Zachary A. Paiva
The Grace Building
1114 Avenue of the Americas
32nd Floor
New York, New York 10036
Zack’s primary area of practice focuses on all aspects of restructuring and reorganization work, including the representation of debtors, creditors, and equity holders in both chapter 11 cases and out-of-court restructurings.
The following is a list of representative matters in which Zack has assisted.
Company Representations
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
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
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
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
TPG and Providence Equity Partners in connection with the restructuring of portfolio company Rentpath, Inc.
Riverstone Holdings and HPS Investment Partners in connection with the restructuring of Alta Mesa Resources and its subsidiaries involving approximately $862 million of funded debt
Bonanza Creek Energy in a merger to acquire HighPoint Resources Corporation that was valued at approximately $376 million, and included a registered exchange offer, consent solicitation, and simultaneous registered solicitation of a prepackaged plan of reorganization under Chapter 11, which was followed by two subsequent out-of-court mergers and acquisitions by the combined company, resulting in a company with total expected enterprise value of $4.5 billion
An ad hoc group of lenders holding approximately $175 million in senior secured term debt in the prepackaged chapter 11 cases of Pioneer Energy Services Inc.
Riverstone Credit Partners as administrative agent and lender on behalf of a syndicate of lenders under a $410 million term loan facility in the restructuring of MTE Holdings and its subsequent chapter 11 cases and related litigation; engagement evolved to representation in connection with acquisition of debtor’s assets by lender affiliate pursuant to a chapter 11 plan
Angelo, Gordon Energy Servicer, LLC as administrative agent for a prepetition secured credit facility and a debtor in possession credit facility in the chapter 11 bankruptcy case of Weatherly, Oil & Gas, LLC
Credentials
- Fordham University School of Law, J.D., 2018 (Competitions Editor, Fordham Dispute Resolution Society; Associate Competitions Editor, Fordham Moot Court Board; Staff Member, Fordham Urban Law Journal).
- University of Michigan, B.A. Sport Management, Minor in Political Science, 2015.
- New York
- U.S. District Court for the Southern District of New York
- Deals & CasesJune 27, 2022
- Deals & CasesJuly 12, 2021