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.
JOANN Inc. — Representation of JOANN Inc. and certain of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. JOANN was a leading national retailer in sewing, fabrics, and arts and crafts headquartered in Hudson, Ohio with approximately 800 stores across the United States. Prior to commencing its Chapter 11 cases, JOANN had approximately $615.7 million in funded debt, across a term loan and asset-based lending facility. Through its Chapter 11 sale process, Joann sold its assets to GA Joann Retail Partnership LLC, an entity formed by Great American and the company’s prepetition term lenders, and the proceeds of which were used to pay off the company's prepetition ABL and FILO facilities and a $105 million credit bid of the prepetition term loan facility. Joann confirmed its consensual Chapter 11 plan on July 10, 2025, which went effective on July 16, 2025.
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.
