Sam Ashuraey

Sam represents creditors in both in- and out-of-court reorganizations, plaintiffs and defendants in adversary proceedings and other litigation, and parties in negotiating various commercial transactions.

Sam has extensive experience in large and complex bankruptcy proceedings.  He has been involved in several recent crypto bankruptcies, where he has advised dozens of individual and institutional claim holders in the bankruptcies of FTX, Celsius and Voyager.  This included negotiating complex claim sales, settling preference actions and seeking claim allowance.  He is also an experienced litigator who prioritizes a pragmatic and results-driven approach.  He has represented litigants in district and bankruptcy courts and has achieved speedy and favorable settlements for his clients.  He also advises clients on various commercial and lending transactions.

Prior to founding Ashuraey Law, Sam practiced at several top New York corporate restructuring groups, where he represented key stakeholders in in-court and out-of-court reorganizations, including individual creditors and creditors’ committees, ad hoc groups, debtors, and bidders and buyers in connection with section 363 sales.  Sam’s experience spans cases of all sizes in multiple jurisdictions, including New York, Delaware, and Texas. He has been involved in several notable recent cases, including FTX, Sears, and Energy Futures Holdings. This gives Sam the rare ability to provide clients with mega-case insight through a small firm platform.

A graduate of Columbia Law School and the University of Pennsylvania, Sam has been named in Best Lawyers: Ones To Watch and New York Super Lawyers: Rising Stars, and has written and been quoted in several legal and non-legal publications.

Representative Matters

• Plaintiff in breach of contract case arising out of a bankruptcy claim sale, a case that was reported by Bloomberg and Coindesk, among others.
• Multiple institutional and individual holders of claims of various sizes in the chapter 11 cases of FTX, primarily as claim sellers.
• Recipients of preference demands from the Celsius Litigation Administrator and Voyager Plan Administrator in connection with potential litigation strategy and settlement negotiations.
• A mortgagee as one of the largest secured creditors in the bankruptcy and contested proceedings against one of its former employees.
• A boutique investment firm in multiple litigation matters.
• A Colombian bank in connection with the prepackaged Chapter 11 case of Credivalores – Crediservicious S.A.
• Private equity fund as borrower under $30+ million financing term loan from overseas lender.
• Holder of contract rejection claim in the Subchapter V case of e-commerce agency.

Experience prior to Ashuraey Law:

• The official committees of unsecured creditors in the chapter 11 cases of FTX Trading Ltd., Fieldwood Energy LLC (2020), and LSC Communications, Inc.
• Ad hoc groups of secured noteholders in the chapter 11 cases of  TPC Group Inc., and in the out-of-court and subsequent prepackaged reorganization of Carlson Wagonlit Travel.
• One of the largest landlord claimants in the Subchapter V case of Parking Management, Inc.
• Vendor in negotiation and litigation of its significant 503(b)(9) claim and preference defense in Sears Holding Corporation.
• Debtors in possession in the chapter 11 cases of Aerogroup International, Inc. and Gawker Media LLC.
• Defendant in negotiation and settlement of substantial preference action in In re The Great Atlantic & Pacific Tea Company, Inc.
• Companies in connection with out-of-court reorganizations, refinancing, and bankruptcy filing preparations.
• Bidders, buyers, and lenders in connection with section 363 sales.

Education

• J.D., Columbia Law School; Harlan Fiske Stone Scholar; American Review of International Arbitration, Senior Editor
• B.A., University of Pennsylvania

Memberships and Recognitions

• Best Lawyers: Ones to Watch^® in America (Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law)
• New York Super Lawyers: Rising Star
• IR Global, Insolvency Member (New York)
• American Bankruptcy Institute

Publications

• Quoted, “FTX’s Ch. 11 Sweetens Crypto Creditor Claims Market,” Law360 (August 1, 2024), available at https://www.law360.com/bankruptcy-authority/articles/1864824
• Author, “The Value of Being Rejected: Determining the Appropriate Discount Rate for Rejection Damages,” Houston Business and Tax Law Journal Online Publication (November 2023), available at https://hbtlj.org/wp-content/uploads/2023/11/Ashuraey-The-Value-of-Being-Rejected.pdf
• Author, “Expert Analysis: Subchapter V Eligibility Ruling Raises Uncertainty for Tenants,” Law360 (August 16, 2023), available at https://www.law360.com/articles/1710928/subchapter-v-eligibility-ruling-raises-uncertainty-for-tenants
• Author, “Expert Analysis: Shkreli Cos. Bankruptcy Illustrates Novel Subchapter V Trend,” Law360 (May 25, 2023), available at https://www.law360.com/articles/1681366/shkreli-cos-bankruptcy-illustrates-novel-subchapter-v-trend

Admissions

• New York
• Southern District of New York
• Eastern District of New York

Languages

• Arabic