Axip Energy Services, LP, a provider of natural gas compression services to upstream and midstream customers, and certain of its affiliates in connection with their ongoing chapter 11 cases, including the negotiation and implementation of the sale of substantially all of the company’s assets
Encore Renewable Energy, a leading renewable energy developer and operator, in connection with the successful out-of-court restructuring of its bespoke integrated construction-to-term debt and a tax equity bridge facility
Lithium Americas Corp., a resource and materials company focused on developing, building and operating its Thacker Pass lithium project, in connection with the successful out-of-court restructuring of its $2.6 billion loan with the Loans Program Office at the Department of Energy and its joint venture with General Motors
Green Plains Inc., one of the nation’s leading ethanol producers, in connection with its pursuit of various financing and strategic alternatives, including the sale of its Rives, TN plant to retire debt and enhance liquidity
Desktop Metal, Inc., an additive manufacturing company, in connection with the sale of substantially all of its assets through chapter 11 bankruptcy cases
Danimer Scientific, Inc., a leading producer of biodegradable and compostable plastic alternatives, in connection with the sale of substantially all of its assets through chapter 11 bankruptcy cases filed in the U.S. Bankruptcy Court for the District of Delaware
KLX Energy Services Holdings, Inc., an onshore provider of oilfield services, in refinancing approximately $232 million in aggregate principal amount of senior secured notes and entry into a new $125 million asset-based revolving credit facility
Enviva Inc., the world’s largest producer of industrial wood pellets as a source of renewable energy, in connection with its comprehensive financial restructuring and chapter 11 bankruptcy cases; the company’s restructuring deleveraged its balance sheet by approximately $1.4 billion while raising approximately $1.3 billion in new-money commitments through a senior secured exit facility and an equity rights offering, and facilitated the renegotiation and preservation of key, long-term customer offtake contracts critical to its business operations
The Officer Special Committee of Matterhorn Buyer, LLC, a debtor in the chapter 11 cases of Hearthside Food Services, a leading food contract manufacturer
KidKraft, Inc., a Dallas-based children’s furniture, swing set, and toy designer and distributor with operations in the U.S., Canada, Europe, and Asia, filed their prepackaged chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas. The cases were prosecuted promptly with confirmation of the prepackaged chapter 11 plan in less than 45 days after filing the chapter 11 cases followed by consummation of the asset sale. The plan included a global settlement with the unsecured creditors’ committee, equity sponsor, senior lender, and asset purchaser
Strategic Materials, Inc., North America’s leading glass recycling company, and certain of its affiliates in their prepackaged chapter 11 cases that deleveraged the company’s capital structure by converting over 65% of the company’s approximately $430 million of prepetition secured funded debt into equity; the prepackaged chapter 11 plan was confirmed within only 37 days of commencing the chapter 11 cases in Houston
Cap Hill Brands, Inc., a consumer products company dedicated to nurturing high-quality, enduring consumer brands and positioning them to thrive in an e-commerce world, in its out-of-court restructuring
Diamond Products, a global leader in manufacturing wellness products, in connection with its out-of-court restructuring
Limetree Bay Terminals, LLC and its affiliates (dba Ocean Point Terminals) in connection with various out-of-court transactions including amendments to and covenant relief under its existing credit facilities and the refinancing and repayment in full of its $475 million senior secured term loan facility
Axip Energy Services, a provider of natural gas compression services to upstream and midstream customers, in connection with its successful out-of-court restructuring efforts and merger transaction
A publicly-traded Chinese real estate company in connection with the evaluation of various strategic and capital raising alternatives
Stronghold Digital in an out-of-court restructuring which significantly enhanced liquidity and financial flexibility by removing all material mandatory principal repayments through the middle of 2024 via an amendment of its credit facility, and the exchange of all outstanding note obligations for a newly issued series of convertible preferred stock
An independent committee of the board of directors of Daktronics, Inc., a publicly traded company that specializes in designing and manufacturing electronic scoreboards, programmable display systems, and large-screen video displays, in connection with the company’s efforts to improve its financial structure and liquidity profile
