Stinson Leonard Street LLP has added Thomas J. Salerno to the firm’s Bankruptcy and Creditors’ Rights practice group as a partner in the firm’s Phoenix office.
Salerno has been involved in high-profile restructuring cases around the world. He served as lead counsel for the Phoenix Coyotes of the National Hockey League in the landmark negotiation and sale of the team through a Chapter 11 bankruptcy. The case was the first time in the 90-year history of the NHL that the league purchased one of its franchises. He also served as restructuring counsel for Snyder’s Drug Stores, Inc., a nationwide chain of retail drug stores.
Salerno has significant international experience as well. He headed the U.S. delegation to the Czech Republic in advising the Czech Government in the historic revamping of its bankruptcy law and served as an adviser during the revamping of the insolvency laws in the Dominican Republic and Costa Rica. He was a member of the UNCITRAL working group on its Insolvency Law Reform Project and served as an expert witness on U.S. insolvency law in Germany. He has taught Comparative International Insolvency at the University of Salzburg. He is currently an adjunct professor at the Sandra Day O’Connor College of Law teaching both Bankruptcy Litigation and Advanced Chapter 11 Bankruptcy. He comes to the firm after previously practicing at Gordon Silver and Squire Sanders. Associate Anthony Cali joins Salerno at Stinson Leonard Street.
Salerno represents distressed companies, acquirers and creditors in financial restructurings and bankruptcy proceedings, pre- and post-bankruptcy workouts, and corporate recapitalizations. He represents clients in industries such as casinos, resort hotels, real estate, high-tech manufacturing, electricity generation, agribusiness, construction, healthcare, airlines and franchised fast-food operations.
“It is not every day you have the opportunity to add an attorney with Tom’s level of experience and skills,” said Mike Manning, managing partner of the firm’s Phoenix office. “Tom’s deep understanding of bankruptcy law combined with his commitment to proving exemplary value and client service is a natural fit with our firm. Both our clients and attorneys will benefit from his years of outstanding work. We are thrilled to have him on our team.”
Salerno served as a director of the American Bankruptcy Institute, where he also served on the executive committee, and formerly was a director of the American Bankruptcy Board of Certification, Inc. He is a past chair of the Bankruptcy Section of the State Bar of Arizona and a Fellow of the American College of Bankruptcy. He was twice named one of the 12 Outstanding Bankruptcy Attorneys by Turnarounds & Workouts and is one of a select group of insolvency professionals listed in the K&A Restructuring Professionals Registry.
Salerno earned a law degree from the Notre Dame Law School and his undergraduate degree from Rutgers University.
