Experience

• • Philippine Airlines in its filing for chapter 11 protection in New York to implement a comprehensive restructuring, which is supported by substantially all of its lenders, lessors, and aircraft and engine suppliers, as well as its majority shareholder, that will allow the company to successfully reorganize its finances and fleet to navigate the COVID-19 crisis and emerge as a leaner and better-capitalized airline. The transaction received the Restructuring Community Impact and the Restructuring Deal of the Year (Over $5B) awards by The M&A Advisor at its 16th Annual Turnaround Awards, as well as AirFinance Journal’s Asia-Pacific Deal of the Year and Airline Economics’ Asia Pacific Restructuring Deal of the Year.
  • CHC Group, one of the largest global commercial helicopter service companies in the world, as aircraft counsel in its Chapter 11 proceedings in the U.S. Bankruptcy Court for the Northern District of Texas, in which CHC successfully restructured more than $2 billion in indebtedness. Debevoise was named joint winner of “Restructuring Deal of the Year (Over $1B to $5B)” at the 12th Annual M&A Advisor Turnaround Awards for this representation.
  • American Airlines and AMR, as special aircraft counsel, in their successful Chapter 11 proceedings involving the restructuring of complex financing arrangements relating to more than 400 aircraft, generating savings in excess of $1.8 billion and to the raising of more than $9 billion of new financing through various capital markets, syndicated lending and other financing transactions. This restructuring was honored by Turnarounds & Workouts as one of a dozen Successful Restructurings – 2013.
  • Altegrity, a global, diversified risk and information services company, together with its operating businesses Kroll, HireRight and USIS, in their pre-negotiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, in which they successfully restructured more than $1.8 billion in funded indebtedness and consensually resolved significant contested claims that had been asserted by the U.S. government. This restructuring was honored by Turnarounds & Workouts as one of ten Successful Restructurings – 2015.
  • OSX Leasing, a member of the EBX family of companies, in the multinational cross-border restructuring of more than $2 billion of funded debt.
  • Oaktree Capital Management with TPG and JH Investments in their $955 million acquisition of the North American businesses of Taylor Wimpey.
  • GoldenTree Asset Management and various funds under its management in the out-of-court restructuring and corporate reorganization of Source Home Entertainment.
  • Delta Air Lines and Comair, as special aircraft counsel, in their successful Chapter 11 proceedings involving the refinancing of more than 275 aircraft via new debt or lease arrangements, the return or other disposition of more than 140 aircraft, the elimination of four aircraft types from Delta’s fleet and the litigation of substantial aircraft financing claims.
  • A group of investors, including Oaktree Capital Management and Avenue Capital, in the acquisition of the assets of the Sea Island Resort through its Chapter 11 case.
  • Justice Gary S. Stein, as trustee and conservator of the Tropicana Atlantic City, in the Chapter 11 bankruptcy proceeding of Tropicana Entertainment LLC and the sale of the Atlantic City casino.
  • Globo in the restructuring of in excess of $1.3 billion of international bond and international and Brazilian bank debt.
  • Leiner Health Products in its purchase of Pharmaceutical Formulations in a Chapter 11 sale.
  • Numerous large suppliers to distressed companies in various sectors both in and out of bankruptcy and in cross-border insolvencies.
  • Mortgage certificate holder in the Chapter 11 case of Extended Stay Hotels.
  • MIG, as special corporate and litigation counsel to the debtor in its Chapter 11 case.
  • Oaktree Capital Management, as mezzanine lender, in the challenging and successful out-of-court restructuring of an after-market parts distributor.
  • North Castle Partners in its sale of Naked Juice to Pepsi.
  • North Castle Partners in the $650 million recapitalization of Leiner Health Products.