(Bankr. S.D. N.Y.) Counsel to the official committee of unsecured creditors of Windstream Holdings, Inc., and its affiliated debtors in their chapter 11 case. Windstream is a leading provider of advanced network communications, technology, broadband, security, entertainment, and core-transport solutions to both consumer and business customers across the United States. Windstream had approximately $5.6 billion in prepetition obligations at the time of its filing.
(Bankr. D. Del.) Counsel to the official committee of unsecured creditors of Cloud Peak Energy, one of the largest coal producers and suppliers in the U.S., and certain of its subsidiaries, in its filing for chapter 11 bankruptcy protection.
(Bankr. S.D. Tex.) Counsel to the official committee of unsecured creditors of Westmoreland Coal Company and affiliated debtors. Westmoreland is the sixth largest coal-mining enterprise in North America. After conducting an exhaustive investigation to reveal unencumbered assets and following weeks of negotiations with the company and the company’s secured lenders, the Committee supported independent plan processes for two distinct debtor groups that kept the company operating, preserved jobs and pensions, and provided value for unsecured creditors.
Counsel to the ad hoc group of constitutional bondholders of the Commonwealth of Puerto Rico in connection with the first restructuring proceeding under the newly enacted Puerto Rico Oversight, Management, and Economic Stability Act. Working in coordination with other holders of constitutional debt, the ad hoc group has engaged in targeted litigation and efforts to negotiate a plan for the Commonwealth’s restructuring, while simultaneously defending attempts to invalidate more than $6 billion of the Commonwealth’s $18 billion of outstanding constitutional debt.
Counsel to various creditors in the ongoing chapter 11 bankruptcy cases of Sears and its affiliated debtors (collectively, “Sears”). At the time of its chapter 11 filing, Sears was operating over 680 retail stores in 49 states, as well as in Guam, Puerto Rico, and the U.S. Virgin Islands under the Sears® and Kmart® brands. Sears entered chapter 11 in the Southern District of New York after struggling with liquidity issues that limited its ability to invest in and grow its business. We also acted as counsel to non-debtor affiliates of Sears Holding Company that held 130 prime real estate properties that served as collateral for approximately $600 million in secured loans. These properties were transferred to Transform Holdco LLC as the successful bidder on the Sears assets in a court-approved sale of substantially all of the assets of Sears Holding Company.
(Bankr. D. Del.) Counsel to the ad hoc group of secured and unsecured noteholders in connection with the chapter 11 prepackaged plan of Southeastern Grocers LLC – one of the largest conventional supermarkets in the United States operating under the Winn-Dixie, Bi-Lo, Harveys, and Fresco y Más banners – successfully rationalizing its 704-store footprint and restructuring more than $1.5 billion of debt and other obligations, paying unsecured trade creditors in full.
(Bankr. D. Del.) Counsel to the official committee of unsecured creditors of aerospace manufacturer, the NORDAM Group, Inc. and affiliated debtors. At the time of filing, NORDAM had approximately $286 million in funded debt and was engaged in a five-year dispute with Pratt & Whitney Canada Corporation over a long-term agreement for the manufacturing of nacelle systems used in Gulfstream Aerospace Corp. aircraft. The Committee supported NORDAM’s decision to sell its interest in the program to Gulfstream and thereafter negotiated a plan of reorganization that provided for an equity investment and payment of all unsecured claims in full with interest.
Counsel to the ad hoc group of senior secured noteholders for both Sanchez Energy Corporation and EP Energy.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of supermarket retailer Tops Holding II Corporation and affiliates in their chapter 11 cases. The company filed for chapter 11 in February 2018 with over $748 million in funded indebtedness and substantial pension liabilities.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors for international telecom company Avaya Inc. and its affiliated debtors. Avaya had more than $6 billion of secured debt at the time of its filing and was saddled with significant pension underfunding liabilities for its domestic and certain foreign affiliates.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors of 21st Century Oncology Holdings, Inc. and its subsidiaries and affiliates, the largest global provider of integrated cancer care services. At the time of its filing, 21st Century Oncology had more than $1.1 billion of prepetition funded debt that it was seeking to restructure through its chapter 11 cases.
