Hollace Topol Cohen


E: hollace.cohen@fisherbroyles.com

T: (917) 365-4871

M: (917) 365-4871

F: (212) 423-0618

New York Office


Hollace Topol Cohen

Practice Areas

  • Bankruptcy & Restructuring
  • Commercial Transactions
  • Energy/Oil & Gas Law
  • Financial Services & Lending
  • FinTech and Blockchain
  • General Corporate
  • Intellectual Property
  • International
  • Mediation
  • Securities & Private Equity

Bar Admissions

  • New York

Court Admissions

  • U.S. District Court for the Southern District of New York


  • New York University School of Law, J.D., 1972
  • City College of the City University of New York, B.A., magna cum laude, 1969

Large Law Firm Experience

  • Troutman Sanders LLP
  • Jenkens & Gilchrist Parker Chapin LLP
  • Winston & Strawn
  • Whitman Breed Abbott & Morgan

Hollace Cohen has practiced in the bankruptcy and corporate restructuring areas for over 40 years representing creditors’ committees, bondholders, indenture trustees, debtors, secured and unsecured lenders, debtor-in-possession lenders, lessors, lessees, and trade creditors in numerous proceedings under the Bankruptcy Act and Bankruptcy Code.  She has extensive experience in representing debtors, indenture trustees and bondholders in out-of-court restructurings and in the negotiation and drafting of prepackaged plans.

Hollace has represented bidders and acquirers of assets in numerous bankruptcy proceedings.  Hollace has represented licensees of intellectual property in bankruptcy cases and advised licensees in the drafting of agreements with a view to protecting their rights in a bankruptcy case. Hollace also provides advice with respect to the drafting and treatment of forward contracts, swap agreements and other financial contracts under the United States Bankruptcy Code, federal banking laws, the New York State Banking Law and Title II of the Dodd-Frank Act.  Hollace is listed on the register of mediators maintained by the Bankruptcy Court for the Southern District of New York.

Representative Transactions Include

  • Representation of the Ad Hoc Committee of Yosemite/CLN Noteholders in the Enron Corp., et al. Chapter 11 cases.  Hollace was instrumental in the formation of the Enron North America Corp. Subgroup on which she participated on behalf of her client.  The ENA Subgroup worked with the ENA Examiner in the negotiation of the Enron plan of reorganization.
  • Representation of the Ad Hoc Steering Committee of Unsecured Creditors of Fairfield Residential LLC, et al.
  • Representation of the Official Committee of Unsecured Creditors in the chapter 11 cases of American Pad & Paper LLC, Hedstrom Holdings, Inc. and eLot, Inc., each of which resulted in successful reorganizations.
  • Representation of the Ad Hoc Committee of Secured Bondholders in the Chapter 11 case of Senior Living Choices, Inc., the owner of a continuing care retirement community.  In that case the secured bondholders’ competing plan of reorganization was confirmed by the bankruptcy court.
  • Representation of the Debtor-in-Possession Lender in the Adelphia Business Solutions, Inc. Chapter 11 case, in which the DIP Lender obtained a priming lien on the debtor’s assets.
  • Representation of the debtors in the Perkins and Marie Callender’s Inc., Rocky Mountain Helicopters, Inc. and Andover Togs, Inc. Chapter 11 cases.
  • Representation of the Official Committee of Equity Security Holders in the Public Service Company of New Hampshire Chapter 11 case, in which the equity security holders received debt securities under the plan.
  • Representation of the Official Committee of Retirees in the Lone Star Industries, Inc. Chapter 11 case, which resulted in the retirees receiving most of their health benefits under the plan of reorganization.
  • Representation of defendants in the avoidance litigation brought against stockholders and custodians in the Tribune Company Fraudulent Transfer Litigation, and in the Lyondell Chemical Company et al. Chapter 11 cases.
  • Representation of the ad hoc committee of bondholders in the Ames Department Stores, Inc., G. Heileman Brewing Company, Inc., Fishers Big Wheel, Inc. and Highland Superstores, Inc. Chapter 11 cases.
  • Representation of the indenture trustee for the Texas Competitive Electric Holdings Company LLC Senior Secured Second Lien Notes in the Energy Future Holdings Corp., et al. Chapter 11 cases.
  • Representation of the Indenture Trustee and Collateral Agent for the Floating Rate First Priority Senior Secured Notes in the Ion Media Network, Inc., et al. Chapter 11 cases.
  • Representation of the indenture trustee for the Convertible Senior Debentures in the LandAmerica Financial Group, Inc., et al. Chapter 11 cases.
  • Representation of indenture trustees in numerous other chapter 11 cases including, The Claridge Hotel and Casino Corporation, Apex Silver Mines Limited, The Penn Traffic Company, Lionel Corporation, John Mansville Corporation, The Charter Company, Frontier Airlines Inc., Continental Airlines, Inc., SPI Holdings, Inc. and Spectravision, Inc.  Representation of the indenture trustee in the Equity Funding Corporation of America and W.T. Grant Company proceedings under the Bankruptcy Act.
  • Representation of creditors in the Lehman Brothers Holdings, Inc., et al. (“Lehman”) Chapter 11 cases, including counterparties to derivative contracts and a foreign bank that brought an adversary proceeding against Lehman and Lehman Brothers, Inc. with respect to a foreign currency transaction.
  • Representation of customers and creditors of Lehman Brothers, Inc. and MF Global, Inc. in their respective SIPA proceedings.
  • Representation of equipment lessors in numerous Chapter 11 cases, including Midway Airlines, Inc., Delta Airlines, Inc., Itel Corporation, Itel Rail Corporation, North American Car Corporation and CIS Corporation.
  • Representation of the stalking horse bidder in its acquisition from Mirant New York, Inc. of the 100% membership interest of Mirant NY-Gen LLC, the owner of five hydro electric power plants in upstate New York, in the Mirant Corp., et al. Chapter 11 cases.
  • Representation of a bidder for the purchase of an unfinished power plant in the Calpine Corporation Chapter 11 case which was awarded a multi-million dollar bidding incentive fee as the unsuccessful bidder.
  • Represented several utilities in the Calpine Corporation cases, including with respect to a tolling agreement, power purchase agreements and derivative trading contracts.

