- Company & Debtor Representations
Company & Debtor Representations
Our nationally ranked Restructuring & Reorganization team represents companies in all aspects of complex corporate restructurings, including out-of-court exchange offers and restructurings, bespoke financings, special situation investments, distressed sales, and in-court proceedings.
Our team works closely and effectively with our company-side clients under stressed circumstances, maximizing efficiency for our clients by capitalizing on the firm’s global presence and talented bench of attorneys to best assist our clients in achieving their objectives. We leverage cross-office teams across relevant disciplines, including corporate, capital markets, litigation, tax, environmental, real estate, and compensation and benefits, to address complex legal issues and help reach optimal business outcomes.
We serve clients across the industry spectrum, including companies in the energy, mining/minerals, retail, maritime, power, health care, technology, manufacturing, and infrastructure sectors.
Significantly, our practice extends beyond solely company representations, which allows us to leverage our experience representing secured lenders, unsecured creditors, sponsors, and other key stakeholders to navigate legal complexities, anticipate obstacles, and negotiate creative solutions for our company clients. Wherever possible, we seek out-of-court solutions. When a chapter 11 filing is necessary, “pre-packs” and expedited in-court proceedings after achieving broad stakeholder consensus represent the bulk of outcomes for our clients.
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
Upstream E&P company in the approximately $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 an out-of-court restructuring involving a deleveraging of the company’s balance sheet by approximately $580 million through a rights offering, tender offer, and redemption of non-tendered notes, together with an amended and restated credit agreement of Jonah’s $750 million credit facility
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
Unit Corporation in its prearranged chapter 11 cases involving the deleveraging of more than $650 million via a debt-for-equity transaction with the company’s subordinated noteholders
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
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
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
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 in an in-court restructuring of a James Act Operator in its complex balance sheet restructuring addressing $1.3 billion in senior secured debt and deleveraging the company by nearly $900 million
Energy XXI in an in-court restructuring in which the company consensually equitized more than $3.6 billion in funded debt after extensive litigation related to complex corporate structure, intercompany transactions, and significant commodity price fluctuations
Natural Resource Partners in an out-of-court restructuring involving an amendment of the company’s revolving credit facility, private exchange offer of $241 million of the company’s outstanding senior notes into longer term senior notes, and $250 million in new money equity investment in the form of preferred equity and warrants
Goodrich Petroleum in out-of-court restructuring transactions and in-court restructuring involving the deleveraging of nearly $450 million
Numerous confidential company representations as companies navigate out-of-court credit facility amendments, financings, and business combinations