Tricia Schwallier Collins

Celsius Network LLC — Represented 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.

Carestream Health, Inc. — Represented 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.

Team, Inc. ― Represented Team, Inc. (NYSE: TISI), a global provider of integrated, digitally enabled asset performance assurance and optimization solutions, regarding ongoing financing restructuring efforts and strategic review of its capital structure, including Team’s entry into a $50 million delayed draw subordinated term loan facility. 

Riverbed Technology, Inc. ― 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. 

Associated Materials ― Represented Associated Materials, a leading North American manufacturer and distributor of exterior building products, in its successful out-of-court comprehensive balance sheet recapitalization. Through the recapitalization transactions, Associated Materials converted more than 99% of its senior secured notes into substantially all of the common equity of a new parent company, and all of the company’s prior common and preferred equity were extinguished, with holders of the preferred equity receiving a portion of the common equity in the new parent company. In connection with the recapitalization transactions, the company amended and extended its ABL facility and also issued $250 million of new senior secured notes. The recapitalization transactions significantly de-levered the company’s balance sheet to around 2x adjusted EBITDA and expanded the company’s total liquidity.

Bluestem Brands ― 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 contemplates a going-concern transaction.

Murray Energy Holdings Co. ― Represented Murray Energy Holdings Co. and certain of its subsidiaries in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Ohio. Murray is the largest privately-owned coal company in the United States, headquartered in St. Clairsville, Ohio, and has operations primarily in Ohio, West Virginia, Kentucky, Alabama, Illinois, Utah, and Colombia, South America. Murray employs nearly 5,500 people, including approximately 2,400 active union members. Murray entered Chapter 11 with approximately $2.7 billion in prepetition funded debt and more than $8 billion in actual or potential pension and employee benefit obligations.

Aegean Marine Petroleum Network Inc. ― Represented Aegean Marine Petroleum Network Inc. and certain subsidiaries (“Aegean”), a leading international marine fuel logistics company with approximately $900 million of funded indebtedness, in their Chapter 11 cases filed in the United States Bankruptcy Court for the Southern District of New York. Aegean operates in more than 20 countries worldwide with headquarters in Athens, Greece and a corporate office in New York, New York. In connection with its restructuring, Aegean has reached agreements with certain key stakeholders to deleverage its balance sheet by more than $700 million and continue as a going concern.

iHeartMedia, Inc. ― Represented iHeartMedia, Inc. and certain subsidiaries, one of the world’s leading global multi-platform media, entertainment, and data companies, in their Chapter 11 restructuring. iHeart is the largest radio broadcaster in the United States and specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local and national communities. The Company had consolidated debts of over $20 billion and the Chapter 11 cases, which are the largest of 2018 based on outstanding debt, restructured over $16 billion of that debt. In connection with its restructuring, iHeart reached an agreement with holders of more than $11 billion of its debt and its financial sponsors, reflecting widespread support across the capital structure, regarding a comprehensive balance sheet restructuring that reduced iHeartMedia’s debt by more than $10 billion.

GST Autoleather, Inc. ― Represented GST Autoleather, Inc., a supplier of leather upholstery to nearly every major automaker, in its Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. The Company obtained a commitment from its senior secured lenders for a $40 million debtor-in-possession facility, the proceeds of which will be used to fund ongoing business operations while pursuing a court-supervised going concern sale. GST has operations in North America, China, South Korea, Europe, and South Africa.

Técnicas Marítimas Avanzadas, S.A. de C.V. ― Represented Técnicas Marítimas Avanzadas, S.A. de C.V., a maritime logistics services company based in Monterrey, Mexico, and certain of its affiliates (collectively, “TMA”), in a successful out-of-court restructuring that deleveraged TMA’s balance sheet and provided TMA with critical liquidity. Under the terms of the consensual restructuring, TMA refinanced its secured indebtedness, obtained a new revolving credit facility, and provided its existing equity sponsor with a significant and controlling stake in the reorganized company.

Mood Media ― Represented Mood Media, a leading global provider of in-store audio, visual and other forms of media and marketing services in North America and internationally across a broad range of industries including retail, food retail, car dealerships, financial services and hospitality, in its Chapter 15 case in the United States Bankruptcy Court for the Southern District of New York.

Sugar Felsenthal Grais & Helsinger LLP, 2016–2017