Joseph M. Esmont

Partner

Cleveland

T +1.216.861.7835

F +1.216.696.0740

jesmont@bakerlaw.com

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Overview

Joe Esmont is a full-service bankruptcy and restructuring attorney, whose practice includes both plaintiff and defense-side litigation, restructuring and transactional work. Joe is particularly experienced in the energy and utilities industries, in cases of mass torts and fraud and in the impact of bankruptcy on environmental obligations.

Select Experience

Represented the Official Committee of Tort Claimants for Pacific Gas & Electric Company in the sixth-largest bankruptcy case filed in the U.S., in connection with a $60 billion restructuring which resulted in a settlement valued at $13.5 billion on behalf of victims of California wildfires.
Served on the leadership team representing the Ad Hoc Committee of Deed of Trust Holders in the bankruptcy of the Professionals Financial Investors, Inc. real estate Ponzi scheme. The representation resulted in the negotiation of a consensual plan of reorganization among investors with differing interests and the sale of California real property for over $400 million.
Represents Limetree Bay Refinery and its affiliates in connection with their Chapter 11 cases in the Southern District of Texas.

Represented the Official Committee of Tort Claimants for Pacific Gas & Electric Company in the sixth-largest bankruptcy case filed in the U.S., in connection with a $60 billion restructuring which resulted in a settlement valued at $13.5 billion on behalf of victims of California wildfires.
Served on the leadership team representing the Ad Hoc Committee of Deed of Trust Holders in the bankruptcy of the Professionals Financial Investors, Inc. real estate Ponzi scheme. The representation resulted in the negotiation of a consensual plan of reorganization among investors with differing interests and the sale of California real property for over $400 million.
Represents Limetree Bay Refinery and its affiliates in connection with their Chapter 11 cases in the Southern District of Texas.
Represented a private equity firm and related entities with respect to the workout or monetization of numerous investments across a variety of industries.
Obtained a judgment that clients were entitled to proceeds of multiple and very significant trust funds in complex inheritance dispute involving both personal and corporate bankruptcies.
Served as counsel and lead investigator for the bankruptcy trustee of a $200+ million Ponzi scheme that defrauded over 5,000 individuals and which involved significant fraudulent transfer and state law tort litigation against financial institutions and the liquidation of both difficult to monetize equity positions and luxury goods, including art and classic vehicles.
Represented a hospital system with respect to a HIPAA class action related to its procedures for filing bankruptcy proofs of claim.
As co-lead counsel, obtained successful dismissal of $50+ million fraudulent transfer suit against client, related to a transfer of privately traded stock.
Represented oil and gas offshore exploration and production company Black Elk Energy Offshore Operations in its Chapter 11 case in the Southern District of Texas.
Represented transportation companies and oil and gas service providers in their Chapter 11 cases in Minnesota.
Represented a Burger King franchisee in the successful acquisition of approximately a dozen new locations owner by a bankrupt firm.
Represented both buyers and sellers of Gulf of Mexico oil and gas assets, including both operating and working interests in both offshore and onshore assets in sales under Section 363 of the Bankruptcy Code.
Represented a buyer of oil and gas leases in seven-figure litigation relating to pre-closing an oil spill.
Represented a major coal mining firm in analyzing its remediation obligations under federal environmental laws while in bankruptcy.
Represented the bankruptcy trustee of an investment management firm accused of running a cherry-picking scheme in winding down its hedge funds and negotiations with the Securities and Exchange Commission.
Represented a private equity fund in investigating a $9 million alleged fraud by the predecessor management.
Successfully advised a large institutional charitable investor in resisting a threatened capital call by a failing real estate fund.
Represented the Federal Deposit Insurance Corp. in eight and nine figure litigation arising from the failure of two substantial Midwestern bank holding companies and their subsidiary banks.
Represented Irving H. Picard, the Securities Investor Protection Act Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, in connection with BakerHostetler’s role as court-appointed counsel to the Trustee.

Recognitions and Memberships

Recognitions

The M&A Advisor, Consumer Staples Deal of the Year (2018)
National Conference of Bankruptcy Judges: Next Generation (2017)
National Conference of Bankruptcy Judges
- Speaker on Successor Liabilities (2017)
- Moderator of Supreme Court Panel (2018)
Contributor to Collier on Bankruptcy and Lexis' Practical Guidance

Memberships

American Bar Association
Cleveland Metropolitan Bar Association
Association for Corporate Growth (Cleveland)
Turnaround Management Association
- TMA Global NextGen Committee: Chairman (former)
- TMA Ohio Chapter Nextgen Committee: Chairman (former)