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The Paul, Weiss Bankruptcy & Corporate Reorganization Department serves as a critical advisor in almost every major, complex restructuring matter, helping companies, creditors and investors facing rapid market transformation respond to business challenges with comprehensive and innovative strategies. Diversity of matters and clients, senior-level attention and seamless delivery of multidisciplinary services distinguish the practice.

Arch Coal Completes Restructuring

Arch Coal, Inc., a leading producer of metallurgical and thermal coal, successfully completed its financial restructuring and emerged from chapter 11 as a publicly traded company with more than $300 million of cash on its balance sheet and just $363 million in debt, less than one-tenth of its total prepetition debt. Paul, Weiss represented an ad hoc group of Arch Coal's prepetition first lien lenders in connection with the restructuring and the provision of $275 million of debtor-in-possession financing pursuant to a prepetition restructuring support agreement. As a result of the restructuring, the ad hoc group received substantial cash payments, $326.5 million in principal amount of new first lien debt, and 94 percent of Arch Coal's common stock in exchange for $1.9 billion of secured prepetition loans. 

The Paul, Weiss team included bankruptcy partners Brian Hermann, Stephen Shimshak and Jacob Adlerstein; corporate partners Gregory Ezring, Brian Kim, Jeffrey Marell and Brian Janson; litigation partners Aidan Synnott, Andrew Ehrlich and Gregory Laufer; tax partners David Mayo; and employee benefits partner Robert Fleder.

October 14, 2016

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