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Debtor Practice

Our experience and innovative problem-solving approach results in our continual engagement by troubled companies to lead them through out-of-court restructurings and Chapter 11 cases, helping them with all facets of reorganization proceedings, including debtor-in-possession financings, exit financings, Section 363 asset sales, and plans of reorganization. We have represented companies in a multitude of industries, including airline, health care, energy, entertainment, manufacturing, real estate, retail, service industries, technology, and transportation, among others. We often act on behalf of our private equity clients where portfolio companies are in need of restructuring.

Experience Highlights

  • ​​​​​​​Liberty Tire Recycling, North America's largest tire recycling business, in its out-of-court restructuring. The cross-border restructuring involved a refinancing of the first-lien debt and an exchange offer and consent solicitation pursuant to which the holders of over 98% of the Company's bonds converted to a combination of new debt securities and 100% of the equity.

  • ​​​​​​​Hostway Corporation, a leader in cloud hosting, managed web hosting and email applications, in the company's sale to Connecticut-based private equity and distressed securities firm, involving outstanding first and second lien credit facilities (both of which are agented by Fortress Capital Corporation) in the aggregate amount of $165 million.

  • ​​​​​​​Quad/Graphics Inc., the world's second largest commercial printer in cross-border restructuring, obtaining confirmation of a stand-alone plan of reorganization in the US and Canada.

  • US Airways in its second restructuring under Chapter 11, addressing, among other things, complex labor litigation and aircraft finance issues, and culminating in a merger with America West Airlines.

  • 4Kids Entertainment, an entertainment and media company that managed licensing, broadcast and merchandising rights to popular children's titles, in its successful Chapter 11 (SDNY), which was recognized as one of T&W's "Most Successful Restructurings of the Year" in 2012.

  • ​​​​​​​Preferred Fragrance Inc., a national distributor of perfumes and fragrances, and its equity sponsor, in its ongoing workout and refinancing of revolver, term and mezzanine indebtedness.

  • ​​​​​​​Downey Regional Medical Center-Hospital Inc. in its restructuring under Chapter 11 in the Central District of California.

  • ​​​​​​G-1 Holdings, as special environmental/bankruptcy counsel, on substantial environmental claims asserted by the US government.

  • IMPSAT Fiber Networks, the largest cable company in South America, in its successful cross-border restructuring, combining US Chapter 11 proceeding and country-specific consensual restructurings.

  • Insight Health Services in its successful Chapter 11 case in Delaware by developing an innovative approach that combined an exchange offer with a prepackaged plan of reorganization.