LAWYER
David A. Herman
Partner | New York
David A. Herman

David A. Herman, a partner in Dechert’s financial restructuring group, represents clients in complex chapter 11 and municipal bankruptcy cases, out-of-court restructuring matters, and high-stakes bankruptcy litigation. Mr. Herman combines expertise in all aspects of financial restructuring with first-chair trial experience and more than 15 years litigating in trial and appellate courts.

Mr. Herman has represented debtors and creditor parties in many of the most complex and contentious U.S. bankruptcy proceedings in recent years. His experience includes the bankruptcy cases of LATAM Airlines, PG&E Corporation, The Weinstein Company, Sears, Roebuck and Co., Eletson Holdings, and the Puerto Rico Electric Power Authority (PREPA). He also represented the Republic of Argentina in its 2016 sovereign debt restructuring. 

Mr. Herman’s litigation matters have involved contested plan confirmation proceedings, debtor-in-possession and exit financing, equity backstop arrangements, contested asset sales, fraudulent conveyance claims, valuation disputes, and claims for breach of fiduciary duty. He also has significant experience in bankruptcy and other appeals, including litigating cases before the U.S. Supreme Court and the U.S. Courts of Appeals.

He has devoted a significant portion of his practice to cross-border matters, particularly matters involving jurisdictions in Latin America or Latin American parties. Those matters have included representing sovereign and commercial actors in restructuring and litigation matters as well as representing parties in connection with internal investigations and regulatory inquiries.

Mr. Herman is recognized for financial restructuring by The Legal 500 US and banking & finance by The Legal 500 Latin America. In 2022, he was named as one of the “40 Under 40” by the American Bankruptcy Institute (ABI).

Key Matters

  • The PREPA Ad Hoc Group formed by holders of revenue bonds issued by the Puerto Rico Electric Power Authority (PREPA), a public electric utility company in Puerto Rico, in connection with PREPA’s Title III restructuring and related litigation under PROMESA.
  • The Official Committee of Unsecured Creditors in the Chapter 11 cases of LATAM Airlines Group and its affiliates.
  • The Creditors’ Committee of Eletson Holdings Inc., a Greek shipping company that owns directly and indirectly 16 vessels, which was filed in the Southern District of New York for involuntary bankruptcy in March 2023 and Chapter 11 bankruptcy in September 2023. Following a week-long trial in September 2024, the Court ruled for Dechert’s clients, rejecting Eletson’s proposed plan of reorganization and confirming a creditor-sponsored plan. As a result, Eletson emerged from Chapter 11 with new leadership, financial resources, and no debt.
  • Transform Holdco LLC before the United States Supreme Court in MOAC Mall Holdings LLC v. Transform Holdco LLC, no. 21-1270, and in the District Court and Court of Appeals on remand, in disputes arising out of the Chapter 11 bankruptcy proceedings of Sears, Roebuck and Co.
  • PG&E Corporation in connection with litigation and debtor-in-possession financing matters relating to PG&E’s reorganization proceedings under Chapter 11.
  • The Weinstein Company (TWC) and its affiliates in their Chapter 11 cases and in connection with the sale of TWC’s assets to Lantern Entertainment.
  • The Republic of Argentina in connection with its 2016 sovereign debt restructuring and litigation brought by holders of its defaulted debt.

Includes matters handled at Dechert and prior to joining the firm.

  • The PREPA Ad Hoc Group formed in connection with the Title III reorganization of the Puerto Rico Electric Power Authority (PREPA), one of several debtors in the Commonwealth of Puerto Rico Title III cases and related litigation. 
  • The Official Committee of Unsecured Creditors in the chapter 11 cases of LATAM Airlines Group and its affiliates.
  • Transform Holdco LLC before the United States Supreme Court in MOAC Mall Holdings LLC v. Transform Holdco LLC, no. 21-1270, arising out of the Chapter 11 bankruptcy proceedings of Sears, Roebuck and Co.
  • PG&E Corporation in connection with litigation and debtor-in-possession financing matters relating to PG&E’s reorganization proceedings under Chapter 11.
  • The Weinstein Company (TWC) and its affiliates in their chapter 11 cases and in connection with the sale of TWC’s assets to Lantern Entertainment.
  • The Republic of Argentina in connection with its 2016 sovereign debt restructuring and litigation brought by holders of its defaulted debt.
  • Wilmington Savings Fund Society, FSB, the indenture trustee of $350 million in bonds issued by Eletson Holdings Inc. (a Greek shipping company) in connection with litigation against Eletson for default under the bonds in the SDNY district court and involuntary proceedings commenced against Eletson in March 2023 in the SDNY bankruptcy court.
  • The Federal Emergency Management Agency (FEMA) and the U.S. Department of Treasury in connection with structuring and negotiating community disaster loans made available to Puerto Rico and the U.S. Virgin Islands at a time when Puerto Rico and a number of its instrumentalities had filed for bankruptcy relief under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA).
  • Stanley Black & Decker (SBD) on litigation and bankruptcy matters related to its acquisition of the Craftsman brand from Sears Holdings Corporation, including successfully representing SBD in arbitration proceedings related to the acquisition.
  • Big Lots and individual defendants in securities and derivative litigation alleging insider trading and misstatements regarding the company’s performance and prospects.
  • YPF S.A. in connection with claims by minority shareholders arising out of Argentina’s 2012 expropriation of a controlling stake in YPF.
  • PricewaterhouseCoopers LLP in lawsuits relating to AIG’s credit default swaps and the federal government’s 2008 support package.
  • PricewaterhouseCoopers Ireland in securities class actions involving investment funds that lost money in Bernard L. Madoff’s Ponzi scheme. 
  • Telia Company in connection with FCPA investigations by the SEC, DOJ and Swedish and Dutch authorities.
  • A consumer products company in a DOJ investigation into potential money laundering issues related to its operations in Venezuela.

Includes matters handled at Dechert or prior to joining the firm.

  • Cross-Border Case Law Updates — ABI's International Insolvency & Restructuring Symposium & Cross-Border Insolvency Program, Virtual Conference (November 18, 2021)
Services
    • University of Pennsylvania, B.A., 2004, summa cum laude, Phi Beta Kappa
    • New York University School of Law, J.D., 2007, magna cum laude; Order of the Coif; Articles Editor, NYU Law Review
    • New York
    • Supreme Court of the United States
    • United States District Court for the Eastern District of New York
    • United States District Court for the Southern District of New York
    • United States Court of Appeals for the First Circuit
    • United States Court of Appeals for the Second Circuit
    • English
    • Spanish
    • American Bankruptcy Institute (ABI), Bankruptcy Litigation Committee
    • New York City Bar Association
    • New York American Inn of Court
    • United States District Court for the Eastern District of New York, Honorable Carol Bagley Amon

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