New Washington, D.C., partner Chris Giaimo was profiled in the February 19, 2010, Legal Times blog post, "Baker Hostetler Picks Up New Bankruptcy Lawyer."
In the article, Giaimo said he made the switch because of the opportunity Baker Hostetler provides to expand his national client base and the firm's increasing presence, including serving as counsel to the court-appointed trustee in the liquidation of Bernard L. Madoff Investment Securities LLC.
Giaimo, who was previously with Arent Fox, said his work has not changed much from his work there, where he had been for the past 10 years. But the troubles he sees have changed significantly during the financial crisis, he said. While in the past many of the companies he advised through the Chapter 11 bankruptcy process failed because of fraud or poor management, many of his current cases involve victims of the more restrictive credit market.
Giaimo said the bankruptcy process these days more often involves quickly dumping large groups of assets, as opposed to the traditional reorganization procedure of looking for inefficiencies. "It's cheaper than the old five-year processes of Enron and Adelphia," Giaimo said.