Senior Partner
Togut, Segal and Segal LLP
A Disciple of Conrad Duberstein
`41
Albert Togut `74, is just one of six bankruptcy professionals
recognized in the 2009 Top 100 Super Lawyers in New York. “My
firm is unique; there is no other like it. And we have had
the good fortune to work on the most sophisticated and complex
cases that have ever been filed under Chapter 11 of the Bankruptcy
Code. We represented the debtor corporations in Chrysler
Auto, Rockefeller Center, Enron, Olympia & York World Financial
Center, Daewoo, Charter Communications, St. Vincent’s Hospital, and
I could go on and on. I am also the Trustee of the largest
Chapter 7 bankruptcy case ever, Refco LLC, and have distributed
more than $4 billion to creditors of that estate. As a young
lawyer, I thought if I ever had the opportunity to work in only one
of those cases, my career would have been a complete success.
I have had the opportunity to work on more than 20 of them,” noted
Togut.
Recently Mr. Togut reflected on his years as a student at St.
John’s Law School, “The driving force behind my desire to be an
attorney was to go into business, not law. At the time, I
felt that a law degree would be very helpful and in fact, many CEOs
had law degrees. I chose St. John’s because of its excellent
reputation and its convenience to where I lived. I was newly
married and the school was only ten minutes from my
apartment. St. John’s Law School is a no-nonsense school
filled with hard working people, none of whom were born with a
silver spoon in their mouth. I was blessed with many terrific
professors and particularly, Bankruptcy Judge Edward J. Ryan who
was my bankruptcy law Professor. He got me very excited about
the area of law that was to become my specialization. In my
second year at St. John’s, I had the good fortune of meeting Conrad
Duberstein who was clearly one of the most successful of the
School’s alumni and highly regarded as a bankruptcy
specialist. He offered me a summer job after my second year
at St. John’s and in a short span of time, I was smitten by Connie
and bankruptcy law. It is important to understand that at
that time, hardly anyone knew what a bankruptcy lawyer was or did,
and when I was offered a full-time position at Connie’s Park Avenue
law firm and told my classmates that I would be concentrating on
the practice of bankruptcy law, no one knew what that meant.
I stayed with Connie for six years but as each year passed, my
desire to try my hand at starting my own firm only grew.”
On the topic of mentoring and working with a seasoned professional
practitioner Mr. Togut shared, “The early days of my practice were
spent working with my mentor, Connie Duberstein, whose knowledge of
bankruptcy law was broad and deep. That meant that when
Connie said to me, `Al, I have an interesting question of law for
you to research,’ there was no readily apparent answer and the
research would be difficult; otherwise, he already knew the
answer and didn’t need my help. I thrived on the challenge
and found every problem he presented to me intellectually
stimulating. When I was able to find the answer, I felt
professionally rewarded. In time, my practice skills improved
so much that Connie allowed me to be his second chair on important
cases, and I worked closely with him, side by side, on the most
fascinating matters of the day. I also got to meet and
develop relationships with the other bar leaders with whom I enjoy
friendships today. It is hard to place a value on a mentoring
relationship because it is a priceless experience. At
present, I am active in a number of organizations including the
American Bankruptcy Institute where I am a member of its Board, the
American College of Bankruptcy and the International Insolvency
Institute. I try each day to mentor young lawyers. In
between, I practice law.”
Mr. Togut offered this advice to the Class of 2010, “When I
graduated in 1974, the economy was in recession and right now it is
again. St. John’s has a disproportionately large presence in
the world of bankruptcy and many successful alumni. You could
do well concentrating in bankruptcy law and you should carefully
consider the extraordinary St. John’s masters program.”
When not practicing Law, Mr. Togut enjoys spending time with his
family and is heavily involved in the arts. He is on the
Boards of the Boston Symphony Orchestra and Berkshire International
Film Festival. He is passionate about the environment, enjoys
20-mile bike workouts, traveling, and being with his family.
As Mr. Togut likes to say, “It is important to have balance in your
life and varied interests.”