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)
Company/Debtor
Clients around the world call upon our team to resolve their most complex restructuring situations. We have vast experience advising companies across a diverse array of industries regarding in- and out-of-court restructuring, refinancing and recapitalization options and issues. The depth of our company-side experience has made Paul, Weiss the firm of choice for companies seeking strategic and practical guidance to navigate complex and transformative restructuring matters.
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Revlon's Chapter 11 Cases
Revlon, a leading global beauty company, and certain of its subsidiaries in their chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York.
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Party City's Chapter 11 Case
Party City, a global leader in the celebrations industry, and certain domestic subsidiaries in its prearranged chapter 11 proceedings, as well as the provision of $150 million of debtor-in-possession financing, in the U.S. Bankruptcy Court in the Southern District of Texas.
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Proterra Chapter 11 Cases
Proterra, a publicly traded developer and producer of commercial electric vehicle technology, including proprietary battery systems, electric transit buses, and turnkey charging solutions, in its chapter 11 cases in the District of Delaware.
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Diamond Sports Group's Chapter 11 Cases
Diamond Sports Group, the nation’s largest owner of regional sports networks, in its chapter 11 cases filed in the Bankruptcy Court for the Southern District of Texas. In connection with its filing, Diamond entered into a restructuring support agreement with the company’s creditors that would eliminate over $8 billion of its outstanding debt.
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Ryze Renewables Chapter 11 Cases and 363 Sale
Ryze Renewables, a Las Vegas-based developer of a biofuels refinery, in its chapter 11 cases in the Bankruptcy Court for the District of Delaware, including a court-supervised 363 asset sale process.
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Madison Square Boys & Girls Club's Chapter 11 Case
Madison Square Boys & Girls Club, a not-for-profit organization, in its chapter 11 case filed in the Southern District of New York to address claims arising under the New York Child Victims Act.
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Recapitalization of Checkers
Checkers Drive-In Restaurants, a chain of double drive-thru restaurants, in a recapitalization with its lenders which reduced its long-term funded debt from approximately $300 million to $75 million. Checkers also received an additional $25 million in new debt financing commitments to fund the company's store remodeling program and other growth initiatives.
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Salem Harbor Power Development LP Prearranged Chapter 11 Cases
Salem Harbor Power Development LP and certain of its affiliates, owner of a 674 MW gas fired combined cycle electric power generating facility located in Salem, Massachusetts, in their prearranged chapter 11 cases commenced on March 23, 2022 in the District of Delaware.
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Diamond Offshore Drilling's Chapter 11 Case
Diamond Offshore Drilling, a leading provider of offshore drilling services, and 14 of its U.S. and foreign subsidiaries, in their chapter 11 cases in the Southern District of Texas, which provided for the equitization of approximately $2.1 billion in senior unsecured note obligations and the provision of over $625 million of new capital.
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Chapter 11 Cases of The Collected Group
The Collected Group, an international fashion group headquartered in California which is recognized globally as a leading designer, distributor and retailer of the Joie, Equipment and Current/Elliot brands, and its debtor subsidiaries, in their chapter 11 cases in the District of Delaware.
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Unites States Counsel to Petra Diamonds
United States counsel to Petra Diamonds, an independent diamond mining group, in a restructuring of the company’s approximately $600 million in second lien notes through proceedings in the United Kingdom and the United States.
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Bumble Bee's Chapter 11 Case
Bumble Bee Foods, one of the world's largest branded shelf-stable seafood providers, and its affiliates, as lead U.S. counsel in the successful going-concern sale of its businesses for $928 million through coordinated chapter 11 cases and Canadian restructuring proceedings.
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McGraw Hill's Out-of-Court Recapitalization
McGraw Hill, a leading educational publisher, in a comprehensive out-of-court debt recapitalization that involved (a) the amendment of the terms and maturities of the existing term loans and revolving facility commitments and (b) an issuance of new secured notes. The new secured notes were issued for cash, exchanged for existing holding company loans or in exchange of existing unsecured notes, all on terms negotiated among the relevant parties.
