Irving H. Picard

Irving H. Picard focuses his practice primarily on bankruptcy reorganization cases and out-of-court restructurings. Mr. Picard’s extensive litigation experience includes investigating the financial affairs of debtors and seeking to recover property. His practice is also focused on issues pertaining to substantive consolidation, preference and fraudulent transfers. Mr. Picard has counseled clients on transactional matters, such as the acquisitions of assets from debtors, non-substantive consolidation and true sale opinions. He also advises on bankruptcy remote entities.

Mr. Picard has served as a court-appointed SIPA Trustee under the Securities Investor Protection Act (SIPA) in more than 10 securities brokerage house liquidations since 1984. He is currently the court-appointed SIPA Trustee in the liquidation of Bernard L. Madoff Investment Securities LLC. Prior trusteeships under the SIPA include Jay W. Kaufmann & Company, Norbay Securities, Inc., Investors Center Inc., and Faitos & Co., Inc. Mr. Picard has also served as counsel to trustees under SIPA, counsel for Chapter 11 creditors’ committees, and as a receiver and a disbursing agent.

Mr. Picard’s bar admissions include New York; Massachusetts; U.S. Court of Appeals, First Circuit; U.S. Court of Appeals, Second Circuit; U.S. Court of Appeals, Fourth Circuit; U.S. Court of Appeals, Seventh Circuit; U.S. Court of Appeals, Ninth Circuit; U.S. Court of Appeals, Tenth Circuit; U.S. District Court, Northern District of New York; U.S. District Court, Southern District of New York; U.S. District Court, Eastern District of New York; and the U.S. District Court, District of Massachusetts.

He is a member of the New York and American Bar Associations (ABA Business Law and Business Bankruptcy Committee), the American Bankruptcy Institute, the Federal Bar Council, the Registry of Mediators for the United States Bankruptcy Court (SDNY), and the Turnaround Management Association. He is an associate member of the National Association of Bankruptcy Trustees and the Association of Insolvency and Restructuring Advisors.