BayMark Health Services, Inc. — Representation of BayMark Health Services, Inc. and over 100 of its affiliates (BayMark) in a comprehensive and fully consensual out-of-court restructuring that deleveraged its balance sheet obligations by approximately $466 million and provided new-money financing. BayMark is a leader in addiction treatment and counseling services with over 70,000 patients treated daily for opioid, alcohol and other use disorders across the United States and Canada. The fully consensual restructuring transaction transitioned ownership to BayMark’s lenders and ensures that patient care is undisrupted.
Alkegen — Representation of ASP Unifrax Holdings, Inc. and 62 of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Northern District of Texas. Alkegen is a global manufacturer of high performance thermal management, filtration and battery fire protection solutions under a variety of product families. Alkegen commenced Chapter 11 to implement a comprehensive prepackaged restructuring designed to delever its balance sheet by $3.1 billion of its approximately $3.4 billion of funded debt obligations.
Nine Energy Service, Inc. — Representation of Nine Energy Service, Inc. and nine of its affiliates (Nine Energy) on its voluntary prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Nine Energy is an oilfield services business that supplies well completion solutions for unconventional oil and gas resource extraction and development across North America and abroad. Confirmation of Nine Energy’s plan eliminated over $320 million of funded-debt obligations, left general unsecured creditors unimpaired, and provided the company with access to a new, more flexible asset-based financing facility.