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Out-of-Court Refinancing of CHC Group
CHC Group, one of the largest providers of helicopter services, in connection with a comprehensive out-of-court recapitalization transaction involving the reduction of up to $520 million in funded debt and over $100 million in new money and other liquidity enhancements.
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Revlon's Successful Out-of-Court Exchange Offer
Revlon, a leading global beauty company, in its subsidiary’s successful out-of-court exchange offer.
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Recapitalization of The IMAGINE Group
The IMAGINE Group, a leading provider of visual print communications and experiential marketing solutions, in its recapitalization transaction, which involved a $550 million deleveraging and a $100 million new money investment.
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Templar Energy's Prepackaged Chapter 11 Case
Templar Energy, an independent upstream oil and gas company, in its prepackaged chapter 11 cases in the District of Delaware, pursuant to which the company sold substantially all of its assets under section 363 of the Bankruptcy Code.
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David's Bridal Out-of-Court Restructuring
David’s Bridal, the nation’s leading bridal and special occasion retailer, in an out-of-court recapitalization transaction which provided for $55 million of new capital from existing lenders and the exchange of more than $275 million in existing term loan debt into new preferred and common equity securities.
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Foresight Energy Restructurings
Foresight Energy, a leading producer of thermal coal based in the Illinois basin, in (a) its prearranged chapter 11 case that reduced over $1 billion of its funded indebtedness and (b) an out-of-court restructuring of approximately $2 billion of secured and unsecured debt and a follow-on refinancing of more than $1.3 billion of outstanding indebtedness.
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Pioneer Energy Services Corp.'s Prepackaged Chapter 11
Pioneer Energy Services Corp., a land-based drilling and production services provider operating in the U.S. and Colombia, in its prepackaged chapter 11 cases in the Southern District of Texas. The company’s prepackaged plan reduced Pioneer’s funded debt and injected approximately $120 million of new capital into the company, enabling the company’s emergence from chapter 11 as a going concern and preserving over 1,000 jobs.
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Jack Cooper’s Chapter 11 Cases
Jack Cooper Ventures, a leading provider of finished vehicle logistics in North America for new and used vehicles and diversified logistical services in select non-automotive markets, and 18 of its subsidiaries and affiliates, in their chapter 11 cases in the Northern District of Georgia.
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Alorica's Out-of-Court Refinancing
Alorica, a global leader in customer experience solutions, in a $750 million out-of-court refinancing involving the issuance of preferred equity and debt.
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Cumulus Media’s Chapter 11 Cases
Cumulus Media, the nation’s second largest radio company with 446 stations spread across 90 markets, and certain of its affiliates in their chapter 11 cases, including a multi-day chapter 11 plan confirmation trial addressing, among other things, various valuation issues.
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Sears’ Chapter 11 Cases
The Restructuring Sub-Committee of the Board of Directors of Sears Holdings Corporation, a leading retailer in the appliance, tool, lawn and garden, fitness equipment, automotive repair and maintenance retail sectors, in the company’s chapter 11 cases, including the investigation of potential claims and causes of action in connection with related party transactions and the court-approved $5.2 billion sale of assets.
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CGG’s Prenegotiated Cross-border Restructuring
Certain subsidiaries of CGG S.A., a Paris-based global geophysical and geoscience services company serving customers principally in the oil and gas exploration and production industry, in their prenegotiated chapter 11 cases by which the company and its subsidiaries equitized approximately $2 billion of unsecured debt through concurrent restructuring proceedings in France and the United States. Brian S. Hermann was named an American Lawyer 2018 “Dealmaker of the Year” for his work representing CGG S.A. in its chapter 11 cases.
