Joseph C. Barsalona II

Joseph C. Barsalona II is a partner in the firm’s Bankruptcy, Restructuring & Creditors’ Rights practice group.  He focuses his practice on in-court and out-of-court restructurings, distressed asset sales, and bankruptcy litigation. His diverse bankruptcy practice includes representation of debtors, official committees, secured and unsecured creditors, distressed investors, independent directors, asset purchasers and other parties in interest in all phases of chapter 11 proceedings and related trial and appellate litigation. Joe also has experience with various state court insolvency proceedings in the Delaware Court of Chancery and the Chancery Division of the New Jersey Superior Court, including assignments for the benefit of creditors, receiverships and dissolutions. Joe’s experience spans a wide variety of industries including hospitality, pharmaceuticals, oil and gas, food and beverage, entertainment, energy production, retail, manufacturing, publishing, finance, transportation, and real estate.

As partner in both the Bankruptcy, Restructuring & Creditors’ Rights and Commercial Real Estate groups, Joe also concentrates on the preparation and issuance of state and federal legal opinions in connection with real estate financings, including substantive non-consolidation, bankruptcy remote, and fairness opinions, as well as Delaware state law opinions.

Active in the American Bankruptcy Institute, Joe currently serves as co-chair of ABI’s Bankruptcy Litigation Committee.  He is also a member of the Turnaround Management Association.

Prior to joining Pashman Stein, Joe was an associate in Delaware at Richards, Layton & Finger, P.A. and Morris, Nichols, Arsht & Tunnell LLP.

Representative Matters

Our firm is proud of the results it has achieved for clients, some of which are noted here.  Of course, each legal matter is unique on many levels, and past successes are not a guarantee of results in any other pending or future matters.

Certain of the matters below were handled by Joe prior to his joining Pashman Stein Walder Hayden:

Distressed Company and Debtors in Possession

• Counsel to Lunya Company (Case No. 23-10783 (BLS) )
• Counsel to Gleamin Inc. (Case No. 22-10768 (JTD) Bankr. D. Del.) in its restructuring under Subchapter V of chapter 11 of the Bankruptcy Code.
• Conflicts and efficiency counsel to Grupo Aeroméxico, S.A.B. de C.V. and certain of its debtor affiliates (Case No. 20-11563 (SCC) Bankr. S.D.N.Y.).
• Co-counsel to Fred’s, Inc. and its debtor affiliates (Case No. 19-11984 (CSS) Bankr. D. Del.).
• Co-counsel to Southcross Energy Partners, L.P and its debtor affiliates (Case No. 19-10702 (MFW) Bankr. D. Del.).
• Co-counsel to Lolli and Pops, Inc. and its debtor affiliates (Case No. 19-11813 (CSS) Bankr. D. Del.).
• Co-counsel to White Star Petroleum Holdings, LLC and its debtor affiliates (Case No. 19-11179 (BLS) Bankr. D. Del.; Case No. 19-12145 (JDL) Bankr. W.D. Okla.).
• Counsel to a distressed borrower in the food and beverage industry with its out-of-court restructuring.
• Co-counsel to The Weinstein Company and its debtor affiliates (Case No. 18-10601 (MFW) Bankr. D. Del.).
• Co-counsel to Mammoet-Starneth LLC (the owner of the New York Wheel) (Case No. 17-12925 (LSS) Bankr. D. Del.).
• Counsel to ExGen Texas Power, LLC and its debtor affiliates (Case No. 17-12377 (BLS) Bankr. D. Del.).
• Co-counsel to Prospector Offshore Drilling S.a r.L. and its debtor affiliates (Case No. 17-11572 (CSS) Bankr. D. Del.).
• Counsel to Homer City Generation, L.P. (Case No. 17-10086 (MFW) Bankr. D. Del.) in its prepackaged restructuring.
• Co-counsel to Chaparral Energy, Inc. and its debtor affiliates (Case No. 16-11144 (LSS) Bankr. D. Del.).
• Co-counsel to Constellation Enterprises LLC and its debtor affiliates (Case No. 16-11213 (CSS) Bankr. D. Del.).
• Co-counsel to Paragon Offshore plc and its debtor affiliates (Case No. 16-10386 (CSS) Bankr. D. Del.).
• Counsel to F-Squared Investment Management, LLC and its debtor affiliates (Case No. 15-11469 (LSS) Bankr. D. Del.).
• Co-counsel to Colt Holding Company, LLC and its debtor affiliates (Case No. 15-11296 (LSS) Bankr. D. Del.).
• Co-counsel to Golden County Foods Co. and its debtor affiliates (Case No. 15-11062 (KG) Bankr. D. Del.).
• Counsel to Corinthian Colleges, Inc. and its debtor affiliates (Case No. 15-10952 (KG) Bankr. D. Del.).
• Co-counsel to Frederick’s of Hollywood, Inc. and its debtor affiliates (Case No. 15-10836 (KG) Bankr. D. Del.).
• Co-counsel to Energy Future Holdings Corp. and its debtor affiliates (Case No. 14-10979 (CSS) Bankr. D. Del.).

