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)
Creditor
Paul, Weiss has a market leading practice representing key creditor constituencies (official and ad hoc groups, agents, trustees, strategic creditors, critical contract counterparties, etc.) in complex, high profile in- and out-of-court restructuring, debt refinancing and recapitalization matters. We represent a broad array of creditors and understand the needs and concerns of different creditor constituencies (operational, financial, secured, unsecured, etc.). The diversity of our creditor matters and clients distinguishes our practice and enhances our ability to represent—and secure successful outcomes for—official and unofficial groups comprised of different types of creditors.
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American Tire Distributor’s Prearranged Chapter 11 Case
An ad hoc group of term loan lenders in connection with the prearranged chapter 11 restructuring of American Tire Distributors, the largest replacement tire distributor in North America. The company’s plan provided for the restructuring of over $2 billion of debt, including the extension and modification of its term loan facility and equitization of its senior subordinated notes.
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FULLBEAUTY’s Prepackaged Chapter 11 Case
An ad hoc group of prepetition second lien lenders in the chapter 11 cases of FULLBEAUTY Brands Holdings Corp. and certain affiliates, which restructured more than $1.2 billion of prepetition debt through a prepackaged plan of reorganization that was approved by the United States Bankruptcy Court for the Southern District of New York less than 24 hours after the company filed for chapter 11 protection.
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Out-of-Court Restructurings of Brazos Valley Longhorn (f/k/a WildHorse Resource Development)
An ad hoc group of noteholders of Brazos Valley Longhorn (f/k/a WildHorse Resource Development), a subsidiary of Chesapeake Energy Corporation in the out-of-court restructuring of over $600 million debt. The restructuring took place via a tender offer and consent solicitation in which our clients received par value for their notes.
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Pacific Drilling’s Chapter 11 Cases
An ad hoc committee of debtholders in the chapter 11 cases of Pacific Drilling S.A., a leading international offshore drilling contractor with approximately $3 billion in indebtedness, and its affiliates, including in a plan-related mediation ordered by the Bankruptcy Court. This matter was recognized by The M&A Advisor as the 2019 “Energy Deal of the Year.”
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Gibson Brand’s Prenegotiated Chapter 11 Case
An ad hoc committee of senior secured noteholders of Gibson Brands, an iconic American manufacturer of guitars, other musical instruments and professional audio equipment, in the company’s prenegotiated chapter 11 case, including the negotiation of a prepetition restructuring support agreement and the provision of $135 million of debtor-in-possession financing. This matter was recognized by The Turnaround Management Association as the “Mid-Size Company Transaction of the Year.”
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Toys “R” Us’s Restructuring
An ad hoc group of holders of prepetition secured notes and DIP notes issued by the holding company that owned Toys “R” Us’s international business in (a) the restructuring of Toys “R” Us, Inc. and certain of its subsidiaries through concurrent proceedings in the U.S. and multiple foreign jurisdictions and (b) the provision of $455 million of debtor-in-possession financing, the proceeds of which were used to fund the company’s international businesses.
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Halcón Resources' Prepackaged Chapter 11 Case
An ad hoc group of unsecured noteholders in the prepackaged chapter 11 cases of independent energy company Battalion Oil (fka Halcón Resources Corporation), including in connection with providing debtor-in-possession financing
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Paragon Offshore’s Restructuring
An ad hoc group of senior unsecured creditors of Paragon Offshore, a U.K. offshore drilling company servicing oil and gas companies with operations in Brazil, Mexico, the North Sea, the Middle East, and elsewhere, in a restructuring of over $2 billion of secured and unsecured debt obligations. Paul, Weiss was also counsel to the Official Committee of Unsecured Creditors in the company’s chapter 11 cases.
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TCEH’s Chapter 11 Case
The ad hoc committee of certain first lien senior secured creditors of Texas Competitive Electric Holdings Company, an electric utility provider, in the company’s chapter 11 case involving approximately $32 billion of secured and unsecured debt.
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Eco-Bat Technologies’ Restructuring
An ad hoc committee of PIK loan lenders to EB Holdings II, the parent company of Eco-Bat Technologies Limited, the world’s largest producer of lead and lead alloys in the restructuring of approximately $2.5 billion in funded debt obligations through the company’s prepackaged chapter 11 case.
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Mood Media’s Cross-Border Restructuring
U.S. counsel to certain noteholders holding a majority of notes issued by Mood Media, a leading global provider of in-store media and marketing services with $650 million in funded debt obligations, in a comprehensive debt and equity restructuring through proceedings in Canada and the United States.
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Tops Holdings’ Chapter 11 Cases
An ad hoc committee of senior secured noteholders of Tops Holding LLC and Tops Markets II Corporation, a leading upstate New York-based supermarket chain with approximately 170 locations, in Tops’ chapter 11 cases.
