Neiman Marcus Group LTD LLC — Representing Neiman Marcus Group LTD LLC and 23 of its affiliates in their pre-arranged Chapter 11 cases. Neiman Marcus Group brands include Neiman Marcus, Bergdorf Goodman, Horchow, and Last Call. Neiman Marcus Group employs more than 13,000 people and operates 67 stores, in addition to a substantial e-commerce business. With approximately $5.3 billion in debt, Neiman Marcus Group entered bankruptcy with a Restructuring Support Agreement that carries broad stakeholder support and would slash approximately $4 billion from the company’s balance sheet.
McDermott International, Inc. — Represented 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 were confirmed in less than 60 days and contemplated a transaction that re-equitized the company, deleveraged over $4 billion of funded debt, preserved an unprecedented $2.4 billion in prepetition letters of credit, left trade claims unimpaired, and included a sale of McDermott’s Lummus technology business for $2.725 billion. McDermott emerged from Chapter 11 only five months after the petition date.
American Energy – Permian Basin, LLC — Represented the private equity sponsors and Sable Permian Resources, LLC (as operator of the oil and gas assets) in the successful completion of AEPB’s $2.1 billion out-of-court recapitalization. The transaction reduced AEPB’s debt obligations by approximately $1.4 billion and reduced upcoming debt maturities over the next four years to approximately $36 million from approximately $2.1 billion. In addition, the transaction eliminated approximately $94 million of annual cash interest expense and simplified AEPB's organizational structure.
Sheridan Holding Company II, LLC — Represented Sheridan Holding Company II, LLC, and certain affiliates in their prepackaged Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of Texas. Sheridan II is the second of three series of Sheridan oil and natural gas investment funds. Sheridan II’s prepackaged restructuring addressed over $1.1 billion of funded debt obligations through an equitization which had near universal creditor support and left general unsecured creditors unimpaired.
Westmoreland Coal Company — Representing Westmoreland Coal Company and its affiliates in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Westmoreland Coal Company is engaged in producing and selling thermal coal and has domestic operations in six states and international operations in Canada. As of the petition date of October 9, 2018, Westmoreland and its affiliates had funded debt of approximately $1.1 billion.