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Performance Sports Group’s Cross-border Bankruptcy Cases
Performance Sports Group, a leading developer and manufacturer of sports equipment and apparel with products marketed under the BAUER, MISSION, MAVERIK and EASTON brand names, among others, as U.S. counsel in its complex U.S. and Canadian bankruptcy cases, including the going concern sale of its business to leading Canadian private investment firm. This matter was recognized by The M&A Advisor as the “Restructuring of the Year ($500MM-$1B)” and by The Turnaround Management Association as the "Transaction of the Year: Large Company."
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Expro Holdings’ Prepackaged Chapter 11 Case
Expro Holdings, a leading provider of well flow management services to the oil and gas industry, in its prepackaged chapter 11 case in the Bankruptcy Court for the Southern District of Texas. The company emerged from chapter 11 in a mere 49 days having (a) eliminated its entire $1.4 billion of funded bank debt and $80 million in annual interest payments through a debt-to-equity swap, and (b) raised $200 million of equity investment capital from its new shareholders through a backstopped rights offering.
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Hexion’s Chapter 11 Cases
Hexion, the world’s leading producer of thermosetting resins, and a leading producer of adhesive and structural resins and coatings, as special financing and securities counsel in the company’s chapter 11 cases. The company’s plan provided for the restructuring of over $3.8 billion of debt, with the proceeds of $1.6 billion in new long-term debt and a $300 million rights offering for new equity, in each case, backstopped by certain of the company’s existing noteholders.
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Preferred Sands’ Out-of-Court Restructurings
Preferred Sands, one of the leading producers of sand and resin coated proppants for North America’s oil and gas industry, in (a) a comprehensive out-of-court restructuring that involved the equitization or renegotiation of more than $1.4 billion of funded indebtedness, the issuance of new debt and the carve-out of certain of its in-basin production assets into a new entity, Signal Peak Silica, LLC., and (b) certain prior out-of-court restructuring transactions. Paul, Weiss was recognized by The Financial Times for our “Commended” work in “Enabling Clients’ Business.”
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Bon-Ton Stores’ Chapter 11 Cases
The Bon-Ton Stores, a national department store retailer, in its chapter 11 cases in Delaware, including the sale of substantially all of its assets under section 363 of the Bankruptcy Code.
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Walter Energy’s Chapter 11 Cases
Walter Energy, a leading producer and exporter of metallurgical coal for the global steel industry, in its U.S.-Canadian cross-border restructuring, including all aspects of its chapter 11 case, resulting in the discharge of over $4 billion of secured and unsecured debt and the going concern sale of the company’s core mining operations to its senior lenders. This matter was recognized by The M&A Advisor as the “Distressed M&A Deal of the Year (Over $1B)” and “Section 363 Sale of the Year (Over $1B).”
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Animal Supply’s Out-of-Court Restructuring
Animal Supply Company, a national leader in pet food and supplies distribution, in an out-of-court restructuring transaction providing for the equitization of a significant portion of debt and the infusion of new capital.
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Triangle Petroleum’s Prepackaged Chapter 11 Case
Triangle Petroleum, an independent energy holding company, in its prepackaged chapter 11 case in Delaware.
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Noranda’s Chapter 11 Cases
Noranda Aluminum, a leading U.S. producer of primary aluminum and aluminum foil products, and its wholly owned subsidiaries in all aspects of their chapter 11 cases, including (a) the sales of Noranda’s upstream and downstream businesses, (b) the rejection of a burdensome supply contract over the objection of a counterparty who was seeking to assume the same contract in its own chapter 11 case, and (c) a global settlement with various creditor groups.
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EnQuest’s Cross-border Restructuring
U.S. counsel to EnQuest, the largest U.K. independent oil producer in the U.K. North Sea, in connection with a restructuring of the company’s approximately $1.8 billion of debt obligations through proceedings in the United Kingdom and the United States. This matter was recognized by The American Lawyer as the “Global Finance Deal of the Year: Insolvency and Restructuring (U.K.).”
