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MoFo Secures Plan Confirmation for Aleon Metals in Chapter 11

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April 8, 2026 – MoFo successfully advised Aleon Metals, LLC and its affiliated debtors in connection with the successful...

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April 8, 2026 – MoFo successfully advised Aleon Metals, LLC and its affiliated debtors in connection with the successful confirmation of their Chapter 11 plan by the U.S. Bankruptcy Court for the Southern District of Texas.The confirmed plan, which was supported by overwhelming majorities of Aleon’s creditors, including its DIP lenders and creditors’ committee, establishes a trust to pursue retained causes of action and administer distributions. Aleon expects to conclude its Chapter 11 cases after the plan becomes effective.Prior to confirmation, Aleon completed a sale of its operating assets to its DIP lenders for a $187.5 million DIP facility credit bid, plus the assumption of certain liabilities and additional cash consideration.Aleon filed for Chapter 11 in August 2025 to facilitate a sale of its petroleum catalyst and battery recycling operations in Freeport, Texas.The MoFo team was led by restructuring partner Jennifer Marines and included partner Benjamin Butterfield, of counsel Andrew Kissner, and associates Joseph Murphy, Ilayna Guevrekian, and Helen Yan, among others.

MoFo Secures Plan Confirmation for Aleon Metals in Chapter 11

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Jennifer Marines serves as global vice chair of Morrison Foerster, Head of the firm’s global Business Restructuring + Insolvency Group, a member of the Woman’s Strategy Committee, and a member of the Firm’s Finance and Benefits Committee. She has extensive experience in representing chapter 11 debtors, creditors, investors, and other parties in interest in all aspects of complex corporate restructurings, including chapter 11 cases, out-of-court restructurings, and distressed acquisitions.Jennifer has built a highly successful and peer-recognized practice in the restructuring and work-outs space, routinely representing companies and their boards in navigating complex distressed situations. Jennifer also has extensive experience advising official committees of creditors, negotiating and structuring financings and other commercial transactions, and representing clients seeking to purchase businesses and related assets out of chapter 11 proceedings. Jennifer is recognized by Chambers USA and The Legal 500 US in the area of corporate restructuring. She has recently been recognized as one of “Top Women in Dealmaking” by The Deal and a “Top Woman Dealmaker” by Global M&A Network. She has also been named an “Outstanding Young Restructuring Lawyer” for 2016–2020 by Turnarounds & Workouts and a “Bankruptcy Rising Star” for 2016 and 2017 by Law360. The American Bankruptcy Institute also honored Jennifer in 2018 as one of their “40 Under 40,” a list recognizing emerging leaders in insolvency practice.

Jennifer Marines

Vice Chair, Head of Business Restructuring + Insolvency

Ben Butterfield is a partner in the Business Restructuring + Insolvency Group in the New York office of Morrison Foerster.Ben has represented debtors, secured creditors, unsecured creditors, official creditors’ committees, and directors and officers in complex restructuring transactions, including both out-of-court financial restructurings and chapter 11 proceedings. Ben has also represented clients in connection with international insolvency-related matters, including litigation-oriented matters as well as transactional work. He is also a member of our global Sustainability + Corporate Responsibility steering committee.Prior to joining Morrison Foerster, Ben was an associate in the New York office of another large law firm. He earned his J.D. from the New York University School of Law.Ben is admitted to practice in New York.

Benjamin Butterfield

Partner

Andrew’s primary practice is advising clients with respect to novel and complex insolvency issues, with a particular focus on cross-border and governmental restructurings. He has represented debtors, ad hoc groups, official committees, and individual investors in large chapter 11 and chapter 15 filings, including matters involving digital assets and digital asset companies, as well as disputes and litigation arising from M&A, venture capital and financing transactions in the blockchain and digital asset sector. He is also currently a member of the International Insolvency Institute’s NextGen Leadership Program.Andrew also has an active pro bono practice, including advising numerous tenants in the chapter 11 bankruptcies of their landlords, and has represented ICE detainees in connection with asylum proceedings. He is recognized for his dedication to pro bono and recently received the New York State Bar Association President’s Pro Bono Service Award for the First Judicial District, as well as Morrison Foerster’s Kathi Pugh Pro Bono Service Award.Andrew graduated magna cum laude from Brooklyn Law School, where he served as Articles Editor on the Brooklyn Law Review. As a law student, Andrew worked as a judicial intern to the Honorable Jane Restani, Senior Judge for the United States Court of International Trade.Andrew received an LL.M. in International and European Business Law at the Universidad Pontificia de Comillas in Madrid and graduated magna cum laude from the University at Albany, earning a B.A. in English and Spanish. He is also highly proficient in Spanish.

Andrew Kissner

Of Counsel

Joseph Murphy is an associate in Morrison Foerster’s Business Restructuring + Insolvency Group in the New York office.Joseph has experience representing and advising debtors, creditors, trustees, and other parties-in-interest in complex chapter 7, chapter 11, and chapter 15 bankruptcy proceedings and corporate restructurings.Prior to joining Morrison Foerster, Joseph worked as an associate at a boutique New York bankruptcy firm.Joseph graduated cum laude from Brooklyn Law School. As a law student, he served as notes editor for the Brooklyn Law Review and was awarded the American Bankruptcy Law Journal student prize.

Joseph Murphy

Associate

Ilayna Guevrekian is an associate in the Business Restructuring + Insolvency Group in the New York office of Morrison Foerster.Ilayna has experience in bankruptcy and corporate restructuring proceedings involving chapter 11 trustee, debtor, and creditor representations. Prior to joining Morrison Foerster, Ilayna served as a judicial law clerk for the Honorable Lisa G. Beckerman of the United States Bankruptcy Court for the Southern District of New York. She also served as a judicial intern for the Honorable Conrad D. Singer of the New York State Supreme Court and held several internships and jobs with New York law firms, including working as a summer associate.Ilayna earned her J.D. from St. John’s University School of Law and a B.A. in psychology and political science from Stony Brook University. During law school, Ilayna served as the executive research editor of the American Bankruptcy Institute Law Review and a senior staff member of the Commercial Division Online Law Report and the Dispute Resolution Society. She also worked as a constitutional law teaching fellow.

Ilayna Guevrekian

Helen Yan is an associate in Morrison Foerster’s Business Restructuring + Insolvency Group in the New York office.Helen has experience in financial restructuring, bankruptcy litigation, and business reorganization, with a focus on Chapter 11 bankruptcies.Prior to joining Morrison Foerster, Helen practiced as an associate in the New York office of another global law firm. She also worked as a judicial intern for Hon. Lorna G. Schofield of the United States District Court for the Southern District of New York.Helen earned her J.D. from New York University School of Law, where she was a staff editor of the Annual Survey of American Law and participated in the Civil Litigation – Employment Law Clinic. She holds a B.A., cum laude with departmental honors, in film studies from Columbia University.Helen is a member of the Asian American Bar Association of New York and is fluent in Mandarin.

Donghao Yan

Bankruptcy Litigation

Business Restructuring + Insolvency