iRobot Emerges From Chapter 11

Paul, Weiss advised iRobot on its comprehensive restructuring, pursuant to which Shenzhen PICEA Robotics Co., Ltd. and Santrum Hong Kong Co., Limited, collectively known as Picea, iRobot’s secured lender and a global manufacturer and service provider of robotic vacuum cleaners, acquired all equity interests in iRobot. The transaction marks iRobot’s successful emergence from its prepackaged chapter 11 process with an improved financial foundation and additional capacity to invest in the next generation of smart home robotics. Financial details were not disclosed.

The Paul, Weiss team included restructuring partners Paul Basta, Alice Eaton, John Weber and Liz Osborne, and counsel Sarah Harnett; litigation partners John Carlin, Alison Benedon, Nathan Mitchell and Paul Paterson; executive compensation partner Jean McLoughlin; antitrust partners Ross Ferguson, Lauren O’Brien and Katharine Haigh, and counsel John Magruder; corporate partner Jeffrey Marell and counsel Lyudmila Bondarenko; intellectual property partners Claudine Meredith-Goujon and Brianna van Kan; and tax partner Robert Holo.