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
Media, Technology & Telecommunications
Our restructuring department fields large, multidisciplinary teams that leverage the resources of our firm as a whole. We act on all sides of cutting-edge restructuring transactions across a range of industries.
Diamond Sports Group's Chapter 11 Cases
Diamond Sports Group, the nation’s largest owner of regional sports networks, in its chapter 11 cases filed in the Bankruptcy Court for the Southern District of Texas. In connection with its filing, Diamond entered into a restructuring support agreement with the company’s creditors that would eliminate over $8 billion of its outstanding debt.
Avaya's Prepackaged Chapter 11 Plan
An ad hoc investor group of first lien lenders of Avaya Holdings Corp., a global leader in communication and collaboration solutions, in connection with the company’s prepackaged chapter 11 plan which will reduce Avaya’s total debt by more than 75% from approximately $3.4 billion to approximately $800 million.
Ongoing Chapter 11 Cases of Intelsat
An ad hoc group of holding company noteholders in the chapter 11 cases of Intelsat S.A. and its co-debtor affiliates, operator of the world’s largest and most advanced satellite fleet and connectivity infrastructure. Despite being creditors of Intelsat’s various holding companies, the ad hoc group negotiated a plan of reorganization that provided holding company creditors with approximately $400 million of value, in addition to other contingent value rights tied to Intelsat’s continued C-band spectrum clearing project.
Out-of-Court Restructuring of IPC Systems
SVPGlobal in an out-of-court restructuring of IPC Systems, a leading provider and servicer of voice communication systems for financial companies, which included the refinancing or restructuring of more than $1 billion of funded debt obligations and a $125 million equity financing.
Ad Hoc Group of Frontier Communications
An ad hoc group of first lien secured lenders in the chapter 11 cases of Frontier Communications, a leading telecommunications company with approximately $17.5 billion of funded debt obligations.
LSC Communications Chapter 11 Cases
The ad hoc group of secured noteholders of LSC Communications, a provider of traditional and digital print products, in the chapter 11 cases of LSC and 21 affiliates, including in connection with the court-approved sale of substantially all of LSC’s assets to an affiliate of Atlas Holdings LLC, for cash, a credit bid of obligations under the company’s secured term loan facility and senior secured notes, at the direction of the creditors, and the assumption of certain liabilities.
Successful Out-of-Court Restructuring of Ligado Networks
An ad hoc group of second lien lenders of telecom company Ligado Networks in Ligado’s successful out-of-court restructuring of approximately $14 billion of liabilities and issuance of $2.85 billion of 15.5% PIK Senior Secured First Lien Notes due 2023 and $1 billion of 17.5% PIK Senior Secured Notes due 2024.
Windstream’s Chapter 11 Case
An ad hoc group of first lien lenders in (a) the chapter 11 restructuring of Windstream, a leading provider of advanced network communications and technology solutions for businesses across the U.S., with over $5 billion in funded debt obligations, and (b) the recharacterization litigation against, and $1.2 billion settlement with, Uniti, the REIT that owns most of Windstream’s network. The transaction provided for the equitization of a substantial portion of Windstream’s $3 billion in outstanding first lien indebtedness, as well as access to approximately $2 billion in new capital, and a new long term lease structure between Windstream and Uniti.
Mood Media Corporation's Prepackaged Chapter 11
The ad hoc group of second lien noteholders and equity sponsors in the prepackaged chapter 11 restructuring of Mood Media Corporation, a global provider of in-store audio, visual and other forms of media and marketing solutions, which was confirmed and became effective one day after the company filed for chapter 11 protection, setting a new record for the fastest chapter 11 case in the U.S. Bankruptcy Court for the Southern District of Texas.
Frontier Communications 363 Sale
Northwest Fiber LLC, the purchaser, in connection with the sale under section 363 of the Bankruptcy Code of equity interests in certain of Frontier Communication’s subsidiaries that conduct Frontier’s business in Washington, Oregon, Idaho, and Montana for an aggregate purchase price of approximately $1.4 billion.