EXPERIENCE

• 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
• 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
• Azorra Aviation, a commercial aircraft leasing company, in its acquisition and recapitalization of certain aircraft owning silos of Nordic Aviation Capital pursuant to a prearranged chapter 11 plan process
• An ad hoc committee of noteholders of Mallinckrodt, a leading global biopharmaceutical company in Mallinckrodt’s chapter 11 cases
• The Collegiate Churches of New York, the oldest operating church in the United States, in connection with its investment in a major commercial real estate development project in New York City
• Lion Capital, as secured lender and equity sponsor, in the chapter 11 cases of Alex and Ani, a customizable jewelry company. The restructuring plan allowed the company to reorganize its balance sheet, optimize its retail lease portfolio, resolve litigation involving the company’s founder, and convert the company’s $127 million of prepetition secured debt into 100% of the reorganized company’s equity
• An ad hoc group of prepetition and postpetition lenders in the chapter 11 cases of Country Fresh and its affiliates, a provider of fresh-cut fruit, vegetable and snack foods, involving approximately $132 million in secured debt
• 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
• 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
• An ad hoc group of creditors of California Resources Corporation, an independent, publicly traded oil and natural gas exploration and production company with the largest oil and natural gas production operations in California, in its chapter 11 cases. The company’s plan provided for the restructuring of over $5.8 billion of debt and preferred equity interests
• An ad hoc group of first lien lenders in (a) the chapter 11 restructuring of Windstream, a leading provider of advanced network communications and technology solutions for businesses across the U.S., with over $5 billion in funded debt obligations, and (b) the recharacterization litigation against, and $1.2 billion settlement with, Uniti, the REIT that owns most of Windstream’s network. The transaction provided for the equitization of a substantial portion of Windstream’s $3 billion in outstanding first lien indebtedness, as well as access to approximately $2 billion in new capital, and a new long term lease structure between Windstream and Uniti
• An ad hoc group of unsecured noteholders in the chapter 11 cases of Dean Foods, the largest processor and direct-to-store distributor of fresh fluid milk and other dairy products in the U.S., involving approximately $1.1 billion in secured and unsecured debt
• Silver Point Capital, as postpetition and senior prepetition lender, in the restructuring of TridentUSA and its affiliates, the leading national provider of bedside diagnostic and related health care services, including its chapter 11 cases