Official and Ad Hoc Committees - Creditor

• Counsel to a midstream counterparty and one of the largest unsecured creditors of Whiting Petroleum Corporation and its debtor affiliates (Case No. 20-32021 (DRJ) Bankr. S.D. Tex.) and a member of the official committee of unsecured creditors.
• Co-counsel to the Official Committee of Unsecured Creditors of TZEW Holdco, LLC (Case No. 20-10910 (CSS) (Bankr. D. Del.).
• Counsel to one of the largest unsecured creditors of Fleetwood Acquisition Corp. and its debtor affiliates (Case No. 19-12330 (KBO) Bankr. D. Del.) and a member of the official committee of unsecured creditors.
• Co-counsel to the Official Committee of Unsecured Creditors of EdgeMarc Energy Holdings, LLC and its debtor affiliates (Case No. 19-11104 (JTD) Bankr. D. Del.) and lead counsel to the Liquidation Trustee of the EdgeMarc Liquidation Trust.
• Co-counsel to one of the largest suppliers to and unsecured creditors of Orchids Paper Products Company and its debtor affiliates (Case No. 19-10729 (MFW) Bankr. D. Del.) and a member of the official committee of unsecured creditors.
• Co-counsel to an ad hoc group of second lien noteholders in the chapter 11 cases of LBI Media, Inc. and its debtor affiliates (Case No. 18-12655 (CSS) Bankr. D. Del.).
• Counsel to one of the largest unsecured creditors of Welded Construction, LP (Case No. 18-12378 (KG) Bankr. D. Del.) and a member of the official committee of unsecured creditors.

Official and Ad Hoc Committees - Equity

• Co-counsel to the Ad Hoc Committee of Shareholders of Hertz Global, Inc. (Case No. 20-11218 (MFW) Bankr. D. Del.).
• Co-counsel to an ad hoc committee of equity security holders of Quorum Health Corporation (Case No. 20-10766 (KBO) Bankr. D. Del.).
• Co-counsel to the Official Committee of Equity Security Holders of VIVUS, Inc. (Case No. 20-11779 (LSS) Bankr. D. Del.). The restructuring was named “Restructuring of the Year ($100MM to $500MM)” by The M&A Advisor.
• Counsel to the Official Committee of Preferred Equity Security Holders of Elk Petroleum, Inc. (Case No. 19-11157 (LSS) Bankr. D. Del.).

