Practice

Financial Restructuring

Practical And Sophisticated Counsel In Complex Proceedings

Clients in need of experienced restructuring advice turn to the attorneys at Munger, Tolles & Olson. Our firm is frequently called upon for practical and sophisticated counsel in complex bankruptcy proceedings nationwide and is adept at handling the challenges facing companies and their key constituents in distressed financial situations.

Services

Our practice includes:

Restructuring and Bankruptcy

  • Negotiating and executing restructuring transactions out of court or in court through chapter 11 or 7.

Asset Sales

  • Representing funds, investors, debtors and others as buyers and sellers of assets in and out of bankruptcy

Litigation

  • Representing estates and third parties in lawsuits involving fiduciary duties, fraudulent transfers and preferences, as well as bankruptcy case and plan related litigation.

Fiduciary Duties

  • Advising boards, special committees and management on fiduciary duties in the context of financial restructuring and bankruptcy.

Financing

  • Advising borrowers and lenders on secured and unsecured financings, negotiating with lenders for forbearance, amendment and standstill agreements, debt-for-equity and other exchanges of interests, and debtor-in-possession financing.

Clients

Munger, Tolles & Olson’s engagements have included debtors, boards and independent directors, official committees, secured and unsecured creditors, equity holders, stalking horse buyers and plan sponsors across the spectrum of finance and restructuring needs.

Utility and Energy

  • Edison International /Southern California Edison
  • Pacific Gas & Electric
  • GenOn Mid-Atlantic
  • Berry Petroleum
  • Energy Future Holdings

Technology, Entertainment, Media and Culture

  • Google
  • iHeartMedia
  • Intel
  • Owners of Station Casinos

Retailers

  • Costco
  • Founders of Forever 21
  • Toys ‘R’ Us
  • NineWest
  • Gymboree
  • Payless Shoes

Other Industries

  • Whirlpool
  • J. Paul Getty Trust
  • Caruso Affiliated Holdings
  • Bolivarian Republic of Venezuela

Financial Services / Funds

  • Bank of America
  • Berkshire Hathaway
  • Fortress Investment Group
  • Merrill Lynch
  • EagleTree Capital, LP (formerly Wasserstein Partners, LP)
  • Term Lenders to General Motors
  • Silver Point Capital
  • Nexus Capital Management
  • The Yucaipa Companies
  • Oaktree Capital
  • Panning Capital
  • Monarch Capital

Related Practices

Team Leaders

Seth Goldman
Thomas B. Walper

Experience

Recent public engagements include the following representations:

  • Bank of America in the Ditech Financial bankruptcy and asset sale and settlement of claims between the companies.
  • Berkshire Hathaway in various restructuring matters including as a bondholder and asset buyer in the Residential Capital bankruptcy, the plan sponsorship investment in USG and the acquisition of Fruit of the Loom, FINOVA and Oakwood Homes.
  • Disney, Lucasfilm, Fox, Warner Bros., Marvel, New Line and Turner Entertainment in successful resolution of claims in VidAngel’s bankruptcy.
  • GenOn Mid-Atlantic, an electric power generation and distribution company, in its out of court restructuring of leveraged lease coal plants.
  • iHeartMedia’s independent directors in the largest US bankruptcy filing in 2018.
  • Intel in a number of recent matters, typically pieces of bankruptcy litigation in which the company has an interest.
  • Nexus Capital Management, a California-based private equity firm, in its acquisition out of bankruptcy of FTD Companies’ florist network in North America and Latin America.
  • Pacific Gas & Electric and PG&E Corporation in their bankruptcy reorganization cases with respect to certain matters including regulatory matters, power purchase agreements and wildfire claims.
  • Lenders in the Petters Bankruptcy Cases, a group of syndicated lenders to Polaroid Corp. in fraudulent transfer actions brought by Ritchie Capital related to the Thomas Petters Ponzi scheme.
  • Silver Point Finance, LLC, as agent, and secured lenders to Freedom Communications in its restructuring.
  • Southern California Edison in various matters, including the first municipal bankruptcy of community choice aggregator Western Community Energy.
  • TCEH, an energy company focused on the competitive energy and power generation markets, in the restructuring of Energy Future Holdings Corp., a privately held company with a portfolio of competitive and regulated energy companies.
  • Whirlpool, the world’s largest home appliance manufacturer, as a creditor to Sears, Roebuck and Company in its Chapter 11 bankruptcy.
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