Otterbourg P.C. announced that David Castleman has joined the firm as a member in the Restructuring and Bankruptcy Department. He comes to Otterbourg from Raines Feldman LLP, where he was a partner.
Castleman’s practice focuses on federal equity receiverships and complex litigation in both state and federal courts. Recognized for his experience in cryptocurrency insolvencies, Mr. Castleman was recently appointed as receiver regarding a $250 million alleged internet-based Ponzi scheme in a case brought by the Commodity Futures Trading Commission in the Southern District of New York. In this, he helped in the recovery of over $100 million for the benefit of claimants, including over $60 million in cryptocurrency held overseas in the first year of the receivership.
“Dave is an impactful lawyer with an impressive track record in a very demanding practice,” said Richard Stehl, Otterbourg’s chairman. “He brings unique skills to Otterbourg that enhance our bankruptcy practice and expands the range of complex cryptocurrency services we provide. We are pleased to welcome Dave to Otterbourg.”
Castleman was previously senior counsel at a prominent litigation boutique firm, working extensively on receivership matters. Earlier, he served as an Assistant Attorney General in the New York Investor Protection Bureau, where he was instrumental in achieving a $714 million global settlement against a major financial institution on behalf of fraud victims. Mr. Castleman contributed substantially to novel strategies by the New York Attorney General to use the Martin Act to hold fossil fuel companies responsible for contributing to climate change. He received his J.D., cum laude and Order of the Coif, from the University of Pennsylvania Law School, where he served as Executive Editor of the Law Review.
“Dave will be a valuable addition to our practice, strengthening our fiduciary and receivership practice, and enhancing the services provided by Erik Weinick and Phil Berg in crypto currency forensics,” said Melanie Cyganowski, Chair of the firm’s Restructuring and Bankruptcy Department and former Chief Judge of the Eastern District Bankruptcy Court.
Otterbourg’s Restructuring and Bankruptcy group specializes in the representation of stakeholders of all types in connection with insolvency matters throughout the United States, as well as insolvency matters that may involve other jurisdictions in Europe, Asia and Latin America. The practice provides legal services in all areas of debtor and creditors’ rights including the review of contracts, restructuring agreements, general insolvency issues, strategic planning, and the discovery and analysis of fraud.