Raniero D'Aversa

Partner
Restructuring

Raniero (Ron) D’Aversa is chair of Orrick’s Restructuring group.  He is a market-leading practitioner in bankruptcies, out-of-court restructurings and creditors’ rights controversies and brings years of experience representing DIP lenders, secured lenders, bank groups and hedge funds in those capacities.

Ron is the designated restructuring counsel to many leading financial institutions such as The Royal Bank of Scotland, Bank of America, Citibank, Commerzbank, Wells Fargo, Toronto-Dominion Bank and The Bank of Nova Scotia.  He has represented clients in loan bankruptcies, workouts, DIP loans, distressed debt trading, bankruptcy litigation, derivatives and distressed acquisitions.  Ron has represented creditor interests of financial institutions and investors in such restructuring and bankruptcy cases as Indiana Toll Road, Pocahontas Parkway, Eagle Bulk, Spyglass Films, American Airlines, Chemtura Corporation, AbitibiBowater and Mesa Airlines.

Ron’s clients praise his “clear and direct advice.”  He is regarded by his clients and peers as a leader in financial restructurings.  Because of his experience, Ron understands every phase of a bankruptcy and restructuring matter and knows how to effectively position a client to control opposition and maximize results.

Raniero D'Aversa
  • Recent Restructurings: represented agents in restructurings of: film slates deals; toll roads; leveraged to premium-financed life settlement portfolios; leveraged charged-off receivables portfolios; a US$350 million syndicated loan to a Mexican telecommunications provider; a US$100 million syndicated loan to a medical equipment supplier; loans to charged-off receivables portfolios; and syndicated loans to a domestic wireless provider, metals refinery and airline catering business. Represented lenders in peaceful possession and surrender of a diamond wholesaler. Represented significant lenders and derivative counterparties in recent restructurings of Xerox, Huntsman, Foster-Wheeler, NRG Energy and Dynegy.
  • Recent Syndicated Loan Workouts: represented ABN Amro Bank NV, Banco Santander, The Bank of Nova Scotia, Bank of America, Bank of Montreal, Crédit Agricole, Commerzbank, Depfa Bank, LaSalle Bank, Royal Bank of Scotland, Toronto-Dominion Bank, Wells Fargo and West LB as agents or lenders in workouts and bankruptcies involving syndicated senior loan facilities.
  • Recent Bankruptcy Cases: represented prepetition Agent and/or D-I-P Agent in the bankruptcy cases of: Cengage Learning, Genco Shipping, Wilmington Trust, AbitibiBowater, Lehman Brothers, Quebecor, VICORP, Ritchie Risk-Linked Strategies, Sea Containers, New Century Financial, Desert Power, M. Fabrikant & Sons, Star Diamond Group, W.B. David, L.I.D. Group, Boyds Collection, Enesco Group, Inc., Malden Mills, Tokheim Corporation, The Loewen Group, Singer Sewing Company, Prime Succession I and Prime Succession II, AlphaStar Television Network, Global Information Technologies, Great Lakes, Inc., International Wireless Communications Holding and Enron.
  • Aviation and Shipping Restructurings and Bankruptcies: represented agents, lenders and other financing parties in domestic leveraged leases, cross-border leases, EETCs, liquidity facilities and mortgage indentures in the US Air I, US Air II, United Airlines, Northwest Airlines, Delta Airlines, Atlas Air and Genco Shipping bankruptcies, Citigroup in the purchase, sale and restructuring of claims, loans and/or leases relating to over 100 aircraft for American Airlines, Inc., and in the out-of-court restructurings of Eagle Bulk Shipping, a major U.S. commercial airline and the nation’s largest domestic cargo carrier.
  • Infrastructure and Project Finance Restructurings: represented the steering committee in the restructuring of US$6 billion debt of the operator of the Indiana Toll Road and the borrowers in the restructuring of US$400 million debt obligation to various lenders and the TIFIA of Pocahontas Parkway. Represented agents in restructuring of project facility with Permaclear and Wellman, Inc. Represented project lenders in bankruptcies of Desert Power, Gen Holdings (PG&E National Energy group) and Ponderosa Pine Energy Partners. Represented swap issuers in restructurings of the Granite Ridge Energy, LLC, project facility and the Marianas Energy project facility.
  • Structured Investment Restructurings: represented noteholders, liquidity providers and/or swap counterparties in restructurings and enforcement proceedings in complex structured investment vehicles, commercial paper conduits and other structured products, including student loan asset backed trusts and CDOs, life settlement portfolios, charged-off receivables and film slates.
  • Diamond and Precious Metal Bankruptcies: represented secured lenders in domestic and cross-border diamond and jewelry bankruptcy cases, including M. Fabrikant & Sons, L.I.D. Group, Star Diamond Group and W.B. David.
  • Synthetic Lease Bankruptcies: represented synthetic lessors in Mariner Post-Acute Network and The Washington Group International bankruptcy cases.
  • Creditors’ Committees: represented the Official Committees of Unsecured Creditors in the Chapter 11 cases of Spectrum Information Technologies, Inc., Arbor Computers, Fulton Computer Products and Programming Ltd., Advanced Interlink and Alexander Doll Company, Inc.
Practices
Education
  • J.D., Journal of International Law & Politics, New York University School of Law, 1990
  • B.B.A., summa cum laude, Adelphi University, 1987
Honors
  • IFLR1000 Rankings, Leading Lawyer, United States – Restructuring & Insolvency
  • New York Super Lawyers, Metro Edition, Bankruptcy: Business

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