(Bankr. D. Del.) Counsel to Real Industry, Inc., Real Alloy Recycling, Inc., and their affiliated debtors in their chapter 11 cases. Real Industry is a holding company with approximately $1 billion in tax attributes. Real Alloy, the subsidiary of Real Industry, is a large-scale recycler of aluminum with operations throughout the United States, Canada, Mexico, and Europe. The debtors collectively filed for chapter 11 to restructure their $401 million in funded debt obligations and approximately $75 million in other obligations. Real Industry’s chapter 11 plan, which preserved its tax attributes, went effective in May 2018. Real Alloy closed a sale of all its assets and operations in May 2018, preserving 2,000 jobs and critical business relationships.
(Bankr. D. Del.) Counsel to Maxus Energy Corporation and four affiliated debtors in their chapter 11 cases, which addressed over $12 billion in claims, predominantly in connection with environmental liability relating to the country’s largest superfund site—the Passaic River and related bodies of water. The Maxus chapter 11 cases concluded in July 2017 following confirmation of an innovative chapter 11 plan supported by over 99% of creditors.
(Bankr. E.D. Mo.) Counsel to the official committee of unsecured creditors of Peabody Energy, the world’s largest privately owned coal producer, and 153 of its subsidiaries, which collectively held $10.1 billion in prepetition debt. In the bankruptcy court, our team succeeded in securing material improvements to unsecured-creditor recoveries in the confirmed plan of reorganization. We successfully defended the plan, which provided substantial recoveries to both secured and unsecured creditors, in the district court against challenges by the hold-out creditors and again in the Eighth Circuit.
(Bankr. D.V.I.) Counsel to HOVENSA LLC, once owner of one of the ten largest oil refineries in the world, in its chapter 11 case. At the time of its bankruptcy filing, HOVENSA had approximately $2 billion of prepetition indebtedness, exclusive of significant legacy liabilities primarily in the form of environmental obligations, pension obligations, and retiree benefits.
(Bankr. D. Del.) Counsel to the official committee of TCEH unsecured creditors in the chapter 11 cases of Texas power company Energy Future Holdings Corp. and its affiliates, which filed for bankruptcy in April 2014. This is the 10th largest bankruptcy in U.S. history with the debtors holding approximately $40 billion in debt.
(Bankr. S.D.N.Y.) Counsel to Residential Capital and its affiliates, comprising one of the largest residential real estate finance companies at the time of its chapter 11 filing, with assets and liabilities each in excess of $15 billion. The debtors’ business was comprised primarily of loan servicing and origination. Residential Capital was the largest bankruptcy filing of 2012 and the case represents the first time ever that a mortgage servicer was able to successfully continue servicing and originating mortgages in bankruptcy and be sold as a going concern.
(Bankr. S.D.N.Y.) Counsel to the official committee of unsecured creditors in the chapter 11 case of Ambac Financial Group. This was one of the largest financial services bankruptcies ever, and it is believed to be the first-ever partial rehabilitation in the United States.
(Bankr. D. Del.) Counsel to the official committee of unsecured creditors for the Los Angeles Dodgers in its chapter 11 bankruptcy. A plan of reorganization was confirmed by the Bankruptcy Court on April 13, 2012, pursuant to which the baseball team was sold for a record $2 billion. Unsecured creditors received a 100% cash recovery under the plan, in what is the largest and most successful restructuring of a sports franchise in U.S. history.
Counsel to two of the largest banks in Iceland, on issues related to securities matters, restructuring of assets, cross-border conflicts of law, and litigation matters as well as providing advice related to the global settlement of claims. In addition, MoFo worked with the Icelandic banks to harmonize their winding-up procedures with those of the United States, the European Union, and Canada. As part of this process, we were instrumental in rewriting Iceland’s insolvency law.