Bankruptcy and Restructuring
With a sophisticated understanding of the restructuring landscape, our multidisciplinary Bankruptcy and Restructuring practice provides comprehensive services in all aspects of restructuring and insolvency proceedings from pre-workout phase through litigation, if necessary. Our team of more than 30 insolvency and restructuring practitioners, located in Washington, DC, New York, Chicago, Denver, and Los Angeles, has been at the forefront of some of the largest and most complex multinational restructurings and insolvencies of the recent past.
We have developed longstanding relationships with the industry's key players and regularly represent a whole range of stakeholders, including corporate debtors, investors and asset purchasers, committees, bondholders, secured and unsecured creditors, parties dealing with distressed businesses, officers and directors, and other interested parties in corporate restructurings, bankruptcy proceedings, and related litigation throughout the United States.
Our bankruptcy lawyers are experienced litigators. We appear in trial and appellate courts throughout the United States and are often involved in precedent-setting cases. Our transactional experience is equally extensive. Our Bankruptcy and Restructuring practice has taken the lead in a number of sophisticated transactions in some of the country's largest bankruptcy cases. We have also negotiated and structured successful out-of-court restructurings, helped clients acquire distressed assets or businesses, and advised clients on their dealings with troubled companies.
In addition to the practice's substantive knowledge and experience regarding restructurings and insolvency proceedings, we frequently partner with Arnold & Porter's other practice groups—Litigation, Corporate and Finance, Securities Enforcement and Litigation, Tax, Environmental, Antitrust, Real Estate, Intellectual Property, and Government Contracts—to provide our clients with a full spectrum of legal services. As bankruptcy issues rarely arise in a vacuum, this multidisciplinary coordination is particularly valuable to our clients.
Our firm and its bankruptcy partners have been recognized by numerous publications as being among the leading bankruptcy and restructuring lawyers in the United States, including Chambers USA: America's Leading Business Lawyers, BTI Client Service All-Stars, The Best Lawyers in America, Legal 500 US: Corporate and Finance, Guide to the World's Leading Insolvency and Restructuring Lawyers, and other publications. Our bankruptcy partners are frequent lecturers, published authors, and widely recognized professionals.
Experience Highlights
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PetSmart, as counsel to ad hoc group of senior term lenders, in proposed spin-off of Chewy.com and related district court litigation.
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iHeart Media, as counsel to ad hoc group of senior term lenders, in the restructuring of its nearly $20 billion in indebtedness.
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Zohar III Corp., as counsel to controlling class of noteholders, in the Zohar III Bankruptcy cases and in other litigation.
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Cumulus Media, as counsel to ad hoc group of first lien lenders that were owed more than $1.6 billion.
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Welltower Inc. in the Chapter 11 bankruptcy cases of Passage Midland Meadows Operations LLC, et al., in the United States Bankruptcy Court for the Southern District of West Virginia, and in a receivership proceeding in the United States District Court for the Northern District of Ohio.
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New England Confectionery Company, as counsel to ACAS LLC and affiliates in District of Massachusetts bankruptcy case and in related bankruptcy court and district court litigation.
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Cortland Capital and Term Lenders in Paragon Offshore Inc. Chapter 11 proceeding involving total term, revolver and noteholder claims of approximately $2.4 billion.
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Arch Coal Inc., as counsel to ad hoc group of term lenders, in the restructuring of a $1.9 billion credit facility extended to Arch Coal, Inc. Arch successfully emerged from Chapter 11 as the term lenders received more than 90% of the post-reorganization equity and achieved a more than par recovery following emergence.
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US Airways, as lead restructuring counsel, in the company's second Chapter 11 reorganization and its merger with America West Airlines.
