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 has a market leading practice representing key creditor constituencies (official and ad hoc groups, agents, trustees, strategic creditors, critical contract counterparties, etc.) in complex, high profile in- and out-of-court restructuring, debt refinancing and recapitalization matters. We represent a broad array of creditors and understand the needs and concerns of different creditor constituencies (operational, financial, secured, unsecured, etc.). The diversity of our creditor matters and clients distinguishes our practice and enhances our ability to represent—and secure successful outcomes for—official and unofficial groups comprised of different types of creditors.
The ad hoc group of 2020 secured PDVSA noteholders in a potential restructuring of the senior secured notes issued by Petroleos de Venezuela, S.A., an oil and gas company that is wholly owned by the government of Venezuela.
Puerto Rico’s Constitutional Debt Restructuring
An ad hoc group of Puerto Rico general obligation bondholders in restructuring the $18 billion of Constitutional debt issued or guaranteed by the Commonwealth of Puerto Rico, including in the Title III cases commenced under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) to restructure the debts of the Commonwealth and certain of its instrumentalities and public corporations.
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.
FULLBEAUTY’s Prepackaged Chapter 11 Case
An ad hoc group of prepetition second lien lenders in the chapter 11 cases of FULLBEAUTY Brands Holdings Corp. and certain affiliates, which restructured more than $1.2 billion of prepetition debt through a prepackaged plan of reorganization that was approved by the United States Bankruptcy Court for the Southern District of New York less than 24 hours after the company filed for chapter 11 protection.
Pacific Drilling’s Chapter 11 Cases
An ad hoc committee of debtholders in the chapter 11 cases of Pacific Drilling S.A., a leading international offshore drilling contractor with approximately $3 billion in indebtedness, and its affiliates, including in a plan-related mediation ordered by the Bankruptcy Court. This matter was recognized by The M&A Advisor as the 2019 “Energy Deal of the Year.”
Gibson Brand’s Prenegotiated Chapter 11 Case
An ad hoc committee of senior secured noteholders of Gibson Brands, Inc., an iconic American manufacturer of guitars, other musical instruments and professional audio equipment, in the company’s prenegotiated chapter 11 case, including the negotiation of a prepetition restructuring support agreement and the provision of $135 million of debtor-in-possession financing. This matter was recognized by The Turnaround Management Association as the “Mid-Size Company Transaction of the Year.”
Neiman Marcus’ Restructuring
An ad hoc committee of unsecured noteholders of Neiman Marcus, one of the world’s largest omni-channel luxury fashion retailers, in connection with a recapitalization transaction involving the exchange of unsecured notes into a new series of third-lien notes and preferred equity in MyTheresa, a German luxury online retailer, and the issuance of new second lien notes.
Toys “R” Us’s Restructuring
An ad hoc group of holders of prepetition secured notes and DIP notes issued by the holding company that owned Toys “R” Us’s international business in (a) the restructuring of Toys “R” Us, Inc. and certain of its subsidiaries through concurrent proceedings in the U.S. and multiple foreign jurisdictions and (b) the provision of $455 million of debtor-in-possession financing, the proceeds of which were used to fund the company’s international businesses.
Halcón Resources' Prepackaged Chapter 11 Case
An ad hoc group of unsecured noteholders in connection with the prepackaged chapter 11 cases of Halcón Resources Corporation.
Paragon Offshore’s Restructuring
An ad hoc group of senior unsecured creditors of Paragon Offshore plc, a U.K. offshore drilling company servicing oil and gas companies with operations in Brazil, Mexico, the North Sea, the Middle East, and elsewhere, in connection with a restructuring of over $2 billion of secured and unsecured debt obligations. Paul, Weiss subsequently represented the Official Committee of Unsecured Creditors in the company’s chapter 11 cases.