 2019 
  • "Innovative Use of Chapter 15 of US Bankruptcy Code Helps Brazilian Debtors Reorganise," (In re Oi, S.A., 587 BR 253 (Bankr. SDNY)), International Corporate Rescue, December 2018
  • "Move It On Over: Intentional Prepetition COMI Shift Does Not Preclude Chapter 15 Recognition," (In re Ocean Rig UDW Inc., 570 B.R. 687 (Bankr. S.D.N.Y. 2017)), International Corporate Rescue, February 2018
  • "Bankruptcy Court Rejects Extraterritorial Application of U.S. Avoidance Statute," (Ampal-American Israel Corp. v. Goldfarb Seligman & Co. (In re Ampal-American Israel Corp.), 562 B.R. 601 (Bankr. S.D.N.Y. 2017)), International Corporate Rescue, August 2017
  • "Bankruptcy Court Sale Order Not Binding on Ignition Switch Claimants Who Did Not Receive Proper Notice – In the Matter of: Motors Liquidation Company," 2016 WL 3766237, International Corporate Rescue, November 2016
  • "Professional Fees Incurred Defending Fee Applications Not Compensable Under US Bankruptcy Code – Baker Botts L.L.P. v. Asarco, LLC, " 135 S.Ct. 2158 (2015), International Corporate Rescue, January 2016
  • "Second Circuit Constrains Doctrine of Comity: Krys v Farnum Place, LLC," (In re Fairfield Sentry Limited), 768 F.3d 239 (2d Cir. 2014), International Corporate Rescue, November 2015

Clerk Experience

After law school, Scott clerked for the Hon. Robert L. Krechevsky, Chief Judge of the U.S. Bankruptcy Court for the District of Connecticut, as well as the Hon. Geoffrey Gaulkin, Presiding Judge of the New Jersey Appellate Division.

Connect