Jacob B. Ruby

WeWork Inc. (NYSE: WE) and its subsidiaries in connection with a comprehensive restructuring of its capital structure through a series of liability management transactions with an ad hoc group of noteholders representing more than 60% of the company’s public notes, a third-party investor and affiliates of SoftBank Group Corp., which will be implemented through certain exchanges of $1.2 billion of WeWork’s existing unsecured notes for new debt and equity securities and the issuance of $675 million of new secured notes for cash.

Envision Healthcare Corporation — Represented Envision Healthcare Corporation, a leading provider of physician staffing services and operator of ambulatory surgical centers, in first-of-their kind liability management transactions. The transactions injected $1.1 billion of new money to Envision’s balance sheet and de-leveraged more than $1.9 billion of secured and unsecured debt obligations.

Nielsen & Bainbridge, LLC — Representation of Nielsen & Bainbridge, LLC (d/b/a NBG Home) and 13 of its affiliates in connection with a $60 million DIP facility in Chapter 11 cases filed in the U.S. Bankruptcy Court for the Southern District of Texas.

Representation of a private equity backed portfolio company in connection with a $60 million financing facility secured by existing real estate.

Representation of a private equity backed portfolio company in connection with a $50 million structurally priming financing facility secured by the assets of certain non-U.S. subsidiaries.

Representation of a private equity backed portfolio company in connection with a $7.5 million structurally priming financing facility secured by the assets of certain non-guarantor subsidiaries.

Representation of a private equity backed portfolio company in connection with a $15 million super-senior financing facility.

WeWork Companies LLC, a subsidiary of WeWork Inc. (NYSE: WE), in an amendment and extension of its letter of credit facility to increase the junior letter of credit commitments by $120 million, thereby increasing the aggregate junior tranche reimbursement obligations to $470 million.

WeWork Companies LLC, a subsidiary of WeWork Inc. (NYSE: WE), a global flexible-space provider, in connection with an amendment and extension of the senior tranche of its aggregate $1.45 billion letter of credit facility.

WeWork Inc. (NYSE: WE) in the issuance by its subsidiaries of $250 million in aggregate principal amount of senior secured notes.

Various private equity sponsors and portfolio companies in connection with non-public liability management transactions.

Frontera Generation Holdings LLC — Represented Frontera Generation Holdings LLC and five of its affiliates in their prearranged Chapter 11 cases filed in the United States Bankruptcy Court for the Southern District of Texas. Frontera owns and operates the only U.S.-based power plant that sells all of its 526MW/year power production to the Mexican wholesale market. The restructuring, which had nearly-universal lender support, enabled Frontera to obtain $70 million of new liquidity through a DIP-to-exit facility, slash more than $850 million of its $944 million debt load, and pay its trade claims in full.

China Fishery ― Representation of an ad hoc committee of holders of the $300 million notes due 2019 issued by CFG Investment S.A.C. in connection with the resolution of their claims against the China Fishery group of companies. 

Selecta Group B.V — Representing Selecta Group B.V (“Selecta”), which employs 10,000 employees, is the world’s largest provider of vending machines, coffee and convenience food distribution in over 475,000 points of service in 16 foreign countries. The Chapter 15 proceeding filed in the Southern District of Texas is part of a comprehensive restructuring strategy to deleverage Selecta’s balance sheet, increase liquidity, extend maturity dates on its revolver and its 3 tranches of senior secured notes and to change the governing law for its funded debt obligations from New York to UK law. The overall restructure involves out-of-court arrangements with the revolving credit facility lenders and liquidity facility lenders, a new equity investment by the private equity owner, a formal Scheme of Arrangement in the UK and a US Chapter 15 proceeding to implement the foreign proceeding in the United States.

Tailored Brands, Inc. — Representing Tailored Brands, Inc. and its 17 affiliates in their prearranged Chapter 11 cases. Tailored Brands, a leading specialty retailer of men’s tailored clothing and the largest men’s formalwear provider in the United States and Canada, operates approximately 1,400 stores and employs over 18,000 people across its omni-channel network of five retail brands (Men’s Wearhouse, Men’s Wearhouse and Tux, Jos. A. Bank, K&G, and Moores). Tailored Brands commenced its Chapter 11 cases with broad support from its secured lenders, evidenced by a Restructuring Support Agreement that contemplates a reduction in funded indebtedness by $455 million to $555 million, a $500 million DIP ABL facility to finance the Chapter 11 cases, and committed exit financing that will ensure the company has sufficient liquidity to support its operations following emergence from Chapter 11.

Jason Industries, Inc. — Representing Jason Industries, Inc. and its subsidiaries in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York. Jason is a publicly-traded global industrial manufacturing company that provides mission critical components and manufacturing solutions—including brushes, polishing buffs, compounds, and seating products—to customers across a wide range of end markets, industries, and geographies. On June 24, 2020, Jason solicited and filed its prepackaged Chapter 11 cases with the support of over 87% of its first lien lenders under a restructuring support agreement. If approved, the prepackaged plan will deleverage Jason’s balance sheet by approximately $250 million and leave general unsecured claims unimpaired.

Bluestem Brands — Representing 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 contemplates a going-concern transaction.

Forever 21 Inc. — Representing Forever 21 Inc. and its affiliates in their Chapter 11 restructuring in the U.S. Bankruptcy Court for the District of Delaware. Based in Los Angeles, California, Forever 21 is a fast-fashion retailer specializing in women’s and men’s fashion, jewelry and accessories with over 750 stores globally.