Experience

• • Alaska Air Group in its $2.85 billion financings consisting of a $2 billion loyalty secured senior notes offering and term loan facility and a new $850 million revolving credit facility.
  • Hawaiian Airlines in its exchange offer of $1.2 billion aggregate principal amount of 5.750% Senior Secured Notes due 2026 for $985 million aggregate principal amount of 11.000% Senior Secured Notes due 2029 and cash and related consent solicitation, which closed on July 26, 2024.
  • Brigade Capital Management, the second largest holder of secured debt issued by Avaya, in Avaya’s pre-packaged chapter 11 bankruptcy proceeding.
  • Certain holders of second lien term loans issued by Integro Parent Inc., part of Tysers Insurance Brokers, Ltd., a leading Lloyds independent broker, in a transaction under which AUB Group Limited will acquire Tysers from Odyssey Investment Partners for $615.2 million.
  • Two Irish companies, lessors of two aircraft operating leases to Vietnam Airlines, with respect to their specific rights and obligations in the chapter 11 bankruptcies of their parent companies.
  • A global asset management firm in the purchase of 8% Exchangeable Senior Secured Notes issued by Avaya, a global leader in digital communications products, solutions and services.
  • CPPIB Credit Investments, a wholly-owned subsidiary of Canada Pension Plan Investment Board, and OMERS, the defined benefit pension plan for Ontario’s municipal sector employees, in separate investments totaling $900 million in Odyssey Group, a U.S.-based reinsurance and insurance subsidiary of Fairfax.
  • One Rock Capital Partners, as sponsor of Robertshaw US Holding in its Chapter 11 bankruptcy case.
  • Brigade Capital Management, the largest creditor of Guitar Center, in the company’s recapitalization through a prepackaged Chapter 11 case, resulting in affiliates of Brigade, together with affiliates of Ares and Carlyle, controlling Guitar Center and eliminating $800 million in Guitar Center debt.
  • Agricultural Bank of China Limited, New York branch, as agent for a $3.55 billion term loan facility issued by subsidiaries of HNA Group, which is currently the subject of a PRC restructuring.
  • Blackstone Tactical Opportunities, as co-sponsor of TriMark, with respect to TriMark’s 2020 “uptiering” transaction. Our team obtained dismissal of the nonparticipating lenders’ claims against Blackstone in New York state court litigation.
  • Brigade Capital Management and B. Riley Financial Inc., as debtor-in-possession lenders who provided a $257 million DIP facility to Barneys New York in the company’s Chapter 11 proceedings.
  • Ad Hoc Group of Term Lenders of Red Lobster in an amendment and refinancing management transaction involving the well-known restaurant chain Red Lobster, which has been impacted by the COVID-19 pandemic.
  • Ad Hoc Group of First Lien Noteholders of Hot Topic, in pursuing a lawsuit and remedies against a sponsor resulting from the transfer of a valuable business, resulting in favorable resolution that caused bond price to jump from 63 cents to 97 cents.
  • Brigade Capital Management, as debtor-in-possession lender in providing a $95 million DIP facility and a $100 million exit facility to Alpha Media in its Chapter 11 bankruptcy case.
  • Official Committee of Second Lien Noteholders of Caesars Entertainment Operating Company, representing holders of more than $5 billion of second lien notes, which received a distribution of 66.5 cents, a sevenfold increase from the original proposed distribution of 9 cents.
  • Ad Hoc Group of Second Lien Noteholders of Bon Ton Department Stores, in the Chapter 11 bankruptcy proceeding of the department store chain, and in the ultimate purchase and monetization of substantially all of the assets of the U.S. department store chain.
  • Ad Hoc Group of 1.5 Lien Noteholders of Hexion, Inc. in the prearranged Chapter 11 bankruptcy proceeding of a global chemical company.
  • Ad Hoc Minority Group of PIK Term Loans of EB Holdings II in the Chapter 11 bankruptcy proceedings of the owner of Eco-Bat Technologies, the world’s biggest recycler and producer of lead, in the United States Bankruptcy Court for the District of Nevada.
  • The Los Angeles Dodgers, a major league baseball club, in its successful Chapter 11 bankruptcy proceeding in which an investment group led by Guggenheim Partners acquired the team and media rights for a price in excess of $2 billion.
  • Creditors of Azabu Buildings, Ltd., in prosecuting and then participating in the involuntary bankruptcy proceeding of the Japanese real estate company.
  • Ad Hoc Group of First Lien Noteholders of Premier Entertainment Biloxi, in the Chapter 11 bankruptcy case of the hotel/casino, resulting in recovery for the holders of par plus accrued interest plus a $9.5 million makewhole premium.
  • The Chapter 11 trustee for Hawaiian Airlines in the bankruptcy proceedings of the airline and also as its lead trial counsel in obtaining an $80 million judgment (plus attorneys fees of $3.9 million) against Mesa Air Group arising from Mesa's breach of a confidentiality agreement.
  • Ad Hoc Group of Term Lenders of NYDJ Apparel, in NYDJ’s out of court restructuring and subsequent M&A sale of the company.
  • Ad Hoc Group of 2034 Notes of Nine West, in pre-bankruptcy restructuring negotiations.
  • Brookfield Asset Management, in the bankruptcy of a ground lessor of an office building located on the Miracle Mile in Los Angeles, CA.
  • Access Industries, as a 1.5 lien noteholder and shareholder of EP Energy Corporation, the Houston-based oil and gas driller, in connection with EP Energy’s Chapter 11 proceedings in U.S. Bankruptcy Court for the Southern District of Texas.