Philip Bentley - Kramer Levin Naftalis & Frankel LLP

Philip Bentley

Listed in Best Lawyers since 2013

Mr. Bentley, a litigator and bankruptcy lawyer, has more than 20 years of experience handling complex bankruptcy litigations and investigations on behalf of official creditors’ committees, creditor groups, debtors, trustees and examiners in bankruptcy courts, district courts and courts of appeal.

Yale UniversityBA 1981Columbia University School of LawJ.D. 1984

Case History

General Motors — In the General Motors bankruptcy, Mr. Bentley represented the Official Creditors Committee in litigation over GM's aggregate asbestos liabilities, which were alleged to exceed $1 billion. The resulting settlement fixes GM's asbestos liabilities at an amount lower than its previously-reported reserve, the first time such a result has ever been achieved in bankruptcy.
W.R. Grace — In the W.R. Grace bankruptcy, in which billions of dollars of asbestos claims were asserted, he has represented the Official Equity Committee for the past 10 years. The confirmed plan of reorganization leaves the great majority of the equity in the hands of pre-petition shareholders, an unprecedented result in an asbestos-driven bankruptcy.
Ambac — In the Ambac insurance rehabilitation, Mr. Bentley represented holders of Las Vegas Monorail bonds in litigation challenging their treatment, as well as Ambac's $4 billion settlement of its credit default swap obligations. The litigation was settled on favorable terms, including cash payments by Ambac of obligations that would not have come due for 20 or more years.
Madoff — Mr. Bentley heads the firm's Madoff Task Force and represents defrauded investors in "clawback" litigation by Madoff’s trustee seeking the return of hundreds of millions of dollars of alleged fictitious profits.
WorldCom — In the WorldCom bankruptcy, he represented subordinated MCI bondholders in litigation opposing confirmation of WorldCom's initial plan of reorganization. After 3 1/2 months of intensive litigation, the eve-of-trial settlement paid $334 million to the bondholder class, increasing their recovery from zero to 44 percent.

Office Location

1177 Avenue of the Americas
New York, NY 10036
United States

Practice Areas

Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law

Other Information

Gender: Male