Nicholas J. Cremona

Partner

New York
T +1.212.589.4682
F +1.212.589.4201

Overview

Nick Cremona has represented every type of constituent in a bankruptcy proceeding, including debtors, secured creditors, unsecured creditors, committees and fiduciaries in court proceedings as well as out-of-court restructurings. His practice focuses on bankruptcy litigation and debtors’ and creditors’ rights, and he has led hundreds of adversary proceedings as part of the firm’s representation of Irving H. Picard, the Securities Investor Protection Act trustee for the liquidation of Bernard L. Madoff Investment Securities in connection with Madoff’s Ponzi scheme. Nick has resolved a multitude of cases through mediation and settlement, resulting in hundreds of millions in recoveries for the victims of Madoff’s fraud. He has also successfully litigated numerous cases to judgment through motion practice and trial.

Experience

  • Is one of the leaders of the BakerHostetler team representing Irving H. Picard, the Securities Investor Protection Act trustee for the liquidation of Bernard L. Madoff Investment Securities LLC and the consolidated estate of Bernard L. Madoff, in connection with Madoff’s Ponzi scheme.
  • Secured judgment in favor of the Trustee in numerous adversary proceedings including:
    • Picard v. Nelson, 610 B.R. 197, 215–16 (Bankr. S.D.N.Y. 2019) (obtained $5,565,000 judgment after trial, including prejudgment interest).
    • Picard v. BAM L.P., 624 B.R. 55, 59–61 (Bankr. S.D.N.Y. 2020) (obtained $3,925,000 judgment after trial, including prejudgment interest).
    • Picard v. JABA Assocs. LP, 528 F. Supp. 3d 219 (S.D.N.Y. 2021) (won summary judgment in the amount of $2,925,000, plus prejudgment interest).
    • Picard v. Est. of Seymour Epstein, Adv. Pro. No. 10-04438 (CGM) (Bankr. S.D.N.Y. Jan. 27, 2021) (won summary judgment in the amount of $3,365,000, including prejudgment interest).
    • Picard v. The Gerald and Barbara Keller Fam. Tr., Adv. Pro. No. 10-04539, 2021 WL 4476811 (Bankr. S.D.N.Y. Sept. 30, 2021) (won summary judgment in the amount of $2,720,000, including prejudgment interest).
  • Represented the secured lender in connection with the sale of two commercial buildings in Manhattan for $180 million. The contested sale was completed through a prepackaged Chapter 11 plan that was confirmed in 75 days.
  • Represented the administrative agent for the prepetition and post-petition of secured lenders in Fairpoint Communications.
  • Represented the administrative agent for the prepetition and post-petition of secured lenders in SemGroup.
  • Represented the administrative agent for the prepetition of secured lenders in American Home Mortgage.
  • Represented the Chapter 7 trustee in Winstar Communications.
  • Represented the legal representative for future asbestos health claimants in Armstrong World Industries and USG Corp.
  • Represented the debtors in Nutritional Sourcing Corp., Integrated Health Services Inc. and Spinnaker Industries Inc.
  • Represented the debtor-in-possession (DIP) lenders to the Penn Traffic Co.
  • Represented the DIP lenders to St. Mary's Hospital, Passaic, New Jersey.
  • Represented the asset acquirer in the Our Lady of Mercy Medical Center Chapter 11 case.

Recognitions and Memberships

Recognitions

  • New York Metro "Super Lawyer" (2015 to 2021)

Memberships

  • American Bankruptcy Institute
  • Turnaround Management Association
  • American Bar Association

News

News

Pro Bono

  • Working with inMotion, a foundation that provides free legal services to low-income women, provided counsel in connection with obtaining an uncontested divorce for a client.

Admissions

  • U.S. District Court, Eastern District of New York
  • U.S. District Court, Southern District of New York
  • U.S. Court of Appeals, Second Circuit
  • New York
  • New Jersey

Education

  • J.D., St. John’s University School of Law, 1999, Executive Notes and Comments Editor, American Bankruptcy Institute Law Review
  • B.A., State University of New York at Albany, 1996, magna cum laude