Financial Restructuring

Seth Goldman
Thomas B. Walper

Experience

Recent public engagements include the following representations:

• Alter Domus, the agent for certain lenders under an asset-backed credit agreement with Revlon Inc. in connection with Revlon’s bankruptcy cases and use of cash collateral.
• 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.
• Berry Petroleum, in its bankruptcy reorganization and separation from Linn Energy.
• Bolivarian Republic of Venezuela in an ongoing case with respect to the enforcement of a $1.4 billion judgment obtained by Crystallex related to the Maduro government’s nationalization of assets in Venezuela.
• Caruso Affiliated Holdings in connection with various theatre chains.
• Costco, in connection with canned tuna fish price-fixing claims against, among others, Bumble Bee, which sold its assets in a section 363 sale in bankruptcy court.
• Disney, Lucasfilm, Fox, Warner Bros., Marvel, New Line and Turner Entertainment in successful resolution of claims in VidAngel’s bankruptcy.
• Envoy Solutions, LLC, in its sponsorship of a plan of reorganization for manufacturing company GPMI, Co.
• GenOn Mid-Atlantic, an electric power generation and distribution company, in its out-of-court restructuring of leveraged lease coal plants.
• Google, in pursuing judgment and indemnity against Anthony Levandowski and Uber related to trade secret claims regarding auto driving technology.
• iHeartMedia’s independent directors in the largest U.S. bankruptcy filing in 2018.
• Invictus Global Management on various restructuring and distressed investment opportunities.
• J. Paul Getty Trust, in the acquisition of archives from Ebony magazine through a section 363 sale in bankruptcy court.
• LATAM Unsecured Creditor Ad Hoc Group, in their appeal of orders confirming the plan of reorganization and backstop agreements in the reorganization of LATAM Airlines Group, S.A.
• 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.
• Oaktree Capital Management LP in connection with the out-of-court and subsequent in-court reorganization of its portfolio company-owned power plant in Salem Harbor, Massachusetts.
• 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.
• Pacific Gas & Electric and PG&E Corporation in appeals related to power purchase agreements.
• 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.
• Seadrill Limited senior management in connection with their exit employment agreements.
• Significant roles in the Gymboree, Payless Shoes, Toys“R”Us, and Nine West bankruptcy cases.
• 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 case.