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
For more than 25 years, Paul, Weiss has been deeply involved in in- and out-of-court restructuring matters requiring coordination across multiple jurisdictions. We regularly serve as U.S. counsel to debtors, stakeholder groups and officials appointed in non-U.S. proceedings (e.g., joint administrators, liquidators, etc.) in matters involving a diverse array of industries, guiding clients through difficult negotiations and contentious court proceedings to obtain desired outcomes in complex, cross-border restructurings.
Boart Longyear’s Chapter 15 Cases
Secured lenders of Boart Longyear Limited, an Australian registered multinational supplier of drilling services, drilling equipment and performance tooling, in connection with its Australian schemes of arrangement and related chapter 15 cases in the United States.
NCSG Crane’s Cross-border Recapitalization
NCSG Crane & Heavy Haul Corp in the consensual recapitalization of its outstanding debt and equity, as implemented through a Canadian CBCA proceeding.
Walter Energy’s Chapter 11 Cases
Walter Energy, Inc., a leading producer and exporter of metallurgical coal for the global steel industry, in its U.S.-Canadian cross-border restructuring, including all aspects of its chapter 11 case, resulting in the discharge of over $4 billion of secured and unsecured debt and the going concern sale of the company’s core mining operations to its senior lenders. This matter was recognized by The M&A Advisor as the “Distressed M&A Deal of the Year (Over $1B)” and “Section 363 Sale of the Year (Over $1B).”
EnQuest’s Cross-border Restructuring
U.S. counsel to EnQuest plc, the largest U.K. independent oil producer in the U.K. North Sea, in connection with a restructuring of the company’s approximately $1.8 billion of debt obligations through proceedings in the United Kingdom and the United States. This matter was recognized by The American Lawyer as the “Global Finance Deal of the Year: Insolvency and Restructuring (U.K.).”
Bellatrix Exploration’s Pre-arranged Restructuring
An ad hoc group of unsecured noteholders of Canadian oil and gas producer Bellatrix Exploration in pre-arranged restructuring transactions pursuant to a corporate plan of arrangement under the Canada Business Corporations Act.
Onsite Rental Group’s Out-of-Court Recapitalization
An ad hoc group of senior secured lenders to Onsite Rental Group Pty Ltd, an equipment rental business providing services to Australia’s largest mining, construction, industrial, oil & gas, infrastructure and government organizations, in connection with the company’s out-of-court recapitalization.
CEVA Group’s Out-of-Court Restructuring
An ad hoc group of lenders in a cross-border restructuring of U.K.-based CEVA Group PLC, one of the world’s largest non-asset based supply chain management companies. In a two part out-of-court exchange, CEVA eliminated approximately €1.3 billion of consolidated net debt, reduced its cash interest expense by over €130 million and received cumulative new capital commitments of over €230 million for investment in its business plan. Paul, Weiss was recognized by The Financial Times for our “Highly Commended” work on this matter.
Tervita’s Chapter 15 Cases
An ad hoc group of lenders to Tervita Corp., a leading oilfield services provider with more than $2 billion in funded debt, as U.S. counsel in connection with the company’s Canadian restructuring and U.S. chapter 15 proceedings.
Grupo Iusacell’s Cross-Border Restructuring
Grupo Iusacell, a leading Mexican cellular and broadband provider, together with its operating subsidiary Grupo Iusacell Celular, in a successful restructuring of approximately $550 million in outstanding secured notes. Pursuant to the terms of a restructuring plan approved by a Mexican federal court, the outstanding notes were cancelled and the companies issued approximately $485 million in new secured notes to bondholders.
AbitibiBowater’s Cross-border Restructuring
AbitibiBowater Inc. (now Resolute Forest Products) and its subsidiaries and affiliates, North America’s largest forest products company, as lead U.S. counsel in their complex cross-border cases in the U.S. and Canada involving the restructuring of more than $8 billion of prepetition indebtedness and raising $1.5 billion in exit financing. Paul, Weiss was recognized by The Financial Times for our “Commended” work on this matter.