- Implant Sciences/L-3 Communications. We represent Implant Sciences in the $117.5 million sale of its explosives trace detection assets to L-3 Communications, a Section 363 bankruptcy sale, and in connection with its chapter 11 cases.
- CORE Media Group, Inc. We represent CORE Media Group, Inc., an owner, producer and developer of entertainment content, including the American Idol and So You Think You Can Dance brands of shows, and 47 of its affiliates (“CORE”) in connection with their chapter 11 bankruptcy cases for the Honorable Stuart M. Bernstein in the United States Bankruptcy Court for the Southern District of New York.
- Momentive Performance Materials. We represented Momentive Performance Materials, Inc., a maker of silicone and quartz products, and 11 of its affiliates (“MPM”) in connection with their chapter 11 bankruptcy cases before the Honorable Robert D. Drain in the United States Bankruptcy Court for the Southern District of New York. Prior to its filing, we led the negotiation and documentation of MPM’s prenegotiated plan of reorganization, which had the support of approximately 90% of its second lien noteholders. The restructuring resulted in the elimination of more than $3 billion of debt from MPM’s balance sheet.
- Lehman Brothers Holdings Inc. We represent Lehman Brothers Holdings Inc. (“LBHI”) in connection with litigation surrounding RMBS claims. In December 2014, we scored a series of significant victories on behalf of LBHI, including avoiding rulings that would have increased the claims pool of LBHI by more than $7 billion.
- WBH Energy Partners. We represented WBH Energy Partners as special counsel in connection with its Austin, TX-based chapter 11 reorganization, including negotiating DIP financing and the sale under section 363 of the Bankruptcy Code of the debtor’s assets.
- Rural/Metro Corporation. Represented the largest U.S. ambulance and related services provider in its ongoing effort to implement a balance sheet restructuring through a chapter 11 process. We advised Rural/Metro in expedited negotiations with its senior lenders and noteholders that led to Rural/Metro’s confirmation of their prenegotiated chapter 11 plan of reorganization less than five months after its filing.
- K-V Pharmaceuticals. Represented the specialty branded pharmaceutical company in its chapter 11 cases. Intercreditor disputes over the value of K-V’s assets led to a highly contentious chapter 11 plan process. The Willkie team helped K-V broker a favorable settlement resolving these issues and enabling K-V to obtain significant new investment and ultimately confirm its chapter 11 plan on a consensual basis.
- Bronx Parking Development Company, LLC. We represent the operator of the parking system servicing Yankee Stadium in connection with the restructuring of its roughly $237.5 million in tax-exempt bonds.
- Cengage Learning, Inc. Represented the independent director of Cengage Learning, in connection with an exhaustive investigation and systematic analysis of the propriety of the prepetition acquisition of certain Cengage debt instruments by Apax Partners (Cengage’s majority owner) and Cengage itself. Cengage Learning filed for bankruptcy on July 2, 2013. On September 13, 2013, Willkie finalized and filed a comprehensive report addressing the complex issues that framed its investigation.
- The Atlantic Club Casino. Represented the Atlantic City casino as special corporate counsel in its chapter 11 case, advising them on their DIP financing and approval of the sale of substantially all of their assets.
- RG Steel. We represent the steel manufacturer (a subsidiary of Renco Group) in its chapter 11 cases and orderly wind-down, which included an expedited sales process for three major steel facilities and ancillary production assets, consensual termination of collective bargaining agreements and significant ongoing litigation.
- Carey Limousine L.A., Inc. We represented the U.S. subsidiary of one of the world’s leading providers of chauffeured transportation services in its chapter 11 case. We assisted Carey in the negotiation and documentation of a plan of reorganization that incorporated a settlement of material litigation and was accepted by 100 percent of every voting class of creditors.
- Otelco Inc. We represented this Alabama-based telecommunications company in the structuring, negotiation and documentation of its prepackaged plan of reorganization and related restructuring support agreement with key creditors. We obtained bankruptcy court confirmation of Otelco’s plan 43 days after the bankruptcy filing.
- Broadview Networks. We represented the provider of communications and IT solutions in the formulation, negotiation and bankruptcy court process for its prepackaged chapter 11 plan, which was confirmed by the bankruptcy court 42 days after the bankruptcy filing.
OTHER RECENT DISTRESSED COMPANY REPRESENTATIONS:
Adelphia Communications Corporation (cable television provider, chapter 11)
Altos Hornos de México S.A.B. de C.V. (steel maker, suspension of payments proceeding)
Ampex Corporation (visual IT provider, chapter 11)
CCS Medical (medical supplies, chapter 11)
EnviroSolutions, Inc. (waste management, chapter 11)
Greatwide Logistics Services (transportation, chapter 11)
Interfaith Medical Center (hospital, chapter 11)
Journal Register Company (newspaper publisher, chapter 11)
LandAmerica Financial Group (title insurance provider, chapter 11)
Major Motion Picture Production and Distribution Company (movie production and distribution, out-of-court restructuring)
National Energy & Gas Transmission, Inc. (energy company, chapter 11)
PlayPower, Inc. (playground manufacturer, out-of-court restructuring)
Spheris, Inc. (medical transcription service provider, chapter 11)
RathGibson (manufacturer, chapter 11)
Telogy (equipment rental, chapter 11)
The Winter Group (fully integrated residential mortgage platform)
Value City Department Stores (retail, chapter 11)