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)
Toys “R” Us Commences Chapter 11
- Client News
- September 18, 2017
Toy and baby products retail giant Toy “R” Us, Inc. and certain subsidiaries commenced Chapter 11 cases in U.S. Bankruptcy Court for the Eastern District of Virginia. Paul, Weiss is advising an ad hoc committee of noteholders holding approximately 70 percent of the prepetition secured notes issued by the holding company that owns Toys’ international business.
After a competitive financing process, our clients provided a priming, superpriority $375 million financing to be used to fund the company’s international business, among other purposes. The company received interim approval of the DIP financing on September 20 and the financing closed on September 22.
The Paul, Weiss team included, among others, bankruptcy partner Brian Hermann and counsel Sam Lovett and Diane Meyers; corporate counsel Bruce Gruder; tax partner David Sicular and counsel Todd Hatcher; and intellectual property partner Claudine Meredith-Goujon.