• Alice J. Byowitz represents mutual funds, distressed investors, indenture trustees and creditors' committees in some of the largest, most complex and highest-profile municipal restructurings and corporate reorganizations, both in and out of court. Alice’s clients include OppenheimerFunds/Invesco, Nuveen Asset Management, Franklin Advisers and BlackRock, and she represented the Official Committee of Unsecured Creditors in the Hertz Corporation’s bankruptcy.

    Alice has been involved in the nation’s largest municipal bankruptcies, including those of Puerto Rico, Detroit, and Jefferson County. She played a key role on the Kramer Levin team representing holders of more than $10 billion of bonds issued by Puerto Rico, including in a victory before the U.S. Supreme Court and two before the U.S. Court of Appeals for the First Circuit on behalf of holders of $3.2 billion of bonds issued by the Puerto Rico Electric Power Authority, as well as in negotiating two landmark restructuring support agreements both prior to and after enactment of the federal Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) restructuring law. She was involved in the firm’s representations of holders of $1 billion in certificates of participation in the Detroit Chapter 9 bankruptcy case and holders of $900 million in secured sewer warrants of Jefferson County in its Chapter 9 bankruptcy case.

    Among her most notable work in Chapter 11 corporate restructuring, Alice represented the Hertz creditors committee and was involved in the firm’s representation of the Official Committee of Unsecured Creditors in the Toys “R” Us bankruptcy and of the indenture trustee and a steering committee for $2.2 billion in second-lien notes in the Energy Future Holdings Corp. bankruptcy.

    Alice also represents clients in the public-private partnership space, including an indenture trustee for green bonds in the Enviva Inc. bankruptcy and the trustee for the subordinated green bonds in the CalPlant I, LLC bankruptcy.  

    Alice has been recognized as a rising star in Thompson Reuters’ New York Super Lawyers (2017-2023) and as a leading U.S. and global bankruptcy lawyer in Lawdragon 500 since 2023.

    Experience

    • Enviva Inc. – Representation of Indenture Trustee (including as a member of the Official Committee of Unsecured Creditors) for $350 million of green bonds issued as part of a public-private partnership in the bankruptcy cases of Enviva Inc., the world’s largest producer of sustainable wood pellets.

    • Endo Pharmaceuticals – Representation of Official Committee of Unsecured Creditors in the bankruptcy cases of Endo International plc, one of the country’s largest pharmaceutical companies.

    • The Hertz Corporation – Representation of the Official Committee of Unsecured Creditors, obtaining cash payment in full of all unsecured claims on the effective date.

    • Puerto Rico Electric Power Authority – Representation of holders of more than $3 billion in bonds issued by PREPA, including a victory before the First Circuit and a landmark restructuring support agreement prior to enactment of the federal Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) restructuring law.

    • Puerto Rico – Representation of holders of $10 billion in bonds in Puerto Rico’s Title III proceeding, including successful litigation before the First Circuit and the U.S. Supreme Court challenging the constitutionality of Puerto Rico’s bankruptcy statute.

    • CalPlant – Representation of Indenture Trustee for subordinated green bonds issued as part of a public-private partnership in a pre-bankruptcy issuance of additional bonds and the eventual bankruptcy cases of CalPlant I, LLC

    • Toys “R” Us – Representation of Official Committee of Unsecured Creditors.

    • Energy Future Holdings Corp. – Representation of the indenture trustee and a steering committee for $2.2 billion in second-lien notes.

    • Detroit – Representation of banks holding approximately $375 million of certificates of participation in the city of Detroit’s Chapter 9 case.

    • Jefferson County – Representation of holders of $900 million in secured sewer warrants in the Chapter 9 case of Jefferson County, Alabama.

    Credentials

    Education

    • J.D., New York University School of Law, 2012
      • Annual Survey of American Law, Senior Articles Editor and Staff Editor 
      • New York City Bar Association, Bankruptcy Committee, Student Member
    • B.A., Classics, cum laude, Princeton University, 2007

    Bar Admissions

    • New York, 2013

    Court Admissions

    • U.S.C.A., 1st Circuit
    • U.S.D.C., Eastern District of New York
    • U.S.D.C., Southern District of New York
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