A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
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School Specialty Enters Into Asset Purchase Agreement With Bayside Capital Affiliate
- Client News
- January 28, 2013
Paul, Weiss client School Specialty, Inc. (School Specialty) announced that it entered into an asset purchase agreement with an affiliate of Bayside Capital, Inc., under which School Specialty proposes to sell its assets as a going concern through a court-supervised sale process. To facilitate the transaction, School Specialty and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
In connection with the filing, School Specialty has secured new financing from its existing asset-based lenders and $50 million in additional capital in the form of debtor-in-possession financing from an affiliate of Bayside Capital.
The Paul, Weiss team included, among others, bankruptcy partner Elizabeth McColm; corporate partners John Kennedy and Tarun M. Stewart; employee benefits partner Lawrence Witdorchic; environmental counsel William O'Brien; litigation partner Maria Vullo; real estate partner Salvatore Gogliormella; and tax partner Jeffrey Samuels.