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Raniero D'Aversa

Partner

New York Office

Raniero 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, Toronto-Dominion Bank and The Bank of Nova Scotia. He has represented clients in bankruptcies, workouts, DIP loans, distressed debt transactions, bankruptcy litigation, derivatives and distressed acquisitions. Ron has represented interests of financial institutions and investors in such restructuring and bankruptcy cases as Ocean Rig, Seadrill, CHC Helicopter, Erickson, Indiana Toll Road, Pocahontas Parkway, Eagle Bulk, Spyglass Films, American Airlines, Republic Airlines, Chemtura Corporation, Quebecor, AbitibiBowater, North Las Vegas, Ritchie Risk-Linked Strategies, Star Diamond, Lehman and Mesa Airlines.

In the Restructuring (Including Bankruptcy): Corporate category of The Legal 500 US directory, Ron’s clients praise his “practical and strategic approach.” Another noted, “Each time I discuss an issue with [him], I am both amazed at his ability to understand my concerns and his complete knowledge of the subject. He puts me at ease and there is never a time that I cannot reach him.” Regarded as a leader in financial restructurings by clients and peers alike, Ron understands every phase of a bankruptcy and restructuring matter and knows how to effectively position a client to control opposition and maximize results.

    • Recent Restructurings: represented agents in restructurings of: Upstream oil and gas exploration operators; film slates deals; toll roads; premium-financed life settlement portfolios; leveraged charged-off receivables portfolios; numerous tribal and non-tribal gaming operators; Latin American telecommunications provider; various healthcare related loans to hospital systems and medical equipment suppliers; numerous diamond and jewelry loans; and numerous domestic and foreign operating companies. Represented lenders in peaceful possession and surrender of a diamond wholesaler, movie studio and life-settlement providers. Represented significant lenders and derivative counterparties in 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 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, fleet financings, EETCs, liquidity facilities and mortgage indentures in the CHC Helicopter; Erickson Industries, 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 $6 billion debt of the operator of the Indiana Toll Road and the borrowers in the restructuring of $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.
    • Creditors’ Committees: represented the Official Committees of Unsecured Creditors in the Chapter 11 cases of Jones Stephens; ActiveCare; Spectrum Information Technologies, Inc., Arbor Computers, Fulton Computer Products and Programming Ltd., Advanced Interlink and Alexander Doll Company, Inc.

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