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)
Western Global Airlines Emerges From Chapter 11
- Client News
- December 4, 2023
Paul, Weiss represented an ad hoc group of debtor-in-possession lenders and certain unsecured senior noteholders in the successful restructuring of Western Global Airlines, which emerged from its amended chapter 11 plan. Under the plan, Western Global materially reduced its debt by more than $460 million and received an infusion of new capital while preserving its workforce and longtime vendor and customer relationships.
Florida-based cargo airline Western Global and 18 affiliates filed chapter 11 petitions in Delaware bankruptcy court in August, reporting over $561 million in funded liabilities. The U.S. Bankruptcy Court for the District of Delaware approved the reorganization plan on November 21 after the company and the trustee of its employee stock ownership plan (ESOP) resolved a final dispute over the future of the ESOP, agreeing to wind down the stock plan and withdraw $400 million in dueling claims. The objection by the ESOP trustee was the final hurdle to securing confirmation.
The Paul, Weiss team includes restructuring partners Alice Eaton and Sean Mitchell and counsel Douglas Keeton; corporate partners David Huntington, Samuel Welt and Sung Pak and counsel Adam Longenbach and David Sobel; and executive compensation partners Lawrence Witdorchic and Rebecca Coccaro.