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Overview
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Experience
Introduction
A litigator with more than 35 years of experience, Gary advises clients on their most critical business matters.
Gary F. Eisenberg advises clients on matters including creditors' rights, workouts, litigation, and bankruptcy. He represents clients in a range of industries, with an emphasis on commercial mortgage-backed securities (CMBS) special servicers, collateralized debt obligation holders, and other financial institutions. Gary focuses his practice on industries facing distress, including hospitality, real estate, and financially leveraged businesses.
Gary handles high-stakes litigation with complex financial underpinnings. He has achieved numerous favorable outcomes, including eight-figure judgments, settlements, and dismissals on summary judgment, helping clients preserve their companies and reputations. He also has deep experience litigating competing bankruptcy plans for reorganization. Notably, Gary represented an indenture trustee in an aircraft financing that resulted in the repossession of a 747 transport plane off a military base.
In his work on behalf of CMBS special servicers, Gary advised on formulating and applying servicing agreements and exercising rights and remedies. His representation includes secured creditors, bondholders, hedge funds, and distressed asset buyers in large and complex cases in and out of bankruptcy. He also advises on the debtor-creditor aspects of corporate transactions, including structured finance transactions.
Gary assists clients in multijurisdictional matters, including Chapter 15 bankruptcy cases. This includes representing secured lenders in foreclosure and other security interest litigation, and in nonjudicial sales. When representing creditors in multiple bankruptcy jurisdictions, he litigates cash collateral orders, stay relief motions, and procurement of confirmation of lender-proposed plans of reorganization.
Gary has also represented owners of leveraged companies and affiliated lenders in restructuring troubled businesses under Article 9 of the Uniform Commercial Code and similar laws. He advises entrepreneurial finance companies on developing and enforcing novel secured-credit products, including credit secured by IP.
Gary previously chaired Ashurst Perkin Coie’s CMBS practice and the New York office's Community Service Committee.
Education & credentials
- New York University School of Law, J.D., 1989
- Yale University, B.A., Economics & Mathematics, magna cum laude, with distinction, 1986
- New York
- New Jersey
- Herrick, Feinstein LLP, New York, NY; Newark, NJ, Partner, 2007-2011
- Windels Marx Lane & Mittendorf, LLP, New York, NY; New Brunswick, NJ, Associate, 1996-2003; Partner, 2004-2007
- Lowenstein Sandler Kohl Fisher & Boylan, PC, Livingston, NJ, Associate, 1990-1996
- Hon. Stewart PollockSupreme Court of New Jersey
Professional recognition
Selected by Super Lawyers Magazine as a New York Metro "Super Lawyer" for Bankruptcy & Creditor/Debtor Rights, 2013-2025
Listed in Legal Leaders as Top Rated Litigator, 2023
Impact
- Turnaround Management Association (TMA), New York Chapter, Membership Committee, 2021
- Perkins Coie Community Service Committee, New York Chair, 2017
- Congregation Ahawas Achim Bnai Jacob & David, Member
Successful CMBS Sale Authorization
Obtained authorization for sale of CMBS over the objection of fund counsel, enabling eight-figure outcome for client.
Summary Judgment Ends Major Threat to Financial Institution
Represented major financial institution in defeating effort by international investment bank to “crack” CDO and attempt to orchestrate financial default of client. Prevailed on summary judgment.
CMBS Foreclosures and Enforcements
Represented CMBS special servicers, private lenders and financial institutions in foreclosure and related enforcement of over $1 billion of defaulted financial instruments (including hotels, healthcare facilities, and a 747 off of a military base).
PE Fund Gains Major Proceeds of Asset Sale
Orchestrated successfully, on behalf of a private equity fund, the structured dismissal of a bankruptcy case and distribution to our client of major portion of the proceeds of asset sales.
Trustee Litigation Resolved in Eight-Figure Settlement
Represented liquidating trustee in pursuit of litigation against junior lienors for improper control of financially troubled company; successfully negotiated eight-figure settlement.
Article 9 Sale Helps to Launch New Business
Orchestrated Article 9 sale of assets by secured creditor/equity holder of media production company and acquisition of senior debt to effectuate launch of new business with clean balance sheet.
Enforcement of Perfected Lien Through Conversion to DIP Loan
Represented prepetition lender secured by lien on business assets in converting loan into DIP loan in bankruptcy with provisions compelling payback of DIP loan in full upon sale of assets, without holdback rights for debtor contemplating lender liability counterclaims, provisions the bankruptcy court enforced.
Judgment on “Bad Actor” Guaranty
After obtaining title to property in contested foreclosure, obtained entry of what is reputed to be the largest ever deficiency judgment in that jurisdiction arising out of “bad actor” guaranty, by proving that leases made without lender consent post-foreclosure commencement constituted unauthorized transfers triggering full recourse liability.