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Faced 5+ Years in Prison

People Vs Joseph Amico

Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.

Faced 10+ Years in Prison

People Vs. Anna Sorokin

Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.

Faced 3+ Years in Prison

People Vs. Genevieve Sabourin

Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.

Faced Potential Charges

Ghislaine Maxwell Juror

Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.

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Meet Todd Spodek


The Spodek Law Group understands how delicate high-profile cases can be, and has a strong track record of getting positive outcomes. Our lawyers service a clientele that is nationwide. With offices in both LA and NYC, and cases all across the country - Spodek Law Group is a top tier law firm.

Todd Spodek is a second generation attorney with immense experience. He has many years of experience handling 100’s of tough and hard to win trials. He’s been featured on major news outlets, such as New York Post, Newsweek, Fox 5 New York, South China Morning Post, Insider.com, and many others.

In 2022, Netflix released a series about one of Todd’s clients: Anna Delvey/Anna Sorokin.

Why Clients Choose Spodek Law Group

The reason is simple: clients want white glove service, and lawyers who can win. Every single client who works with the Spodek Law Group is aware that the attorney they hire could drastically change the outcome of their case. Hiring the Spodek Law Group means you’re taking your future seriously. Our lawyers handle cases nationwide, ranging from NYC to LA. Our philosophy is fair and simple: our nyc criminal lawyers only take on clients who we know will benefit from our services.

We’re selective about the clients we work with, and only take on cases we know align with our experience – and where we can make a difference. This is different from other law firms who are not invested in your success nor care about your outcome.

If you have a legal issue, call us for a consultation.
We are available 24/7, to help you with any – and all, challenges you face.

NYC Chapter 11 Lawyers

By Spodek Law Group | March 7, 2021
(Last Updated On: July 26, 2023)

Last Updated on: 26th July 2023, 10:10 pm

Deciphering Chapter 11 Debt Restructuring

Chapter 11 bankruptcy, often termed as debt restructuring, is a viable solution for both individuals and enterprises aspiring to retain authority over their possessions. If you’re a denizen of the Big Apple caught in a financial whirlwind, you may find your safe harbor in Chapter 11, reconfiguring your liabilities while avoiding the trusteeship of a bankruptcy overseer. Let’s explore this a bit more to find if it suits your unique circumstances.

Elective or Compulsory Lodging

The appeal for Chapter 11 is predominantly an elective process carried out by individuals or enterprises seeking fiscal respite. Yet, there could be instances of compelled filings when a syndicate of creditors join forces to seek redress from a defaulting debtor.

Enforced Pause

The moment a Chapter 11 appeal hits the court dockets of New York, an automatic stay springs into action. This statutory injunction effectively halts creditors in their tracks, barring them from initiating further collection maneuvers, inclusive of lodging liens, seizing properties, or finalizing foreclosure proceedings.

Consortium of Unsecured Creditors

Certain cases might see the emergence of a consortium of unsecured creditors to guarantee their representation in the proceedings. This is a common sight in instances carrying the weight of substantial complexity or significant monetary value, usually when businesses seek Chapter 11. For individual cases, this occurrence is rather rare.

This consortium brings together three or more of your unsecured creditors, handpicked by the U.S bankruptcy trustee assigned to your case. These individuals, acting in a voluntary capacity, can employ legal advisors or financial planning support to guide their decisions. The debtor eventually absorbs the financial burden of any professional assistance that the committee enlists.

Blueprint for Debt Restructuring

Within the initial 120 days of lodging a Chapter 11 appeal, the debtor is obligated to present a blueprint for debt restructuring. This document outlines the strategy for settling specific debts. This exclusive window allows the debtor alone to present the plan. However, if this period expires without any action, a creditor or a consortium thereof, can submit a restructuring plan on behalf of the individual. Irrespective of the filing party, the bankruptcy court retains the final say in sanctioning these plans.

The blueprint could potentially incorporate several elements, including but not limited to:

  • Existing loan refinancing to cut back on interest rates or to lengthen the repayment term for manageable payments
  • Renegotiation of repayment clauses
  • Abandonment of contracts that are no longer advantageous
  • Asset liquidation

Creditor Endorsement

If your plan marginally impairs the creditors, i.e., demands alteration of payment terms, they get a say in voting. Unimpaired creditors, those not affected by the plan, are deemed to tacitly accept it, hence abstaining from voting. Fully impaired creditors, who won’t recover from their losses, are assumed to outrightly reject the plan. For a plan to pass muster, it requires the endorsement of two-thirds in number and half in dollar value of the creditors.

Chapter 11 Forcing Through

In certain Chapter 11 cases, the bankruptcy court might push a “cramdown,” forcibly implementing specific terms on the creditors, regardless of their objections. Unsecured creditors are at a higher risk of being subjected to a cramdown than their secured counterparts.

Chapter 11 Weighing the Scales

Chapter 11 filing offers its share of merits and demerits. It becomes a considerable choice if

you have been previously rebuffed for Chapter 7 or Chapter 13. It also inflicts lesser harm on your credit rating compared to other bankruptcy forms and allows you to retain significant control during the proceedings.

However, the downside of Chapter 11 is its inherent complexity and prolonged completion period, rendering it a less attractive option if you are seeking immediate relief rather than a long-term solution.

Given the complexity of Chapter 11 proceedings, it’s unwise to undertake this process solo. It’s prudent to engage our legal expertise at our New York City law firm for assistance with Chapter 11 or any other bankruptcy proceedings.

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I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

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It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me, and my company Qumana skincare feel comfortable and confident that the team was going to work hard for me. Everything...

~A G

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After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

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