David J. Richardson

Partner

Los Angeles
T +1.310.442.8858
F +1.310.820.8859
San Francisco
T +1.415.659.2600
F +1.415.659.2601

Overview

David Richardson is a member of the firm’s national Bankruptcy and Restructuring and Litigation teams. He has more than 28 years of experience in restructuring and commercial litigation, with a focus on complex litigation in bankruptcy cases, and representation of committees of unsecured creditors in industries as diverse as energy, telecommunications, art sales, transportation, construction and consumer products.

Select Experience

  • Represented the Official Committee of Tort Claimants in the historic bankruptcy case of Pacific Gas & Electric (PG&E), on behalf of more than 75,000 victims of the 2017 and 2018 California wildfires, which resulted in a $13.5 billion settlement on behalf of wildfire victims, with a focus on litigation matters, plan confirmation and confirmation-related appeals.
  • Litigated fraud, breach of fiduciary duty, and 548/549 avoidance claims against a debtor’s principal for actions that included the post-petition diversion of more than $18 million of estate assets to a shell company created just prior to the petition date.
  • Part of the litigation team in 10-year litigation on behalf of the post-confirmation trust of a large utility/telecommunications company that resulted in the only insolvent utility/telecommunications bankruptcy to return to solvency, with over $100 million of litigation recoveries. The case involved three separate plaintiff’s suits against directors, officers, an investment firm, and a major law firm; defense of multiple creditor claims; and resulted in an asset pool that paid unsecured creditors and preferred shareholders in full, and paid a distribution to common stockholders.
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Experience

  • Represented the Official Committee of Tort Claimants in the historic bankruptcy case of Pacific Gas & Electric (PG&E), on behalf of more than 75,000 victims of the 2017 and 2018 California wildfires, which resulted in a $13.5 billion settlement on behalf of wildfire victims, with a focus on litigation matters, plan confirmation and confirmation-related appeals.
  • Litigated fraud, breach of fiduciary duty, and 548/549 avoidance claims against a debtor’s principal for actions that included the post-petition diversion of more than $18 million of estate assets to a shell company created just prior to the petition date.
  • Part of the litigation team in 10-year litigation on behalf of the post-confirmation trust of a large utility/telecommunications company that resulted in the only insolvent utility/telecommunications bankruptcy to return to solvency, with over $100 million of litigation recoveries. The case involved three separate plaintiff’s suits against directors, officers, an investment firm, and a major law firm; defense of multiple creditor claims; and resulted in an asset pool that paid unsecured creditors and preferred shareholders in full, and paid a distribution to common stockholders.
  • Served as debtor’s counsel for six related real estate development entities, and successfully reorganized the entities with payment of all creditors in full, with interest.
  • Represented committee of unsecured creditors, and then trustee, in extensive litigation against insiders concerning a bankruptcy court’s authority to recharacterize a transaction, subsequently leading the Ninth Circuit Court of Appeals to reverse published case law related to the matter.
  • Successfully voided a Cook Island trust in federal court on the grounds that it had been created to fraudulently shield assets from creditors.
  • Represented Official Committee of Unsecured Creditors in matter concerning the subprime housing crisis in 2007 to 2008, which was featured on the news program Dateline NBC, with a focus on insider litigation and plan confirmation.
  • Prevailed at trial in California Superior Court concerning rights of secured creditor in pledged stock.
  • Represented a major electronics manufacturer in the chapter 11 case of a vendor, involving the unraveling of a massive international fraud upon creditors by the debtor.
  • Represented Official Committee of Unsecured Creditors in restructuring of California home construction firm.
  • Represented Official Committee of Unsecured Creditors in restructuring of major retailer of beauty and personal care products.
  • Represented Official Committee of Unsecured Creditors in chapter 11 case of major manufacturer/distributor of health foods and related products.
  • Represented manufacturer of electronic components in chapter 11 case of major automobile manufacturer.
  • Represented major electronics manufacturer in chapter 11 case of national retail chain.

Recognitions and Memberships

Recognitions

  • The Best Lawyers in America®
    • California: Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (2022 to present)

Memberships

  • Financial Lawyers Conference
  • American Bankruptcy Institute
  • Los Angeles LGBTQ+ Bar Association: Board Member

Admissions

  • U.S. Court of Appeals, Ninth Circuit
  • U.S. District Court, Central District of California
  • U.S. District Court, Northern District of California
  • U.S. District Court, Eastern District of California
  • U.S. District Court, Southern District of California
  • U.S. District Court, Western District of California
  • California

Education

  • J.D., Stanford Law School, 1993
  • B.A., (Hons.), Queen's University (Ontario, Canada), 1986