Chesapeake Energy Corporation — Representing Chesapeake Energy Corporation and 40 of its subsidiaries in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Chesapeake is a premier oil and natural gas exploration and production company with a high-quality, unconventional oil and natural gas asset portfolio, with substantial positions in top U.S. onshore plays. Chesapeake and its debtor-affiliates had more than $9 billion of funded debt obligations as of the commencement of their Chapter 11 cases. Prior to commencing the Chapter 11 cases, Chesapeake obtained commitments from certain of its secured creditors for over $4 billion of new capital, including a $925 million new money debtor-in-possession financing facility, a $600 million fully backstopped rights offering, and $2.5 billion of exit facilities as part of a comprehensive restructuring support agreement that would eliminate approximately $7 billion of Chesapeake’s funded debt obligations.
Seabras 1 USA, LLC ― Representing Seabras 1 USA, LLC and Seabras 1 Bermuda Ltd. in their Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of New York. Seabras owns the first transoceanic submarine fiber optic cable system directly connecting the commercial and financial centers of North America and South America. Through this system, Seabras sells international broadband capacity between the U.S. and Brazil and leases fiber routes in New York to telecommunications companies, internet and cloud service providers, financial institutions, and other large enterprises.
Acosta, Inc. ― Represented Acosta, Inc., a multinational full-service sales, marketing, and retail merchandising agency with 30,000 employees, serving 1,200 blue chip companies across the globe, in its prepackaged restructuring of $3 billion of indebtedness. Acosta’s Chapter 11 plan was confirmed by the United States Bankruptcy Court for the District of Delaware just 15 days after the bankruptcy filing.
Z Gallerie, LLC ― Representing Z Gallerie, LLC, a leading specialty retailer focused on fashion and art-conscious home décor with retail locations across the United States and a significant e-commerce platform, in its Chapter 11 case in Delaware.
EXCO Resources, Inc. ― Representing EXCO Resources, Inc. in its Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of Texas. EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, acquisition, development and production company headquartered in Dallas, Texas with principal operations in Texas, North Louisiana and the Appalachia region. EXCO listed approximately $1.4 billion of funded debt obligations at the time of filing.
