EXPERIENCE

Some of Michael’s recent creditor-side experience includes:

• An ad hoc group of secured and unsecured creditors of Bausch Health, a multinational healthcare company, in connection with the company’s proposed spin-off of its eyecare business
• 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
• An ad hoc committee of unsecured noteholders in the prearranged chapter 11 cases of Gulfport Energy, an independent, natural gas-weighted exploration and production company and one of the largest producers of natural gas in the contiguous United States. Gulfport’s chapter 11 plan facilitated a comprehensive operational restructuring and discharged more than $1.2 billion of debt, resulting in the ad hoc committee receiving substantially all of the equity of the reorganized company
• 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
• An ad hoc committee of noteholders in the chapter 11 restructuring of Whiting Petroleum, one of the largest independent exploration and production companies in the U.S. with over $3.4 billion in funded debt obligations
• An ad hoc group of secured noteholders in the prepackaged chapter 11 restructuring of Denbury Inc., a Plano, Texas-based hydrocarbon exploration company and the only U.S.-based public company of scale with a primary focus on carbon dioxide enhanced oil recovery. The company’s plan provided for the restructuring of nearly $2.4 billion of debt, including the extension and modification of its RBL facility and equitization of the secured notes
• The ad hoc committee of certain first lien senior secured creditors of Texas Competitive Electric Holdings Company, an electric utility provider, in the company’s chapter 11 case involving the restructuring of approximately $32 billion of secured and unsecured debt
• An ad hoc group of term loan lenders in the prearranged 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
• Secured and unsecured lenders of Boart Longyear, an Australian registered supplier of drilling services, drilling equipment and performance tooling, in its recapitalization transaction which reduced approximately $795 million of the company’s debt through two Australian court-approved schemes of arrangement and companion chapter 15 proceedings by the U.S. Bankruptcy Court for the Southern District of New York
• Senior secured lenders to SquareTwo Financial, a purchaser and manager of charged-off consumer and commercial accounts receivable, in the company’s prepackaged chapter 11 case
• 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 the company’s out-of-court recapitalization and exchange offer transactions
• An indenture trustee and certain noteholders of Algeco Scotsman Global Finance, a global business service provider, in challenging a restructuring transaction proposed by the company and negotiating and closing an improved transaction pursuant to which Algeco’s sponsor, TDR Capital, agreed to purchase $125 million of notes held by the group as well as invest $250 million in Algeco on a go-forward basis
• Oaktree Capital Management as a secured creditor in the chapter 11 case of TMT Procurement, a maritime transportation services provider in the bulk, vehicle, ore and oil sectors, including in Oaktree’s successful bids for certain VLOO vessels
• An ad hoc group of senior unsecured creditors of Paragon Offshore, 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 a restructuring of over $2 billion of secured and unsecured debt obligations. Paul, Weiss was also counsel to the Official Committee of Unsecured Creditors in the company’s chapter 11 cases
• An ad hoc group of debtholders of Concordia Healthcare, an international specialty pharmaceutical company based in Canada, in the restructuring of the company and its affiliates
• The Official Committee of Unsecured Creditors of Quicksilver Resources, a Texas-based oil and gas exploration and production company with over $2 billion in indebtedness
• Silver Point Capital, as postpetition and senior prepetition lender, in the restructuring of TridentUSA and its affiliates, the leading national provider of bedside diagnostic and related health care services, including its chapter 11 cases

Some of Michael’s recent debtor-side experience includes:

• Noranda Aluminum, a leading U.S. producer of primary aluminum and aluminum foil products, and its wholly owned subsidiaries in all aspects of their chapter 11 cases, including (a) the sales of Noranda’s upstream and downstream businesses, (b) the rejection of a burdensome supply contract over the objection of a counterparty who was seeking to assume the same contract in its own chapter 11 case, and (c) a global settlement with various creditor groups
• Animal Supply Company, a national leader in pet food and supplies distribution, in an out-of-court restructuring transaction providing for the equitization of a significant portion of its debt and the infusion of new capital
• Cumulus Media, the nation’s second largest radio company with 446 stations spread across 90 markets, and certain of its affiliates in their chapter 11 cases, including a multi-day chapter 11 plan confirmation trial addressing, among other things, various valuation issues
• RCCH HealthCare Partners, a Tennessee-based provider of hospital and healthcare services, in its acquisition of substantially all of the assets of chapter 9 debtor Kennewick Public Hospital District (d/b/a Trios Health)
• The Collegiate Churches of New York, the oldest operating church in the United States, in connection with its investment in a major commercial real estate development project in New York City