Daniel S. Shamah advises financial institutions, private equity sponsors, hedge funds and public and private companies in a wide array of restructuring, bankruptcy, and insolvency cases, focusing his practice on contested bankruptcy proceedings, lender liability, fraudulent conveyances, complex commercial litigation, and other distressed debt investment situations.
Daniel regularly represents private equity firms and other financial institutions in claims brought by litigation trustees arising out of their former portfolio companies and other investments. He also has deep experience advising companies and financial institutions in cross-border insolvency and chapter 15 cases.
Daniel is an effective litigator who is comfortable handling disputes surrounding the most complex commercial and financial instruments across a broad range of industries and practice areas. Drawing on his broad base of skill sets—from core litigation to core restructuring—he crafts cutting-edge financial solutions and helps his clients address the legal fallout when transactions and deals go awry.
- Debtor Experience
- Represents Puerto Rico Electric Power Authority in its historic restructuring of over $9 billion in debt. One of lead lawyers opposing efforts by certain creditors to lift the automatic stay to get a receiver appointed.
- Represents Verso Corporation in its chapter 11 cases, successfully leading negotiations over a litigation protocol to avoid protracted and complex litigation at the outset of the bankruptcy cases over intercompany agreement.
- Represents Cal Dive Corporation in its chapter 11 cases, successfully litigating several disputes, including overcoming an objection to DIP financing and defeating a motion to appoint an official committee of maritime class lienholders.
- Acted as one of the lead lawyers representing joint provisional liquidators in obtaining recognition under chapter 15 of the Bankruptcy Code of a Cayman provisional liquidation proceeding. Led the strategy in defeating an objection to recognition and a motion to transfer venue. Took the lead on coordinating and preparing discovery, briefing, trial, and post-trial briefing. In re Suntech Power Holdings Co., Ltd., 520 B.R. 399 (Bankr. S.D.N.Y. 2014).
- Creditor Experience:
- Represents a large secured creditor in the Energy Futures Holdings chapter 11 case, taking the lead role in formulating a bankruptcy strategy to maximize client’s recoveries and a litigation strategy to address numerous contested matters. Daniel has also taken the lead role in litigating two intercreditor disputes, successfully transferring venue of one such suit (over a cross motion to remand back to state court) to the Delaware Bankruptcy Court, Delaware Trust Co. v. Wilmington Trust, N.A., 534 B.R. 500 (S.D.N.Y. 2015). In the other case, he led efforts to obtain dismissal with prejudice of a complaint seeking a priority distribution to between $500 and $600 million of collateral. Marathon Asset Mgmt., LP, et al. v. Wilmington Trust, N.A., et al. (In re Energy Future Holdings Corp.), 548 B.R. 79 (Bankr. D. Del. 2016). The decision was affirmed twice on appeal. Marathon Asset Mgmt., LP, et al. v. Angelo Gordon & Co. LP, et al. (In re Energy Future Holdings Corp.), 2017 WL 1170830 (D. Del. Mar. 28, 2017), aff’d, 2018 WL 3752231 (3d Cir. Aug. 8, 2018).
- Represents funds affiliated with Franklin Advisers, Inc. as majority DIP lender and stalking horse buyer in chapter 11 case for Appvion Paper. Daniel led successful efforts to achieve roll-up of $240 million of first lien debt at the outset of the case and acquire substantially all of Appvion’s assets in a credit bid as part of contested 363 sale.
- Represents ad hoc group of first lien lenders in Fieldwood’s 2018 prepackaged bankruptcy cases.
- Lead lawyer representing Capital One as RBL agent in Castex’s chapter 11 case. Successfully led efforts to negotiate to consensual resolution of numerous open issues with the Creditors Committee and to obtain confirmation of a plan over the objection of the former preferred shareholder.
- Represented a bondholder group that commenced involuntary chapter 11 bankruptcy case against an Indonesian shipping company that was attempting to restructure its obligations in Singapore and Indonesia. Acted as the lead counsel on the US team, taking the lead in developing the US-based strategy.
- Other Litigation and Bankruptcy Experience:
- Represents large private equity firm defending a series of lawsuits brought by the litigation trustee for CORE Media, the former owner of American Idol and other television assets.
- Represents the reorganized Remington entities with respect to post-confirmation litigation trust matters following Remington’s 2018 prepackaged bankruptcy cases.
- Represents a large financial institution in Madoff and Fairfield bankruptcy cases in connection with fraudulent conveyance and avoidance action lawsuits.
- Represents a major financial institution in the Tribune Company bankruptcy case in Delaware and related MDL litigation in connection with allegations that a multi-billion dollar leveraged buyout constituted a fraudulent conveyance and financial advisory services provided in connection with the leveraged buyout constituted malpractice and aided and abetted breaches of fiduciary duties.
- Led effort to prepare expert report on the solvency of a US$50 billion mortgage origination business on behalf of a large financial institution defending claims that it was successor-in-interest to a mortgage originator it acquired, and that it impliedly assumed the mortgage originator’s obligations.
- Represented a former landlord for Dewey & Leboeuf in a dispute over a lease rejection.
- New York
- US District Court, Eastern and Southern Districts of New York
- US District Court, Northern District of Florida
- US Court of Appeals, Third Circuit
- Georgetown University, J.D.: cum laude; Lead Articles Editor, The Tax Lawyer
- Columbia University, A.B., English Literature: cum laude; with distinction
- Honorable Martin Glenn, US Bankruptcy Court, Southern District of New York
- American Bankruptcy Institute
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