Multi-Color Corporation — Representation of Multi-Color Corporation and 55 of its affiliates (collectively, MCC) in their prepackaged Chapter 11 proceedings filed in the United States Bankruptcy Court for the District of New Jersey. MCC is a leading global provider of prime label solutions, with more than 12,500 employees worldwide supporting prominent brands across end categories, including food and beverage, wine and spirits, home and personal care, and healthcare, among others. MCC entered Chapter 11 with the support of its key stakeholders, including an ad hoc group of secured first lien lenders holding more than 72% of first lien claims, and its equity owner, creditor, and plan sponsor, CD&R. The transactions contemplated by the restructuring support agreement will reduce MCC’s net debt from $5.9 billion to $2 billion, provide for a $889 million new common and preferred equity investment to support long-term growth and investment, capitalize the go-forward business with access to over $550 million of capital upon emergence, and leave employee and trade claims unimpaired.
Pretium Packaging, LLC — Representation of Pretium Packaging, L.L.C. (Pretium) and 9 of its affiliates in its voluntary prepackaged Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey, a first-of-its-kind expedited prepackaged case in the District. Pretium is a leading global supplier of sustainable rigid packaging solutions used by a diverse set of end markets. Pretium entered into Chapter 11 to implement a comprehensive restructuring transaction that would eliminate approximately $900 million of the company’s approximately $1.8 billion funded debt obligations with the overwhelming support of its existing lenders and Clearlake, Pretium’s equity sponsor. Pretium received approval for up to $533.5 million in debtor in possession (DIP) term loan facility and access to a $100 million DIP ABL facility, and commitments to roll such facilities into exit financing to support Pretium’s long-term growth.
Marelli — Representation of Marelli Holdings Co., Ltd. and 75 of its affiliates in their prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. Marelli is one of the largest “Tier 1” automotive components suppliers in the world, employing over 46,000 employees, operating in 24 countries and servicing over 65 OEMs and brand partners. Marelli filed for Chapter 11 with the support of over 80% of its lenders and commitments for over $1.1 billion of new debtor-in-possession financing. Through the Chapter 11 cases, Marelli plans to implement a series of restructuring transactions that will equitize nearly $5 billion of funded indebtedness subject to a marketing process for higher or better offers.
Ascend Performance Materials Holdings Inc. — Representation of Ascend Performance Material Holdings Inc., and certain of its subsidiaries (“Ascend”) in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Ascend is one of the largest, fully integrated producers of nylon, a plastic that is used in everyday essentials, like apparel, carpets and tires, and also new technologies, like electric vehicles and solar energy systems. Ascend filed for Chapter 11 protection in April 2025 with approximately $2 billion in funded debt obligations to pursue and implement a comprehensive deleveraging transaction with the support of its key stakeholders. As part of negotiations with existing lenders, Ascend received approval for a debtor-in-possession financing in the amount of approximately $900 million, including $250 million in new-money term loans. The DIP financing will fund Ascend’s Chapter 11 cases and provide crucial working capital for Ascend’s ordinary course operations.
Northvolt AB — Representation of Northvolt AB and eight of its affiliates in their Chapter 11 cases filed in the United States Bankruptcy Court for the Southern District of Texas. Northvolt is a Swedish manufacturer of electric vehicle batteries with a mission to build the world’s greenest battery. As of the petition date, Northvolt had nearly $6 billion in funded debt obligations. Northvolt filed Chapter 11 with commitments of $100 million in new money debtor-in-possession financing from a key customer and access to approximately $145 million in cash collateral from its project finance lenders.
