Joel I. Sher
Partner
jis@shapirosher.com
36 South Charles Street
Suite 200
Baltimore, MD 21201 410.385.4277 ph
410.539.7611 fax
Joel I. Sher is chairman of the Firm and heads its bankruptcy and financial restructuring practice. He concentrates in corporate reorganization, creditors’ rights and bankruptcy litigation. He represents debtors, creditors, and creditors’ committees in Chapter 11 bankruptcy cases and counsels clients in complex out-of-court workouts. As experienced Court-appointed Trustee, he currently serves as the Chapter 11 Trustee in the reorganization of TMST, Inc., a mortgage lender formerly known as Thornburg Mortgage, Inc. He is also an accomplished commercial litigator and has represented clients in federal and state courts throughout the United States.
Mr. Sher has extensive experience in bankruptcy and restructurings in a wide range of industries, including financial services, real estate development, construction management, health care, specialty retailing, governmental contracting, manufacturing and telecommunications. Mr. Sher has been involved in numerous complex bankruptcy cases throughout his career. These matters include his representation of the Combined Properties, a Washington D.C. based real estate portfolio, in its successful Chapter 11 bankruptcy cases which resulted from disputes among the Haft family. Mr. Sher has also served as counsel to a number of Chapter 7 Trustees, including in the cases of Merry-Go-Round Enterprises, Inc., a 1400-store national retail chain, Just For Feet, Inc., a 300-store national retail chain and Regency Homes, a regional real estate developer.
Mr. Sher’s experience includes representation of numerous businesses that have successfully reorganized under chapter 11, including financial service companies, real estate developers and general contractors, health care providers, publicly traded companies, restaurants and specialty retailers. Mr. Sher recently represented a regional developer and home builder in its successful Chapter 11 reorganization. He also served as counsel to Fieldstone Mortgage Company, a nationwide mortgage originator that emerged as an operating entity from its Chapter 11 bankruptcy case, as well as Luminent Mortgage Capital, Inc. in its successful Chapter 11 case. Recent engagements have also included his representation of a substantial creditor in the restructuring of National Amusements, Inc. Mr. Sher has acted as plan administrator and liquidating agent with respect to the management and disposition of an array of privately owned real estate and business interests in the United States, Australia, Spain, and the Netherlands. He has also been appointed as operating trustee/liquidating agent for a variety of businesses, including a national bottling company, numerous retail establishments, and real estate enterprises. Recently, Mr. Sher, in his capacity as a Court-appointed Chapter 11 Trustee, successfully reorganized a governmental services business with over 1100 employees nationwide and annual revenues in excess of $55 million.
Mr. Sher has served as counsel to the creditors’ committees in various cases including: Frank’s Nursery and Crafts, Inc., a retail nursery and garden store chain; Sunterra Corporation, one of the world’s largest timeshare companies; Railworks Corporation, a national supplier to and servicer of the railroad industry; PhyAmerica Physician Group, Inc., a national physician practice management company and Creditrust Corporation, a collector and manager of defaulted consumer receivables.
News & Publications
December 7, 2010: The Baltimore Business Journal reports that Joel I. Sher, who represents the trustee in the bankruptcy case of Alan Fabian, is pleased with the judge's order in, "Judge won't let Alan Fabian escape debts."
June 13, 2010: Chambers USA 2010 ranks Shapiro Sher Guinot & Sandler among the top law firms in the country. The prestigious guide cites four of the Firm's partners, including Joel I. Sher, among the leading lawyers in the United States.
March 5, 2010: American Lawyer Daily reports that Joel I. Sher, the court-appointed trustee in the Chapter 11 bankruptcy of Thornburg Mortgage Inc., has filed a complaint alleging conspiracy by the company's former executives and their attorney. Further reports on the case were published by Reuters, the Wall Street Journal's Bankruptcy Beat blog, and the New York Times' DealBook blog.
