Natan Hamerman

Express Inc. – Represented the Official Committee of Unsecured Creditors of Express Inc., which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware on April 22, 2024. Led the Committee’s investigation into claims arising from prepetition conduct and transactions. Negotiated the preservation of those claims for the benefit of unsecured creditors.

Rite Aid Corp. – Represented the Official Committee of Unsecured Creditors of the American drugstore chain, which filed for Chapter 11 protection in 2023 with more than $4 billion in funded debt and facing substantial opioid litigation. Led the Committee’s investigation into claims arising from prepetition conduct, and now representing the General Unsecured Creditor Trust in pursuing potential litigation relating to preserved claims.

Endo International plc – Represented the Official Committee of Unsecured Creditors of the specialty pharmaceutical company, which filed for Chapter 11 bankruptcy in 2022 with more than $8 billion in debt and embroiled in significant opioid litigation. On behalf of the Committee, led an investigation focused on identifying unencumbered assets and maximizing value for the benefit of unsecured creditors. Coordinated Kramer Levin’s multifaceted litigation efforts. Representing Endo’s General Unsecured Creditor Trust in pursuing litigation of preserved claims, including breach of fiduciary duty claims against Endo’s former officers and directors

LATAM Airlines – Represented a large group of funds holding over $5.5 billion in face value of unsecured claims against LATAM Airlines, a Chilean company and the largest airline in Latin America, which filed for bankruptcy in May 2020. Led many of Kramer Levin’s litigation efforts, including successfully defending clients against document discovery requests, undertaking offensive and defensive deposition efforts, and coordinating the debtors’ confirmation trial efforts, examinations, cross-examinations, summations and briefing.

Hertz Global Holdings Inc. – Represented the Official Committee of Unsecured Creditors, including in a cash collateral challenge proceeding, litigation relating to the Committee’s objection to the sale of Hertz’s fleet management business, and numerous other litigation efforts. Obtained standing to prosecute claims on behalf of the estate relating to the scope, extent and validity of Hertz’s pre-petition first and second lien lenders’ liens.

Puerto Rico Electric Power Authority – Represented an ad hoc group of institutions holding approximately $4 billion in secured bonds issued by the Puerto Rico Electric Power Authority in connection with the authority’s restructuring.

Caesars Entertainment Operating Co. – Represented an ad hoc group of institutions holding more than $4 billion in first lien bonds issued by Caesars Entertainment Operating Co. (owner and operator of Caesars Palace and 30 other casinos and resorts under the Bally’s, Harrah’s and Horseshoe brands, among others) in connection with the restructuring of the company and related litigation.

Residential Capital (ResCap) – Represented the Unsecured Creditors’ Committee in the ResCap bankruptcy, including in the litigation against junior secured noteholders seeking nearly $380 million in post-petition interest and attorneys’ fees. Led an investigation of prepetition conduct that the Committee leveraged into a $2.1 billion comprehensive settlement among ResCap, parent company Ally Financial Inc. and ResCap’s major creditor constituencies.

Genco Shipping & Trading – Represented the international dry bulk shipping company in its successful $1.4 billion restructuring, including a hotly contested valuation fight and a four-day trial.

NII Holdings Inc. – Represented the Official Committee of Unsecured Creditors in the bankruptcy case of a leading provider of mobile communication services operating under the Nextel brand in Latin America, which involved months of discovery and a nine-day trial, after which the bankruptcy court confirmed the Chapter 11 plan jointly proposed by the debtors and the creditors’ Committee, resolving numerous disputed claims.

Representing an affiliate of CIM, the developer and sponsor of 432 Park Ave., against damages claims related to alleged construction and other defects in the luxury supertall condominium building in a suit involving dozens of parties.

Represented Amherst Capital Management in successfully prosecuting a foreclosure and guaranty enforcement action involving the commercial unit at the landmarked One Hanson Place in Brooklyn, New York. 

Represented lender Sutton 58 Associates LLC (an affiliate of Gamma Real Estate) in the bankruptcies of BH Sutton Mezz LLC and Sutton 58 Owner LLC (affiliated with The Bauhouse Group). Successfully enforced client’s $147 million loan agreements and first-chaired the client’s defense in the trial of an adversary proceeding commenced by the debtors alleging lender liability claims.

Represented property owner Vernon Realty Holding LLC, in multiple litigations relating to 44-02 Vernon Boulevard, a 28-acre site that is part of a planned 112 million-square-foot development along the Long Island City waterfront. Successfully led a unique, multiyear court battle concerning repayment of $96.9 million in loans, and defeated the plaintiff-noteholder’s “loan-to-own” strategy through aggressive motion and appellate practice.

Represented DW Commercial Finance LLC in successfully opposing a motion for a preliminary injunction seeking to enjoin a UCC foreclosure sale, obtaining a precedent-setting decision that dual collateral loans, secured by both a mortgage and a pledge of membership interests in the borrower, do not clog the equity of redemption.

Represented Forest City in three interrelated construction and business-divorce disputes involving a $116 million construction project in Atlantic Yards, Brooklyn, and an innovative modular construction business, acting as lead draftsman of pleadings, motions and appellate briefs, and as lead attorney on all discovery matters, including successful resolution of a cross-border deposition dispute.

Successfully represented a developer in a four-day bench trial in connection with a dispute involving the purchase of an $18.5 million cooperative apartment.

Successfully represented numerous tenants in applications for Yellowstone injunctions to prevent termination of long-term ground and net leases, including a number of bet-the-company cases involving leaseholds valued in excess of $100 million.