Jordan E. Elkin

Cineworld Group plc — Representing Cineworld Group plc and 104 of its debtor affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Publicly traded on the London Stock Exchange, Cineworld, the parent company of Regal Entertainment Group, is the second-largest cinema chain in the world, operating over 9,100 screens at nearly 750 cinemas in 10 countries worldwide. Cineworld commenced its Chapter 11 cases with approximately $5.1 billion in funded debt and commitments from an ad hoc group of prepetition lenders to provide nearly $2 billion in debtor-in-possession financing.

Carestream Health, Inc. — Representing Carestream Health, Inc. and its debtor affiliates in their prepackaged Chapter 11 cases filed in the United States Bankruptcy Court for the District of Delaware. Carestream, a Rochester, New York based global provider of medical imaging systems and non-destructive testing products had more than $1.3 billion of prepetition funded debt obligations. Prior to commencing the Chapter 11 cases, Carestream entered into a restructuring support agreement with a majority of its secured creditors to implement the comprehensive restructuring, eliminate approximately $470 million of funded debt obligations, and provide the Company with new liquidity through an $85 million exit facility and $75 million equity rights offering.

PSS Industrial Group — Represented Prowler Super Holding Corp. and its subsidiaries (PSS Industrial Group), an oilfield services provider and value-added distributor in the energy and industrial industries, in connection with its out-of-court restructuring, including a complete deleveraging of over $320 million in funded debt through a UCC Article 9 foreclosure and a $55 million new money equity rights offering to fund future business growth. The consummated transaction contemplates payment in full of all vendors, suppliers and other business partners and uninterrupted fulfillment of all customer obligations. 

Washington Prime Group Inc. — Represented Washington Prime Group Inc. and eighty-eight of its affiliates (“WPG”) in their prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. WPG owns, develops, and manages retail real estate across the United States, including enclosed and open air retail properties, with a portfolio comprising material interests in 102 shopping centers across the United States. As of the petition date, WPG had approximately $3.9 billion of funded debt.  

Central Security Group, Inc. — Represented Central Security Group, Inc., one of the nation’s largest providers of home and business security and automation, in an out-of-court debt-for-equity exchange that significantly improved the Company’s overall capital structure, eliminating approximately $250 million (more than 50%) of the Company’s funded debt and including a new $25 million revolving credit facility commitment. The out-of-court transaction was executed after the Company successfully solicited support from 100% of its first lien and second lien lenders. 

RGN-Group Holdings, LLC — Represented RGN-Group Holdings, LLC, and approximately 100 other debtor affiliates (Regus) in their Chapter 11 cases filed in the Bankruptcy Court for the District of Delaware. Regus offers a network of on-demand office and co-working spaces, and ancillary service and support, to a variety of clients across a host of industries in over 1,000 locations in the United States and Canada.

Represented a private agriculture company in connection with its out-of-court restructuring, including a $200 million convertible preferred equity investment and $100 million unsecured debt investment from a consortium of investors and a concurrent refinancing of its existing first lien credit facility.

California Pizza Kitchen, Inc. — Represented California Pizza Kitchen, Inc. (“CPK”) and its affiliates in their prearranged Chapter 11 restructuring in the United States Bankruptcy Court for the Southern District of Texas. CPK is an iconic restaurant brand that specializes in California-style pizza with locations internationally and throughout the United States. CPK’s plan received near unanimous approval from all voting classes and allowed CPK to emerge from Chapter 11 in November 2020, reducing its debt obligations by over $225 million.

APC Automotive Technologies Intermediate Holdings, LLC — Represented APC Automotive Technologies Intermediate Holdings, LLC and its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. APC is a leading supplier of undercar replacement parts in the automotive aftermarket and the only true full-line underbody supplier for brake, chassis, and exhaust replacement parts. Following entry into a restructuring support agreement with its key stakeholders, APC commenced its Chapter 11 cases with a prepackaged plan of reorganization that will reduce its more than $430 million in indebtedness by $290 million by exchanging its term loan debt for equity.

Neiman Marcus Group LTD LLC — Represented Neiman Marcus Group LTD LLC and affiliates in their pre-arranged Chapter 11 cases. The Company successfully completed its restructuring of over $5.5 billion of funded indebtedness in under five months. The restructuring plan was confirmed in September 2020, eliminated more than $4 billion of debt and more than $200 million of annual cash interest expense, and preserved more than 13,000 jobs. Neiman Marcus is the first retailer with over $5 billion of debt to reorganize under Chapter 11.

Destination Maternity Corporation — Representing Destination Maternity Corporation and certain of its affiliates, the largest national omni-channel maternity apparel retailer, in their Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. As of filing, Destination Maternity operated approximately 436 stores in the U.S. and Canada, 423 leased departments in big-box retailer stores, ten international franchise locations, and three e-commerce sites in the U.S. and Canada. The existing lenders in the Chapter 11 cases agreed to provide the company access to liquidity to fund the Chapter 11 cases and support the ongoing marketing process, which contemplates consummating a sale transaction before the end of 2019.