Patrick J. Nash, Jr., P.C.

Debtor/Company Representations

• Representing Nautical Solutions, L.L.C. and its affiliate (together, “Nautical”) in their prepackaged Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Headquartered in Cut Off, Louisiana, Nautical operates a fleet of 29 offshore service vessels and is a leading provider of vessel support services in the Gulf of Mexico and in Guyana and Brazil. Nautical filed for Chapter 11 with a restructuring support agreement (“RSA”) that is widely supported by Nautical’s term lenders, noteholders, and equityholders. The RSA contemplates a refinancing of approximately $700 million of prepetition funded indebtedness, a significant enhancement of the underlying collateral package, and the sale of certain of Nautical’s vessels.
• Representing Celsius Network LLC and its affiliates in their Chapter 11 cases filed in the U.S. Bankruptcy Court for the Southern District of New York. Celsius is one of the largest and most sophisticated cryptocurrency-based finance platforms in the world and provides financial services to institutional, corporate, and retail clients across more than 100 countries.
• 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.
• Represented Edison Chouest affiliate Nautical Solutions on the restructuring of $700 million of funded indebtedness.
• Represented 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. 
• Represented Groupe Dynamite, a Canadian fashion retailer specializing in women’s apparel and accessories in its Chapter 15 proceedings in Delaware to recognize proceedings commenced in Canada under the Companies’ Creditors Arrangement Act (CCAA). Groupe Dynamite intends to use the insolvency process to redefine its retail operations to a new COVID-19 friendly model.
• Represented YRC Worldwide Inc., one of the largest trucking companies in the United States, in securing a $700 million loan from the U.S. Treasury in exchange for the government taking a 29.9% equity stake, under a provision of the $2.2 trillion CARES Act. The loan is the largest that the government has extended to a U.S. business outside of the airline industry and will be used to pay for deferred employee healthcare, pension costs and other contractual obligations, as well as to support essential capital investment.
• Represented Chesapeake Energy Corporation and 40 of its subsidiaries in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Chesapeake is a premier oil and natural gas exploration and production company with a high-quality, unconventional oil and natural gas asset portfolio, with substantial positions in top U.S. onshore plays. Chesapeake and its debtor-affiliates had more than $9 billion of funded debt obligations as of the commencement of their Chapter 11 cases. Prior to commencing the Chapter 11 cases, Chesapeake obtained commitments from certain of its secured creditors for over $4 billion of new capital, including a $925 million new money debtor-in-possession financing facility, a $600 million fully backstopped rights offering, and $2.5 billion of exit facilities as part of a comprehensive restructuring support agreement that would eliminate approximately $7 billion of Chesapeake’s funded debt obligations.
• Represented Akorn, Inc. and certain subsidiaries (“Akorn”), a specialty generic pharmaceuticals company with approximately $861.7 million of funded indebtedness, in their Chapter 11 cases filed in the United States District Court for the District of Delaware.
• Represented Bluestem Brands, Inc. and certain of its affiliates (“Bluestem”), a direct-to-consumer retailer that provides a wide array of merchandise through multiple channels under the Orchard and Northstar brand portfolios, in their Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. Bluestem filed with over $460 million in funded indebtedness and a stalking horse purchase agreement that contemplated a going-concern transaction.
• Represented One Call Corporation, a leader in ancillary services for the workers’ compensation industry, in a successful out-of-court recapitalization that reduced One Call’s debt through a consensual equitization of nearly $1 billion of junior debt, reduced its annual interest expense by approximately $90 million, and eliminated all near-term maturities. The restructuring was facilitated by a $375 million investment led by existing lenders KKR and GSO Capital Partners.
• Represented Specialty Retail Shops Holding Corp. and its subsidiaries (“Shopko”), a retailer of general merchandise, including clothing, accessories, electronics, home furnishings, as well as company-operated pharmacy and optical-services departments, in their Chapter 11 cases in the United States Bankruptcy Court for the District of Nebraska. At the time of its Chapter 11 filing, Shopko operated more than 360 stores in over 25 states. Shopko’s Chapter 11 cases are the largest ever filed in Nebraska.
• Represented EXCO Resources, Inc. in its Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of Texas. EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, acquisition, development and production company headquartered in Dallas, Texas with principal operations in Texas, North Louisiana and the Appalachia region. EXCO listed approximately $1.4 billion of funded debt obligations at the time of filing.
• Represented Global A&T Electronics, a Singapore-based semiconductor business, in connection with the restructuring of approximately $1.2 billion of indebtedness. In 2018, the Turnaround Management Association's Chicago/Midwest Chapter recognized the successful restructuring of Global A&T Electronics with its “Large Transaction of the Year Award.”
• Represented Avaya Inc., a leading multinational technology company and certain of its affiliates, in its Chapter 11 cases. In 2018, the Turnaround Management Association recognized the successful restructuring of Avaya Inc. with its “Mega Company Transaction of the Year Award.”
• Represented Goodman Networks Incorporated, a leading provider of field services to the satellite television and telecommunication industries, and its domestic subsidiaries in their prepackaged Chapter 11 cases.
• Represented Gordmans Stores, Inc., an apparel and home décor retailer with  106 stores in 62 markets and 22 states, in its Chapter 11 cases.
• Represented Algeco Scotsman, leading global business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management, in connection with certain transactions.
• Represented Horsehead Holding Corp., a U.S. producer of specialty zinc and zinc-based products and a leading recycler of metals-bearing waste, in its Chapter 11 restructuring.
• Represented GSE Environmental, Inc., the leading global manufacturer and marketer of geosynthetic lining solutions, as lead restructuring counsel in its prearranged Chapter 11 cases. 
• Represented Macau casino Studio City International in connection with funded debt liabilities of more than U.S. $3 billion.
• Represented Sorenson Communications, Inc., the leading provider of telecommunications technology and services for hearing impaired individuals, as lead restructuring counsel in the Company’s pre-packaged Chapter 11 case.
• Represented EveryWare Global, Inc. and its affiliates, leading global marketers of tabletop and food preparation products for the consumer, foodservice, and specialty markets, in their prepackaged Chapter 11 restructuring involving approximately $300 million in funded debt.
• Represented Edmentum, a leading provider of proven online learning software and solutions whose primary customers include over 8,000 school districts, in the out-of-court restructuring of approximately $370 million of first lien and second lien debt.
• Represented Hawker Beechcraft Inc., a world-leading manufacturer of business, special mission, light attack and trainer aircraft, as co-lead counsel in its Chapter 11 restructuring case. 
• Represented Tronox Incorporated and its affiliates, a leading manufacturer and marketer of titanium dioxide pigment, electrolytics and specialty chemicals, as co-lead counsel in their Chapter 11 cases.
• Represented AMF Bowling, the world’s largest owner and operator of bowling centers and a leader in the bowling industry, as lead counsel in connection with its Chapter 11 case.
• Represented U.S. Concrete, Inc. and its affiliates as lead counsel in their Chapter 11 cases.
• Represented VeraSun Energy Corporation as lead counsel in its Chapter 11 reorganization.
• Represented Financial Guaranty Insurance Company, a multibillion bond insurer, as co-lead restructuring counsel.
• Represented Meridian Technologies, Inc. as lead counsel in its successful cross-border restructuring.
• Represented The Clare at Water Tower, a non-profit, senior living retirement community, as lead counsel in an out-of-court balance sheet restructuring.
• Represented Krispy Kreme Corporation in the restructuring of its troubled franchisees.
• Represented Service Merchandise Company in its Chapter 11 restructuring.

