Rich focuses his practice on Finance & Restructuring and Bankruptcy. With more than 30 years of experience, Rich practices principally in the areas of:
- Bankruptcy and workouts
- Creditors’ rights
- Bankruptcy litigation
- Commercial lending
Rich has appeared in most of the major Chapter 11 bankruptcy cases commenced in Minnesota in recent years. He has also represented Minnesota clients in bankruptcy cases in Delaware, Massachusetts, New York, Illinois, Texas, Arizona and other jurisdictions.
Rich has represented creditors and other clients on a wide variety of matters under Chapter 11, including negotiation and litigation concerning use of cash collateral, Chapter 11 plan issues, relief from stay proceedings and claim objections. Rich has also represented PACA creditors and administrative expense claimants, and landlords and tenants in bankruptcy matters.
Rich also has experience in the purchase and sale of assets in Chapter 7 and 11 proceedings, including sales under Section 363 of the Bankruptcy Code and the negotiation of bidding procedures and buyer projections.
Historically, Rich successfully represented a lender in the case that established the basic law governing the relationship between the Bankruptcy Code and Minnesota's foreclosure statute: Johnson v. First National Bank.
Non-Bankruptcy Creditors’ Rights
Rich has represented secured creditors and other parties in state court assignment for benefit of creditor proceedings and both entity and asset receiverships receivership actions (including real estate receiverships). Rich has also represented secured lenders in connection with public and private Article 9 foreclosure proceedings involving both tangible and intellectual and other intangible property.
Rich has extensive experience representing defendants in bankruptcy preference, fraudulent conveyance actions, as well as other bankruptcy litigation.
Commercial Lending and Workouts
Rich also assists secured creditors and other clients with corporate financing workout negotiations and other lending matters.
Honoree, Attorney of the Year, Minnesota Lawyer (2018)
Honoree, Best Lawyers in America, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law (2013-present)
- University of Minnesota Law School (1979)
Magna Cum Laude, Order of the Coif
- Macalester College (1976)
B.A., Summa Cum Laude, Phi Beta Kappa
- State - Minnesota
- Federal - 8th Circuit Court of Appeals
- Federal - District of Minnesota
- Representation of a public agency in the acquisition of abandoned industrial property through a Section 363 bankruptcy sale, where subject property emerged as cornerstone of client’s commercial redevelopment efforts.
- Representation of national pharmaceutical and educational institution in the acquisition under Section 363 of the Bankruptcy Code of a major regional pharmaceutical testing facility, including representation of the client in related regulatory and testing sponsor issues.
- Representation of the lender in a bankruptcy involving a major ethanol producer.
- Representation of a major advertising agency in a successful Chapter 11 reorganization.
- Representation of a secured lender in the negotiation and preparation of a Chapter 11 reorganization plan for a condominium project located in outstate Minnesota.
- Representation of a secured creditor in a Chapter 11 bankruptcy case filed by a national food company, involving employment and tax issues and extensive negotiation and litigation with PACA creditors, mezzanine lenders, equity holders and other interested parties.
- Representation of a national commercial real estate developer and landlord in retail bankruptcy cases located throughout the country.
- Representation of national franchisee associations in various franchisee and franchisor bankruptcy proceedings.
- Representation of major utility companies in bankruptcy proceedings, including Chapter 11 proceedings involving a national mining operator, a national media cable company and a major producer of paper products.
- Representation of numerous landlords, investors, vendors and other creditors, charitable organizations and other local and national clients in the defense of preference, fraudulent conveyance and other clawback matters, including defense of clients in state, federal and bankruptcy court Ponzi scheme cases.
- Participated in the preparation and legal analysis of an amendment to Minn. Stat. §541.12 enacted in 2012 to provide additional protection for charitable organizations in the defense of clawback claims, including clawback claims arising out of failed Ponzi schemes.
- Hennepin County Bar Association
Member, Ethics Committee
- Minnesota State Bar Association
- American Bar Association
- American Bankruptcy Institute
- Turnaround Management Association
Member, Board of Directors and Secretary (Upper Midwest Chapter)
Member, Education Committee
- William Mitchell College of Law
Former Adjunct Professor of Bankruptcy Law