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
Shipping, Automotive & Aerospace
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.
American Tire Distributor’s Pre-arranged Chapter 11 Case
An ad hoc group of term loan lenders in connection with the pre-arranged chapter 11 restructuring of American Tire Distributors, the largest replacement tire distributor in North America. The company’s plan provided for the restructuring of over $2 billion of debt, including the extension and modification of its term loan facility and equitization of its senior subordinated notes.
General Motors in Bankruptcy Court Litigation Related to Proposed Settlement of Ignition Switch Claims
General Motors LLC (“New GM”), the purchaser of substantially all of the assets of General Motors Corp (now known as Motors Liquidation Company) (“Old GM”), in litigation in the bankruptcy court related to a proposed settlement between a trust representing Old GM and plaintiffs asserting personal injury and economic loss claims arising from ignition switch and other alleged defects in vehicles manufactured by Old GM that were recalled in 2014.
Jack Cooper’s Chapter 11 Cases
Jack Cooper Ventures, Inc., a leading provider of finished vehicle logistics in North America for new and used vehicles and diversified logistical services in select non-automotive markets, and 18 of its subsidiaries and affiliates, in their chapter 11 cases in the Northern District of Georgia.
Sequa Corporation’s Out-Of-Court Restructuring
An ad hoc committee of certain unsecured noteholders of Sequa Corporation, an industrial company with operations in the aerospace, energy and metal coatings industries, in connection with the company’s out-of-court recapitalization and exchange offer transactions.
Chassix Holdings’ Pre-arranged Chapter 11 Case
An informal committee of certain holders of secured and unsecured notes of Chassix Inc. and Chassix Holdings, Inc., as well as certain lenders under Chassix’s postpetition and exit term loan credit facility, in connection with Chassix’s restructuring through a pre-arranged chapter 11 case. This matter was recognized by The Turnaround Management Association as the “Turnaround of the Year: Mega Company” and by The M&A Advisor as the “Chapter 11 Reorganization of the Year (Over $500MM).”
Danaos’ Out-of-Court Restructuring
Credit Suisse as a secured lender of Danaos Corporation, a leading international owner of containerships, in its out-of-court restructuring of multiple debt facilities representing $2.2 billion of debt. The restructuring reduced outstanding debt by approximately $551 million and provided for extension of existing debt maturities by approximately five years.
Horizon Lines’ Out-of-Court Restructuring
The ad hoc committee of noteholders of Horizon Lines, Inc., a Jones Act-registered shipping company, in connection with the company’s out-of-court restructuring.
GenCo’s Chapter 11 Case
Deutsche Bank and Crédit Agricole as agents for lending syndicates to Genco Shipping & Trading Limited, an international ship owning company, in Genco’s chapter 11 case.
Eitzen Chemical’s Restructuring
The ad hoc committee of lenders of Eitzen Chemical, a Norwegian shipping company, in connection with a restructuring of over $1 billion of debt obligations.
TMT and Excel’s Chapter 11 Cases
Oaktree Capital Management, L.P. (a) as a secured creditor in the TMT Procurement Corp. chapter 11 case, including in connection with Oaktree’s successful bids for certain VLOO vessels, and (b) with respect to the secured debt of Excel Maritime and, following an initially contentious chapter 11 case, the negotiation, confirmation and consummation of a fully consensual amended plan of reorganization.