Douglas R. Gooding
Department Co-Chair - Business
Douglas Gooding is co-chair of Choate’s Business Department and has more than 25 years of experience advising on financing and restructuring transactions, particularly on debtor-in-possession lending and the representation of holders of senior, second lien, and mezzanine debt in complex restructurings. He also specializes in advising troubled companies in various industries including healthcare and retail. Doug also has extensive experience in mass tort bankruptcy cases representing insurance providers.
Doug has appeared in courts throughout the United States and in Canada and has been appointed as mediator in several bankruptcy disputes.
- Best Lawyers in America (2023)
- Boston Magazine Top Lawyer in Bankruptcy and Workout (2021-2022)
- Fellow of the American College of Bankruptcy
- LawDragon 500 Leading U.S. Bankruptcy and Restructuring Lawyers (2020)
- Chambers USA (2004-2022)
- Counsel to lender owed $190 million secured by multi-family complexes in Massachusetts, Florida, Georgia, and Texas.
- Lead counsel to lessor in $150 million leveraged railcar lease transaction and workout relating to bankruptcy of The CIT Group.
- Lead counsel of purchasers in Section 363 sales including in food, retail, and drug industries.
- Counsel to senior lender in workout involving fractional share ownership aviation company.
- Represented debtor-in-possession lenders in numerous retail bankruptcy cases in Delaware, New York, Maryland, Connecticut, and Illinois.
- Representation of insurers in numerous bankruptcy cases throughout U.S. relating to collateral, surety, and premium disputes as well as alleged asbestos, toxic tort, and hazardous waste liabilities. Cases include: Nortel Networks (USA and Canada), Borders Books, General Growth Properties, Catholic Diocese of Wilmington, Filene’s Basement, Armstrong World Industries, Owens Corning, and U.S. Airways.
- Advised Fortune 250 company on its company-wide collateral and security documentation.
- Successfully represented law firm against claims of legal malpractice relating to documentation of loans.
- Served as mediator and successfully resolved dispute between liquidating trustee in bankruptcy and insurance company.
- Lead counsel to Creditors’ Committee in case with over $1 billion in debt.
- Lead counsel to portfolio companies in out of court restructurings of companies in industries ranging from contract manufacturing to national dry cleaning chain to operator of sleep disorder centers.
- Counsel to holders of $50 million in sub debt which commenced involuntary bankruptcy proceeding against manufacturer of household appliances.
- Representation of software companies in cases throughout the country in efforts to protect and enforce rights under licenses.
- Representation of sellers and purchasers of assets in bankruptcy in industries ranging from retail, auto parts, home healthcare, food, photo imaging, and advertising.
- Representation of retailers in workout matters and pre-bankruptcy planning.
- Lead lawyer in several reported decisions, including:
Liberty Mutual Insurance Co. v. Greenwich Insurance Co., 1st Cir.; Fish Market Nominee Corp. v. Pelofsky, 1st Cir.; and In re Moon, SDNY.
Publications and Presentations
- “United States Bankruptcy Court 2019 Summer Associate Reception,” program chair, Boston Bar Association, June 2019.
- “Chapter 11 Plans: The Role of Committees in Plan Formulation,” speaker, ABI Northeast Conference, July 2018.
- "Pendulum Swings Back Toward Lenders in Credit Bidding Disputes," co-author, Journal of Corporate Renewal, December 2016.
- "Appeal Issues and Equitable Mootness Revisited," panelist, 26th Annual Bankruptcy Bench Meets Bar Conference, May 2016.
- “1st Circ. Injects Uncertainty Into Stay Relief Denials,” co-author, Bankruptcy Law360.
- “Cash Collateral and Incurring Debt,” co-author, Bankruptcy Practice in Massachusetts, Massachusetts Continuing Legal Education.
- “How Fisker Changes the Bankruptcy Asset Sale Landscape,” co-author, Bankruptcy Law360.
- “Foreclosure & Bankruptcy: Offensive and Defensive Xs & Os Before & During Litigation,” moderator, 3rd Annual Real Estate General Counsel Forum East.
- “The Art and Styles of Bankruptcy Negotiations,” speaker, ABI Northeast Conference.
