Profile
Jeremy C. Hollembeak is a member of the firm’s Creditors’ Rights and Litigation teams who concentrates his practice on value maximization and monetization of his clients’ investments in special/distressed assets and litigation, bankruptcy and cryptocurrency claims. Jeremy regularly develops and executes bespoke legal strategies for private capital providers, strategic investment funds, banks/institutional lenders, and creditor committees/trustees/fiduciaries in situations involving:
- Loan workouts and rescue financing
- Litigation financing
- Asset tracing, seizure and liquidation
- Judgment enforcement
- US bankruptcy cases (incl. Chapters 7, 11, 12 & 15)
- Complex commercial litigation and arbitration
Jeremy’s practice spans key jurisdictions throughout the United States on engagements frequently involving international issues. He has appeared before courts in New York, Delaware, Texas, Florida, Nevada and Minnesota (among other states) and before the ICC’s International Court of Arbitration. He earned the distinction of Fellow from INSOL International for completing advanced training in international/comparative law in 2016, and has more than a decade of experience representing non-US clients in US proceedings brought to support or defend against disputes and insolvencies in other key jurisdictions throughout the world. These US proceedings include:
- Section 1782 applications seeking documents and testimony in the US to use as evidence in proceedings before foreign or international tribunals
- Chapter 15 cases supporting non-US insolvency proceedings (both restructurings and liquidations)
- US state and federal court actions for recognition and enforcement of non-US money judgments under the UFMJRA of 1962 and UFCMJRA of 2005, and of foreign and international arbitration awards under the New York Convention of 1958.
Prior to joining Baird Holm, Jeremy practiced for 13 years in the New York City offices of two international law firms, Milbank LLP and Kobre & Kim LLP. He is an active member of numerous professional organizations and bar associations, has spoken on several conference panels and authored a number of topical treatises and articles.
Areas of Practice
Education
- Hofstra University School of Law, J.D., magna cum laude
- Kansas State University, B.S., Chemical Engineering
Professional & Civic Affiliations
- INSOL International, Member and Fellow
- Turnaround Management Association, Member of New York and Minnesota chapters
- American Bankruptcy Institute, Member, Midwest Bankruptcy Institute Board member
- New York State Bar Association, Member
- Nebraska State Bar Association, Member, Bank Attorneys Section Executive Committee
Bar & Court Admissions
- New York
- Minnesota
- Nebraska
- Iowa
- Kansas
- United States District Court, Southern District of New York
- United States District Court, Eastern District of New York
- United States District Court, Minnesota
- United States District Court, Nebraska
- United States District Court, Kansas
- United States Court of Appeals, Second Circuit
- United Stated Court of Appeals, Third Circuit
- United States Court of Appeals, Fifth Circuit
- United States Court of Appeals, Eighth Circuit
- United States Court of Appeals, Ninth Circuit
Selected Practice Highlights
- Prosecuting contentious Section 1782 discovery application before SDNY District Court and Second Circuit Court of Appeals on behalf of strategic investment fund client with minority shareholder position in Brazilian public company. The application seeks US bank records evidencing allegedly illicit international financial transactions which the client intends to submit to Brazilian regulators. This matter is currently ongoing.
- Advising cryptocurrency investor client in connection with client’s assertion of one of the largest claims against bankrupt crypto-platform Genesis Global Capital and with client’s service as a member of the Official Committee of Unsecured Creditors appointed in Genesis’s Chapter 11 case before the SDNY Bankruptcy Court. This matter is currently ongoing.
- Prosecuting contentious litigation before SDNY Bankruptcy Court on behalf of strategic investment fund client that purchased bankruptcy claims under allegedly false pretenses, including requests for rescission and damages for fraudulent inducement against the seller of claims and its broker. This matter is currently ongoing.
- Representation of US client with operations in MENA region in connection with its prosecution of multi-million dollar claims in international arbitration against former counterparties located in U.A.E. and Turkey. This matter is currently ongoing.
