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John David Folds

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David Folds represents financial institutions, commercial and retail landlords, franchisors, trade creditors, asset purchasers and other entities in all aspects of bankruptcy proceedings.

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Featured Experience

Represented national office developer in connection with headquarters lease in chapter 11 proceedings of multinational telecommunications company in United States Bankruptcy Court for the Southern District of New York.

Representing magazine publisher in connection with reorganization of national magazine distributor in United States Bankruptcy Court for the District of Delaware.

Representing global equipment manufacturer in reorganization of transportation company in the United States Bankruptcy Court for the District of Maryland.

Professional Biography

Overview

Mr. Folds also represents receivers, trustees, and examiners in conducting investigations and pursuing claims regarding financial transactions. He appears in state and federal courts across the Delaware, Maryland and Washington, D.C. area, as well as multiple other jurisdictions.

Mr. Folds served as a law clerk to the Honorable William L. Stocks, Chief Judge of the United States Bankruptcy Court for the Middle District of North Carolina.

Representative Matters
  • Bankruptcy

  • Represented national office developer in connection with headquarters lease in chapter 11 proceedings of multinational telecommunications company in United States Bankruptcy Court for the Southern District of New York.

  • Representing magazine publisher in connection with reorganization of national magazine distributor in United States Bankruptcy Court for the District of Delaware.
  • Representing global equipment manufacturer in reorganization of transportation company in the United States Bankruptcy Court for the District of Maryland.

  • Representing retail landlord in bankruptcy proceedings of national electronics retailer in the United States Bankruptcy Court for the Northern District of Illinois.

  • Representing Chapter 7 Trustee in pursuing claims for misuse of funds by former chief executive officer of privately-held company.
  • Represented mortgagee in all phases of chapter 11 reorganization, including multi-day contested confirmation hearing in Virginia.
  • Represented financial institution as secured creditor at court-supervised auction and in resolving competing claims to proceeds of sale of assets of chain of regional markets.

  • Represented landlord for flagship store in chapter 11 reorganization of national retailer in Delaware.

  • Represented examiner in conducting investigation and evaluating proposed settlement in Chapter 11 proceedings of major national retail bank in Delaware.

  • Representing senior secured lender in single asset real estate case involving multi-family property in the District of Columbia.
  • Represented family partnership in purchasing real property from Chapter 11 estate.
  • Prosecuted approximately 75 voidable transfer claims on behalf of bankruptcy trustee for telecommunications company.

  • Defended Fortune 100 companies in numerous preference and fraudulent transfer actions.
  • Litigation

  • Represented national financial institution in action asserting recourse liability against multi-family borrower and guarantor in United States District Court in Virginia; obtained summary judgment.

  • Represented former chief executive officers of publicly-traded company in shareholders derivative action in Ohio.
  • Represented Sarbanes-Oxley consultant in claims for professional negligence and breach of fiduciary duty in Virginia state court.
  • Represented receiver appointed in Federal Trade Commission action to investigate, locate, and liquidate assets of principals of fraudulent debt counseling company.

  • Representing national financial institution in multi-count litigation with borrower in Connecticut state court.
  • Defended major agricultural distributor in multi-million dollar contract claim brought by producer; obtained summary judgment on all claims.
  • Defended national law firm in claims for professional liability, breach of fiduciary duty and deepening insolvency; obtained summary judgment.
  • Represented Mexican manufacturer in contract dispute with distributor in state and federal courts in North Carolina; obtained summary judgment.

  • Represented national financial institution in title dispute related to loan acquired from FDIC receivership.
  • Represented Korean equipment manufacturer in dispute with distributor; obtained appointment of receiver in state court pending international arbitration.

Professional Honors & Activities
  • Listed in The Best Lawyers in America® in the area of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (2020)
  • Listed in Washington, D.C. Super Lawyers in Bankruptcy: Business (2020)
  • Board of Directors – Washington Lawyers' Committee for Civil Rights and Urban Affairs
  • Board Member – Idjwi Island Education Fund
  • Chair – Pro Bono Committee, Washington, D.C. Office
  • D.C. Bar Pro Bono Honors (2017)
  • Capital Pro Bono High Honor Roll (2012, 2013); Honor Roll (2011, 2014, 2015, 2016)
Speaking Engagements
  • Panelist – "Retail Apocalypse or Transformation? A Look into the Evolving Retail Industry," TMA Houston (February 2018)
  • "Retail Bankruptcies – What You Need to Know," client presentation, Chicago, Illinois (November 2017)
  • "Retail Bankruptcies: What do I need to know?," International Women's Insolvency & Restructuring Confederation, New Orleans (July 2017)
  • "Executory Contracts and Unexpired Leases," Northern Virginia Bankruptcy Bar Association (September 2015)
  • "Chapter 11 Plan Confirmation Issues," Mid-Atlantic Institute on Bankruptcy and Reorganization Practice, Charlottesville, Virginia (September 2015)

Education

  • University of North Carolina at Chapel Hill, J.D., 1993
  • London School of Economics and Political Science, M.S., 1991
  • Sewanee: The University of the South, B.A., 1989

Admissions

  • District of Columbia, 1996
  • North Carolina, 1993
  • Virginia, 1999
  • U.S. Court of Appeals for the District of Columbia Circuit
  • U.S. Court of Appeals for the Fourth Circuit

We had a very complicated transaction and had to involve David Folds. It was extremely complex and complicated, and he was just fantastic. I couldn’t have been happier with the way he handled it and the way it went. I learned a lot through it, and David was the main reason it got done.

Senior Vice President and Director of Asset Management, Large provider of investment banking and mortgage banking services to health care, senior living and housing organizations

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