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George R. Howard
George R. Howard
Partner — Restructuring & Reorganization
Partner — Restructuring & Reorganization

George R. Howard

George R. Howard
New York

The Grace Building
1114 Avenue of the Americas
32nd Floor
New York, NY 10036

George R. Howard

George’s practice involves representing debtors, creditors (including syndicated bank groups and agents), equity holders, and distressed investors in all aspects of complex corporate restructurings including chapter 11 cases, out-of-court restructurings, and special situation investments and acquisitions. George also advises boards of directors and senior management of financially troubled companies regarding fiduciary duties; restructuring strategies and considerations; operating in chapter 11; negotiating and structuring financings; mass tort, environmental and other legacy liability issues; and a wide range of complex commercial transactions.

George was selected as an emerging leader by the American Bankruptcy Institute’s 40 Under 40 initiative in 2019 and was named as an Outstanding Young Restructuring Lawyer by Turnarounds & Workouts in 2019. In addition, he advised on the restructuring of Molycorp, which was recognized as 2017 Transaction of the Year: International by the Turnaround Management Association.

Experience Highlights

  • Quantum Pacific (Gibraltar) Limited as the majority shareholder in the successful restructuring of Pacific Drilling S.A. pursuant to a consensual Chapter 11 plan that raised over $1.5 billion of new debt and equity financing

  • Bank of America, as administrative agent, in the high-profile and complex restructurings of Sears, Toys “R” Us and Algeco Scotsman Group

  • Peabody Energy, the world’s largest private coal company, in its $1.5 billion capital raise and successful emergence from chapter 11

  • Alpha Natural Resources, one of the largest producers of coal by volume in the U.S., in connection with the sale of substantially all of its assets and confirmation of a chapter 11 plan

  • Molycorp, one of the world’s largest rare earth producers and processors, in connection with its $2.2 billion chapter 11 restructuring and the related separation of its upstream mining and downstream processing businesses

  • NII Holdings, an international mobile communication services company, in connection with the $1.875 billion sale of its Mexican business to AT&T pursuant to section 363 of the Bankruptcy Code and its chapter 11 reorganization around its remaining businesses

  • Quantum Pacific (Gibraltar) Limited as the majority shareholder in the successful restructuring of Pacific Drilling S.A. pursuant to a consensual Chapter 11 plan that raised over $1.5 billion of new debt and equity financing

  • Peabody Energy, the world’s largest private coal company, in its $1.5 billion capital raise and successful emergence from chapter 11

  • Alpha Natural Resources, one of the largest producers of coal by volume in the U.S., in connection with the sale of substantially all of its assets and confirmation of a chapter 11 plan

  • Molycorp, one of the world’s largest rare earth producers and processors, in connection with its $2.2 billion chapter 11 restructuring and the related separation of its upstream mining and downstream processing businesses

  • NII Holdings, an international mobile communication services company, in connection with its chapter 11 reorganization

  • Fresh & Easy in connection with confirmation of a liquidating chapter 11 plan

  • Plant Insulation in connection with its reorganization and the implementation of a channeling injunction to address asbestos liability claims

  • Harry & David in connection with its chapter 11 plan of reorganization

  • Metaldyne Corporation in connection with the confirmation of a liquidating chapter 11 plan

  • Bank of America, N.A. in connection with the $1.84 billion secured ABL DIP financing facility for Sears and $1.3 billion secured financing for the acquisition of Sears by Transform Holdco

  • Bank of America, N.A. and Deutsche Bank in connection with the $1.25 billion cross-border credit facility for Alegco Scotsman Group

  • Bank of America, N.A. in connection with the payoff, in full, of the prepetition $2.13 billion ABL facility of Toys “R” Us

  • Molycorp in connection with the negotiation and approval of its $135.4 million DIP financing facility

  • Fortress Capital Corp. in connection with the $100 million DIP financing facility for The Great Atlantic & Pacific Tea Company

  • NII Holdings in connection with the negotiation and approval of a $350 million DIP financing facility

  • Hostess Brands in connection with the negotiation and approval of a $75 million DIP financing facility

  • St. Mary of the Woods in connection with the negotiation and approval of a $4.5 million DIP financing facility

  • Quantum Pacific (the 70% shareholder of Pacific Drilling, S.A.) in connection with Pacific Drilling’s $350 million rights offering to finance the company’s exit from chapter 11

  • Peabody Energy in connection with the negotiation and court approval of a $750 million offering of common stock and $750 million private placement of preferred shares to finance the company’s emergence from chapter 11

  • NII Holdings in connection with the negotiation and approval of the sale of its Mexican business to AT&T for $1.875 billion

  • Fresh & Easy grocery stores in connection with the sale of over 150 stores to Yucaipa Cos. LLC and the sale of various miscellaneous assets pursuant to section 363 of the Bankruptcy Code

  • WL Ross & Co. in connection with the $110 million acquisition of a majority stake in Navigator Holdings from the Lehman bankruptcy estate pursuant to section 363 of the Bankruptcy Code

  • St. Mary of the Woods in connection with the $15 million sale of a continuing care retirement community pursuant to section 363 of the Bankruptcy Code

  • Industrial Growth Partners in connection with its acquisition of Lexington Precision Corporation pursuant to section 363 of the Bankruptcy Code

  • Harry & David in connection with the negotiation and approval of a $55 million rights offering of common stock to finance the company’s exit from chapter 11

  • Metaldyne Corporation in connection with the sale of substantially of its assets pursuant to section 363 of the Bankruptcy Code to The Carlyle Group and Solus Alternative Asset Management for $400 million

  • The strategic analysis of various liability management alternatives for a major international pharmaceutical company

  • The court-appointed Dutch administrator in connection with the Brazilian insolvency proceedings and related chapter 15 proceedings of Oi S.A.

  • An ad hoc group of lenders in connection with restructuring negotiations for rue21, inc.

  • Mudrick Capital in connection with an objection to the sale of Revel Casino

  • Peabody Energy in connection with the negotiation and approval of a $310 million settlement agreement with the United Mine Workers in the first Patriot Coal bankruptcy case

  • General Motors LLC in connection with a $450 million lawsuit brought by the UAW

  • MBIA Insurance in connection with the chapter 11 cases of Forum Health

Credentials

  • University of Arizona, J.D. magna cum laude, 2008
  • University of Arizona, M.B.A., 2008
  • Princeton University, A.B., German, 2002
  • Turnaround & Workouts, Outstanding Young Restructuring Lawyer, 2019
  • American Bankruptcy Institute, 40 under 40, 2019
  • Turnaround Management Association 2017 Transaction of the Year, International: Molycorp
  • Member: American Bankruptcy Institute
  • Member: Turnaround Management Association
  • New York
  • DIP Financing in Retail Bankruptcy Cases, TMA Journal of Corporate Renewal, April 2020
  • Where Past is Prologue: Applying Lessons from the Past to Protect ABL Lenders in a World of Future Distress, The Secured Lender, January/February 2020 (co-authored)
  • Rights Offerings Prove Popular with Both Debtors, Distressed Investors, TMA Journal of Corporate Renewal, January/February 2018 (co-authored)
  • Sixth Circuit Rejects Per Se Rule Automatically Mooting Sale Appeals in the Absence of a Stay, Pratt’s Journal of Bankruptcy Law, July/August 2017