William Gray, Jr.

Partner - New York

Wiliam Gray
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wgray@foleyhoag.com Download vCard

Bill Gray is a partner in Foley Hoag's Bankruptcy & Creditors' Rights practice. He represents financial institutions, creditors, borrowers, strategic investors, real estate lenders and committees in complex restructurings and bankruptcy mergers and acquisitions both in and out of Court. Bill's practice also encompasses representation of DIP lenders, asset-based lenders and providers of chapter 11 exit financing.  He has extensive litigation experience, particularly with regard to fraudulent conveyances, preferences, and other avoidance actions. Bill regularly advises officers and directors of companies in troubled financial circumstances on their fiduciary duties and other obligations. He believes in the value of proactive counseling to assist in structuring transactions to mitigate insolvency risks and to limit the adverse impact of bankruptcy filings.

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  • New York University School of Law, J.D., 1980
  • Columbia University, B.A., 1977



Representative Experience

  • Represented Nortel U.S. group of companies on numerous insolvency and litigation issues relating to its cross-border restructuring under the CCAA and Chapter 11, the sales of its business and assets in a series of auctions, and the global settlement of the disputes over apportionment of more than $7 billion of assets.
  • Represented Compass Partners in its acquisition of the intellectual property and other assets of The Big Apple Circus through a Chapter 11 bankruptcy auction.
  • Advised the New York Power Authority regarding its claims in the Sun Edison Chapter 11 case.
  • Represented multiple Canadian pension funds in defense of allegations of constructive fraudulent conveyance claims in Tribune Company’s Chapter 11 case.
  • Represented Cosmetic Essence, the fragrance and packaging company, in its out-of-court debt restructuring and equity recapitalization.
  • Advised a private equity fund on the acquisition of a portfolio of distressed investments.
  • Advised the U.S. subsidiary of a Chinese shipping and logistics company regarding its distressed trucking business, including advice on substantive consolidation and other issues relating to insulating the company from bankruptcy risk.


  • Turnaround Management Association’s Merger & Acquisition Award in the individual consumer category for The Big Apple Circus (2018)
  • Global Restructuring Review’s International Restructuring Deal of the Year Award for Nortel Networks Inc. (2017)
  • Super Lawyers Magazine—Leading lawyer in bankruptcy and creditor/debtor rights (2006-2019)


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Bar Admissions

  • New York

Court Admissions

  • U.S. District Court for the Southern District of New York
  • U.S. District Court for the Eastern District of New York
  • U.S. Court of Appeals for the Second Circuit
  • U.S. Court of Appeals for the Third Circuit