Naznen Rahman

Naznen has represented:

• The ad hoc committee of shareholders of Hertz Global, Inc., in its Chapter 11 cases. Glenn Agre structured a winning bid for a group of investors in collaboration with Knighthead Capital Management and Certares Management LLC that valued Hertz at $7 billion, offered it a path out of Chapter 11, and gave shareholders what was once thought impossible: $8 per share, marking a positive return on any stock bought after the company’s bankruptcy filing.
• The Official Committee of Equity Securities Holders of Garrett Motion Inc., a manufacturer of turbochargers, in its Chapter 11 cases. Glenn Agre, on behalf of the equity committee, objected to the debtors’ proposed Chapter 11 plan, which would have left minority shareholders with nearly worthless stock subordinated to billions in obligations to other shareholders. The equity committee’s efforts to guaranty equal treatment to all shareholders resulted in a mediation that led to the negotiation of a consensual Chapter 11 plan, giving minority shareholders significantly enhanced recoveries in the form of the right to receive convertible preferred stock or a cash payout.
• Ambac Assurance Corporation, a financial guarantee insurance company, in connection with Puerto Rico’s restructuring proceeding under Title III.
• An ad hoc group of lenders and noteholders of Talen Energy as conflicts counsel.
• An ad hoc group of unsecured claimholders of Grupo Aeroméxico as conflicts counsel.
• A pharmaceutical company in multiple Hatch-Waxman patent infringement actions involving generic versions of diabetes and cancer drugs.
• One of the nation’s largest chicken producers in resolving criminal claims relating to the U.S. Department of Justice Antitrust Division’s high-profile investigation into alleged price fixing in the poultry industry.

• 3^rd Decision Casts Doubt on Gifts to Individual Class Members, Turnarounds & Workouts (September 2021) Read here.