The thing that strikes you the most about Paul, Weiss is the depth of the practice. They just have a large number of senior partners, all of whom are of an outstanding quality.
- Chambers USA, Band 1 for Bankruptcy/Restructuring (Nationwide and NYC) and "Bankruptcy Law Firm of the Year" in 2019
Paul, Weiss is representing an ad hoc group of first-lien lenders in the chapter 11 cases of cable provider Frontier Communications Corp. Frontier announced that its $11 billion plan of reorganization had been confirmed by the U.S. Bankruptcy Court for the Southern District of New York. In confirming the plan, the court approved a settlement among the company and its first- and second-lien lenders, overruling challenges to the settlement from two groups of senior unsecured noteholders. As part of the settlement, first-lien lenders will receive a payment from Frontier of at least $57.5 million, and potentially $65 million, depending on when Frontier completes the regulatory approval process and emerges from chapter 11.
Upon emergence, Frontier will have reduced its total outstanding indebtedness by more than $10 billion and have achieved significant financial flexibility to support continued investment in its long-term growth. Frontier filed for chapter 11 on April 14, 2020.
The Paul, Weiss team included restructuring partners Brian Hermann and Kyle Kimpler and of counsel Stephen Shimshak; litigation partners Gregory Laufer, Julia Wood, Aidan Synnott and Walter Rieman; corporate partners Lawrence Wee and Tracey Zaccone; and tax partner Robert Holo.
August 21, 2020