Francis Petrie

McDermott International, Inc. — Representing McDermott International, Inc. and 225 of its subsidiaries and affiliates, including 107 foreign domiciled entities, in their prepackaged Chapter 11 cases in the U.S. Bankruptcy Court of the Southern District of Texas. McDermott is a premier, global upstream and downstream engineering, procurement, construction, and installation company and employs over 42,000 individuals across 54 countries and six continents. McDermott’s prepackaged Chapter 11 cases contemplate a fully consensual restructuring transaction to be confirmed in less than 60 days that will equitize nearly all of McDermott's funded debt, eliminating over $4.6 billion of debt, and an auction process to sell McDermott’s Lummus technology business supported by a “stalking horse” bid with a base purchase price of $2.725 billion.

Clover Technologies Group, LLC — Representing Clover Technologies Group, LLC, a provider of aftermarket management services for mobile device carriers and historically operated as a collector and remanufacturer of printer cartridges, in connection with its restructuring of $650 million of term loan indebtedness. As part of its comprehensive restructuring, Clover sold its printer cartridge remanufacturing business for over $200 million, acquired an additional company for synergies with the remaining mobile device business, and entered into a restructuring support agreement for the equitization of the vast majority of the term loan indebtedness.

Vanguard Natural Resources Inc. — Representing Vanguard Natural Resources Inc. and its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court of the Southern District of Texas. Vanguard is an independent exploration and production company focused on the production and development of oil and natural gas properties in the United States with operations in the Gulf Coast, Permian and Anadarko Basins. Vanguard had approximately $850 million in debt at the time of filing and obtained a commitment for a $130 million debtor-in-possession financing facility, which included $65 million in new money.

Windstream Holdings, Inc. — Representing Windstream Holdings, Inc., and its debtor subsidiaries in their Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of New York. Windstream is a leading provider of advanced network communications, technology, broadband, entertainment and security solutions to consumers and small businesses in 18 states. Windstream commenced its Chapter 11 cases with $5.6 billion in prepetition funded debt and a fully committed $1 billion debtor-in-possession credit facility to support the Debtors’ businesses throughout Chapter 11.

Gastar Exploration Inc. — Represented Gastar Exploration Inc., and its wholly-owned subsidiary Northwest Property Ventures LLC, in their prepackaged Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of Texas. Gastar is a publicly-traded oil and natural gas exploration and production company headquartered in Houston, Texas with assets concentrated in the STACK shale play in Oklahoma. The company’s prepackaged restructuring proposes to address nearly $600 million in funded-debt and preferred equity obligations, including the elimination of more than $300 million in funded-debt and preferred equity obligations, and provides for $100 million in committed financing to fund the Debtors’ business in and upon emergence from Chapter 11.  

Mission Coal Company, LLC — Representing Mission Coal Company, LLC and its affiliates in their Chapter 11 cases in the United States Bankruptcy Court for the Northern District of Alabama. The company was headquartered in Kingsport, Tennessee with coal mining operations in West Virginia and Alabama. Mission Coal entered Chapter 11 to complete a sale process and, after an auction, received winning bids for three of its metallurgical coal mines. The company also successfully obtained court approval to modify its collective bargaining agreements through sections 1113 and 1114. After a highly contested plan and sale process, Mission Coal obtained the support of its DIP Lenders, reached a settlement with the unsecured creditors committee, and as a result, in May 2019 the Court simultaneously approved the sales and confirmed the plan.

Cenveo, Inc. — Representing Cenveo, Inc. and its domestic subsidiaries in their prearranged Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of New York. Cenveo, Inc. is a leading global provider of print and related resources headquartered in Stamford, Connecticut with a worldwide distribution platform. Cenveo commenced its Chapter 11 restructuring in connection with its entry into a Restructuring Support Agreement with noteholders representing over 50% of its first lien debt and related agreements with certain of its prepetition secured creditors to provide up to $290 million in debtor-in-possession financing. These agreements permitted Cenveo to expeditiously complete its reorganization.

EXCO Resources, Inc. — Representing 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.

Avaya Inc. — Representing Avaya Inc. and certain of its affiliates in their Chapter 11 cases. Avaya is a leading multinational technology company that specializes in telephony, wireless data communications, customer relationship management software, and networking. Avaya and its debtor-affiliates had more than $6 billion in funded debt obligations as of the commencement of their Chapter 11 cases, with annual revenues in excess of $3 billion. In 2018, the Turnaround Management Association recognized the successful restructuring of Avaya Inc. with its “Mega Company Transaction of the Year Award.”

Summer Associate, Milbank, Tweed, Hadley & McCloy LLP

Summer Law Clerk, Alcoa, Inc.

Firm Attorney Support Team, Latham & Watkins LLP