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ProfessionalsWilliam A. Clareman

William A. Clareman
Partner

Tel: +1-212-373-3248
Fax: +1-212-492-0248
wclareman@paulweiss.com

+1-212-373-3248
New York

1285 Avenue of the Americas
New York, NY 10019-6064
Fax: +1-212-492-0248

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Education 
Clerkship 
Bar Admissions 
Education 
Clerkship 
Bar Admissions 

A partner in the Litigation Department, William (“Billy”) Clareman represents clients in a range of bankruptcy and restructuring matters, and complex securities and commercial disputes.

EXPERIENCE

Billy’s recent bankruptcy and restructuring representations include:

  • Pioneer Energy Services Corp., an oil and gas services company, in chapter 11 proceedings, including challenges to plan confirmation based on alleged material adverse effects associated with COVID-19;
  • An ad hoc group of senior secured creditors of Oro Negro, a Mexican offshore drilling company, in chapter 15 proceedings in the Southern District of New York, and adversary proceedings by former managers of the company against the ad hoc group;
  • An indenture trustee and collateral agent in litigation in the District Court for the Southern District of New York concerning the enforceability of senior secured notes issued by Petroleos de Venezuela, S.A.;
  • An ad hoc group of unsecured noteholders in connection with the chapter 11 cases of Dean Foods Company, the largest processor and direct-to-store distributor of fresh fluid milk and other dairy products in the United States;
  • An ad hoc group of holders of securities issued by Exide Technologies, a global manufacturer of automotive and industrial batteries, in Exide’s chapter 11 proceedings;
  • An ad hoc group of creditors of California Resources Corporation, an independent, publicly traded oil and natural gas exploration and production company with the largest oil and natural gas production operations in California, in its pending chapter 11 cases. The company’s plan provides for the restructuring of over $5.8 billion of debt and preferred equity interests;
  • An ad hoc committee of noteholders in the chapter 11 restructuring of Whiting Petroleum, one of the largest independent exploration and production companies in the U.S. with over $3.4 billion in funded debt obligations;
  • Citigroup, Inc. in various litigations relating to Lehman Brothers’ chapter 11 and SIPC proceeding, including a six-month trial challenging multi-billion dollar claims by Citigroup arising from terminated derivative trades;
  • Directors of a bankrupt financial services firm in defense of an action by litigation trustee for breach of fiduciary duty.

Billy’s recent securities and commercial litigation matters include:

  • The Kraft Heinz Company in federal securities cases, shareholder derivative suits, and an ERISA stock drop action;
  • Citigroup in an antitrust class action relating to interest rate swap trading;
  • The Bank of New York Mellon in two class actions related to foreign exchange pricing for American Depositary Receipts;
  • Omega Protein Corporation and its board of directors in shareholder lawsuits filed in state and federal courts arising out of a merger with Cooke Inc.; and
  • The CEO and CFO of a public pharmaceutical company in securities litigations concerning statements to investors.

Billy was named to Benchmark Litigation’s 2019 “40 & Under Hot List – Northeast,” which recognizes the top up-and-coming talent in their respective litigation communities in the U.S. and Canada. Billy also maintains an active pro bono practice, including a successful representation in New York State Court of an indigent man wrongfully convicted of murder. Billy was part of a team that successfully overturned the conviction on appeal, and subsequently obtained an acquittal on all counts at trial.

In law school, Billy served as book review editor for the Cornell Law Review.

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