Presentations & Teaching Experience

  • Speaker, ABA Business Law Section, Committee on Trust Indentures and Indenture Trustees, “Current Issues Impacting Indenture Trustees,” ABA Business Law Section Annual Meeting, September 18, 2015.
  • Speaker, Troutman Sanders LLP Seminar, “2015 Legal Update: The Impact of Recent Developments on Structuring Deals, Recent Developments Affecting Secured Lenders in Bankruptcy Cases and Workouts,” February 9, 2015.
  • Speaker, University of Richmond Law Review’s 2011 Allen Chair Symposium, presenting on the “Orderly Liquidation Authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act”.  April 6, 2011.
  • Speaker, ABA Business Bankruptcy Committee Webinar, “The New Financial Reform Act What Does It Mean? Concerning Title VII of the Dodd-Frank Act Regulation of Over-the-Counter Derivatives”, August 11, 2010.
  • Speaker, Troutman Sanders LLP Webinar, “The Dodd-Frank Wall Street Reform and Consumer Protection Act, Title II–Orderly Liquidation Authority,” July 29, 2010.
  • Speaker, IECA Summer 2005 Meeting, Presentation to the Gas, Liquid & Electricity Credit Group entitled “The 2005 Bankruptcy Act: Forward Contracts, Swap Agreements and Master Netting Agreements, Oh, My.”


  • “Pre-Plan Settlements Post-Jevic – Jevic’s Impact on the Absolute Priority Rule and Other Core Bankruptcy Principles” Norton Journal of Bankruptcy Law and Practice, Vol. 27, No.1 (February 2018).
  • “Is the Absolute Priority Rule Alive and Well? Jevic Threatens the Rule and Other Core Bankruptcy Principles” Norton Journal of Bankruptcy Law and Practice, Vol. 26, No.1 (February 2017).
  • “Optim Energy Ch. 11 Ruling Optimal For Equity Investors,” Bankruptcy Law 360, October 14, 2015.
  • “The Trust indenture Act’s New Relevance to Out-of-Court Restructurings,” Troutman Sanders Advisory, February 2015.
  • “The Continuing Search for Indubitable Equivalence,” Norton Annual Survey of Bankruptcy Law, 2013.
  • “Orderly Liquidation Authority: A New Insolvency Regime to Address Systemic Risk, University of Richmond Law Review, Vol. 45, No. 4 (May 2011).
  • “Is the Philadelphia Newspapers, LLC Decision the Death Knell to Credit Bidding in a Sale Under a Plan?” Norton Journal of Bankruptcy Law and Practice, Vol. 20, No 1. (2011).
  • “The Absolute Priority Rule Revisited—How Absolute Is It?” Norton Journal of Bankruptcy Law and Practice, Vol. 18, No. 3. (2009)
  • “Mandatory Subordination Has Its Limits,” Norton Annual Survey of Bankruptcy Law, 2007.
  • “Equitable Subordination’s New Frontier: No Equity for Good Faith Transferees, “Norton Journal of Bankruptcy Law and Practice, Vol. 15, No.3 (2006).
  • “In re Armstrong World Industries, Inc.: Absolute Priority Reigns Supreme,” Annual Survey of Bankruptcy Law, 2005.
  • “Director and Officer Liability Policies – Will the Proceeds be Available to the Debtor Estate?” 2003 Annual Survey of Bankruptcy Law.
  • “Adventures in Subordination, An Uncertain Terrain,” 2002 Annual Survey of Bankruptcy Law.

Rankings and Recognitions

  • Listed in Law & Politics’ New York Super Lawyers – Metro Edition (2006-2009, 2014-2015) for excellence in Bankruptcy & Creditor/Debtor Rights
  • Selected for inclusion in the July/August 2010 Law & Politics’ Super Lawyers, Corporate Counsel Edition.
  • AV® Preeminent™ Rating with LexisNexis/Martindale Hubbell.