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Beth Stern Fleming, Esq.'s Page
Profile Information
- Location - City:
- Philadelphia
- Location - Country
- United States
- Current Employer:
- Stevens & Lee
- Current Job Title
- Chair, Equipment Leasing Group
- My website
- http://www.stevenslee.com
- theLeaseDirectory.com Listing URL
- http://www.theleasedirectory.com/listing.php?id=90
- Function
- Legal
- Personal Bio
- Beth Stern Fleming represents equipment lessors, manufacturers and vendors, landlords and lenders in debt restructures, asset recoveries and bankruptcies. She also regularly advises businesses with regard to reorganizations, debt restructure and orderly liquidation.
She represented one of the largest manufacturers of technology equipment in the Enron bankruptcy with regard to a several hundred million dollar electricity contract. In this case she was the first to raise an issue of first impression regarding forward contracts, and as a result, successfully negotiated with Enron to reject the energy contract with her client. She also negotiated a settlement, saving her client more than $12 million.
In the Kmart bankruptcy, Ms. Stern Fleming represented both a major equipment lessor regarding a $78 million lease for equipment found in most of Kmart’s 2100 stores and a substantial hardware and software company which provided about $30 million per year in hardware, software and consulting services to Kmart. She negotiated agreements whereby Kmart assumed all of the equipment leases and paid most of the arrearages, assumed all of the hardware, software and consulting agreements, paid most of the arrearages and entered new contracts for hardware, software and service increasing the amount of business to this client. Ms. Stern Fleming also represented a multimillion dollar technology financing company in the AmeriServe bankruptcy with regard to a $50 million equipment lease involving thousands of pieces of equipment across the country. She successfully negotiated an assumption and assignment of the leases to the purchaser of the AmeriServe business. She also represented one of the largest technology financing companies in a bankruptcy involving three other secured creditors and complex priority issues and successfully recovered the full amount of a $4 million debt plus interest and attorney fees.
Ms. Stern Fleming has represented major equipment lessors and creditors in the Fleming, Newpower, AHERF, ANC Rental, Discovery Zone, Hechinger, HomePlace Stores, Montgomery Ward, Planet Hollywood, Jumbo Sports, Crowley Milner, Nationwise Automotive, Harnischfeger, Marchfirst, REAL and Laura Ashley bankruptcies, as well as others.
She recently represented a medical imaging business and several real estate developers with regard to the restructure of their debts.
An active member of the Equipment Leasing and Financing Association, Ms. Stern Fleming is a frequent guest speaker on leasing, creditors’ rights and bankruptcy issues. Ms. Stern Fleming has written several articles on equipment leasing topics. She most recently co-authored “Enactment of New Bankruptcy Code Section 503(b)(9) Leaves Bankrupcty Court’s Discretion Unchanged,” (Equipment Leasing Today magazine, April 2007) and “The Many Downsides of Second Lien Financings,” (Equipment Leasing Today magazine, March 2006). She also serves on the Editorial Board of LJN’s Equipment Leasing Newsletter. In addition, Ms. Stern Fleming is very active in local and state politics and civic organizations. She chaired political campaign committees and was treasurer and finance chair for several local political parties. She was a member of the National Association of Women Business Owners from 1995 to 2000. Ms. Stern Fleming is a member of the Philadelphia Bar Association Bankruptcy Committee, Business Law and Real Property Sections, and Committee on Women in the Profession; the Pennsylvania Bar Association, General Practice and Real Property Sections, and the American Bar Association and the Eastern District of Pennsylvania’s Bankruptcy Conference.
Ms. Stern Fleming holds a J.D., cum laude, from Temple University School of Law (1989) and a B.A. from Brandeis University (1985). As published in Philadelphia magazine, she was recognized as a Pennsylvania Super Lawyer in 2004-2007 by being selected by her peers as among the top 5 percent of lawyers in the Commonwealth.
Beth Stern Fleming, Esq.'s Photos
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