February 5, 2010: "Thornburg Seeks to Sell $11 Billion Portfolio." The Dow Jones Daily Bankruptcy Review quotes Joel I. Sher, court-appointed trustee to Thornburg Mortgage Inc., in a report on the bankrupt lender's Chapter 11 case.
November 9, 2009: "Thornburg Bankruptcy Hits Bumps." The Albuquerque Journal, in a column about the bankruptcy of Thornburg Mortgage Inc., reports that "what once was arguably Santa Fe's premier business is being run" by Joel I. Sher, who was appointed Chapter 11 trustee in the case by U.S. Bankruptcy Judge Duncan Keir in Baltimore.
October 30, 2009: Sher appointed Chapter 11 trustee for Thronburg Mortgage Inc. Reuters reports that Joel I. Sher has been appointed Chapter 11 trustee to oversee the liquidation of the former Thornburg Mortgage Inc.
September 14, 2009: Caruso Homes to Emerge from Bankruptcy Protection. The Baltimore Business Journal, Builder's Magazine and CityBizList report on the homebuilder's successful Chapter 11 reorganization, citing Joel I. Sher as debtor's counsel. In Court, the Judge complimented the Caruso legal team saying: "This case is an example of how the bankruptcy code should work."
June 30, 2009: Selected for the 2010 edition of Best Lawyers in America, a highly respected peer-review publication serving the legal profession.
September 9, 2008: The Deal cites Mr. Sher as debtor co-counsel in the Chapter 11 case of Luminent Mortgage Capital Inc., a Philadelphia-based REIT.
September 8, 2008: Mr. Sher is selected for inclusion in the 2009 edition of The Best Lawyers in America.
July 11, 2008: "Fieldstone Bankruptcy Plan OK'd by Judge." SSG&S represents Fieldstone Mortgage as the company wins approval of its Chapter 11 plan and becomes "one of few subprime lenders to survive bankruptcy since the credit crisis began," reports The Baltimore Sun.
June 24, 2008: Caruso Homes, Inc. files for Chapter 11 relief. Reporting on the Maryland homebuilder's bankruptcy, The Baltimore Examiner quotes Joel I. Sher, debtor's counsel in the case.
Joel I. Sher named in "Super Lawyers" list of the top 50 attorneys in the state of Maryland. The list was published in the January 2008 issue of Baltmore Magazine and in Maryland Super Lawyers Magazine.
May 17, 2008: "'Massive fraud' nets plea of guilty." The Baltimore Sun reports that entrepreneur Alan B. Fabian has pled guilty to a multi-year fraud scheme. The story quotes Joel I. Sher, attorney to the trustee of Fabian's bankrupt Strategic Partners International, Inc.
Attorneys
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Practice Areas
Bankruptcy and Financial Restructuring
Bankruptcy and Creditors' Rights Litigation
Corporate, Commercial, and Regulatory
International Trade and Commerce
Bar Admissions
Maryland
Court of Appeals for the Fourth Circuit
U.S. District Court for the District of Maryland
U.S. Bankruptcy Court for the District of Maryland
United States Supreme Court
Education
University of Maryland (B.A., 1974)
Villanova University School of Law (J.D., 1978)
Affiliations, Achievements And Honors
Cited in Chambers USA 2010 among the leading lawyers in the United States.
Selected for the 2011 edition of The Best Lawyers in America.
Cited as one of the Top 50 attorneys in Maryland in a list of the state's Super Lawyers published in Baltimore Magazine.
Panel Trustee, U.S. Bankruptcy Court for the District of Maryland
Member, Past Chair, Bankruptcy Bar Association of Maryland
Member, Maryland State Bar Association
Member, Baltimore City Bar Association
Member, Baltimore County Bar Association
Member, Association for Commercial Finance Attorneys
Member, American Bankruptcy Institute
Member, Commercial Law League of America
Author of articles, lecturer on bankruptcy and debtor/credit issues
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