- Representation of Official Committee of Unsecured Creditors in Chapter 11 bankruptcy case of large agribusiness debtor before Iowa Bankruptcy Court.
- Negotiating and closing workout transaction on behalf of private capital client that purchased defaulted bank debt and provided rescue financing to distressed agribusiness borrower, including forbearance arrangement with bespoke milestones tied to the borrower’s farm and feedlot operations.
- Developing and executing aggressive collateral protection and investment exit strategy on behalf of private capital provider client, including obtaining novel pre-judgment injunctive relief from Minnesota State Court against recalcitrant borrower which induced a buyout of the client’s investment on favorable terms.
- Developing and executing recovery strategy on behalf of bank damaged in Ponzi scheme, including asserting civil RICO claims in federal court and defeating scheme participant defendant’s motion to dismiss.
- Developing and executing arbitrage litigation strategy for Indenture Trustee concerning a disputed collateral allocation governed by a unitranche inter-creditor agreement among holders of billions of dollars of structured indebtedness issued under complex first lien credit facility and security documents.
- Developing and executing fraudulent transfer avoidance and clawback strategy on behalf of Official Unsecured Creditors Committee in large Chapter 11 case, attacking validity and priority of claims arising from eve-of-bankruptcy transactions involving unsecured-for-secured notes exchange.
- Developing and executing recovery strategy targeting complex structure of off-shore (BVI & Cayman) master/feeder funds owned by HNWI and early-exiting investor in one of the largest ever Ponzi schemes on behalf of client in his role as receiver and Chapter 11 trustee responsible for compensating victims of scheme.
- Developing and executing asset discovery and recovery strategy for Brazilian client in his role as court-appointed trustee of a large bankrupt Brazilian retail company that had been looted by former owners. After an investigation indicated the looters were using stolen company funds (laundered through shell companies) to maintain a lavish lifestyle and stockpile substantial assets in Miami, emergency orders were obtained through a Chapter 15 case in Florida Bankruptcy Court freezing the looters’ assets and compelling Miami branches of global banks to produce of records of the looters’ financial transactions.
- Developing and executing strategy for US recognition and enforcement of Mexican manufacturing client’s restructuring through out-of-court exchange offer for $1.2 billion of defaulted New Your-issued bond debt followed by Mexican concurso proceeding and US Chapter 15 case. Notable successes during multi-year engagement included the defeat of involuntary Chapter 11 cases filed by bondholders group against the client’s non-debtor US subsidiaries and preliminary injunctive relief protecting the client’s US assets from enforcement of New York state court judgments through the duration of Chapter 15 cases and subsequent appeals.
Selected Recent Publications
- “Strategies to Mitigate Credit Risk in a Highly Liquid Economy” published in Nebraska Bankers Association Journal (May 2022), Author
- “The Restructuring of Corporate Groups: A Global Analysis of Substantive, Procedural and Synthetic Group Procedures” published in INSOL International Special Report on Restructuring of Corporate Groups (2022), Chapter Author
- “Execution and Judgment Enforcement in the United States” in International Aspects of U.S. Litigation: A Practitioner’s Deskbook, James E. Berger, Editor, published by the American Bar Association’s Section of Litigation (2017), Chapter Co-Author
Recent Speaking Engagements
- “Maximizing Returns on Under/Non-Performing Bank Loans,” Baird Holm Financial Services Industry Webinar, Omaha, NE (May 12, 2022)
- “Strategies to Mitigate Credit Risk in a Highly Liquid Economy,” Risk Management Association’s Lunch and Learn, First National Bank of Omaha Headquarters, Omaha, NE (April 29, 2022)
- “Developments of Common Law of Cross-Border Insolvency Outside the EU Framework – How Cayman could Benefit,” Recovery and Insolvency Specialists Association (RISA) / South Square Conference, Georgetown, Cayman (November 22, 2016)
- “The Intersection of Cross-Border Insolvency Proceedings, Receiverships and U.S. Bankruptcy Proceedings,” American Bankruptcy Institute (ABI) Caribbean Insolvency Symposium, San Juan, Puerto Rico (February 2016)