McDermott International, Inc. — Representation of McDermott International, Inc. and 225 of its subsidiaries and affiliates, including 107 foreign domiciled entities, in their prepackaged Chapter 11 cases in the U.S. Bankruptcy Court of the Southern District of Texas. McDermott is a premier, global upstream and downstream engineering, procurement, construction, and installation company and employs over 42,000 individuals across 54 countries and six continents. McDermott’s prepackaged Chapter 11 cases contemplate a fully consensual restructuring transaction to be confirmed in less than 60 days that will equitize nearly all of McDermott's funded debt, eliminating over $4.6 billion of debt, and an auction process to sell McDermott’s Lummus technology business supported by a “stalking horse” bid with a base purchase price of $2.725 billion.
APC Automotive Technologies, LLC — Represented APC Automotive Technologies, LLC, a leading supplier of undercar replacement parts in the automotive aftermarket, in a successful out of court restructuring transaction that reduced APC’s debt through a consensual equitization of $125 million of junior debt and a $40 million capital infusion from APC’s equity sponsors and lenders.
