Monique D. Almy
Overview
Focusing primarily on corporate bankruptcy, restructuring, and other insolvency-related matters, with an emphasis on creditors’ rights, Monique Almy has practiced for more than 35 years. Her extensive experience in the representation of lender syndicates, institutional investors, financial institutions, and other parties in bankruptcy cases, out-of-court workouts, enforcement of remedies, and related litigation has made her an established and recognized leader in her practice area. Monique regularly represents secured and unsecured creditors, debtors, lessors, and committees in bankruptcy cases throughout the country. She also has experience acting as a court-appointed fiduciary.
Career & Education
- U.S. Bankruptcy Court for the District of Maryland
Chapter 7 Trustee, 1997
- U.S. Bankruptcy Court for the District of Maryland
- University of Delaware, B.A., honors program, 1984
- University of Baltimore School of Law, J.D., cum laude
managing editor, Law Review , 1987
- District of Columbia
- Maryland
- Maryland Court of Appeals
- U.S. Bankruptcy Court for the District of Maryland
- U.S. District Court for the District of Columbia
- U.S. District Court for the District of Maryland
Professional Activities and Memberships
- American Bankruptcy Institute
- Bankruptcy Bar Association
- Maryland State Bar
Monique's Insights
Client Alert | 4 min read | 07.25.23
Avoid the Surprise: Assessing and Addressing Preference Risk
There are few things as daunting to a vendor or supplier as its counterparty’s bankruptcy. The likelihood of a significantly discounted recovery for goods and services provided and potential loss of a customer may have long-lasted impacts on profitability. Even worse, however, is the prospect that payments received in good faith prior to a debtor’s bankruptcy filing may be at risk of recoupment. In this alert, we address the risk that such payments are voidable as preferential transfers. Section 547 of the Bankruptcy Code codifies the power of the debtor to recover payments that were made within the 90 days preceding the filing. Very generally, a debtor (or trustee) may recover any transfer that is (i) made to or for the benefit of a creditor (e.g., a payment or grant of lien), (ii) on account of antecedent debt (i.e., a debt already incurred), (iii) made while the debtor was insolvent, (iv) within the 90 days prior to the petition date (or one year for insiders), and (v) that enables the creditor to receive more that it would have in a liquidation. The parties’ respective intent is irrelevant.
Firm News | 10 min read | 06.01.23
Press Coverage | 06.15.22
SCOTUS Ruling On US Trustee Fees Shows Reluctance On Remedy Issue
Firm News | 9 min read | 06.01.22
Chambers USA 2022 Ranks 70 Crowell & Moring Lawyers and 37 Practice Areas Among Best in U.S.
Representative Matters
Litigation
- Appointed as the Trustee for BioniCare, which manufactured and sold medical devices featuring a unique technology for pain relief. After months of difficult negotiations, the court approved a multi-million dollar sale and unique settlement structure based on the pre-bankruptcy debt documents. In re BioniCare Medical Technologies, Inc., No. 07-16902 (Bankr. D. Md.).
- Appointed as the Trustee for Insurance Payment Plan after litigation over an involuntary bankruptcy petition and related state court insurance receivership proceedings. In re Insurance Payment Plan, Inc., No. 12-28460 (Bankr. D. Md.).
- Served as lead counsel for government contractor, Alsalam Aircraft Company in dealing with international issues arising in connection with the Aveos insolvency proceedings in Canada. In re Aveos Fleet Performance Inc., No. 500-11-042345-120 (Superior Court, Province of Quebec, District of Montreal).
- Served as lead counsel for FNC Title Services, LLC in investigating a matter of hacking from a foreign entity and the recovery of lost funds. Due to quick action and assistance from the Crowell team, 100 percent of the missing funds were recovered.
- Served as special counsel to debtors national bankruptcy proceedings for several matters, including guidance and counseling on a variety of insolvency and bankruptcy issues, participating in and coordinating negotiations and litigation (both inside and outside of bankruptcy court) with primary bankruptcy counsel, and counseling on multi-district and cross border issues. In re Nortel Networks, Inc., No. 09-10138 (Bankr. D.Del.); In re Tribune Company, No. 08-13141 (Bankr. D.Del.); In re Eastman Kodak Company, No. 12-10202 (Bankr. S.D.N.Y.).
- Appointed as Chapter 7 Trustee for a government contractor that refurbished aircraft and served as lead counsel during the auction process and resulting settlement. In re Aerospace Manufacturing, No. 08-15901 (Bankr. D. Md.).
- Represented Hitachi in defending a preference action in which the demand was more than $700,000. This matter was more complex than most due to the nature of the relationships between Hitachi and the various MPC entities, which pre-dated the various acquisition/spin-off transactions by Micron and Gateway. In re MPC Computers, LLC, et al., No. 08-12667 (Liquidating Trustee v. Hitachi Data Systems Corp., Adv. Pro. 10-54505) (Bankr. Del.).
Transactional
- Represented the lead pre-petition and DIP lender and agent of a billion dollar, syndicated credit facility to a major business in the airline industry. In re US Airways Inc.
