Representing FullBeauty Brands Holdings Corp. and its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court of the Southern District of New York. FullBeauty is an online plus-size apparel retailer that had $1.27 billion in funded debt at the commencement of filing. This was the fastest Chapter 11 case in history, obtaining confirmation of the prepackaged Chapter 11 plan in less than 24 hours. In addition, FullBeauty emerged from Chapter 11 faster than any company in history—staying in Chapter 11 for less than 90 hours.
Represented Charming Charlie, a Houston based specialty retailer focused on fashion jewelry, handbags, apparel, gifts and beauty products, in its Chapter 11 restructuring in the United States Bankruptcy Court for the District of Delaware. As of the Petition Date, the Company operates more than 375 stores in the United States and Canada. Charming Charlie entered into a restructuring support agreement with a majority of its term loan lenders and equity sponsors which provides for a comprehensive financial and operational restructuring that will significantly reduce the Company’s funded debt obligations and establish a sustainable capital structure.
Representing Energy Future Holdings Corp. and its affiliates (collectively, "EFH") in their Chapter 11 cases pending in the U.S. Bankruptcy Court for the District of Delaware. EFH — the largest generator, distributor and certified retail provider of electricity in Texas — is the product of the largest leveraged buy-out in history. With over $49 billion in liabilities and $36 billion in assets, EFH's Chapter 11 case is the largest operating Chapter 11 case ever filed in Delaware and one of the largest Chapter 11 cases filed in history.
Represented Sequa Corporation in its successful refinancing and out-of-court restructuring of approximately $1.9 billion of funded indebtedness. Pursuant to the consensual restructuring, Sequa obtained a significant new money investment, its senior credit facilities were refinanced in full, and over 90 percent of its unsecured notes were exchanged for new convertible preferred equity.
Represented Penn Virginia Corporation in its prearranged Chapter 11 restructuring in the United States Bankruptcy Court for the Eastern District of Virginia. The Company filed for Chapter 11 with a support agreement with all of its secured debt and a supermajority of its unsecured debt regarding a transaction that will reduce the company’s long term debt from approximately $1.2 billion to approximately $128 million. Penn Virginia is an independent oil and gas company engaged in the exploration, development, and production of oil, NGLs, and natural gas. The company’s operations are focused on oilfields primarily in the Eagle Ford shale in South Texas, with additional properties in the Granite Wash in Oklahoma and the Marcellus Shale in Pennsylvania. In 2017, the Turnaround Management Association recognized the successful Penn Virginia restructuring with its “Mid-Size Company Transaction of the Year Award.”
Represented Magnum Hunter Resources Corporation and its subsidiaries, an independent exploration and production company engaged in the acquisition, development and production of natural gas, natural gas liquids and crude oil, primarily in the States of West Virginia and Ohio, in its Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware.
Represented Texas-based Dex Media, Inc., and its affiliates and subsidiaries, a leading international media and marketing company with approximately $2.5 billion of funded debt obligations, in their Chapter 11 cases.
Represented Midstates Petroleum Company, Inc., an independent exploration and production company, in a series of transactions to increase its liquidity. The transactions included a private offering of $625 million of senior secured second lien notes, an exchange of existing unsecured senior notes for approximately $504 million of senior secured third lien notes, and an amendment to its existing revolving credit facility to allow for the senior secured second lien notes issuance, the exchange transaction and to provide additional covenant flexibility.
