The Impending Collision Between DAOs and U.S. Bankruptcy Courts
By Darren Azman, Partner & Gregg Steinman, Associate, McDermott Will & Emery
The focal point of blockchain technology is the concept of decentralization—that is, no central authority exists with control and decision-making power. As blockchain technology has evolved, innovators have found creative uses of the technology to disrupt centralized structures, including the...
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Gregg Steinman is an associate in McDermott’s Business Restructuring group. He focuses his practice on corporate and transactional matters, particularly Chapter 11 bankruptcy cases. He has extensive restructuring experience in a variety of fields, including energy, cryptocurrency, healthcare, retail, manufacturing, telecommunications, and transportation. Steinman also has distinct experience investigating insolvent entities for the purpose of recovering assets lost as a result of fraud and pursuing avoidance actions and related matters.
Darren Azman is a member of McDermott’s Management Committee and a partner in the Business Restructuring group. His practice focuses on corporate restructurings, creditors’ rights, and distressed acquisitions. Azman is a recognized leader in the cryptocurrency space, having led the representation of the official committee of unsecured creditors in the first-ever crypto Chapter 11 case, Cred. Inc. He currently leads the representation of the official committee of unsecured creditors in Voyager Digital Holdings Inc.