Among other noteworthy matters, Nate has advised official committees of unsecured creditors in the bankruptcy cases of Express, Forever 21, Hexion, Toys “R” Us, and Residential Capital. He has also advised bondholder groups in the bankruptcy cases of Caesars and Valaris, and represented the Toys “R” Us Creditor Litigation Trust and ResCap Liquidating Trust following confirmation of the respective bankruptcy plans.

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• Represented the Official Committee of Unsecured Creditors for Express Inc., a fashion brand and retailer that filed for chapter 11 protection in the US Bankruptcy Court for the District of Delaware in April 2024 and successfully emerged from bankruptcy on December 31, 2024, following a Section 363 sale and confirmed plan*
• Represented a bondholder group with more than $3.7 billion of bond debt in negotiations with Valaris plc to restructure its balance sheet. Valaris – one of the largest oil rig-owning companies in the world – filed for bankruptcy on August 19, 2020, in the Bankruptcy Court for the Southern District of Texas with more than $7 billion in financial debt, including approximately $6.5 billion in bond debt and an approximately $600 million drawn revolver. Prior to the bankruptcy filing, the bondholder group negotiated and agreed with Valaris on a Restructuring Support Agreement (RSA) that provided for the conversion of all of Valaris’ debt to equity pursuant to a chapter 11 plan of reorganization in a deal supported by more than 70% of Valaris’ bond debt. The bondholder group also agreed to provide $500 million in debtor-in-possession financing, which was approved by the bankruptcy court following a contested two-day trial*
• Represented the Official Committee of Unsecured Creditors for Hexion Inc. Burdened by approximately $3.8 billion of debt, near-term maturities, and liquidity issues, on April 1, 2019, the company sought chapter 11 protection in federal court in Wilmington, Delaware, with an RSA supported by various secured and unsecured noteholder groups*
• Represented the Official Committee of Unsecured Creditors in the bankruptcy cases of Toys “R” Us Inc. and certain of its direct and indirect subsidiaries in their restructuring of more than $5 billion of financial debt in the Bankruptcy Court for the Eastern District of Virginia, Richmond Division. Following confirmation, Nate advised the Toys “R” Us Creditor Litigation Trust*
• Represented an ad hoc group of bondholders holding more than $3.5 billion of first-priority senior secured bonds issued by Caesars Entertainment Operating Co., Inc. in connection with its and certain of its affiliates’ bankruptcy cases*
• Represented the Official Committee of Unsecured Creditors for Residential Capital, LLC (ResCap), a wholly owned subsidiary of residential mortgage loan servicer Ally Financial Inc. (AFI), in the largest bankruptcy of 2012. Among other matters, the committee led the negotiation of a $2.1 billion comprehensive settlement (three times the amount offered at the outset of the case) of several case issues, including residential mortgage-backed securities “put-back” litigation, between AFI, ResCap, and ResCap’s major creditor constituencies. Following confirmation, Nate advised the ResCap Liquidating Trust*

*Matter handled prior to joining McDermott.

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