- Represented the lead pre-petition and DIP lender and agent of a several hundred million dollar syndicated credit facility to a group of debtors that provides national rail system services. In re Railworks Corporation.
- Represented the lead pre-petition and DIP lender and agent of a multimillion-dollar, syndicated credit facility to a group of debtors that provide metal processing services. In re Lombard Acquisitions, LLC.
Monique's Insights
Client Alert | 4 min read | 07.25.23
Avoid the Surprise: Assessing and Addressing Preference Risk
There are few things as daunting to a vendor or supplier as its counterparty’s bankruptcy. The likelihood of a significantly discounted recovery for goods and services provided and potential loss of a customer may have long-lasted impacts on profitability. Even worse, however, is the prospect that payments received in good faith prior to a debtor’s bankruptcy filing may be at risk of recoupment. In this alert, we address the risk that such payments are voidable as preferential transfers. Section 547 of the Bankruptcy Code codifies the power of the debtor to recover payments that were made within the 90 days preceding the filing. Very generally, a debtor (or trustee) may recover any transfer that is (i) made to or for the benefit of a creditor (e.g., a payment or grant of lien), (ii) on account of antecedent debt (i.e., a debt already incurred), (iii) made while the debtor was insolvent, (iv) within the 90 days prior to the petition date (or one year for insiders), and (v) that enables the creditor to receive more that it would have in a liquidation. The parties’ respective intent is irrelevant.
Firm News | 10 min read | 06.01.23
Press Coverage | 06.15.22
SCOTUS Ruling On US Trustee Fees Shows Reluctance On Remedy Issue
Firm News | 9 min read | 06.01.22
Chambers USA 2022 Ranks 70 Crowell & Moring Lawyers and 37 Practice Areas Among Best in U.S.
Recognition
- Lawdragon: Leading U.S. Bankruptcy and Restructuring Lawyers, 2022-2023
- Chambers USA: Bankruptcy, Washington, D.C., 2014-2022
- Best Lawyers in America: Bankruptcy and Creditors’ Rights Law, 2022
- Maryland Super Lawyers, 2022
- Washingtonian magazine’s Bankruptcy—Creditors and Debtors Turn to These Lawyers feature, 2020
Monique's Insights
Client Alert | 4 min read | 07.25.23
Avoid the Surprise: Assessing and Addressing Preference Risk
There are few things as daunting to a vendor or supplier as its counterparty’s bankruptcy. The likelihood of a significantly discounted recovery for goods and services provided and potential loss of a customer may have long-lasted impacts on profitability. Even worse, however, is the prospect that payments received in good faith prior to a debtor’s bankruptcy filing may be at risk of recoupment. In this alert, we address the risk that such payments are voidable as preferential transfers. Section 547 of the Bankruptcy Code codifies the power of the debtor to recover payments that were made within the 90 days preceding the filing. Very generally, a debtor (or trustee) may recover any transfer that is (i) made to or for the benefit of a creditor (e.g., a payment or grant of lien), (ii) on account of antecedent debt (i.e., a debt already incurred), (iii) made while the debtor was insolvent, (iv) within the 90 days prior to the petition date (or one year for insiders), and (v) that enables the creditor to receive more that it would have in a liquidation. The parties’ respective intent is irrelevant.
Firm News | 10 min read | 06.01.23
Press Coverage | 06.15.22
SCOTUS Ruling On US Trustee Fees Shows Reluctance On Remedy Issue
Firm News | 9 min read | 06.01.22
Chambers USA 2022 Ranks 70 Crowell & Moring Lawyers and 37 Practice Areas Among Best in U.S.
Monique's Insights
Client Alert | 4 min read | 07.25.23
Avoid the Surprise: Assessing and Addressing Preference Risk
There are few things as daunting to a vendor or supplier as its counterparty’s bankruptcy. The likelihood of a significantly discounted recovery for goods and services provided and potential loss of a customer may have long-lasted impacts on profitability. Even worse, however, is the prospect that payments received in good faith prior to a debtor’s bankruptcy filing may be at risk of recoupment. In this alert, we address the risk that such payments are voidable as preferential transfers. Section 547 of the Bankruptcy Code codifies the power of the debtor to recover payments that were made within the 90 days preceding the filing. Very generally, a debtor (or trustee) may recover any transfer that is (i) made to or for the benefit of a creditor (e.g., a payment or grant of lien), (ii) on account of antecedent debt (i.e., a debt already incurred), (iii) made while the debtor was insolvent, (iv) within the 90 days prior to the petition date (or one year for insiders), and (v) that enables the creditor to receive more that it would have in a liquidation. The parties’ respective intent is irrelevant.
Firm News | 10 min read | 06.01.23
Press Coverage | 06.15.22
SCOTUS Ruling On US Trustee Fees Shows Reluctance On Remedy Issue
Firm News | 9 min read | 06.01.22
Chambers USA 2022 Ranks 70 Crowell & Moring Lawyers and 37 Practice Areas Among Best in U.S.