A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
Arch Coal Completes Restructuring
- Client News
- October 14, 2016
Arch Coal, Inc., a leading producer of metallurgical and thermal coal, successfully completed its financial restructuring and emerged from chapter 11 as a publicly traded company with more than $300 million of cash on its balance sheet and just $363 million in debt, less than one-tenth of its total prepetition debt. Paul, Weiss represented an ad hoc group of Arch Coal's prepetition first lien lenders in connection with the restructuring and the provision of $275 million of debtor-in-possession financing pursuant to a prepetition restructuring support agreement. As a result of the restructuring, the ad hoc group received substantial cash payments, $326.5 million in principal amount of new first lien debt, and 94 percent of Arch Coal's common stock in exchange for $1.9 billion of secured prepetition loans.
The Paul, Weiss team included bankruptcy partners Brian Hermann, Stephen Shimshak and Jacob Adlerstein; corporate partners Gregory Ezring, Brian Kim, Jeffrey Marell and Brian Janson; litigation partners Aidan Synnott, Andrew Ehrlich and Gregory Laufer; tax partners David Mayo; and employee benefits partner Robert Fleder.