Mark R. Somerstein
Mark Somerstein represents secured and unsecured creditors, official and unofficial committees, indenture trustees and loan agents for defaulted debt, debtors, debtor in possession lenders, commercial landlords, and holders of public debt securities in complex cases arising under Chapter 11 of the Bankruptcy Code, and in out-of-court workouts and pre-packaged and pre-negotiated bankruptcy cases. He also has experience representing parties to preference and fraudulent conveyance litigation and counsels purchasers and sellers of distressed assets in "section 363 sales," and purchasers and sellers of distressed debt and bankruptcy claims.
Prior to joining Ropes & Gray, Mark was a partner of a large New York-based law firm.
- Official Committee of Unsecured Creditors of Weatherford International, plc, Official Committee of Unsecured Creditors of Magnum Hunter Resources Corporation, Official Committee of Unsecured Creditors of Sabine Oil & Gas Corporation, Official Committee of Unsecured Creditors of Perkins & Marie Callender, Inc., Official Committee of Unsecured Creditors of R.H. Donnelley Corporation, Official Committee of Unsecured Creditors of Charter Communications, Inc., Official Committee of Unsecured Creditors of Wellman, Inc., Official Committee of Unsecured Creditors of Special Devices, Inc., Official Committee of Unsecured Creditors of Atlas Air, Inc., Official Committee of Unsecured Creditors of Verestar, Inc., Official Committee of Unsecured Creditors of Gividi, Inc., Official Committee of Unsecured Creditors of WorldCom, Inc. (special counsel).
- Ankura Trust Company, BOKF, N.A., Delaware Trust Company, Deutsche Bank Trust Company Americas, UMB Bank, N.A., Wilmington Savings Fund Society FSB, and Wilmington Trust, N.A., as indenture trustee (often as a member of the official committee of unsecured creditors) and as administrative and/or collateral agent, in numerous chapter 11 cases in the United States and in international insolvency proceedings, including many of the largest pending proceedings.
- The Special Committee of the Sanchez Energy Board of Directors to conduct an investigation into, and pursue or resolve, potential causes of action against affiliated entities or individuals in connection with related party transactions.
- The independent manager of debtor FirstEnergy Nuclear Generation, LLC in the multi-billion dollar chapter 11 bankruptcy cases of FirstEnergy Solutions Corporation and certain affiliates pending in the U.S. Bankruptcy Court for the Northern District of Ohio.
- Pension Benefit Guaranty Corporation in In re UAL (United Airlines), In re US Airways, In re Delphi, and In re Delta Airlines.
- Silicon Graphics, Inc. (Lead Counsel to the Debtors and Debtors in Possession).
- Ad hoc committee of second lien lenders and second lien noteholders of CalGen Corp. in the chapter 11 cases of In re Calpine Corp.
- Ad hoc committee of bondholders in connection with a rights offering and section 363 acquisition of substantially all of the assets of Tower Automotive, Inc.
- DIP and Exit Lenders in In re Port Townsend, Inc.
- Interviewed, Reddit Talk (July 25, 2022)
- Presenter, Reddit Talk podcast on cryptocurrency lender Celsius Network collapse and Chapter 11 bankruptcy filing (July 25, 2022)
- Panelist, “When is Adequate Protection Not Adequate?,” Valcon 2018: Cutting-Edge Valuation Solutions (May 17, 2018)
- JD, Hofstra University School of Law, 1990
- BS, Tufts University, 1987
Admissions / Qualifications
- New York, 1991
- New Jersey, 1990
- Supreme Court of the United States, 2013
- U.S. Court of Appeals for the Second Circuit, 2014
- U.S. Court of Appeals for the Third Circuit, 2001
- U.S. District Court for the Southern District of New York, 1993
- U.S. District Court for the Eastern District of New York, 1993
- U.S. District Court for the District of New Jersey, 1990
- IFLR 1000 (2018-2023)
- Benchmark Litigation "National Litigation Star" (2018)
- Benchmark Litigation “Local Litigation Star” (2017)
- Legal 500 (2016-2018)
- Chambers USA: America's Leading Lawyers for Business (2012-2021)
- New York Super Lawyers (2012-2021)
- Outstanding Young Restructuring Lawyer, Turnarounds & Workouts magazine (2005)