Carlson Travel, Inc. — Representation of Carlson Travel, Inc. and 37 of its affiliates (“CWT”) in the fastest cross-border prepackaged restructuring transaction to date. On November 12, 2021, the U.S. Bankruptcy Court for the Southern District of Texas entered an order confirming CWT’s prepackaged chapter 11 plan of reorganization, just 18 hours after commencing bankruptcy proceedings. CWT is a leader in business travel management with over 12,000 employees and operations in 140 countries and territories around the world. As a result of the restructuring, CWT eliminated almost $900 million of its $1.6 billion of debt, secured access to $775 million of exit facilities and a $350 million equity investment, and preserved the entirety of its worldwide employee base.
