Edwards Angell Palmer & Dodge

Wilmington Tel 302.425.7139 Download VCard

Craig Martin is a Partner in the Restructuring & Insolvency Department and has spent his legal career working on complex distressed situations. Craig has represented numerous parties in a variety of cases, including equity committees, committees of unsecured creditors, bank groups, indenture trustees, and debtors. Craig has also advised purchasers of assets in bankruptcy auctions and court-approved sales and frequently provides bankruptcy-specific advice in complex mergers and acquisition situations involving distressed entities. While Craig has appeared in the bankruptcy courts all across the US, his work frequently focuses on cross border situations and he has acted as counsel in cases in Canada, Germany, Ireland, Hong Kong, Spain, Bermuda, the Dominican Republic, Africa, the UK and Argentina. Craig has also acted as first-chair litigation counsel in a number of cases involving terms of bond indentures, such as x-clauses, permitted indebtedness clauses and other covenents.

• Craig represented a non-debtor Belgian subsidiary in a contentious adversary litigation involving a corporate group of companies, the ultimate parent of which is a post-confirmation Chapter 11 debtor. See In re Total Containment Inc., 2007 WL 1775364. Craig led the client through the litigation and mediation, resulting in a 90% reduction of the client's alleged liability.
  
  
• Craig guided a senior secured lender through a contentious five day trial for the appointment of a trustee to operate a distressed television station, leading to payment in full of the lender's principal and interest.
  
  
• Craig performed due diligence and drafted complex representations and warranties protecting a Spanish purchaser of a distressed business from liabilities for bankruptcy expenses and accrued taxes. Craig also recently drafted the bankruptcy provisions of an asset purchase agreement where a U.S. company bought assets from a distressed company based in Germany.
  
• Craig advised a chapter 11 debtor and manufacturer on the liquidation of its non-debtor Canadian subsidiary and litigation over ownership of cash proceeds of a demutualization of an insurance company.
  
  
• Craig recently negotiated a royalty payment from Indian purchaser of a U.S. debtor's assets on behalf of Irish pharmaceutical corporation in a manner that was acceptable the divergent interests of different creditors and investors.
  
  
• Craig recently advised a publicly traded distressed textile corporation with operations in Honduras and Nicaragua on its prearranged bankruptcy filing.  In the course of this representation, Craig negotiated with an ad hoc committee of public bond holders and assisted in the preparation and presentation of the numerous "first day" bankruptcy motions.
  
  
• Craig defended a Hong Kong corporation against a multi-million dollar fraudulent transfer and preference action brought against it in Wilmington, Delaware, which required the review of thousands of documents, the preparation of a complex summary judgment motions, hiring and managing financial experts, and spending two weeks in Hong Kong where Craig was on a team that took eight depositions in two weeks using Chinese translators and supervised by the Hong Kong Court.
  

• Lawyers on the Front and the Homefront, moderator, New Castle, Delaware, November 9, 2009.
  
  
• "Shooting a Bullet Across the Border: In re Lyondel Chemical and the Grant of a Worldwide Injunction," author, INSOL World, Second Quarter 2009.
  
  
• "Issues facing younger members in practice," speaker, INSOL International Young Members Meeting, Vancouver, British Columbia, June 23, 2009.
  
  
• "The VA CLAIM Process:  An Overview," speaker, Veterans Law CLE Symposium presented by Widener University School of Law, Harrisburg, Pennsylvania, November 14, 2008.
  
  
• "Opportunities in Cross-Border Distressed & Turnaround Investing - Around the World in 45 Minutes," moderator, 2008 Distressed & Turnaround Forum East, New York, May 14-15, 2008.
  
  
• "Publisher faces possible payment refund in customer's bankruptcy case," quoted, SIPA's Hotline Newsletter, Volume 32, Number 8, April 21, 2008.
  
  
• Gathering Storm, panelist, INSOL International's Brussels Seminar, March 4, 2008.
  
  
• "Delaware," co-author, Getting the Deal Through - Dispute Resolution 2007.
  
  
• "Challenges to Executive Compensation in Insolvency Proceedings," co-author, International Law Office, May 25, 2007.
  
  
• Anticipated Issues under Chapter 15, presenter, Delaware Bankruptcy Inn of Court, February, 21, 2006.
  
  
• "Yuko's $28 Billion Question: Can I Get In?  Can I Stay?  And If I Do Will You Help Me?", INSOL World, Third Quarter 2005.
  
  
• "The International Scene: Eurofood Fight: Forum Shopping Under the EU Regs," ABI Journal, March 2005.
  
  
• "A Guide to Bankruptcy:  Present and Future," presenter, Philadelphia Association of Paralegals Annual Education Conference, 2002.

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Craig became interested in bankruptcy law prior to law school when he coordinated distribution of payments to beneficiaries of asbestos trusts created by the bankruptcy courts for a Dallas litigation firm.  During law school, he interned for the Honorable Wesley W. Steen in the United States Bankruptcy Court for the Southern District of Texas and spent one summer as a mini-pupil in a set of barrister's chambers in London.  Craig began his career as an attorney in the bankruptcy practice group of Andrews & Kurth LLP in Houston, Texas, and was a member of the Corporate Recovery and Insolvency group at Dechert LLP.

Craig enjoys playing cricket for Merion Cricket Club where he is a medium pace bowler and safely holds down the 11th spot in the batting order. He currently serves on the organizing committee of the Philadelphia International Cricket Festival, which raises money for charity with its annual cricket tournament. Craig also uses his masters degree in literature in collecting and discussing rare books with his friends in Philadelphia's Philobiblon Club. Craig is also the Chair of the Delaware State Bar Association's Veterans Law Committee and frequently lectures on U.S. veterans law and represents disadvantaged veterans on a pro bono basis.