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Elizabeth Aboulafia is a partner in the firm's Bankruptcy and Creditors' Rights department practicing in the areas of bankruptcy and restructuring as well as construction claims resolution, general construction law and complex commercial disputes.  Across disciplines, Elizabeth approaches complex legal issues with practical-minded and business-oriented solutions. 

She frequently advises companies in financial distress as debtors in Chapter 11 bankruptcy cases and out-of-court restructurings, workouts and wind-downs in a wide range of industries. In addition to company-side representations, Elizabeth has experience representing major constituents in bankruptcy cases and workouts, frequently advising creditors, creditors’ committees, equity holders, trustees and other key business stakeholders in debtor-creditor matters.  She also routinely prepares non-consolidation, bankruptcy safe harbor and true sale legal opinions for participants in commercial real estate and structured finance transactions.

With broad expertise in the construction industry, Elizabeth frequently assists contractors to resolve delay, disruption, extra work and other contract claims and disputes through negotiation, alternative dispute resolution proceedings and/or litigation. Elizabeth has experience in a broad range of construction-related matters, including experience representing general contractors and subcontractors with regard to claims preparation, dispute resolution, contract negotiations, contract compliance and administration, M/WBE certification, and providing outside general counsel services.  Elizabeth utilizes her combined knowledge of restructuring and construction to guide contractors experiencing financial distress through out-of-court workouts with sureties and banks. Her deep understanding of the financial aspects of construction allows her to help contractors efficiently navigate the complex intercreditor relationships among sureties and banks.

Areas of Concentration:

  • Construction workout and bankruptcy 
  • Chapter 11 debtors and creditors
  • Construction claims resolution
  • M/WBE certification
  • Opinion letters

Practice Areas

Banking and Financial Services Banking and Financial Services Litigation Commercial Contracts Disputes Bankruptcy and Creditors’ Rights Commercial Foreclosures/ Total Debt Restructuring Debtor Representations Construction Contract Dispute Resolution Distressed M & A Secured Creditors’ and Lenders Loan Workout

Industries

Admissions

  • New York
  • U.S. District Court for the Eastern District of New York
  • U.S. District Court for the Southern District of New York

Education

  • J.D., St. John’s University School of Law, magna cum laude, 2008
  • B.A., University of Delaware, magna cum laude, 2005

Representative Experience

  • Representing contractors in out-of-court workouts, sale and restructuring transactions, wind-down and pursuit of claims to fund creditor recoveries.
  • Representing contractors in formation of M/WBE entity, certification process and general counsel services.
  • Representing shareholders in business divorce and dissolution proceedings.
  • Represented mechanical contractor in pursuit of claims against public agency to fund Chapter 11 plan payments.
  • Represented demolition contractor in financing and bonding matters in Chapter 11 bankruptcy case and pursuit of extra work and delay claims against public owners.
  • Represented private equity fund in out-of-court workout and wind-down of regional construction contracting group.
  • Represented large scale subcontractor and general contractor in Chapter 11 bankruptcy resulting in confirmation of consensual Chapter 11 plan and emergence from bankruptcy in under one year.
  • Represented concrete contractor in Chapter 11 bankruptcy resulting in confirmation of Chapter 11 plan funded by multi-million-dollar mediated settlement arising out of a public construction contract with the Port Authority of New York and New Jersey.
  • Represented heavy civil construction company in Chapter 11 bankruptcy resulting in confirmation of Chapter 11 plan funded by proceeds of construction litigation against public agencies.
  • Represented HVAC contractor in Chapter 11 bankruptcy resulting in confirmation of Chapter 11 plan providing for payment in full of creditor claims and business reorganization.
  • Represented heavy construction company in multi-million-dollar bankruptcy litigation arising out of a public construction contract with the State of New York.
  • Represented Chapter 11 debtors in a wide range of industries including construction, commercial real estate, higher education, trademark licensing, gaming, and hospitality.

Professional and Community Activities

  • Turnaround Management Association: Long Island Chapter Vice President of Programming and Network of Women (NOW) Committee Co-Chair
  • Turnaround Management Association:  Global Executive Board, Member-at-Large
  • New York Institute of Credit: Co-Chair of Women’s Division Committee; Member of Board of Directors 
  • American Bankruptcy Institute: Member 
  • Professional Women in Construction, New York Chapter: Member
  • Construction Financial Management Association: Member
  • Construction Lawyers Society of America: Fellow

Honors and Awards

  • Top Woman Dealmarkers Award, Global M&A Network, 2024
  • Super Lawyers Rising Stars, New York Metro Region, 2015 – 2018
  • Who’s Who in Women in Professional Services 2017, Long Island Business News
  • Outstanding Women in Law Awards 2016, Hofstra University School of Law
  • Super Lawyers, New York Metro Region, 2022-2024

Publications

  • “Building Resilience & Improving Financial Results: How to Overcome Broken Links in the Construction Supply Chain”, TMA Journal of Corporate Renewal, October 2023
  • “Delayed Payment on Contract Claims:  Liquidity & the Domino Effect on Credit Relationships”, CFMA Building Profits, May/June 2022
  • “Using Article 3-A to Protect Payment Rights in a Construction Bankruptcy”, New York Law Journal, June 2017
  • “Be Wary of Using Involuntary Bankruptcy as a Collection Tool”, ABI Journal, May 2019

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