• Nancy M. Bello works on bankruptcy and restructuring matters. Nancy assists in the representation of significant parties, including bondholders, indenture trustees, and secured and unsecured creditors in complex Chapter 11 bankruptcy cases, out-of-court restructurings and other distressed situations, including some of the most high-profile matters in recent years. Her work also involves municipal bankruptcies, including the Commonwealth of Puerto Rico debt restructurings.

    As a member of the core bankruptcy team, Nancy assisted in the representation of OppenheimerFunds/Invesco in the restructuring of bonds issued by the Commonwealth of Puerto Rico in both court-supervised restructurings under the federal Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) and out-of-court restructuring arrangements, and in the representation of mutual funds holding more than $3 billion in bonds issued by the Puerto Rico Sales Tax Financing Corp. (COFINA) in a restructuring under PROMESA, including intercreditor and interdebtor litigation that culminated in a global settlement and a confirmed plan of adjustment.

    Her recent corporate restructuring work includes assisting in the representation of the Official Committee of Unsecured Creditors in the Chapter 11 cases of electric generation and transmission cooperative Brazos Electric Power Cooperative Inc.; Eagle Hospitality Trust (Eagle Hospitality Group), a real estate investment trust that owns and operates hotel properties across the U.S.; restaurant companies RTI Holding Company, LLC (Ruby Tuesday, Inc.), and California Pizza Kitchen; RAIT Funding LLC, a real estate investment trust with more than $167 million in funded debt; and Hexion Inc., a specialty chemical company burdened by approximately $3.8 billion of debt.

    Nancy also served as a member of the bankruptcy team representing an ad hoc group of first lien term lenders in the Chapter 11 bankruptcy of Payless Inc., the largest specialty family footwear retailer in the Western Hemisphere. The ad hoc group provided Payless with approximately $25 million of debtor-in-possession (DIP) financing in connection with the bankruptcy filing.

    Among her recent work, Nancy is a member of the bankruptcy team representing an ad hoc group of first lien lenders in connection with the Chapter 11 proceedings commenced by Diamond Sports Group and certain of its affiliates who own a portfolio of regional sports networks with exclusive broadcasting rights to 42 professional sports teams, including NBA, MLB and NHL teams.

    Experience

    • Brazos Electric Power Cooperative Inc. – Assisting in the representation of the Official Committee of Unsecured Creditors of Brazos Electric Power Cooperative Inc., which filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of Texas on March 1, 2021.

    • Eagle Hospitality Trust (Eagle Hospitality Group) – Assisting in the representation of the Official Committee of Unsecured Creditors of Eagle Hospitality Trust (Eagle Hospitality Group), which filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware on Jan. 18, 2021.

    • RTI Holding Company, LLC (Ruby Tuesday, Inc.) – Assisted in the representation of the Official Committee of Unsecured Creditors of RTI Holding Company, LLC (Ruby Tuesday, Inc.), which filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware on Oct. 7, 2020.

    • California Pizza Kitchen – Assisted in the representation of the Official Committee of Unsecured Creditors of California Pizza Kitchen, Inc. and affiliates, which filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of Texas on July 30, 2020.

    • Commonwealth of Puerto Rico – Assisted in the representation of OppenheimerFunds/Invesco in the restructuring of bonds issued by the commonwealth of Puerto Rico and its instrumentalities, in both court-supervised restructurings pursuant to Title III of the federal Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) restructuring law and out-of-court restructuring arrangements.

    • Puerto Rico COFINA Restructuring – Assisted in the representation of mutual funds holding more than $3 billion in bonds issued by the Puerto Rico Sales Tax Financing Corp. (COFINA), in a restructuring under Title III of PROMESA, including intercreditor and interdebtor litigation that culminated in a global settlement and a confirmed Plan of Adjustment.

    • Payless – Assisted in the representation of an ad hoc group of first lien term lenders of Payless Inc., the largest specialty family footwear retailer in the Western Hemisphere with approximately 3,400 stores in more than 40 countries. Payless filed for Chapter 11 bankruptcy in the Eastern District of Missouri in February 2019. The ad hoc group provided Payless with approximately $25 million of DIP financing in connection with the bankruptcy filing.

    • RAIT Funding LLC – Assisted in the representation of the Official Committee of Unsecured Creditors in the bankruptcy cases of RAIT Funding LLC, a real estate investment trust. The five-member Creditors’ Committee comprised the Bank of New York Mellon Trust, Wells Fargo, UMB Bank, Rangeley Capital and Matthew Page. The company (which has more than $167 million in funded debt) sought Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware on Aug. 30, 2019.

    • Hexion Inc. – Assisted in the representation of the Official Committee of Unsecured Creditors of Hexion Inc. Burdened by approximately $3.8 billion of debt, near-term maturities and liquidity issues, the company sought Chapter 11 protection in federal court in Wilmington, Delaware, on April 1, 2019, with an RSA supported by various secured and unsecured noteholder groups.

