Creditor and Ad Hoc Group Representations

Ropes & Gray business restructuring lawyers have represented official creditors’ committees across a diverse range of industries, including oil and gas, retail, telecommunications, and manufacturing. Our team has also advised ad hoc creditor groups in many of the nation’s largest chapter 11 cases, providing strategic advice on reorganization options, as well as debtor-in-possession and exit financing opportunities.

Among the Ropes & Gray team’s recent and most notable committee representations are:

• Represented an ad hoc group of first lien loan lenders of American Rock Salt Company, LLC, a leading producer of de-icing salt in North America, in an add on, senior financing transaction
• Represented an ad hoc group of second lien term loan lenders in connection with the indebtedness of Anthology, Inc.
• Represented an ad hoc group of secured noteholders and DIP lenders in the chapter 11 case of Biora Therapeutics, Inc.
• Represented an ad hoc group of first lien term loan lenders and DIP lenders in the chapter 11 cases of CareMax, Inc.
• Represented an ad hoc group of first and second lien term lenders of CHC Group LLC, in approximately $100 million of new money financing and an out of court exchange involving up to $500 million of existing first and second lien debt.
• Represented an hoc group of second lien term lenders to Checkers Drive-In Restaurants in connection with an out of court recapitalization of the indebtedness of Checkers
• Represented an ad hoc group of first lien term loan lenders, bridge lenders and DIP Lenders in the chapter 11 cases of Digital Media Solutions
• Represented an ad hoc group of second lien term loan lenders to Elevate Textiles Inc., an international manufacturer of various retail textile, in recapitalization negotiations
• Representing an ad hoc group of bondholders of Exela Technologies, Inc. a global business process automation company, in connection with its chapter 11 cases, captioned In re DocuData Solutions, Inc. pending in the United States Bankruptcy Court for the Southern District of Texas. These proceedings involve the restructuring of $1.3 billion of funded debt and the ad hoc group is providing a new money DIP facility of up to $80 million.
• Represented an ad hoc group of bondholders of Exela Technologies, Inc. in multiple out of court exchanges involving approximately $1 billion of first lien bond debt.
• Represented an hoc group of second lien term lenders to Healogics in an out of court recapitalization of Healogics in which second lien term loan lenders became majority owners of the company
• Represented an ad hoc group of first lien term loan lenders and DIP lenders in the chapter 11 cases of Instant Brands
• Represented an ad hoc group of senior secured noteholders and DIP lenders in the chapter 11 cases of Ion Geophysical
• Represented an ad hoc group of first lien term lenders to K&N Engineering, a leading manufacturer of premier aftermarket auto part, in out of court restructuring.
• Represented ad hoc group of second lien term loan lenders of Petmate, a supplier and manufacturer of pet products, in connection with its out-of-court restructuring of approximately $600 million of funded debt
• Represented an ad hoc group of secured and unsecured noteholders in chapter 11 cases of Quotient Ltd.
• Represented an ad hoc group of second lien term loan lenders to Yak Access, the largest supplier of access mats in North America, in recapitalization negotiations.