Secured Credit and Debtor in Possession Lenders

• Co-counsel to the second lien lender of FSPH, Inc. and its debtor affiliates (Case No. 22-10575 (CTG) Bankr. D. Del.).
• Counsel to the largest secured creditor of Ex-Cell Home Fashions, Inc. and its debtor affiliates (Case No. 21-11138 (MFW) Bankr. D. Del.).
• Co-counsel to the stalking horse bidder and DIP lender to YogaWorks, Inc. and its debtor affiliate (Case No. 20-12599 (KBO) Bankr. D. Del.).
• Counsel to a competing debtor-in-possession financing lender in the cases of Apex Linen Service LLC and its debtor affiliates (Case No. 20-11774 (LSS) Bankr. D. Del.).
• Co-counsel to an ad hoc crossholder group of secured creditors in the chapter 11 cases of RentPath Holdings, Inc. and its debtor affiliates (Case No. 20-10312 (BLS) Bankr. D. Del.).
• Co-counsel to the largest secured creditor of GigaMedia Access Corporation (Case No. 19-12537 (KBO) Bankr. D. Del.)
• Co-counsel to the prepetition lender in the chapter 11 case of L.K. Bennett U.S.A., Inc. (Case No. 19-10760 (JTD) Bankr. D. Del.).
• Co-counsel to an ad hoc group of senior lenders in the prepackaged chapter 11 cases of Dixie Electric, LLC and its debtor affiliates (Case No. 18-12477 (KG) Bankr. D. Del.).
• Co-counsel to the debtor-in-possession lender to VER Technologies HoldCo LLC and its debtor affiliates (Case No. 18-10834 (CSS) Bankr. D. Del.).
• Co-counsel to prepetition secured lender to EV Energy Partners, L.P. and its debtor affiliates (Case No. 18-10814 (CSS) Bankr. D. Del.).
• Co-counsel to the debtor-in-possession lender to Remington Outdoor Company, L.P. and its debtor affiliates (Case No. 18-10684 (BLS) Bankr. D. Del.).
• Co-counsel to the ABL lender to The Bon-Ton Stores, Inc. and its debtor affiliates (Case No. 18-10248 (MFW) Bankr. D. Del.).
• Co-counsel to the prepetition secured lender to Samson Resources Corporation (Case No. 15-11934 (CSS) Bankr. D. Del.)

Trustees

• Counsel to the chapter 11 trustee appointed in the cases of Tough Mudder Incorporated and its debtor affiliate (Case No. 20-10036 (CSS) Bankr. D. Del.).
• Co-counsel to the chapter 11 trustee appointed in the cases of PWR Invest, L.P. and its debtor affiliates (Case No. 19-11164 (JTD) Bankr. D. Del.).

Asset Purchasers

• Counsel to the purchaser of certain assets of Home Products International, Inc. and its debtor affiliates (Case No. 22-06276 (JB) Bankr. N.D. Ill.).
• Co-counsel to a bidder for substantially all of the assets of Bayou Steel BD Holdings, L.L.C. and its debtor affiliates (Case No. 19-12153 (KBO) Bankr. D. Del.).
• Co-counsel to the purchaser of substantially all of the assets of Promise Healthcare Group, LLC and its debtor affiliates (Case No. 18-12491 (CSS) Bankr. D. Del.).

Other Parties in Interest

• Counsel to two of the largest subcontractors of JAB Energy Solutions II, LLC (Case No. 21-11226 (CTG) Bankr. D. Del.).
• Counsel to a midstream counterparty and one of the largest unsecured creditors of Ultra Petroleum Corp. and its debtor affiliates (Case No. 20-32631 (MI) Bankr. S.D. Tex.).
• Counsel to certain defendants of preference actions brought by the chapter 7 trustee of Bayou Steel BD Holdings, L.L.C. and its debtor affiliates (Case No. 19-12153 (KBO) Bankr. D. Del.).

Honors & Recognitions

Selected for inclusion in the list of Best Lawyers, Ones to Watch, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, Wilmington DE Area, 2021-2024.

The Best Lawyers list is issued by Woodward/White, Inc. A description of the selection methodology can be found at https://www.bestlawyers.com/About/MethodologyBasic.aspx.

No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

Community & Professional

• American Bankruptcy Institute
  • Co-Chair and Executive Board Member, Bankruptcy Litigation Committee
  • Member, Business Reorganization Committee
  • Member, Secured Credit Committee
  • Member, Unsecured Trade Creditor Committee

• Delaware Bankruptcy American Inn of Court
  
  • Barrister
• Turnaround Management Association
• Federal Bar Association
• St. Thomas More Society