Restructuring

23andMe Initiates Voluntary Chapter 11 Proceedings

Paul, Weiss is advising 23andMe Holding Co., a leading human genetics and biotechnology company, in voluntary chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Missouri to facilitate the sale of substantially all of its assets.

Mitel Commences $1.15 Billion Restructuring

Paul, Weiss is representing Mitel Networks Corporation, a global leader in business communications, on its prepackaged plan of reorganization and voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas.

Paul, Weiss Advises Ad Hoc Committee of Noteholders in Cutera’s Prearranged Bankruptcy

Paul, Weiss is representing an ad hoc committee of noteholders in the prearranged bankruptcy of Cutera, Inc., a leading provider of aesthetic and dermatology solutions.

HPS Completes Vialto Recapitalization Transaction

Paul, Weiss advised HPS Investment Partners in the recapitalization of Vialto Partners, a premier provider of global mobility, tax and immigration solutions.

Oregon Tool Announces New Money and Recapitalization Transactions

Paul, Weiss advised a cross-holder ad hoc group in Oregon Tool, Inc., a global leader and manufacturer of professional-grade cutting tools, in three financing transactions by the company.

Excluded Lender Group Wins Important Appeal Against Serta Simmons Reaffirming Proportional Treatment in Syndicated Debt Deals

Paul, Weiss won a significant appeal on behalf of a group of Serta Simmons lenders excluded from a 2020 debt restructuring deal.

2023 Restructuring Department Highlights

The Paul, Weiss Restructuring Department continues to be involved in the most notable matters across industries and borders. We possess a thorough knowledge of every aspect of bankruptcy law, coupled with perspectives earned from representing all sides of major restructuring transactions.

Paul, Weiss Advises Noteholders in EchoStar Restructuring

Paul, Weiss advised an ad hoc group of DISH Network Corporation convertible noteholders in certain strategic transactions completed by DISH parent company EchoStar Corporation.

Sandvine Removed From Commerce Department’s Entity List Following Significant Corporate Reforms to Protect Human Rights

Paul, Weiss secured a major victory for Sandvine Corporation, a Canada-based technology service provider, when key U.S. government stakeholders took the extremely rare step of removing Sandvine from the Entity List.

Apollo and ATLAS Form $5 Billion Strategic Collaboration With BNP Paribas

Paul, Weiss advised Apollo and ATLAS SP Partners, the warehouse finance and securitized products business majority owned by Apollo funds, in their $5 billion strategic financing and capital markets collaboration with BNP Paribas, the European Union’s leading global bank.

Rite Aid Emerges From Chapter 11

Paul, Weiss represented an ad hoc group of second lien noteholders in Rite Aid Corporation’s successful emergence from chapter 11 bankruptcy.

Experienced Financial Restructuring and Special Situations Partner Joins Paul, Weiss in London

Liz Osborne is joining Paul, Weiss as a partner in the Restructuring Department and head of European Restructuring, resident in London. Liz advises companies and creditors on stressed and distressed investments, including special situations financings and complex restructurings.

Hornblower Emerges From Chapter 11

Paul, Weiss represented Hornblower Group, a global leader in world-class experiences and transportation, in its successful emergence from chapter 11.

IronNet Emerges From Chapter 11

Paul, Weiss represented C5 Capital and ITC Global Advisers, as secured lenders, in the successful chapter 11 cases of IronNet, Inc., a global cybersecurity company.

Digicel Completes $3.8 Billion Restructuring

Paul, Weiss advised an ad hoc group of creditors of Digicel Limited (DL) and its subsidiaries in the company’s consensual financial restructuring of approximately $3.8 billion of debt.

Market-Leading Industry Insights

Our team regularly provides clients with updates on key industry developments and consistently contributes to the most well-respected restructuring publications.

» View a complete list of our recent restructuring client memos and publications

Restructuring Department Bulletin – April 2025

In the April 2025 edition of the Restructuring Department Bulletin, we highlight recent decisions and developments impacting the restructuring arena and share the latest news on the Paul, Weiss Restructuring Department.

