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
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
Riverstone Holdings LLC, its portfolio company, Talen Energy Corporation (TEC), and TEC’s wholly-owned subsidiary, Cumulus Growth Holdings LLC in the chapter 11 cases of TEC’s wholly-owned subsidiary Talen Energy Supply, LLC, which involved key settlements that paved the way for a consensual reorganization of Talen’s legacy power generation business and the Cumulus data center and cryptomining growth initiatives and allowed Riverstone to retain material equity positions in both TEC and Cumulus Growth
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
CARBO Ceramics Inc. and certain of its affiliates, who were engaged in the manufacturing of ceramic proppant and other industrial ceramic products, in their chapter 11 bankruptcy cases filed in Houston, Texas; pre-negotiated chapter 11 plan confirmed within 80 days of case filing
California Resources Corporation and certain of its affiliates, as company co-counsel, in their pre-negotiated chapter 11 cases filed in Houston, Texas
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
Samuel Wyly in the largest chapter 11 personal bankruptcy case for an individual in 20 years; secured a settlement with the SEC; conducted multiple asset sales for the benefit of creditors