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.
At Home Group, Inc. — Representation of At Home Group, Inc. and 41 of its affiliates (At Home) in their Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. At Home is a nation-wide home décor and furnishings brand with 260 retail locations and a robust e-commerce website. At Home commenced its Chapter 11 cases with support of approximately 95% of its capital structure to equitize its approximately $1.98 billion in funded debt obligations, and with commitments from its existing lenders for a $200 million new-money debtor-in-possession financing facility to fund the bankruptcy and provide continued liquidity upon emergence. At Home is using its Chapter 11 cases to exit unprofitable store locations and implement a comprehensive restructuring to emerge as a de-levered go-forward business.
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.
