Tydings announces that Richard L. Costella has joined the firm as a partner in its bankruptcy/creditors’ rights department.
Mr. Costella’s practice focuses primarily on bankruptcy and creditors’ rights, banking and finance, and commercial litigation. He represents lenders and financial institutions in all aspects of commercial bankruptcy and insolvency proceedings in courts throughout the United States. For example, he represented a secured lender in the Chapter 11 bankruptcy cases of two national candy companies that resulted in the full payment of the lender’s $20 million claim. He also regularly represents clients in state court collection and enforcement actions based on breach of contract and confessed judgment.
In addition to financial institutions, Mr. Costella also represents businesses involved in commercial bankruptcy proceedings. His previous representative matters include representing a national trade bindery in its acquisition of assets out of a Chapter 11 proceeding; representing a secured lender in the acquisition of a regional airport in Chapter 11; and representing a financial institution in the forced sale of multiple real estate developments where, ultimately, the client was paid in full.
Mr. Costella is admitted to practice in Maryland and is a member of the Maryland Bankruptcy Bar Association, American Bankruptcy Institute, and the Chesapeake Chapter of the Turnaround Management Association.
Bill Carrier, the firm’s managing partner, remarks, “Rich’s experience, client base, and community work makes him a natural fit for the firm.” As for Rich, “I am excited to be part of the outstanding team of lawyers at Tydings.”