Harvey R. Miller Outstanding Achievement Award for Service to the Restructuring Industry
2025 Award Recipient
John J. Ray III
Please join us in congratulating Mr. John J. Ray III as the 2025 recipient of the Harvey Miller Award.
John J. Ray III serves as Chief Restructuring Officer, Litigation Trustee, and Plan Administrator of Chapter 11 Debtors with 43 years experience, including the private practice of law and service as General Counsel and Chief Administrative Officer of multiple public companies. Mr. Ray has extensive experience navigating complex Chapter 11 proceedings and post confirmation liquidations and litigation.
Mr. Ray currently serves as CEO and Trustee of the FTX Recovery Trust, subsequent to the emergence of FTX from Chapter 11. Mr. Ray was appointed CEO and CRO upon FTX’s Chapter 11 filing in November 2023 following the discovery of billions in misappropriated customer funds. Through his leadership, Mr. Ray steered FTX towards a confirmed plan of reorganization in 24 months that projects to pay customers in full with 9% interest and projected high end customer recoveries of 143%.
With a career spanning over four decades, Mr. Ray has played pivotal roles in numerous high-profile cases, including Nortel Networks where he served as Principal Officer leading to recoveries in full for US creditors, Enron where he served as post confirmation CEO and Chairman of the Board of Directors overseeing Enron’s $23 billion liquidation and the recovery of 200% of the plan's estimated recovery, Residential Funding/GMAC Mortgage, where he recovered $1.8 billion for creditors through the prosecution of warranty and indemnity claims, and Overseas Shipping Group, where he successfully reorganized the company, resulting in full repayment to unsecured creditors and a 1.5 billion rights offering to shareholders in the money.
His expertise extends to infrastructure development projects in South Africa, as well as board memberships and advisory roles for companies such as Burlington Industries, GT Technologies and Polaroid Corporation. From 1998 to 2002, John was Chief Administrative Officer, General Counsel, & Secretary of Fruit of the Loom, Ltd., where he managed all worldwide legal matters and led the company through a successful Chapter 11 proceeding leading to the sale of the company to Berkshire Hathaway. Prior to his role at Fruit of the Loom, Mr. Ray held various senior positions at Waste Management Inc and also practiced law at Mayer, Brown.
John J. Ray III serves as Chief Restructuring Officer, Litigation Trustee, and Plan Administrator of Chapter 11 Debtors with 43 years experience, including the private practice of law and service as General Counsel and Chief Administrative Officer of multiple public companies. Mr. Ray has extensive experience navigating complex Chapter 11 proceedings and post confirmation liquidations and litigation.
Mr. Ray currently serves as CEO and Trustee of the FTX Recovery Trust, subsequent to the emergence of FTX from Chapter 11. Mr. Ray was appointed CEO and CRO upon FTX’s Chapter 11 filing in November 2023 following the discovery of billions in misappropriated customer funds. Through his leadership, Mr. Ray steered FTX towards a confirmed plan of reorganization in 24 months that projects to pay customers in full with 9% interest and projected high end customer recoveries of 143%.
With a career spanning over four decades, Mr. Ray has played pivotal roles in numerous high-profile cases, including Nortel Networks where he served as Principal Officer leading to recoveries in full for US creditors, Enron where he served as post confirmation CEO and Chairman of the Board of Directors overseeing Enron’s $23 billion liquidation and the recovery of 200% of the plan's estimated recovery, Residential Funding/GMAC Mortgage, where he recovered $1.8 billion for creditors through the prosecution of warranty and indemnity claims, and Overseas Shipping Group, where he successfully reorganized the company, resulting in full repayment to unsecured creditors and a 1.5 billion rights offering to shareholders in the money.
His expertise extends to infrastructure development projects in South Africa, as well as board memberships and advisory roles for companies such as Burlington Industries, GT Technologies and Polaroid Corporation. From 1998 to 2002, John was Chief Administrative Officer, General Counsel, & Secretary of Fruit of the Loom, Ltd., where he managed all worldwide legal matters and led the company through a successful Chapter 11 proceeding leading to the sale of the company to Berkshire Hathaway. Prior to his role at Fruit of the Loom, Mr. Ray held various senior positions at Waste Management Inc and also practiced law at Mayer, Brown.
About The Harvey R. Miller AwardEach year Beard Group, Inc. presents the Harvey R. Miller Outstanding Achievement Award for Service to the Restructuring Industry to a deserving individual in the corporate restructuring community. Beard Group, Inc.’s editorial team selects the individual from a lengthy list of candidates known for reshaping the industry.
Mr. Miller was the first to receive the award in 2001. Each year, Beard Group’s editorial team seeks to honor a well-known industry leader with long ties to the restructuring community when presenting the award at the annual Distressed Investing Conference. Mr. Miller was a renowned bankruptcy attorney and partner at the firm of Weil, Gotshal, & Manges. Mr. Miller joined the firm in 1969. Mr. Miller is often credited with making the bankruptcy practice and was involved in major cases throughout his career, including, Texaco, WorldCom, Enron, Eastern Airlines, Continental Airlines and R. H. Macy. Mr. Miller taught at major institutions, including his alma mater, Columbia Law School and received many accolades during his distinguished career. Mr. Miller passed away in 2015. Beard Group, Inc. continues the tradition of honoring the legacy of Harvey Miller with the presentation of this award named in his honor. |
Previous Recipients of the Harvey R. Miller Award
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