Catherine Lee

SiO2 Medical Products, Inc. ― Representing SiO2 Medical Products, Inc. and certain of its affiliates in their prearranged Chapter 11 cases filed in the U.S. Bankruptcy Court for the District of Delaware. SiO2 is a material life sciences company that holds 245 patents, including its flagship technology that combines the best of glass and polymers without the drawbacks of either. SiO2 filed for Chapter 11 with a restructuring support agreement supported by 100% of its first lien lenders. The restructuring support agreement contemplates a $60 million new-money postpetition financing facility and equitization of the first lien lender’s DIP claims and first lien claims in exchange for 100% of the equity of the reorganized company, subject to a marketing process seeking higher and better proposals. The proposed restructuring will reduce the Company’s secured debt by nearly $250 million.

Nielsen & Bainbridge, LLC ― Representation of Nielsen & Bainbridge, LLC (d/b/a NBG Home) and 13 of its affiliates in their prearranged Chapter 11 cases filed in the U.S. Bankruptcy Court for the Southern District of Texas. NBG Home is a trusted wholesale supplier of home décor and other home goods to prominent brick-and-mortar and online retailers such as Walmart, Target, and Amazon. NBG Home filed for Chapter 11 with a restructuring support agreement in place, supported by the majority of its secured creditors, that contemplates a $60 million DIP facility and an exchange of 100% of the equity of the reorganized company, subject to higher and better proposals. The proposed restructuring will preserve over 700 jobs and address nearly $400 million of secured debt.

Invacare Corporation ― Representation of Invacare Corporation and its subsidiaries in their prearranged Chapter 11 cases filed in the U.S. Bankruptcy Court for the Southern District of Texas. Invacare, a manufacturer and distributor of innovative medical equipment for use in home healthcare, retail and extended care markets worldwide, emerged from bankruptcy on May 5, 2023, just over three months after filing for Chapter 11. Through the Chapter 11 cases, Invacare was able to discharge approximately $300 million in funded-debt obligations and unsecured liabilities, raise $75 million of new equity capital, secure $40 million of exit financing, and position its business for long-term success.

Altera Infrastructure L.P. ― Representation of Altera Infrastructure L.P. and certain of its affiliates (“Altera”), a leading international midstream services provider to the oil and gas industry, in pre-arranged Chapter 11 cases filed in the Bankruptcy Court for the Southern District of Texas. Operating a fleet of 41 vessels, Altera supplies critical infrastructure assets to its customers primarily in offshore regions of the North Sea, Brazil, and the East Coast of Canada. Altera filed for Chapter 11 with a restructuring support agreement (“RSA”) that is widely supported by Altera’s equity sponsor, Brookfield, and a super-majority of its bank lenders. The RSA contemplates, among other things, addressing more than $1 billion of secured and unsecured holding company debt, $400 million of preferred equity, and $550 million of secured asset-level bank debt, and a comprehensive reprofiling of Altera’s bank loan facilities to better align cash flow with debt service obligations.

Service King Paint & Body LLC ― Representation of Service King Paint & Body LLC, the third largest operator of auto body collision repair facilities in the U.S. (operating over 300 facilities across 24 states and Washington D.C.), and certain of its affiliates in an out-of-court restructuring transaction involving the raise of $200 million in new capital, reduction of $500 million in net indebtedness, and extension of remaining existing funded debt maturities. The transaction was supported by substantially all of Service King’s funded debtholders in addition to the company’s equity sponsors.

Riverbed Technology, Inc. ― Representation of Riverbed Technology, Inc. and three of its affiliates in their prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. Riverbed is a leading provider of IT optimization products and services, including a suite of best-in-class network visibility, management and performance enhancement solutions to many of the world’s largest organizations. Riverbed commenced its Chapter 11 cases with a fully solicited plan and the support of 100% of its first lien and second lien lenders. Pursuant to the Chapter 11 plan, Riverbed will eliminate approximately $1.1 billion of its funded debt and will receive $100 million in new capital. 

Carlson Travel, Inc. — Representation of Carlson Travel, Inc. and 37 of its affiliates (“CWT”) in the fastest cross-border prepackaged restructuring transaction to date. On November 12, 2021, the U.S. Bankruptcy Court for the Southern District of Texas entered an order confirming CWT’s prepackaged Chapter 11 plan of reorganization, just 18 hours after commencing bankruptcy proceedings. CWT is a leader in business travel management with over 12,000 employees and operations in 140 countries and territories around the world. As a result of the restructuring, CWT eliminated almost $900 million of its $1.6 billion of debt, secured access to $775 million of exit facilities and a $350 million equity investment, and preserved the entirety of its worldwide employee base.

Just Energy Group Inc. — Represented Just Energy Group Inc., a Mississauga, Ontario-based leading retail consumer company specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable energy options, in its Chapter 15 proceedings in the United States to recognize proceedings commenced in Canada under the Companies’ Creditors Arrangement Act (CCAA). Prior to filing for bankruptcy, Just Energy Group Inc. was severely adversely impacted by the unprecedented winter storm in Texas in February 2021. The insolvency proceedings successfully culminated in a Canadian-court approved and United States-court recognized sale transaction that preserved operations, hundreds of jobs, critical regulatory approvals, and key commodity supplier relationships.