The nation’s leading wagyu seedstock producer in chapter 11 cases precipitated by an adverse state court judgment contested on appeal, and which are currently pending before the U.S. Bankruptcy Court for the Southern District of Texas
Dhanani Group Inc. and its subsidiaries, the second largest quick-service restaurant franchisee group in the United States, with 849 restaurants across 23 states, in connection with an out-of-court workout and refinancing in the form of a $500 million credit facility provided by a group of lenders led by Monarch Alternative Capital LP
Rockall Energy and its subsidiaries in a chapter 11 sales process in which substantially all of the company’s operating assets were sold to Formentera Partners Fund I, LP pursuant to a prepackaged chapter 11 plan with a dual-track sale and back-stop equitization process that was confirmed within 83 days of commencing the chapter 11 cases
Publicly-traded energy services company in connection with evaluating various liability management alternatives resulting in an out-of-court capital raise and settlement of material litigation, and effectively positioning the company for a strategic combination
Private upstream E&P company in the $215 million distressed sale of substantially all of their assets in Sublette County, Wyoming (Pinedale Field) to a strategic buyer with the consent of the company’s lenders, who cancelled all debt in excess of the purchase price in connection with the out-of-court transaction
Jonah Energy in connection with its out-of-court restructuring, which deleveraged the Company’s balance sheet by approximately $580 million through a combination of transactions including a cash tender offer for any and all of Jonah’s existing senior unsecured notes, the redemption of all non-tendered notes, a fully-backstopped equity rights offering to fund $85 million of new equity investment from all eligible existing noteholders, and entry into an amended and restated credit facility with an initial borrowing base of $750 million
Meritage Midstream in an out-of-court restructuring involving a new $75 million debt investment by Riverstone Holdings, amendment and extension of Meritage’s $500 million credit facility, and resolution of protracted litigation with a significant contractor
Lilis Energy in an in-court sale process in which substantially all of the company’s operating assets were sold to Ameredev Texas LLC as part of its chapter 11 cases involving approximately $400 million in total liabilities plus the confirmation of a chapter 11 plan in the U.S. Bankruptcy Court for the Southern District of Texas
CSI Compressco in an out-of-court exchange process whereby approximately 72.7% of the company’s existing unsecured notes were exchanged for new senior secured first and second lien notes, which, among other things, resulted in a multi-year maturity extension for the exchanged notes
Unit Corporation, a diversified, publicly-traded energy company engaged in oil and natural gas exploration and production, contract drilling, and midstream services, and its affiliates in connection with its prearranged chapter 11 cases deleveraging the company by approximately $650 million in a debt-for-equity transaction with its subordinated noteholders
Carbo Ceramics in an in-court restructuring involving a debt-for-equity exchange with the company’s prepetition and DIP lenders
Cloud Peak Energy in the sale of substantially all their operating assets to an affiliate of the Navajo Nation as part of its chapter 11 cases involving approximately $350 million in funded debt and over $750 million in total liabilities
Taco Bueno Restaurants in a prepetition debt sale transaction followed by an in-court restructuring in the U.S. Bankruptcy Court for the Northern District of Texas that involved equitizing $140 million in senior secured debt, transitioning ownership to an affiliate of Sun Holdings, Inc., renegotiating a substantial portion of the company’s lease portfolio, and reaching a global settlement with unsecured creditors in fewer than 45 days
Harvey Gulf International Marine, a Jones Act regulated marine transportation company, in all aspects of its complex balance sheet restructuring involving approximately $1.3 billion in senior secured funded debt, and effectuated through prepackaged chapter 11 cases
Energy XXI, a publicly-traded offshore energy E&P company, in connection with its chapter 11 cases which reduced the company’s funded debt by approximately $3.0 billion
Bellatrix Exploration Ltd., a Canadian exploration and production company, in connection with its out-of-court restructuring transaction and private up-tier exchange offer
Petro Harvester Oil & Gas in the out-of-court restructuring of its approximately $142.3 million in first lien debt obligations and successful merger with a strategic partner
StoneMor Partners, a leading owner and operator of cemeteries and funeral homes, in its credit facility amendments and out-of-court restructuring
U.S. Oil and Refining in connection with its credit facility amendments and out-of-court restructuring
Natural Resource Partners, a master limited partnership principally engaged in owning and managing mineral reserve properties, in connection with its comprehensive out-of-court restructuring
