Talen Energy Supply, LLC — Representing an ad hoc group of unsecured noteholders (the “Ad Hoc Group”) in the Chapter 11 cases of Talen Energy Supply, LLC and its affiliated debtors (“Talen”) in the United States Bankruptcy Court for the Southern District of Texas. Talen is one of the largest competitive power generation companies in North America, with a generation portfolio consisting of 18 facilities that are collectively capable of producing approximately 13,000 megawatts of power. Talen filed for Chapter 11 relief on May 9 to restructure its approximately $4.5 billion of funded debt obligations by way of a new money capitalization generated by an up to $1.65 billion new money capitalization generated by an equity rights offering backstopped by the Ad Hoc Group.
Nordic Aviation Capital — Representing Nordic Aviation Capital Designated Activity Company and its subsidiaries in connection with their prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the Eastern District of Virginia. NAC, an Irish company, is the largest regional aircraft lessor in the world with more than 475 aircraft. With over $7.7 billion of liabilities, NAC was the largest Chapter 11 filing in 2021.
Ascena Retail Group, Inc. — Representing Ascena Retail Group, Inc. and its affiliates in their prearranged chapter 11 cases in the U.S. Bankruptcy Court of the Eastern District of Virginia. At the time of its filing, Ascena was a leading specialty retailer for women and girls fora collective of seven brands, including Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Cacique, Catherines, and Justice, and over 2,800 stores, approximately 37,000 employees, and $1.6 billion in funded debt. Ascena entered chapter 11 with a restructuring support agreement designed to preserve its going concern business and allowed it to engage in a marketing process that resulted in a sale of Catherines’ assets for $40.8 million, Justice assets for $71 million, and the Lane Bryant and Premium Brands’ assets, including Ann Taylor, LOFT, and Lou & Grey, for $540 million. Ascena ultimately confirmed its chapter 11 plan with the support of its term lenders and general unsecured creditors.
Valaris plc — Representing Valaris plc and 89 of its subsidiaries in their prearranged Chapter 11 cases. Valaris, which is incorporated in the United Kingdom, is the world’s largest offshore driller by fleet size, owning 67 drilling rigs and operating in every major offshore hydrocarbon basin throughout the globe. Valaris filed Chapter 11 with a restructuring support agreement and backstop commitment agreement to fully equitize all $7.1 billion of its prepetition funded debt, consisting of an unsecured revolving credit facility and 15 series of unsecured notes. The noteholders supporting the restructuring also have committed to a fully backstopped rights offering for $500 million of new secured notes upon emergence from Chapter 11 as well as to provide a $500 million DIP financing facility.
Katerra Inc. — Representing Katerra Inc. and its subsidiaries in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Katerra is an innovative and eco-conscious construction company with facilities across the globe that develops, manufactures, and markets products and services in the commercial and residential construction spaces. Katerra commenced its chapter 11 cases with the goal of facilitating a marketing and sale process for its assets to maximize value and creditor recoveries.
