Neil B. Glassman is chairman of the Board of Directors of Bayard and chairs the firm’s bankruptcy group. Neil focuses his practice on bankruptcy and insolvency law, and insurance and entity law. Neil regularly represents debtors, official committees of unsecured creditors or equity holders, secured lenders, banks and insurance companies, financial institutions and publicly and privately held businesses in large bankruptcy cases and other insolvency proceedings including insurance company insolvencies. An experienced transactional attorney, Neil has also developed a substantial practice representing clients in relation to the law of Delaware business entities including corporations, business trusts, general and limited partnerships, limited liability companies, and conventional and captive insurance companies. Neil has developed a specialty in counseling insurance companies in regulatory matters in Delaware. Neil joined Bayard in 1986.
Neil is a past President of the Commercial Law Section of the Delaware State Bar Association and is presently a member of its Statutory Trust Committee as well as a member of the Bankruptcy and the Corporation Law Sections. He also serves on the Board of Directors for the Delaware Captive Insurance Association.
Neil is a published author and a frequent speaker on issues and developments in bankruptcy and insolvency law. He has been recognized by Chambers USA in 2006 through 2013 as a leader in bankruptcy and restructuring, and was also named by Best Lawyers® as one of the foremost practitioners in his region. (The Best Lawyers in America® Copyright 2013 Woodward/White, Inc., Aiken, SC.) In 2013, he was recognized by Super Lawyers magazine as a Delaware Super Lawyer in bankruptcy & creditor/debtor rights. Neil is AV® Peer Review Rated by Martindale-Hubbell.*
*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell® certification procedures, standards and policies. Ratings reflect the confidential opinions of members of the Bar and the Judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.
Bayard has a long history of advising insurance companies and the regulators responsible for their supervision. Bayard’s attorneys are experienced in working with the insurance industry, both as legal counsel and as business advisors. They share with insurers, reinsurers and regulators, the benefit of their in-depth knowledge of Delaware statutes relating to insurance regulation and Delaware laws governing the formation and management of Delaware entities.
Bayard’s attorneys often serve as hearing officers, appointed by the Insurance Commissioner of the State of Delaware, or as counsel to the hearing officers. Bayard attorneys have represented the Commissioner as a receiver in an insurance insolvency proceeding in the Chancery Court of the State of Delaware and the Delaware Department of Insurance, as well as insurance companies, on licensing, ownership and control issues, both in the traditional insurance area and the evolving captive insurance field.
Bayard is a founding member of the Delaware Captive Insurance Association (“DCIA”) and Bayard’s attorneys serve on the DCIA board of directors. In the captive insurance field, Bayard comprehensive provides legal services, combining the skills and experience of its insurance, transaction and tax attorneys with those of the client’s other advisors.
Bayard’s involvement in Delaware insurance law is neither new nor academic. Two former and one current Bayard attorneys have been elected or appointed to posts within the Delaware Department of Insurance, one as Insurance Commissioner and two as Deputy Insurance Commissioners.
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