For the past 45 years, Albert Togut has specialised in bankruptcy law to the exclusion of all other areas of practice. In 1980, he formed his nationally recognised bankruptcy boutique. The firm has served as debtor’s counsel in Chapter 11 cases such as Latam Airlines, Westinghouse, McClatchy, General Motors, Chrysler Automotive and Enron. Al is a fellow of the American College of Bankruptcy and the International Insolvency Institute, and has received many honours.
What inspired you to specialise in bankruptcy law?
I was lucky to work for a giant in the field, Conrad Duberstein, whose love for the area was infectious.
What do you enjoy most about cross-border restructuring work?
Harmonising different jurisdictions’ laws so that they work together. Also, the high quality of the people involved in the case.
What are the challenges facing international restructuring and insolvency practices currently?
The largest challenge is the pandemic that is jeopardising the ability to save companies.
As restructurings become increasingly global in nature, what qualities must lawyers practising in the area possess?
An understanding of the world and an ability to achieve consensus.
As managing partner, what are your main priorities for the firm’s development over the next few years?
To continue performing at the highest level. We have earned a reputation for integrity, honesty and an ability to get people to agree to a solution. I do not want growth to dilute that in any way.
Your distinguished career spans more than four decades. What would you like to achieve that you have not yet accomplished?
To have my career span five decades.
What advice would you give to younger lawyers hoping to one day be in your position?
Find a mentor. Work hard and then work harder.