- “‘Free and Clear’ Means Free and Clear,” co-author, Bankruptcy Law360.
- “Q&A With Choate’s Doug Gooding,” featured, Bankruptcy Law360.
- “Debtor’s Counsel, Be Careful Who You Help,” co-author, Bankruptcy Law360.
- “10th Circ. Has Left Less Static for Secured Creditors,” co-author, Bankruptcy Law360.
- “Houghton Mifflin: Practically Proper Improper Venue,” co-author, Bankruptcy Law360.
- “Seeking Clarity on Credit Bidding,” co-author, Bankruptcy Law360.
- “Debating Bankruptcy Venue Reform,” co-author, Bankruptcy Law360.
- “Bankruptcy Jurisdiction – Beyond Section 1334,” co-author, Bankruptcy Law360.
- “Questions You Never Used To Ask: Emerging Ethical And Liability Concerns In Commercial Loan Workouts,” panelist, ABA Spring Meeting.
- “Viewpoint: Court Ruling Endangers ‘Credit Bidding’,” co-author, American Banker.
- “Technology and Telecommunications Committee: Selling, Buying and Keeping Technology Licenses in Bankruptcy,” panelist, ABI Conference.
- “The Evolution of Credit Bidding,” co-author, Bankruptcy Law360.
- “Surviving the Credit Markets and Succeeding in a Turnaround,” co-author, Bloomberg Law Report: Banking & Finance.
- “Credit Market Exposure,” panelist, Periscopes Up: Managing Your Company in Turbulent Economic Waters.
- “Chief Restructuring Officer: Coming to a Company Near You?” co-author, ACC Northeast Chapter Quarterly Newsletter.
- “Troubled Portfolio Companies,” panelist, ABI Northeast Conference.
- “The Role of a Chief Restructuring Officer,” co-presenter, Boston Bar Association Business Law Section Meeting.
Professional and Community Involvement
- Member of the Boston Bar Association
- Member of the BBA Council and is a former co-chair of the BBA’s Public Service Oversight Committee and a former co-chair of the BBA’s Bankruptcy Section
- Active in pro bono matters and the BBA’s Financial Literacy program
- Advisory board to Tufts Hospital
Education & Credentials
- Duke University School of Law
- JD, 1991, cum laude
- University of California at Berkeley
- AB, 1987, cum laude
U.S. District Court, Massachusetts
U.S. Court of Appeals, First Circuit
U.S. District Court, Colorado
B. Riley Agrees to $70M Loan to Cryptocurrency Miner Core Scientific
Choate represented B. Riley in connection with a $70M debtor-in-possession (DIP) loan to Core Scientific, Inc., and several of its subsidiaries.
Nine Choate Attorneys Named 2022 Top Lawyers by Boston Magazine
Boston Magazine has recognized nine Choate attorneys in its 2022 Top Lawyers listing.
Choate Attorneys Recognized in Best Lawyers in America® 2023
Best Lawyers in America® has recognized 49 Choate attorneys in its 2023 edition, including naming co-managing partner William Gelnaw a Lawyer of the Year.
Choate Attorneys and Practice Groups Receive High Rankings in the 2022 Legal 500
The Legal 500 2022 recognized 31 Choate attorneys in their respective fields and 14 practice areas, with education and middle-market M&A receiving Tier 1 rankings.
Chambers USA 2022 Recognizes Choate Lawyers and Practice Groups
Chambers USA Guide to America’s Leading Lawyers for Business recognized 27 Choate partners as leading counsel in their respective fields, with six receiving Band 1 rankings.
Bankruptcy Court Decision is a Reminder that Lender Liability Still Exists
Successful claims for “lender liability” have been vanishingly rare in recent years. At the very end of 2021, however, the Bankruptcy Court for the Northern District of Texas, in a case named Bailey Tool & Mfg. Co., et al. v. Republic Bus. Credit (In re Bailey Tool & Mfg. Co.), Adv. No. 16-03025-SGJ (Bankr. N.D. Tex. December 23, 2021), found a lender liable for damages in excess of $17 million after multiple years of litigation and a lengthy trial.