Ben Butterfield is a partner in the Business Restructuring + Insolvency Group in the New York office of Morrison Foerster.
Ben has represented debtors, secured creditors, unsecured creditors, official creditors’ committees, and directors and officers in complex restructuring transactions, including both out-of-court financial restructurings and chapter 11 proceedings. Ben has also represented clients in connection with international insolvency-related matters, including litigation-oriented matters as well as transactional work. He is also a member of our global ESG + Sustainability steering committee.
Prior to joining Morrison Foerster, Ben was an associate in the New York office of another large law firm. He earned his J.D. from the New York University School of Law.
Ben is admitted to practice in New York.
In re Clovis Oncology, Inc., et al.
(Bankr. Del.) Counsel to the official committee of unsecured creditors of Clovis Oncology, Inc., and its affiliated debtors in their chapter 11 cases. Clovis is a biopharmaceutical company focused on acquiring, developing, and commercializing cancer treatments in the United States and abroad. Clovis filed for chapter 11 to implement a sale of their assets pursuant to section 363 of the Bankruptcy Code.
In re CalPlant I Holdco, LLC
(Bankr. D. Del.) Counsel to CalPlant I Holdco, LLC and CalPlant I, LLC in their chapter 11 bankruptcy cases. CalPlant is nearing completion of the world’s first manufacturing plant capable of producing medium density fiberboard using rice straw as feedstock. CalPlant filed for chapter 11 in October 2021 to conduct a marketing process for substantially all of its assets and/or restructure approximately $380 million in secured debt.
In re Grupo Aeroméxico, S.A.B. de C.V.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of Grupo Aeroméxico, S.A.B. de C.V. and its affiliated debtors in their chapter 11 cases. Aeroméxico is the leading airline in Mexico and a founding member of the SkyTeam alliance. Prior to the Covid-19 pandemic, Aeroméxico offered approximately 4,000 weekly passenger flights to 42 destinations in Mexico and 41 destinations in the United States, Canada and abroad. Aeroméxico generated $3.1 billion in annual revenues during 2019 and had approximately 14,750 employees and $1.9 billion in funded debt as of its petition date.
In re Avianca Holdings S.A., et al.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of Avianca Holdings S.A. and its 38 affiliated debtors in their chapter 11 cases. Avianca is the largest airline in Colombia and El Salvador and the second largest in Latin America. Prior to the Covid-19 pandemic, Avianca offered passenger services on more than 5,350 weekly flights to more than 76 destinations in 27 countries, and generated approximately $3.9 billion in annual revenues. As of the petition date, Avianca had approximately 18,900 employees and reported outstanding indebtedness of approximately $5.4 billion.
In re Murray Energy Holdings, Co., et al.
(Bankr. Del.). Counsel to the official committee of unsecured creditors of Murray Energy Holdings Co. and its affiliated debtors, in its chapter 11 bankruptcy. Murray filed for chapter 11 protection in the United States Bankruptcy Court for the Southern District of Ohio in October 2019 after struggling with deteriorating coal prices, decreased demand for coal, increased use of renewable energy sources, and regulatory burdens. At the time of its bankruptcy filing, Murray was the largest privately owned coal company in the United States, with approximately US$2.5 billion in annual revenues and nearly 5,500 employees.
Ad Hoc Group of Education Management Corporation Term Lenders
Counsel to an ad hoc group of term and revolving lenders to Education Management Corporation in connection with negotiation and implementation of a strict foreclosure on their collateral and subsequent efforts to monetize that collateral.
Ad Hoc Group of Dream Center Education Holdings Term Lenders
Counsel to an ad hoc group of term lenders to Dream Center Education Holdings in connection with Dream Center’s distressed spinoff of two not-for-profit education systems to new ownership and the simultaneous restructuring of its existing debt.
