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ProfessionalsWilliam A. Clareman

William A. Clareman

Tel: +1-212-373-3248
Fax: +1-212-492-0248

Tel: +1-212-373-3248
New York

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

Bar Admissions 
Bar Admissions 

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


Billy’s recent bankruptcy and restructuring representations include:

  • Diamond Sports Group, the nation’s largest owner of regional sports networks, in its chapter 11 cases filed in the Bankruptcy Court for the Southern District of Texas. In connection with its filing, Diamond entered into a restructuring support agreement with the company’s creditors that would eliminate over $8 billion of its outstanding debt as well as in an adversary proceeding seeking to recover $1.5 billion arising from pre-petition transactions
  • Revlon, a leading global beauty company, and certain of its subsidiaries in discovery, depositions, and hearings related to their chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York and as counsel to Revlon in is successful defense in an adversary proceeding by pre-petition lenders alleging breach of credit agreements and other claims, achieving complete dismissal of all claims against Revlon
  • Counsel to TV Azteca in its defense against an involuntary bankruptcy petition
  • An ad hoc group of first lien, second lien, and unsecured lenders in the chapter 11 restructuring of Endo Pharmaceuticals, a specialty pharmaceutical company. The group comprised approximately of $3.2 billion, nearly forty percent, of the company’s funded debt
  • Madison Square Boys & Girls Club, a not-for-profit organization, in its chapter 11 case filed in the Southern District of New York to address claims arising under the New York Child Victims Act
  • Successful defense, argued in the Fifth Circuit Court of Appeals, of Hartree Partners’ entitlement to a break-up fee and expense reimbursement as stalking horse bidder for certain assets of Bouchard Transportation, in a sale under section 363 of the Bankruptcy Code in the company’s chapter 11 cases
  • Co-counsel to Apollo Global Management, as DIP lender in the chapter 11 proceedings and contested confirmation process for Grupo Aeroméxico, the flag carrier airline of Mexico
  • Glass Mountain, the owner of a 450-mile pipeline providing crude oil transportation and storage services, in a comprehensive restructuring with its equity sponsor and secured lenders that resulted in a reduction of over $230 million in debt
  • Affiliates of Prudential Capital Partners and Onex Falcon as petitioning creditors in the involuntary chapter 11 cases and subsequent consensual out-of-court restructuring of American Achievement Corporation, a leading publisher of yearbooks, manufacturer and direct marketer of scholastic and graduation products, and provider of graduation commencement services
  • 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
  • The Collegiate Churches of New York, the oldest operating church in the United States, in connection with its investment in a major commercial real estate development project in New York City, and related New York Supreme Court litigation, which was dismissed against the Churches in full
  • 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 noteholdersin 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 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
  • 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.
  • The CEO and CFO of a public pharmaceutical company in securities litigations concerning statements to investors

Billy was named to the 2023 and 2022 Lawdragon “500 Leading U.S. Bankruptcy and Restructuring Lawyers List” and 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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