Richard E. Hagerty

Of Counsel

Tysons Corner
Business Phone: 703.734.4326
Business Fax: 703.448.6520

richard.hagerty@troutmansanders.com

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Richard Hagerty is a member of the firm’s Financial Restructuring & Insolvency and Business Litigation practices. Rich has represented secured and unsecured creditors for almost three decades in business bankruptcies, pre-bankruptcy workout negotiations, judicial and non-judicial actions to enforce their rights and exercise their remedies, and litigation to defend secured and unsecured creditors against lender liability and similar claims brought by debtors.

Rich has handled dozens of real estate foreclosures in Maryland, Virginia and the District of Columbia, as well as numerous Article 9 foreclosures of personal property in these and other jurisdictions. He has successfully represented a number of creditors in statutory and common law receivership proceedings brought pursuant to both state and federal law.

Rich has an active civil litigation practice representing businesses and business persons with contract and other disputes. In this capacity he often acts as local counsel in matters pending in the state and federal courts of Maryland, Virginia and the District of Columbia.

Representative Matters

  • Representation of secured lender in federal receivership action involving a dinner theater. Rich successfully prosecuted the receivership through a court-ordered sale of the property that resulted in full payment to his client and surplus proceeds to subordinate creditors.
  • Local counsel representation of state insurance commissioner in statutory receivership of an HMO, including prosecution of claims against HMO’s sole shareholder.
  • Representation of multiple landowners in several large coal company bankruptcies, including litigation and compromise of assumption and cure issues, filing and prosecution of claims.
  • Representation of CMBS lender in federal receivership of multi-building commercial office park, resulting foreclosure of property.
  • Representation of CMBS lender in negotiation of deed in lieu of foreclosure of multi-building commercial office park.
  • Lead counsel for a national financial institution in obtaining a receiver over a 200+ unit multi-family apartment building developed with historic tax credits. Representation included successful prosecution of debt action and preparation and filing of civil fraud claims against guarantor of borrower’s obligation.
  • Lead counsel for national financial institution in single asset real estate Chapter 11 cases filed by related entities with cross-collateralized loans. Prosecuted motions for relief from stay and ultimately negotiated settlement resulting in dismissal of bankruptcies, appointment of a receiver over the properties, and sale of properties on terms acceptable to client.

Presentations and Speaking Engagements

  • Adjunct Faculty, Washington College of Law, American University, Bankruptcy and Creditors’ Rights, Fall 2016.
  • Faculty, “Commercial Real Estate from A to Z,” National Business Institute, June 1, 2015.
  • Faculty, “Virginia Foreclosures and Workouts,” National Business Institute, April 17, 2012.
  • Faculty, "Understanding Identity Theft: Why Every Individual's Nightmare Should Be Every Business’s Concern," Lorman Education Services teleconference, October 16, 2007.
  • Faculty, "A Privacy Law Primer: What Every Attorney, Compliance and Security Officer Should Know," Lorman Education Services teleconference, June 26, 2007.
  • Faculty, "Federal Regulation of Privacy and Data Security: Ready or Not?" Tysons Corner, VA, Washington Metropolitan Area Corporate Counsel Association February 2007.

Publications

  • Co-Author, “Venue Issues Raised by Removal of State Cases Related to a Bankruptcy Case,” ABI Bankruptcy Litigation Committee Newsletter, Vol. 10, No. 5 (December 2013).
  • Co-Author, "What's Yours is Yours," summary of Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Common Ground, Vol. XXII, No. 1 (January/February 2006).

Professional and Community Involvement

  • Member, Character Committee, 7th Appellate Circuit, Court of Appeals of Maryland, 1995 to present.
  • Civil Mediator, Multi-Door Dispute Resolution Division, D.C. Superior Court, 1995 to present.
  • Mentor/Coach, Transactional Law Society, Washington College of Law, American University, 2015 – 2017.
  • Active and long-term pro bono representation of indigent individuals and organizations providing low-cost legal services.
  • Rich has been a frequent faculty member on seminars for lawyers and non-lawyers on issues involving bankruptcy, creditor’s rights, title insurance, and real estate-related litigation.

Rankings and Recognition

  • Rich has consistently achieved Martindale-Hubbell’s highest ranking for legal ability and ethical standards.
  • Rich received the Pro Bono Service Award from the Montgomery County, Maryland Bar Foundation in 1995.
Clerkship
  • Clerk, The Honorable Irma S. Raker (Ret.), Circuit Court for Montgomery County, Maryland, 1985-1986.

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Education

  • The George Washington University, J.D., with honors, 1985
  • Michigan State University, B.A., with honors, 1981

Bar Admissions

  • 1985 Maryland
  • 1987 District of Columbia
  • 2002 Virginia

Court Admissions

  • 1990 U.S. Court of Appeals for the Fourth Circuit
  • 1990 U.S. Court of Appeals for the District of Columbia
  • 1988 U.S. District Court for the District of Maryland
  • 1990 U.S. District Court for the District of Columbia
  • 2002 U.S. District Court for the Eastern District of Virginia
  • 2007 U.S. District Court for the Western District of Virginia
  • 1988 U.S. Bankruptcy Court for the District of Maryland
  • 1990 U.S. Bankruptcy Court for the District of Columbia Circuit
  • 2002 U.S. Bankruptcy Court for the Eastern District of Virginia
  • 2007 U.S. Bankruptcy Court for the Western District of Virginia