    Credentials

    Education

    • J.D., cum laude, St. John’s University School of Law, 2016
      • Editor-in-Chief, American Bankruptcy Institute Law Review
      • Member, Moot Court Honor Society
      • ABI Medal for Excellence in Bankruptcy Studies
      • Pro Bono Service Award
    • B.A., cum laude, Legal Studies, minor in Business, Quinnipiac University, 2013

    Bar Admissions

    • New York, 2017

    Court Admissions

    • U.S.D.C., Southern District of New York, 2020
    • U.S.D.C., Eastern District of New York, 2020

    Focus Areas

  • Perspectives

    • Broken Bench Bytes
      Dec. 13, 2023
      Getting Public Information in Chapter 11
      Read More
    • Client Alerts
      Dec. 13, 2023
      Getting Public Information in Chapter 11
      Read More
    • Defining Matters
      Nov. 07, 2023
      Kramer Levin Selected as Counsel to Unsecured Creditors Committee of Rite Aid
      Read More
    • Broken Bench Bytes
      Sept. 14, 2023
      New York Bankruptcy Court Raises the Cost of Keeping Funded Debt: Debtor Needs to Pay Default Interest Rate in Reinstatement of Accelerated Debt
      Read More
    • Defining Matters
      March 03, 2023
      Kramer Levin Retained by Ad Hoc Group of First Lien Lenders to the Diamond Sports Group
      Read More
    • Articles
      May 28, 2022
      Breaking the Seal and Restoring the Fishbowl
      Read More
    • Broken Bench Bytes
      Jan. 10, 2022
      Bankruptcy Court Holds Arbitration Clause Unenforceable When Underlying Contract Is Rejected Pursuant to Section 365 of the Bankruptcy Code
      Read More
    • Broken Bench Bytes
      Nov. 17, 2021
      Second Circuit Affirms That Some Private Student Loans Are Dischargeable in Bankruptcy
      Read More
    • Broken Bench Bytes
      Feb. 18, 2021
      Third Circuit Denies Appeal of Confirmation Order as Equitably Moot
      Read More
    • Defining Matters
      Feb. 08, 2021
      Kramer Levin Selected as Counsel to Unsecured Creditors Committee of Eagle Hospitality Trust
      Read More
    • Defining Matters
      Jan. 21, 2021
      Kramer Levin Helps LGBTQ Refugees Apply For Asylum Before “Death to Asylum” Rules Were to Go Into Effect
      Read More
    • Defining Matters
      Oct. 27, 2020
      Kramer Levin Selected as Counsel to Unsecured Creditors Committee of RTI Holding Company, LLC (Ruby Tuesday, Inc.)
      Read More
    • Defining Matters
      Sept. 09, 2020
      Kramer Levin Selected as Counsel to Unsecured Creditors Committee of California Pizza Kitchen, Inc.
      Read More
    • Broken Bench Bytes
      Aug. 14, 2020
      Bankruptcy Court Holds Committee of Unsecured Creditors Cannot Obtain Derivative Standing When Debtor Is a Delaware Limited Liability Company
      Read More
    • COVID-19 Legal Resource Guide
      May 20, 2020
      Bankruptcy Courts Authorize Debtors to Defer Post-Petition Rent Payments Amid COVID-19 Store Closures
      Read More
    • Defining Matters
      April 13, 2020
      Effective Date of the RAIT Chapter 11 Plan
      Read More
    • Client Alerts
      March 11, 2020
      In Decision With Important Tax and Bankruptcy Implications, Supreme Court Rejects Application of So-Called 'Bob Richards Rule'
      Read More
    • Broken Bench Bytes
      Feb. 14, 2020
      Delaware Bankruptcy Court Declines To Dismiss Fraudulent Transfer Suit Filed Seven Years After Challenged Transaction Occurred
      Read More
    • Defining Matters
      Jan. 15, 2020
      Kramer Levin Represents Lender Group in Payless Restructuring
      Read More
    • Broken Bench Bytes
      Aug. 23, 2019
      Bankruptcy Court Clarifies Requirements for Recognition of a Foreign Proceeding Under Chapter 15
      Read More
    • Broken Bench Bytes
      Aug. 23, 2019
      Insurance Company Cannot Deny D&O Coverage for Acts Causing Bankruptcy
      Read More
    • Broken Bench Bytes
      June 26, 2019
      Creditors of a Limited Partnership or a Limited Liability Company Lack Standing to Sue Derivatively Under Certain State Laws
      Read More
    • Defining Matters
      April 18, 2019
      Kramer Levin Selected as Counsel to Unsecured Creditors Committee of Hexion
      Read More
    • Broken Bench Bytes
      Feb. 15, 2019
      Bankruptcy Court for the Southern District of New York Holds That Bankruptcy Court Retains Jurisdiction Over Fraudulent Transfer Action Even If Defendant-Creditor Withdraws Proof of Claim
      Read More
    • Broken Bench Bytes
      Dec. 06, 2018
      Third Circuit Upholds Right of Tenant to Continued Possession of Rejected Lease Premises and Reduced Rent Payable to Purchaser After Sale of Premises
      Read More