Distressed Investors/Distressed Purchasers

• Represented an ad hoc group of unsecured bondholders as plan sponsors in connection with the pending Chapter 11 case of Talen Energy Supply LLC.  
• Represented an ad hoc group of European unsecured noteholders of Hertz Corporation, a leading provider of vehicle rentals around the world with more than 10,000 locations across North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East and New Zealand, in connection with a successful waiver and consent that avoided the need for Hertz’s European subsidiaries to file insolvency proceedings, as well as Hertz’s pending Chapter 11 restructuring, which addressed approximately $19.1 billion in funded debt obligations and other liabilities.
• Represented an ad hoc group of holders of preferred equity interests in Spanish Broadcasting Company in connection with that company's out-of-court restructuring.
• Represented Oaktree Capital Management’s Global Principal group as plan sponsor and debtor-in-possession lender to Quiksilver Inc. in that company's Chapter 11 reorganization.
• Represented Versa Capital Management in its recently completed out-of-court acquisition of oilfield services provider U.S. Shale Solutions, Inc.
• Represented an ad hoc committee of second lien lenders/plan sponsors in the prepackaged Chapter 11 case of MachGen LLC.
• Represented an ad hoc committee of senior secured noteholders as lead counsel in the Chapter 11 cases of Constar International Holdings, LLC.
• Regularly represents Hilco Global and its affiliates in various transactions.
• Represented Sun Capital in multiple acquisitions.
• Represented Angelo Gordon as lead counsel in multiple transactions.
• Represented TransWorld Entertainment, Inc. in its acquisitions of Musicland, Wherehouse Entertainment and Value Music.

Lender Representations

• Represented an ad hoc group of first lien lenders to DiTech Holdings in its Chapter 11 case.
• Represented Oaktree Capital Management and KKR Credit Advisors as first lien lenders in an out-of-court exchange transaction. Proserv, based in Aberdeen, Scotland, is an energy services company offering marine technology services across the full life-of-field to its global customers. The transaction resulted in the consensual equitization of more than $500 million in funded debt and a $50 million new capital injection.
• Represented holders of DRH notes in Ocean Rig UDW’s restructuring proceedings in the Cayman Islands and the United States Bankruptcy Court for the Southern District of New York.
• Represented an ad hoc group of term loan lenders to Walter Investment Management in connection with that company’s on-going, out-of-court restructuring.
• Represented an ad hoc group of bondholders to China Fishery in connection with that company’s Chapter 11 cases.
• Represented an ad hoc committee of senior secured noteholders as co-lead counsel in the Chapter 11 cases of TerreStar.
• Represented an ad hoc committee of lenders that included Angelo Gordon, GSO Capital Partners and Aladdin Capital as lead counsel in acquisition of United Site Services.
• Represented an ad hoc group of first-lien lenders in the Chapter 11 cases of Altegrity, Inc. and its affiliates.
• Represented the second lien lenders to Cal Dive International Inc. and its affiliates in connection with their Chapter 11 cases.
• Represented an ad hoc group of first-lien lenders under Ocwen Financial Corp.’s $1.3 billion senior secured term loan facility.
• Represented Morgan Stanley as debtor-in-possession lender to Bally’s Total Fitness.