Lauren Bilzin to Discuss Liability Management at Federal Bar Council Event

Restructuring partner Lauren Bilzin will participate in the Federal Bar Council’s Bankruptcy Litigation Committee meeting.

Paul Basta to Discuss Distressed Transactions at Columbia Law School Brazil Forum

Restructuring partner Paul Basta will participate on a panel, “Distressed Transaction and Restructuring: Trends in the US and Brazil,” at Columbia Law School Brazil Association’s 2025 Brazil Forum.

Paul Basta to Discuss Credit Markets at Tulane Bankruptcy and Restructuring Symposium

Restructuring partner Paul Basta will participate on a panel, “Credit Markets Go Dark,” at Tulane University Law School’s Biennial Bankruptcy and Restructuring Symposium.

Independent Directors Properly Exculpated as Debtors’ Disinterested Fiduciaries Under Chapter 11 Plan, Southern District of Texas Bankruptcy Court Rules

The U.S. Bankruptcy Court for the Southern District of Texas recently held that the Instant Brands chapter 11 plan properly exculpated the debtors’ independent directors for conduct performed within the scope of their duties during the administration of the chapter 11 cases, absent gross negligence or willful misconduct. The court found that the Fifth Circuit’s Highland Capital ruling affirmed that the Bankruptcy Code authorizes exculpation of a bankruptcy trustee unless it acts with gross negligence, and that these protections extend to a debtor-in-possession and its independent fiduciaries because the Bankruptcy Code vests a debtor-in-possession with all the authority of a bankruptcy trustee.

Alice Eaton Discusses Restructuring Market Developments, Reflects on Restructuring Career, on ABI’s Women in Restructuring Podcast

Restructuring partner Alice Eaton was the featured guest on the inaugural episode of the Women in Restructuring podcast, a collaboration between Debtwire and the American Bankruptcy Institute highlighting leading women in the restructuring field.

Restructuring Department Bulletin – March 2025

In the March 2025 edition of the Restructuring Department Bulletin, we highlight recent decisions and developments impacting the restructuring arena and share the latest news on the Paul, Weiss Restructuring Department.

Three’s a Crowd? The Thames Water Restructuring Plan(s)

In a hotly anticipated judgment, on February 18, the English High Court approved Thames Water's restructuring plan. The plan marked a series of firsts: the first plan proposed by a regulated water company, the first time public interest arguments have been put to the Court, and the first time that three restructuring plans were proposed simultaneously.

Kai Zeng Discusses European Restructuring Trends and Paul, Weiss’s Growing European Restructuring Team With 9fin

Restructuring partner Kai Zeng was featured in London-based debt market data and analytics platform 9fin’s Q&A series, “9Questions,” which features key decision makers in corporate credit markets.

Restructuring Department Bulletin – February 2025

In the February 2025 edition of the Restructuring Department Bulletin, we highlight recent decisions and developments impacting the restructuring arena and share the latest news on the Paul, Weiss Restructuring Department.

Alice Eaton and Sean Mitchell Discuss Restructuring Developments at PLI Event

Restructuring partners Alice Eaton and Sean Mitchell participated in the Practising Law Institute’s “Recent Developments in Distressed Debt, Restructurings and Workouts 2025” program.

Jake Adlerstein Discusses Record-High Bankruptcy Filings by PE-Backed Companies With S&P Global

Restructuring partner Jacob Adlerstein spoke with S&P Global about the surge in bankruptcy filings by U.S. companies backed by private equity and venture capital, representing the highest annual total on record.

Appellate Review of Uptier Transactions: Serta and Mitel Decisions Reversed on Appeal

The Fifth Circuit and the Appellate Division of the New York Supreme Court recently reversed two decisions addressing uptier transactions. The reversals send a strong signal that courts should consider the plain meaning of debt document provisions when handling challenges to liability management transactions.

Restructuring Department Bulletin – January 2025

In the January 2025 edition of the Restructuring Department Bulletin, we highlight recent decisions and developments impacting the restructuring arena and share the latest news on the Paul, Weiss Restructuring Department.