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James Scavone is an associate in New York. His practice focuses on all aspects of corporate restructuring, including advising prominent public and private companies, boards, ad hoc groups, and committees in both out-of-court restructurings and in-court chapter 11 proceedings. James’s experience spans a broad range of industries, including technology, financial services, media & entertainment, and retail.
James previously served as a judicial intern for the Honorable Cecelia G. Morris of the U.S. Bankruptcy Court for the Southern District of New York.
Experience
- Representing holders of $2.4 billion of convertible notes issued by Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology, in connection with its confirmed prepackaged chapter 11 plan of reorganization. This transaction involves approximately $6.7 billion of debt and includes a restructuring support agreement entered into with the company’s key stakeholders. Convertible noteholders represented by Ropes & Gray will take majority ownership of the equity and have backstopped new capital in the form of $275 million of new second lien convertible notes.
- Altice France, a leading telecommunications provider, in its chapter 15 proceedings to seek recognition in the United States of its historic French restructuring involving more than €20 billion of debt.
- Cutera, Inc., a leading provider of aesthetic and dermatology solutions for practitioners worldwide, in prepackaged chapter 11 cases to reduce the company’s debt by nearly $400 million, or over 90%, and raise $65 million in new money from existing lenders.
- An ad hoc group of bondholders of Exela Technologies, a global business process automation company, in connection with its chapter 11 cases, captioned In re DocuData Solutions, Inc. in the United States Bankruptcy Court for the Southern District of Texas. These proceedings involved the restructuring of $1.3 billion of funded debt and the ad hoc group provided a new money DIP facility of up to $80 million.
- Aimbridge Hospitality in connection with a comprehensive out-of-court restructuring supported by 100% of the company’s lenders that successfully converted more than $1 billion of senior and junior debt into equity and infused the company with $100 million in new capital. Aimbridge is the leading third-party hotel management company, managing over 1,000 hotels globally and employing approximately 47,000 individuals.