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Bankruptcy, Restructuring and Insolvency 

The U.S. bankruptcy, restructuring and insolvency team advises lending institutions, investment funds, financial advisors and global companies in all phases of in-court and out-of-court restructurings and workouts. The team has extensive experience advising in pure domestic distressed situations and is uniquely situated to bring to bear multi-jurisdictional advice in the most complex cases of cross-border distress.

The team was recognized in Tier 3 in Restructuring and Insolvency in the 2016 edition of IFLR1000.

Members of our team have advised:

  • the administrative agent for the senior secured lender group in the chapter 11 cases of Sabine Oil & Gas and its affiliated debtors on over US$1bn of debt
  • an ad hoc committee of noteholders in connection with the restructuring of over €1bn of New York law governed notes issued by Codere, a leading Spanish private gaming company, including its chapter 15 filing
  • Deutsche Bank as agent to the second lien lenders in the chapter 11 cases of Samson Resources and its affiliated debtors
  • a major financial institution as administrative agent for first lien lenders on over US$1.5bn of debt in the out of court restructuring of Energy XXI, a U.S. based oil and natural gas company
  • Bank of America as administrative agent for the prepetition lenders and postpetition lenders in the chapter 11 restructuring of SemGroup
  • Bank of America as administrative agent for prepetition and postpetition secured lenders in Patriot Coal’s 2012 chapter 11 restructuring and DIP and exit financings

  • the coordinating committee of senior lenders on the comprehensive £2.3bn debt restructuring of hibu (f/k/a Yell), a multinational directories and internet services company headquartered in the UK. Named Global Finance Deal of the Year, Restructuring and Insolvency, by The American Lawyer

  • the Spanish media conglomerate Prisa on a potential chapter 11 filing in connection with the completion of its ultimately consensual €3.3bn debt restructuring
  • the coordinating committee of senior vessel lenders in connection with the approximately US$3bn debt restructuring of ZIM Integrated Shipping Services, a Israeli container shipping company, on U.S. restructuring options
  • Towergate Finance on its pending English schemes of arrangement adjusting approximately £1bn of debt and its related petition for chapter 15 recognition
  • an ad hoc group of exchange bondholders in connection with the negotiation of an inter-creditor resolution of the high profile litigation involving the Republic of Argentina and certain holdout bondholders
  • PwC, as the joint administrators of Lehman Brothers International (Europe), the UK broker dealer of the Lehman group, on the successful prosecution of billions of dollars of claims against Lehman Brothers, the U.S. broker dealer, Lehman Brothers Holdings, the global parent, and certain of its U.S. affiliates in their U.S. bankruptcy cases (Restructuring Deal of the Year, IFLR Americas Awards 2013)
  • DISH Network and its subsidiary, Blockbuster L.L.C., in connection with the US$320m winning bid for Blockbuster and its debtor subsidiaries (2011 M&A Deal of the Year, The Deal), the UK administration of its subsidiary, Blockbuster Entertainment, the Italian concordato preventivo proceeding of Blockbuster Italia, the Canadian receivership of Blockbuster Canada, and numerous litigations and operational issues arising from the sale
  • the senior lender committee on the US$2bn cross-border restructuring, including U.S. Chapter 11 cases, of Truvo USA, a multi-national company specializing in local search and advertising (2011 EMEA Restructuring of the Year, IFLR)
  • two large international banks on the financing of Ontario Teachers' Pension Plan’s US$2.35bn acquisition of marine container terminals in New York, New Jersey and Vancouver from Orient Overseas (International). We also advised one of the banks on the US$1.88bn restructuring of this transaction

Contacts 

Margot Schonholtz

U.S Head of Restructuring & Insolvency

(1) 212 903 9043

margot.schonholtz@linklaters.com

 

Aaron Javian
Partner, New York
(1) 212 903 9148
aaron.javian@linklaters.com 

 

Robert Trust

Partner, New York

(1) 212 903 9217

robert.trust@linklaters.com

 

Penelope Jensen

Counsel, New York

(1) 212 903 9087

penelope.jensen@linklaters.com