Kate Halkias

Republic National Distributing Company, LLC — Representation of Republic National Distributing Company, LLC and 17 of its subsidiaries (RNDC), in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. RNDC was, at its height, the second largest alcohol beverage distributor in the nation, with relationships with over 2,000 suppliers and 170,000 customers across its expansive nationwide distribution network. In advance of the Chapter 11 filing, Kirkland advised RNDC on the consummation of multiple going-concern sale transactions, which generated more than $1.1 billion in aggregate sale proceeds. RNDC commenced their Chapter 11 cases with a $250 million in debtor-in-possession financing facility to pursue additional value-maximizing sale transactions and effectuate an orderly wind-down of the business.

Grupo Antolin — Representation of Grupo Antolin Irausa, S.A.U., an automotive interior solutions provider, and 35 of its affiliates in connection with the commencement of their Chapter 15 cases in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 15 proceedings seek to recognize a Spanish restructuring plan supported by a majority of its bank lender group to address approximately €1.25 billion of funded debt, over the objection of their bondholders.

Multi-Color Corporation — Representation of Multi-Color Corporation and 55 of its affiliates (collectively, MCC) in their prepackaged Chapter 11 proceedings filed in the United States Bankruptcy Court for the District of New Jersey. MCC is a leading global provider of prime label solutions, with more than 12,500 employees worldwide supporting prominent brands across end categories, including food and beverage, wine and spirits, home and personal care, and healthcare, among others. MCC entered Chapter 11 with the support of its key stakeholders, including an ad hoc group of secured first lien lenders holding more than 72% of first lien claims, and its equity owner, creditor and plan sponsor, CD&R. MCC’s confirmed Chapter 11 plan reflects a global settlement among MCC’s major constituencies and reduces net debt by nearly $4 billion. MCC will receive an $889 million investment from the company’s equity sponsor and other secured lenders. The plan leaves general unsecured claims unimpaired.

National Resilience — Representation of National Resilience, a leading a North American contract development and manufacturing organization (CDMO), in a comprehensive out-of-court restructuring of certain lease obligations and a corresponding capital raise of $825 million of new money from Oak Hill Advisors and its co-investors. The comprehensive transactions provide National Resilience with capital to pay down existing debt and fund capital expenditures to build out manufacturing capabilities to support its diverse customer base.

Sunnova Energy International Inc. — Representation of Sunnova Energy International Inc. (NYSE: NOVA) and over 275 affiliates in their comprehensive restructuring of approximately $9 billion of corporate debt and securitized obligations. Sunnova is among the nation’s largest installers and servicers of residential solar systems, with approximately 440,000 residential solar customers across the country and in Puerto Rico. Sunnova also manages and services 26 securitization trusts holding $7 billion of homeowner contracts and leases. Certain of Sunnova’s corporate entities are utilizing Chapter 11 to facilitate value-maximizing transactions as part of their enterprise-wide restructuring.

American Tire Distributors, Inc. (2024) — Representation of American Tire Distributors, Inc. and 12 of its debtor affiliates (ATD) in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. ATD operates the largest distribution network of replacement tires across North America. Prior to commencing its Chapter 11 cases, ATD had approximately $1.9 billion in funded debt, across a term loan and asset-based lending facility. ATD executed an RSA with a group of lenders holding more than 90% of their term loan and 100% of their FILO facility and commitments from the same group of lenders as well as their ABL lenders to provide debtor-in-possession financing, which included $250 million of new money commitments.

SunPower Corporation — Representation of SunPower Corporation and certain of its subsidiaries (SunPower) in their Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware.  SunPower is a leading provider of residential solar energy solutions throughout North America, having fitted over half a million homes with its solar energy systems. At the time of the Chapter 11 filing, the SunPower enterprise had over $2 billion of total indebtedness. Prior to filing its Chapter 11 cases, SunPower entered into a stalking horse purchase agreement that contemplates a going-concern sale of its key businesses.

Prima® Wawona — Representation of Prima® Wawona and certain of its affiliates (Prima®), which was, at the time, the largest stone fruit producer in the United States, in their Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. Prima®, then the largest producer of stone fruit (i.e., peaches, plums, nectarines, and apricots) in the United States, entered Chapter 11 in October 2023 to address its approximately $1 billion total debt load. Pursuant to Prima®’s confirmed Chapter 11 plan, Prima® consummated an equitization transaction that transitioned ownership of Prima®’s real estate owning entity to its “PropCo” secured lenders and the ownership of its operating assets to a liquidating trust for the benefit of its “OpCo” secured lenders, and effectuated a global settlement among Prima®’s lenders, creditors and former equity stakeholders.

WeWork, Inc. — Representation of WeWork, Inc. and its debtor affiliates — the leading global flexible space provider — in their Chapter 11 cases in the United States Bankruptcy Court for the District of New Jersey. With approximately $17 billion in funded debt and lease obligations at the time of filing and posing complex, novel issues of international, regulatory and foreign law, WeWork, with over 500 entities, is one of the largest jointly administered Chapter 11 cases in history. Through its Chapter 11 cases, WeWork was able to equitize all $4.3 billion of its funded indebtedness, right size its lease portfolio and reduce future obligations by $11 billion as the result of a pioneering strategy for rent negotiations, facilitate a global settlement with numerous stakeholders and navigate complex cross-border issues.