Irving Picard focuses his practice primarily on representing unsecured and secured creditors, commercial landlords, bankruptcy trustees, and other parties in interest in bankruptcy reorganization cases, as well as in out-of-court restructurings. He also serves as a court-appointed trustee in securities brokerage house liquidations under the Securities Investor Protection Act (SIPA). In this capacity, Irving currently serves as the court-appointed trustee under SIPA for the global representation of the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), one of the largest financial frauds in U.S. history. As of December 2013, the SIPA Trustee and his legal teams have recovered or entered into agreement to recover over $9.5 billion and distributed more than $4.883 billion to BLMIS customers with allowed claims. Combined with approximately $811 million in cash advances from SIPC to speed some financial relief BLMIS customers with allowed claims, more than $5.5 billion has been returned to victims. (For more information on the liquidation, visit www.madofftrustee.com.)
Since 2011, he has acted as the coordinator for the New York Bankruptcy practice group and as Co-Chair for the Publications and Media subcommittee for BakerHostetler’s national Bankruptcy practice. Irving is ranked in the 2013 edition of Chambers USA: America’s Leading Lawyers for Business and is listed in The Best Lawyers in America© in Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law.