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Richard L. Costella


Principal
Richard L. Costella

Richard L. Costella is a principal in the firm's Baltimore office, where he is a member of the Creditors' Rights and Bankruptcy group. Rich's practice focuses primarily on bankruptcy and creditors’ rights, banking and finance, and commercial litigation matters.

Rich represents a wide variety of lenders and financial institutions in virtually all aspects of consumer and commercial bankruptcy cases. He has experience in pursuing motions for relief from the automatic stay, as well as litigating confirmation, dischargeability, preference, cash collateral, DIP financing, and avoidance actions. Rich also has substantial experience participating in bankruptcy and insolvency proceedings in courts throughout the United States. His participation in these matters cross a wide variety of industries, including biotech, printing and bindery, warehousing and storage, food and produce processing, retail, manufacturing, healthcare, airline, commercial real estate, and title insurance. Rich also represents numerous lenders and financial institutions in state court collection and enforcement actions, as well as consumer finance litigation involving the Truth in Lending Act, the Fair Credit Reporting Act, and the Fair Debt Collection Practices Act.  

He is a regular speaker at legal education seminars sponsored by the Bankruptcy Bar Association for the District of Maryland and the Turnaround Management Association. In recent years, his presentations at these seminars have included the “Use of Experts in Bankruptcy Valuations”, “Recent Developments in Bankruptcy Jurisdiction and Venue”, “Predatory Lending and Creditor Abuse in Bankruptcy Matters”, and “Electronic Discovery in Bankruptcy Litigation.”

Rich is a member of the Maryland bar and is also admitted to practice before the United States District Court for the District of Maryland, the United States District Court for the District of Columbia, the United States Court of Appeals for the Fourth Circuit and the Supreme Court of the United States. Rich has also co-authored several briefs and presented oral argument on appeal in both the United States District Court for the District of Maryland and the United States Court of Appeals for the Fourth Circuit.

Rich graduated from the West Virginia University School of Law in 1998 where he was a member of the Order of the Coif and the Executive Editor of the West Virginia Law Review. Rich received his B.S. from Towson University in 1987, and his M.S.B., with Honors, from Johns Hopkins University in 1994. After graduation from law school, Rich clerked for the Honorable L. Edward Friend, II in the United States Bankruptcy Court for the Northern District of West Virginia.

Affiliations & Recognition

Professional Involvement

  • American Bankruptcy Institute

  • Bankruptcy Bar Association for the District of Maryland, At-large Director (2006-2009, 2011); Baltimore Chapter Vice-Chair (2009-2010); Baltimore Chapter Chair (2010-2011); Spring Break CLE Planning Committee (2008-2013); Assistant Treasurer (2013)

  • Maryland Bar Association

  • Turnaround Management Association, Chesapeake Chapter: Board of Directors (2007-2010); Chesapeake Chapter President (2011-2013); National Audit Committee Member (2012) and National Audit Committee Chair (2013); Education Oversight Committee (2014); Finance Committee (2014); and Webinar Subcommittee (2014)

  • West Virginia Law Review: Executive Editor

Recognition

  • Best Lawyers in America®: Selected for inclusion in the areas of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law and Litigation - Bankruptcy (2013-2019)

  • Chambers USA - America's Leading Lawyers for Business: Listed in the areas of Litigation: Bankruptcy and Bankruptcy/Restructuring (2015-2018)

  • Maryland Super Lawyers®: Selected for inclusion in the area of Bankruptcy & Creditor/Debtor Rights, Business Litigation (2011-2012); Bankruptcy & Creditor/Debtor Rights (2013-2014); Creditor/Debtor Rights (2015-2019)

Blogs

Case Examples

Asset Acquisition

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We represented the nation’s sixth largest full service trade bindery and post press finisher in the acquisition of assets o...

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Bankruptcy Litigation

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We served as counsel to a large international financial institution in an action brought against it by the Chapter 11 Trustee...

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Focus

Industries Served:

Practices:

Press Coverage

Publications

Speaking Engagements

"Chapter 11 Issues," Maryland State Bar Association Advanced Bankruptcy Law Institute; Baltimore, MD (March 24, 2015).