STG Logistics, Inc. — Representation of STG Logistics, Inc. and 64 of its affiliates in their prearranged Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of New Jersey. STG is one of North America’s largest providers of integrated port-to-door services and supply chain solutions for cargo owners and logistics providers, including intermodal transportation, drayage, transloading, warehousing, and over-the-road and less-than-truckload solutions. STG filed for Chapter 11 protection in January 2025 with over $1.1 billion in funded debt. With the support of over 89% of its funded debt lenders, the company aims to deleverage its balance sheet through either an equitization of funded debt or via a sale through an in-court marketing process. STG also obtained commitments from its secured lenders to provide at least $125 million of new money debtor-in-possession financing to fund STG’s Chapter 11 cases and provide critical working capital for STG’s business operations.
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.
Hoonigan — Representation of Hoonigan and 26 of its affiliates (collectively, Hoonigan) in their prepackaged cases filed in the United States Bankruptcy Court for the District of Delaware. Hoonigan is a global designer and supplier of premium aftermarket automotive products, reaching millions of customers through a broad network of distributors, e-commerce platforms and digital content. Hoonigan commenced its prepackaged cases with a consensual deal with a majority of its debtholders and sponsor that contemplates eliminating approximately $1.2 billion of its $1.7 billion prepetition funded debt and leaving general unsecured claims unimpaired.