Ad Hoc Group of Constitutional Bondholders of the Commonwealth of Puerto Rico
Counsel to an ad hoc group of holders of bonds issued and/or guaranteed by the Commonwealth of Puerto Rico (constitutional debt) in connection with the first restructuring proceeding under the newly enacted Puerto Rico Oversight, Management, and Economic Stability Act. Working in coordination with other holders of constitutional debt, the ad hoc group has engaged in targeted litigation and efforts to negotiate a plan for the Commonwealth’s restructuring, while simultaneously defending attempts to invalidate more than $6 billion of the Commonwealth’s $18 billion of outstanding constitutional debt.
In re Real Industry, Inc.
(Bankr. D. Del.) Counsel to Real Industry, Inc., Real Alloy Recycling, Inc., and their affiliated debtors in their chapter 11 cases. Real Industry is a holding company with approximately one billion dollars in tax attributes. Real Alloy, a subsidiary of Real Industry, is a large-scale recycler of aluminum with operations throughout the United States, Canada, Mexico, and Europe. The debtors collectively filed for chapter 11 to restructure approximately $400 million in funded debt obligations and approximately $75 million in other obligations. In May 2018, Real Industry’s chapter 11 plan, which preserved its tax attributes, went effective and Real Alloy closed a sale of all its assets and operations, preserving 2,000 jobs and critical business relationships.
In re Ciber, Inc., et al.
(Bankr. D. Del.). Counsel to Ciber, Inc. and its affiliated debtors, industry leaders in information technology, consulting, and outsourcing services, in their chapter 11 cases. Advised the companies in the successful 363 sale of substantially all of their North American and Indian assets for $90.7 million, nearly doubling the initial stalking horse bid, and assisted with the development of a liquidating plan providing for the distribution of sale proceeds and remaining value to stakeholders.
In re 21st Century Oncology Holdings, Inc., et al.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of 21st Century Oncology Holdings, Inc. and its subsidiaries and affiliates, the largest global provider of integrated cancer care services. At the time of its filing, 21st Century Oncology had more than $1.1 billion of prepetition funded debt that it was seeking to restructure through its chapter 11 cases.
In re UCI International, LLC, et al.
(Bankr. Del.) Counsel to the official committee of unsecured creditors of UCI International, one of North America's largest manufacturers of automotive replacement parts.
In re Republic Airways Holdings Inc., et al.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of Republic Airways Holdings Inc. and its affiliated debtors in their chapter 11 cases. Republic provides regional passenger services through its wholly owned subsidiaries, Shuttle America and Republic Airlines, which operate approximately 1,000 daily flights through codeshare agreements with United Continental Holdings, Inc., Delta Air Lines, Inc., and American Group, Inc.
In re Maxus Energy Corporation
(Bankr. D. Del). Counsel to Maxus Energy Corporation and four affiliated debtors in their chapter 11 cases, which addressed over $12 billion in claims, predominantly in connection with environmental liability relating to the country's largest superfund site—the Passaic River and related bodies of water. The Maxus chapter 11 cases concluded in July 2017 following confirmation of an innovative chapter 11 plan supported by over 99% of creditors.
In re Peabody Energy, Inc., et al.
(Bankr. E.D. Mo.) Counsel to the Official committee of unsecured creditors of Peabody Energy, the world’s largest privately owned coal producer, and 153 of its subsidiaries, which collectively held $10.1 billion in prepetition debt. In the bankruptcy court, our team succeeded in securing material improvements to unsecured-creditor recoveries in the confirmed plan of reorganization. We successfully defended the plan, which provided substantial recoveries to both secured and unsecured creditors, in the district court against challenges by the hold-out creditors and again in the Eighth Circuit.
In re Patriot Coal Corporation, et al.
(Bankr. E.D. Va.) Counsel to the official committee of unsecured creditors in the chapter 11 cases of Patriot Coal Corporation, a leading producer and marketer of metallurgical and thermal coal in the eastern U.S. with approximately 2,900 active employees at the time of filing, approximately $791 million in prepetition funded debt, and significant legacy liabilities (primarily in the form of retiree benefits, pension obligations, and environmental obligations).
“Ones to watch” – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
Best Lawyers in America 2022-2025
Recommended in the area of Corporate Restructuring
Legal 500 US 2023
Recognized as an Outstanding Young Restructuring Lawyer
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