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)
Cumulus Media to Exit Chapter 11
- Client News
- May 4, 2018
Paul, Weiss secured court approval for radio broadcasting company Cumulus Media Inc.’s financial reorganization plan in connection with its Chapter 11 bankruptcy. Under the confirmed plan, approved over creditor objections related to company valuation, the company’s debt will be trimmed by more than $1 billion, and term lenders will hold 83.5 percent of the reorganized company as well as interest in a first-lien exit facility. Unsecured creditors will receive the balance of the equity. The company filed for voluntary reorganization in November; it expects to emerge from bankruptcy by the end of the second quarter.
The Paul, Weiss team included, among others, bankruptcy partners Paul Basta and Jacob Adlerstein and counsel Claudia Tobler; litigation partners Susanna Buergel and Lewis Clayton and counsel Jonathan Hurwitz; tax partner David Sicular; corporate partners John Kennedy and Robert Zochowski and counsel Chaim Theil and Bruce Gruder; intellectual property partner Claudine Meredith-Goujon; employee benefits counsel Jason Ertel; real estate partner Mitchell Berg; personal representation partner Alan Halperin; and antitrust counsel Marta Kelly.