O’Melveny Names Peter Friedman Chair of Bankruptcy Litigation Group as Wave of Insolvencies ApproachesJuly 01, 2020
FOR IMMEDIATE RELEASE
NEW YORK—July 1, 2020—O’Melveny has appointed partner Peter Friedman chair of its Bankruptcy Litigation practice ahead of an expected nationwide wave of bankruptcy-related disputes stemming from the COVID-19 pandemic.
Part of the firm’s top-ranked Global Restructuring Practice Group, O’Melveny’s Bankruptcy Litigation practice has a long history of guiding clients through complex and contentious restructuring and insolvency matters in every major jurisdiction.
“As more and more companies seek bankruptcy protection, distressed litigation has taken on increased importance,” said John Rapisardi, O’Melveny’s Global Head of Restructuring. “Our global team is being called on by companies, investors, and government entities to guide them through today’s perilous times, and our clients are turning to Peter to provide top-notch litigation counsel, whether in the courtroom or at the settlement table. We are proud to be able to help our clients face virtually any aspect of a restructuring, and we stand ready to provide steady leadership during the COVID-19 crisis.”
Drawing on a multidisciplinary group of lawyers from across the firm’s Global Restructuring Practice and Litigation Department, O’Melveny’s Bankruptcy Litigation practice includes acclaimed restructuring, corporate, securities, financial services, and trial/appellate lawyers. The practice specializes in issues arising from adversarial Chapter 11 cases, including contested matters, plan disputes, and insolvency-related litigation and valuation disputes. A leading bankruptcy and restructuring litigator, Friedman has a 20-year record of representing borrowers and their stakeholders, including lenders, bondholders, investors, and officers and directors, in bankruptcy courts, district courts, courts of appeals, and the United States Supreme Court in the most high-profile and complicated matters on record. He is listed as a leading bankruptcy lawyer in Chambers USA (2010-19) and is a Fellow of the American College of Bankruptcy.
O’Melveny is playing a lead role in the restructuring of Puerto Rico’s US$70 billion of debt obligations and nearly US$50 billion of pension obligations—one of the largest and most closely watched restructurings in U.S. history. Earlier this month, the firm marked a major victory for its client, the Puerto Rico Fiscal Agency and Financial Advisory Authority, when the U.S. Supreme Court handed down a 9-0 decision affirming the powers and responsibilities of Puerto Rico’s Financial Oversight and Management Board. O’Melveny also answered California Governor Gavin Newsom’s call in 2019 to handle the PG&E Chapter 11 cases, an engagement that put O’Melveny at the forefront of the state’s climate policy.
“With businesses navigating this sudden and dramatic economic downturn and more companies seeking Chapter 11 protection, we expect bankruptcy proceedings to be more contentious than ever,” said Friedman. “O’Melveny’s bankruptcy litigation team offers tremendous skill across practice areas to provide our clients with the kind of vigorous defense needed in these unprecedented times.”
In recognition of Friedman’s ongoing bankruptcy work for the Government of Puerto Rico, The National Law Journal named him a “Litigation Trailblazer of the Year” and The American Lawyer featured him in its “Litigation Department of the Year” profile of O’Melveny.
In addition to Friedman, O’Melveny’s Bankruptcy Litigation practice includes leaders of the firm’s Securities Litigation practice (co-chair Jonathan Rosenberg), Financial Services practice (co-chair Elizabeth McKeen), Supreme Court & Appellate Litigation practice (chair Jonathan Hacker), Policy Committee (Lead Director Pamela Miller), and numerous other partners.
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