David B. Stratton
David B. Stratton is co-chairman of Pepper Hamilton’s Corporate Restructuring and Bankruptcy Practice Group and the managing partner of the firm’s Wilmington office. He is a past member of the firm’s Executive Committee.
Mr. Stratton has over 35 years of experience representing debtors, creditors’ committees, secured and individual creditors, and parties-in-interest as both lead and co-counsel in bankruptcy courts in the Districts of Delaware and Maryland, the Southern District of New York and other U.S. bankruptcy courts.
Mr. Stratton is a Fellow of the American College of Bankruptcy. He has been recognized as one of Delaware’s leading bankruptcy practitioners in the 2004-2013 editions of Chambers USA America’s Leading Lawyersfor Business. Mr. Stratton also is listed in The Best Lawyers in America and was selected for inclusion on the 2013 Delaware Super Lawyers list.
Mr. Stratton has served as lead or co-lead counsel to a wide variety of clients across diverse industries, including:
- debtors in Chapter 11 proceedings, including retail, technology, manufacturing, transportation and production companies
- numerous creditors’ committees in bankruptcies involving banking, manufacturing, construction and retail concerns in the District of Delaware
- chairmen and members of creditors’ committees
- creditors, landlords and asset acquirers in Chapter 11 cases involving retail, manufacturing and service businesses
- indenture trustees in bankruptcies in the District of Delaware
- trustees in Chapter 11 and Chapter 7 cases, and serving as trustee.
Significant, recent Chapter 11 proceedings in which Mr. Stratton has been involved include representation of the following:
Debtors (lead or co-counsel)
- Broadband Office, Inc.
- Cynergy Data
- Electroglas, Inc.
- Hawaii Superferry
- Holley Performance Products, Inc.
- iBEAM Corporation
- JHT Holdings, Inc.
- Nutritional Sourcing Corp.
- Power Operating Company
- VecTour, Inc.
- Venture Stores
- Trimark, Inc.
- Trimble Western Furnishings
- Stroud’s, Inc.
Creditors’ Committee (lead or co-counsel)
- American LaFrance
- Evergreen Solar, Inc.
- Everything But Water, Inc.
- Exide Technologies, Inc.
- First Merchant’s Acceptance Corporation
- Foamex, Inc.
- Fruit of the Loom
- Grand Union Company
- Greatwide Logistics Systems, Inc.
- Harnischfeger Industries, Inc.
- Harvard Industries, Inc.
- Harvest Foods, Inc.
- Hechinger’s, Inc.
- Motels of America, Inc.
- Reliance Energy
- Sea Containers Services, Ltd.
- Skybus Airlines, Inc.
- Silo, Inc.
- TIE/Communications, Inc.
- Tropicana Entertainment, LLC (ad hoc committee)
- Washington Mutual, Inc.
Other significant representations include:
- lenders in the bankruptcies of Kash ‘N Karry, PTC Alliance, Inc., Systems Integrators, UDC Homes, US One Communications, and White Energy, Inc.
- chairman of creditors’ committee, Acme Steel
- franchisees’ committee, Days Inn
- member of creditors’ committee, Montgomery Ward
- member of creditors’ committee, Spectravision
- plan proponent, Marvel Entertainment
- provisional liquidators of four insurance companies in ancillary proceedings in the Southern District of New York.
Mr. Stratton also has experience representing secured creditors in bankruptcy proceedings, including the use of cash-collateral, post-petition secured lending, motions for relief from stay, motions for adequate protection for use of collateral, motions for the dismissal or conversion of Chapter 11 proceedings, and advice to secured creditors concerning treatment of their claims under plans of reorganization.
Mr. Stratton serves as a director of several charitable business institutions in the Wilmington area.
A.B. 1975, magna cum laude, Gettysburg College
J.D. 1978, cum laude, University of Pittsburgh School of Law; associate articles editor, University of Pittsburgh Law Review
Admitted to practice in Delaware