The National Law Journal has named New York partner Jamie Levitt to its 2014 "Winning" list, an annual feature profiling lawyers with at least one significant trial win in the past 18 months and a track record of success over the years. This year's list features only five of the top litigators in the United States.
Jamie was profiled for her role as lead attorney for Residential Capital’s Chapter 11 case, the largest bankruptcy of 2012. She, along with a MoFo team, during a six day trial in October 2013, successfully fended off claims from a group of junior secured noteholders that the value of their collateral was far beyond their $2.2 billion in notes.
On November 15, 2013, Judge Martin Glenn ruled that the JSN’s collateral was worth only $1.904 billion, leaving them undersecured by $318 million and therefore not entitled to the $342 million in post-petition interest they demanded. The court also determined that the JSNs had not provided credible expert valuation for their collateral as of the petition date and thus could not prove a diminution in value and were not entitled to an adequate protection claim.
The “phase 2” trial to confirm the plan of reorganization spanned five days in November 2013 and prior to its conclusion, settlement was announced on December 3, 2013. The Plan was confirmed on December 11, 2013.
The complete list of winners, originally published on October 27, is available online at www.nlj.com.