Goodrich Petroleum in out-of-court restructuring transactions and in-court restructuring involving the deleveraging of nearly $450 million
Cloud Peak Energy, a leading producer and marketer of coal, in connection with its out-of-court restructuring
Sanjel Corporation, an oilfield services company headquartered in Canada, in connection with a chapter 15 case and the sale of substantially all of the debtor’s U.S. assets
Sundevil Power Holdings LLC, a merchant power company, in connection with the sale of its power block assets in its chapter 11 case filed in Delaware
Patriot Coal, a leading producer and marketer of coal in the eastern United States with several active mining complexes in West Virginia, in connection with its chapter 11 cases
Sbarro, the largest mall-focused Italian restaurant concept in the world, in connection with its prepackaged chapter 11 cases as well as the company’s restructuring in 2011, in which the company reduced its total funded debt by nearly 70%, from approximately $400 million to approximately $130 million
Physiotherapy, a leading provider of outpatient rehabilitation services and the largest provider of outpatient physical therapy services in the United States, in its prepackaged chapter 11 cases; Physiotherapy’s prepackaged plan of reorganization reduced its total funded indebtedness by 62%, from $375 million to $144 million, and provided the company with long-term financing and access to incremental funding to support the company’s go-forward business needs
Stereotaxis, a health care technology manufacturer of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, in connection with its restructuring efforts and exploration of strategic alternatives
Hawker Beechcraft, a world-leading manufacturer of business, special mission, light attack and trainer aircraft, in its chapter 11 case, which involved converting approximately $2.5 billion in funded indebtedness into equity, negotiating a global settlement with the Pension Benefits Guarantee Corporation and the International Association of Machinist and Aerospace Workers regarding the treatment of Hawker Beechcraft’s three qualified defined benefit pension plans and its collective bargaining agreement, and a significant operational restructuring that included shutting down business jet production and reorganizing around the company’s core Beechcraft, defense, special mission and customer support businesses
Prommis, a leading provider of processing services and technological solutions to law firms, mortgage servicers, and trustees serving the residential mortgage industry, in connection with its out-of-court restructuring through an Article 9 sale, and its subsequent chapter 11 cases and successful asset sales
The Majestic Star Casino, which operate gaming facilities in Indiana, Mississippi, and Colorado, in their chapter 11 cases, which involved Majestic’s plan of reorganization supported by each of its major stakeholders that reduced the company’s funded indebtedness by nearly 78% (from $735 million to $160 million), safeguarded the continued employment of the company’s 2,600 employees and protected the vital revenue stream provided by the company’s tax payments to multiple jurisdiction
The Reader’s Digest Association, a global multi-brand media and direct marketing company with more than 130 million customers in 78 countries, in their prearranged chapter 11 cases; in less than six months in bankruptcy, the company reduced its total debt by more than 75%, from more than $2.2 billion to $525 million and achieved several operational restructuring initiatives; Reader’s Digest was also the first company in five years to refinance its exit debt through a high yield bond offering, which was completed simultaneously with the chapter 11 exit
Hawaiian Telcom, the state of Hawaii’s incumbent telecommunications provider, in its confirmed plan of reorganization, which reduced its total funded debt obligations from approximately $1.15 billion to $300 million
Network Communications, Inc., a leading local media company providing lead generation, advertising and internet marketing services to the residential real estate industry, in connection with an out-of-court restructuring of approximately $300 million in outstanding indebtedness
White Birch Paper Company, the second largest newsprint company in North America, in its successful cross-border auction and sale process
UTGR, Inc. d/b/a Twin River, Rhode Island’s largest slot parlor, in its chapter 11 cases
Flying J, a fully-integrated oil company with operations in the field of exploration, production, refining, transportation, wholesaling and retailing of petroleum products, and one of the 20 largest privately held companies with 2007 consolidated sales in excess of $16.2 billion, in its chapter 11 case
Leiner Health Products, a leading United States manufacturer of store brand vitamins, minerals and nutritional supplements, in their chapter 11 cases that involved approximately $500 million of debt obligations, a negotiated resolution of a federal criminal investigation, and a highly successful sale of substantially all of Leiner’s assets