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Sabine Oil & Gas’s Chapter 11 Case
The second lien agent in the chapter 11 case of Sabine Oil & Gas Corporation, an oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties onshore in the United States.
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David’s Bridal’s Prepackaged Chapter 11 Case
Certain funds advised or otherwise managed by Oaktree Capital Management in their capacity as holders of David’s Bridal’s term loans and unsecured notes in connection with the negotiations, implementation and consummation of a prepackaged chapter 11 plan to right size the company’s balance sheet and rationalize operations. Oaktree was the company’s single largest creditor.
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Tidewater’s Prepackaged Chapter 11 Case
An unofficial committee of noteholders of Tidewater, a leading provider of offshore service vessels in the global energy industry, in connection with a restructuring of the company’s approximately $2 billion of debt pursuant to a prepackaged chapter 11 plan.
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Sequa Corporation’s Out-Of-Court Restructuring
An ad hoc committee of certain unsecured noteholders of Sequa Corporation, an industrial company with operations in the aerospace, energy and metal coatings industries, in connection with the company’s out-of-court recapitalization and exchange offer transactions.
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Quicksilver Resources’ Chapter 11 Case
The Official Committee of Unsecured Creditors of Quicksilver Resources, a Texas-based oil and gas exploration and production company with over $2 billion in indebtedness. This matter was recognized by The M&A Advisor as the “Restructuring Deal of the Year ($1B-$5B).”
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Exide Technologies’ Recapitalization
An ad hoc group of holders of securities issued by Exide Technologies, a manufacturer of automotive and industrial batteries, in a credit bid asset sale of the company’s international operations in more than 80 countries as part of the company’s chapter 11 liquidation. The chapter 11 plan de-levered over $700 million of secured debt through the sale of the company’s U.S. and international businesses and resolved complex and contentious disputes with the company’s unsecured creditors, the DOJ, EPA and numerous state and local environmental agencies through a global settlement.
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Chassix Holdings’ Prearranged Chapter 11 Case
An informal committee of certain holders of secured and unsecured notes of Chassix and Chassix Holdings (now known as Aludyne), a metal parts supplier in the automotive industry, as well as certain lenders under Chassix’s postpetition and exit term loan credit facility, in Chassix’s restructuring through a prearranged chapter 11 case. This matter was recognized by The Turnaround Management Association as the “Turnaround of the Year: Mega Company” and by The M&A Advisor as the “Chapter 11 Reorganization of the Year (Over $500MM).”
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Charter Communications’ Chapter 11 Case
The unofficial committee of bondholders of Charter Communications, one of the largest cable service providers, in Charter’s unprecedented “reinstatement” plan under chapter 11, permitting the fourth largest cable television operator to emerge from chapter 11 with $8 billion less debt on its balance sheet and $2.5 billion of capital newly invested by our clients. Paul, Weiss was recognized by The Financial Times for our “Stand Out” work on this matter. The Deal Magazine recognized the matter as a “Deal of the Year.”
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GMAC’s Debt-Exchange Offer
The ad hoc committee of bondholders of GMAC, one of the world’s largest financial services companies, in a $28.5 billion debt-exchange offer, one of the largest exchange offers ever consummated.
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CIT Group’s Chapter 11 Case
Bondholders of CIT Group, a leading financing and bank holding company, in the first successful bankruptcy of a bank holding company and the largest prepackaged bankruptcy ever completed, including negotiating $7.5 billion of emergency financing and a prepackaged reorganization plan to restructure approximately $33 billion of debt. Paul, Weiss was recognized by The Financial Times for our “Highly Commended” work on this matter. The Deal Magazine recognized the matter as a “Deal of the Year.”
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Mallinckrodt
An ad hoc committee of noteholders of Mallinckrodt, a leading global biopharmaceutical company, in (a) Mallinckrodt’s chapter 11 cases and (b) a prior out-of-court exchange of $495 million of senior unsecured debt for new first lien senior secured notes, on a par-for-par basis.
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Brookfield
Brookfield in a restructuring of its portfolio company, Altera Infrastructure, a leading international midstream services provider to the oil and gas industry, through prearranged chapter 11 cases in the Southern District of Texas. Brookfield provided a $70 million DIP loan and participated in an approximately $95 million equity rights offering. The company’s plan provided for the restructuring of over $1 billion in liabilities.
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Endo Pharmaceuticals
An ad hoc group of first lien, second lien, and unsecured lenders in the chapter 11 restructuring of Endo Pharmaceuticals, a specialty pharmaceutical company. The group comprised approximately of $3.2 billion, nearly forty percent, of the company’s funded debt.
