Asset Based Lending & Debtor-in-Possession Financing

Our business restructuring lawyers have represented a number of major national, international and regional lending institutions and administrative and collateral agents in workouts and bankruptcies involving syndicated and asset-based loans, equipment leasing transactions, securitizations, debtor-in-possession and exit financings, as well as other secured and unsecured loan transactions, including, where necessary, litigating disputes on behalf of lenders in large and complex financing transactions.  Some of our recent engagements include:

• Sankaty Advisors and GoldenTree Asset Management in connection with their pending purchase of €110 million of senior secured notes as a portion of the exit financing for Almatis’ Dubai Capital Investment-sponsored emergence from bankruptcy in the case of In re Almatis GmbH, a Chapter 11 proceeding in the United States Bankruptcy Court for the Southern District of New York.
• Sankaty Funds in its role as a new money investor and majority equity holder of reorganized Electrical Components International, Inc., together with its subsidiaries. The consensual restructuring was implemented through a prepackaged Chapter 11 filing in the Delaware bankruptcy court in the case of In re Electrical Components International, Inc. et al.
• Highland Capital in providing the debtor-in-possession financing in the Chapter 11 case of In re Broadstripe Capital, LLC et al., in the United States Bankruptcy Court for the District of Delaware (formerly Millennium Digital Media Systems LLC).
• A group of the largest bondholders in the Chapter 11 case involving Port Townsend Paper Company, In re PT Holdings Company, Inc. et al., a Chapter 11 proceeding in the United States Bankruptcy Court for the Western District of Washington, in connection with providing debtor-in-possession financing and an exit financing facility comprising term debt and preferred equity.