Overview
A “very skilled” practitioner who is “everything a lawyer should be—thoughtful, strategic, supportive, and hard-working” (Chambers USA), Mike Merchant has served on the firm’s executive committee and is currently vice chair of the Bankruptcy & Corporate Restructuring Department.
Mike represents the full range of participants in bankruptcy cases and corporate restructurings, including debtors, secured and unsecured creditors, official and unofficial committees, and acquirers of distressed assets. Clients report that Mike “is really intelligent, diligent and a solid team player. He is thoughtful about how to approach the court” and has “great insight into what the judges look for” (Chambers USA, 2024).
Mike has represented clients from a variety of different business segments, including biopharmaceutical companies, bank holding companies, subprime lenders, telecommunications companies, and businesses in the retail and manufacturing sector. Mike also has significant experience assisting companies facing mass tort exposure navigate through the chapter 11 process. He is a member of the American Bankruptcy Institute, the Turnaround Management Association, and the American Bar Association.
PRACTICES
Select Experience
Debtor Representations
- Cano Health, Inc.: Co-counsel to one of the largest independent primary-care physician groups in the United States
- Mallinckrodt PLC: Co-counsel to a global specialty biopharmaceutical company that produces and sells both generic and branded products
- Nogin, Inc.: Counsel to e-commerce technology platform providers for corporations in a variety of industries, including apparel, accessories, and other consumer products
- Genapsys, Inc.: Counsel to life sciences company with a mission to build an affordable, scalable genomic sequencing ecosystem for research and diagnostic purposes
- Imerys Talc America, Inc.: Co-counsel to debtors facing significant potential liabilities as a result of claims by plaintiffs alleging personal injuries caused by exposure to talc mixed, processed, and/or distributed by one or more of the debtors
- Paddock Enterprises, LLC: Co-counsel to successor-by-merger to Owens-Illinois, Inc. facing hundreds of claims and lawsuits alleging personal injuries from exposure to asbestos contained in products manufactured between 1948-1958
- TK Holdings Inc. (Takata Corporation): Co-counsel to direct and indirect subsidiaries of global manufacturer of automotive safety components facing litigation relating to issues with certain airbag inflators
- The Rockport Company, LLC: Counsel to leading global designer, distributor, and retailer of comfort footwear
- National Envelope (NE Opco, Inc.): Counsel to the largest privately held manufacturer of envelopes in North America
- A123 Systems, Inc.: Co-counsel to manufacturer of lithium-ion batteries and battery systems
- Blitz USA, Inc.: Counsel to manufacturer of portable fuel containers and fuel transportation products
- Cooper Standard Automotive, Inc.: Co-counsel to manufacturer of components, systems, modules, and replacement parts for the automotive industry
- Linens ‘n Things, Inc.: Counsel to specialty retailer of home textiles, housewares, and home accessories
- QiMonda Richmond, LLC: Co-counsel to U.S. segment of international memory chip company
- New Century Financial Corporation: Co-counsel to one of the largest specialty finance businesses in the U.S.
- Resmae Mortgage Corporation: Counsel to part of nationwide mortgage banking company that originated, sold, and serviced subprime mortgages
- Gottschalks Inc.: Co-counsel to diversified retailer of full-line department stores and specialty stores
- Three A’s Holdings, LLC (Tower Records): Co-counsel to operator of large, widely recognized specialty music and video business
- Teleglobe Communications Corporation: Counsel to owner/operator of extensive global telecommunications network
- NationsRent, Inc.: Co-counsel to leading provider of rental equipment with rental centers located in 26 states
- Weiner’s Stores, Inc.: co-counsel to publicly owned retailer of branded apparel, accessories, shoes, domestics, housewares, and decorative home products
Creditors’ Committees and Strategic Creditor Representations
- Syms Corp/Filene’s Basement, LLC: Co-counsel to Official Committee of Unsecured Creditors of national retailer of discounted merchandise
- Edwin Watts Golf Shops: Co-counsel to Official Committee of Unsecured Creditors of one of the world’s premier specialty golf retailers
- Canfibre of Riverside, Inc.: Counsel to Official Committee of Unsecured Creditors of owner and operator of waste wood recycling facility
- Furniture Brands International, Inc.: Co-counsel to DIP lender and stalking horse purchaser of world leaders in design, manufacturing, and retailing of home furnishings
- Savient Pharmaceuticals, Inc.: Co-counsel to stalking horse purchaser of specialty biopharmaceutical company
- Goldking Holdings, LLC: Counsel to DIP lender and stalking horse purchaser of acquirer and developer of oil and gas properties
- Franklin Bank Corporation: Counsel to trustee under senior secured notes of savings and loan holding company
- Villanova University School of Law, J.D., cum laude, 1999
Villanova Sports & Entertainment Law Journal, Editor-in-Chief - Pennsylvania State University, B.S., with high distinction, 1996
Education
Publications
Court Adopts ‘Time’ Approach in Applying Section 502(b)(6) Cap
Delaware Business Court Insider | June 10, 2015
U.S. Bankruptcy Judge Kevin J. Carey of the District of Delaware’s recent opinion in In re Filene’s Basement LLC, Case No. 11-13511 (KJC), has provided long-awaited guidance on the application of Section 502(b)(6) of the Bankruptcy Code to lease rejection damages claims in the bankruptcy context. Perhaps most significantly, the court concluded that the “15 percent”…
Fiduciary Considerations for Pre-Bankruptcy Transactions
Delaware Business Court Insider | September 24, 2014
While Chapter 11 remains an attractive mechanism for selling distressed assets, some purchasers and sellers looking to avoid the costs or oversight associated with the Chapter 11 process instead choose to effectuate a pre-bankruptcy sale followed by filing a Chapter 7 petition. There is no denying that Chapter 11 can be expensive and that there may…
Addressing Section 503(b)(9) Claims Issues at the Outset
Delaware Business Court Insider | May 28, 2014
This article discusses the impact that Section 503(b)(9) of the Bankruptcy Code may have on the funding needs of a case and explores the manner in which the Delaware bankruptcy court has addressed the issue.
Effect of Post-Petition Payments on ‘New Value’ Defense
Delaware Business Court Insider | February 5, 2014
The U.S. Court of Appeals for the Third Circuit’s recent decision in Friedman’s Liquidating Trust v. Roth Staffing Companies LP, provides bankruptcy practitioners with long-awaited guidance on the effect that the post-petition payment of prepetition claims has on the calculation of the “new value” defense for purposes of determining preference liability.
Leadership
- American Bankruptcy Institute, Business Reorganization and Asset Sales Committees
- St. Thomas More Society, Executive Committee
Recognition
- Chambers USA, since 2012
- The Best Lawyers in America, since 2017
- Lawdragon 500 Leading Litigators in America, 2024, 2023
- Super Lawyers, 2024, 2020, 2019, 2018, 2017, 2014, 2013, 2012
- Delaware Today Top Lawyer, 2024, 2023, 2022, 2021
Bar Admissions
- Delaware, 1999
- United States District Court, District of Delaware, 2000