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AbitibiBowater’s Cross-border Restructuring
AbitibiBowater (now Resolute Forest Products), North America's largest forest products company, and its subsidiaries and affiliates, as lead U.S. counsel in their complex cross-border cases in the U.S. and Canada involving the restructuring of more than $8 billion of prepetition indebtedness and raising $1.5 billion in exit financing.
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School Specialty’s Chapter 11 Case
School Specialty, one of the largest suppliers of supplemental educational products, equipment and standard based curriculum, in all aspects of its chapter 11 case.
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Houghton Mifflin Harcourt’s Prepackaged Chapter 11 Case
Houghton Mifflin Harcourt, a leading textbook publisher, in the negotiation, filing and consummation of a prepackaged chapter 11 reorganization plan that eliminated approximately $3.1 billion in debt and $250 million in annual interest costs. The company emerged from chapter 11 in a mere 32 days.
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Samsonite Corporation’s Restructuring
Samsonite Corporation, a manufacturer of luggage and travel bags, in its worldwide out-of-court restructuring. In connection with the representation, we also represented Samsonite Company Stores in its successful prepackaged chapter 11 case, which was confirmed by the Delaware bankruptcy court in approximately two months.
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Buffets Restaurant Holdings' Prearranged Chapter 11 Cases
Buffets Restaurant Holdings and its subsidiaries and affiliates, one of the largest national chains in the restaurant industry family dining segment, in negotiating and consummating their prearranged chapter 11 cases that resulted in the restructuring of $250 million of secured and unsecured debt.
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Quiznos's Out-of-Court Restructuring
Quiznos, a quick serve restaurant franchisor, in its out-of-court debt restructuring of over $1 billion of secured debt and new capital raise which required one hundred percent first and second lien lender consent.
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Fontainebleau Miami Beach Hotel’s Out-of-Court Restructuring
The joint venture that owns the iconic Fontainebleau Miami Beach Hotel in its out-of-court restructuring of over $840 million in debt following a year of negotiations among senior and mezzanine lenders, equity holders and over 150 contractors that worked on the hotel’s elaborate renovation. Existing investors in the joint venture, which included the real estate arm of Dubai World, invested $100 million of new equity capital to fund the restructuring. Paul, Weiss was recognized by The Financial Times for our “Stand Out” work on this matter.
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Diamond Sports Group
Diamond Sports Group, the nation’s largest owner of regional sports networks, in its chapter 11 cases filed in the Bankruptcy Court for the Southern District of Texas. In connection with its filing, Diamond entered into a restructuring support agreement with the company’s creditors that would eliminate over $8 billion of its outstanding debt.
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Revlon
Revlon, a leading global beauty company, and certain of its subsidiaries in their chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York.
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Party City
Party City, a global leader in the celebrations industry, and certain domestic subsidiaries in its prearranged chapter 11 proceedings, as well as the provision of $150 million of debtor-in-possession financing, in the U.S. Bankruptcy Court in the Southern District of Texas.
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Proterra
Proterra, a publicly traded developer and producer of commercial electric vehicle technology, including proprietary battery systems, electric transit buses, and turnkey charging solutions, in its chapter 11 cases in the District of Delaware.
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Digicel Group
An ad hoc group of secured and unsecured creditors of Digicel Group, the leading provider of mobile phone networks and home entertainment services in 25 markets across the Caribbean, Central America and Asia Pacific, in its restructuring of over $5.4 billion of debt.
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National CineMedia
National CineMedia, the largest movie theater advertising business in North America, in its chapter 11 cases filed in the U.S. District Court in the Southern District of Texas.
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Rite Aid Corporation
An ad hoc group of second lien noteholders of Rite Aid Corporation, a full-service pharmacy company providing a broad range of services, including retail pharmacy, PBM, and mail order, across 17 states, in connection with its restructuring of $3.4 billion of total funded debt, including $1.05 billion held by the ad hoc group.
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Western Global Airlines
An ad hoc group of DIP lenders and unsecured noteholders in the chapter 11 restructuring of Western Global Airlines, an independent provider of commercial, long-haul air cargo transportation services.
