Distressed M&A and Section 363 Sales

Our Financial Restructuring Group regularly represents financial and strategic investors, and their portfolio companies, on acquisitions, dispositions and investments in distressed businesses and assets.

Whether in-court or out-of-court, we work closely with our clients to provide practical advice and innovative solutions to best achieve their goals. We have experience in a variety of transactions, including distressed buyouts, chapter 11 plan sponsorships, section 363 asset sales, plan sales, liquidation sales, exchange offers, recapitalizations and foreclosures.

Our cross-disciplinary team uses a fully integrated approach to deliver unrivaled counsel and seamless coordination on matters, providing advice on tax, financing, regulatory and governance issues. This unique platform provides a smooth transition to post-transaction legal services, with the same team often serving as outside counsel to the reorganized companies they helped structure.

Our lawyers have been recognized for their specialized knowledge and experience by leading industry publications such as Chambers USA, The M&A Advisor and The Legal 500 United States.

Representative Experience

  • Foresight Energy LLC: Represented an ad hoc group of noteholders in Foresight’s out-of-court exchange of $600 million of existing senior unsecured notes for $105 million of cash, $328 million of new secured notes, $120 million of new convertible notes and warrants for 4.5 percent of the fully-diluted equity of the reorganized company.
  • Iracore International Holdings, Inc: Represented an ad hoc group of noteholders in Iracore’s out-of-court exchange of $125 million of existing senior secured notes for substantially all of the issuer’s equity.
  • Loehmann’s, Inc.: Represented the fashion retailer in connection with its liquidation involving separate sales of its inventory, lease designation rights and intellectual property.
  • Neff Holdings Corp: Represented the prepetition first lien term lender in connection with its acquisition of substantially all of the assets of Neff Holdings pursuant to a plan sale.
  • OnCure Holdings, Inc.: Represented an ad hoc group of noteholders in connection with the plan sale of OnCure Holdings to Radiation Therapy Services, Inc.
  • RathGibson, Inc.: Represented an ad hoc group of noteholders and lenders in connection with its acquisition of substantially all of the assets of RathGibson pursuant to a plan sale.
  • Targus Group International, Inc.: Represented an ad hoc group of lenders in connection with the foreclosure of substantially all of the assets of Targus.