A partner in the Restructuring Department, Brian Bolin represents creditors, debtors, sponsors and distressed investors in a wide range of insolvency matters, including chapter 11 cases, out-of-court workouts, bankruptcy sales and cross-border restructurings. As Deputy Chair of the Hybrid Capital & Special Situations Group, Brian particularly focuses on advising borrowers, lenders, and sponsors on distressed financing transactions, including liability management transactions, distressed investments, rescue financings, DIP financings, exit financings, and direct lending transactions.
Brian co-authors, alongside fellow Paul, Weiss partner Elizabeth McColm, the annual “Investment Fund Activity in Chapter 11” chapter in Americas Restructuring Review published by Global Restructuring Review.
Brian’s representative matters include:
- Revlon, a leading global beauty company, and certain of its subsidiaries in their chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York
- An ad hoc group of noteholders of Carlson Travel Inc. in connection with the prepackaged chapter 11 cases filed by the company and its affiliates in the U.S. Bankruptcy Court for the Southern District of Texas
- 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
- SPARC Group, a retail operator owned by Authentic Brands Group and Simon Property Group, in its going concern acquisition of the assets of Brooks Brothers, a New York-based apparel company, in the company’s chapter 11 case
- SPARC Group, a retail operator owned by Authentic Brands Group and Simon Property Group, in its going concern acquisition of the assets of Lucky Brand Dungarees, a California-based designer and retailer of denim and apparel, in the company’s chapter 11 case
- Apollo Global Management as a secured noteholder and plan sponsor in the chapter 11 cases of Houston-based oil-and-gas exploration and production company EP Energy
- Pioneer Energy Services Corp., a land-based drilling and production services provider operating in the U.S. and Colombia, in its prepackaged chapter 11 cases in the Southern District of Texas. The company’s prepackaged plan reduced Pioneer’s funded debt and injected approximately $120 million of new capital into the company, enabling the company’s emergence from chapter 11 as a going concern and preserving over 1,000 jobs
- The Collegiate Churches of New York, the oldest operating church in the U.S., in connection with its investment in a major commercial real estate development project in New York City
- Lion Capital, as secured lender and equity sponsor, in the chapter 11 cases of Alex and Ani, a customizable jewelry company. The restructuring plan allowed the company to reorganize its balance sheet, optimize its retail lease portfolio, resolve litigation involving the company’s founder, and convert the company’s $127 million of prepetition secured debt into 100% of the reorganized company’s equity
- The Collected Group, an international fashion group headquartered in California which is recognized globally as a leading designer, distributor and retailer of the Joie, Equipment and Current/Elliot brands, and its debtor subsidiaries, in their chapter 11 cases in the District of Delaware
- An ad hoc group of consenting creditors holding secured revolving loans, term loans, and convertible notes in SAExploration in the chapter 11 case of SAExploration, an eco-responsible oil and gas surveying services company
FINANCE AND DISTRESSED INVESTMENT EXPERIENCE
Brian’s experience includes:
- KKR, as sponsor to Envision Healthcare, in connection with Envision’s entry into $2.6 billion, in aggregate, of new senior secured first and second lien financing facilities and its $1.5 billion of related discounted debt repurchase transactions and $3.7 billion refinancing transaction
- Alex and Ani, a customizable jewelry company, in its $17.5 million ABL financing following emergence from chapter 11 in 2021
- Charlesbank Capital Partners, LLC, as arranger and lender under a $350 million first lien term loan facility with the parent company of FullBeauty. The facility will refinance and replace certain term loans incurred by FullBeauty upon its exit from its 2019 pre-arranged bankruptcy
- Centerbridge and Oaktree in a $1.25 billion direct loan to OTG, a leading operator of airport concessions
- An ad hoc group of noteholders of Carlson Travel Inc. in connection with their investment in Carlson’s $625 million of first-lien exit notes pursuant to Carlson’s prepackaged chapter 11 plan
- An ad hoc group of second lien lenders of telecom company Ligado Networks in their investment in Ligado’s $2.85 billion of 15.5% PIK Senior Secured First Lien Notes due 2023, $130 million 1.5 lien term loan facility, and $1 billion of 17.5% PIK Senior Secured Notes due 2024, in connection with Ligado’s successful out-of-court restructuring of approximately $14 billion of liabilities
- The Collected Group, an international fashion group headquartered in California which is recognized globally as a leading designer, distributor and retailer of the Joie, Equipment and Current/Elliot brands, and its debtor subsidiaries, in their delayed-draw debtor-in-possession facility and exit facility
- Revlon, a leading global beauty company, in its subsidiary’s successful out-of-court exchange offer for its approximately $343 million aggregate principal amount of outstanding 5.75% senior notes due 2021, which allowed Revlon to avoid springing maturities across its capital structure
- Revlon, a leading global beauty company, in the refinancing of its $400 million asset-based loan facility with a $270 million asset-based loan facility and $130 million “second-in, second-out” term loan
- Beach Point Capital Management in its $50 million partially priming secured term loan to EPIC Y-Grade, owner and operator of midstream infrastructure, including a natural gas liquids pipeline
- Pioneer Energy Services Corp., a land-based drilling and production services provider operating in the U.S. and Colombia, in its $75 million debtor-in-possession revolving credit facility and exit financing consisting of a $75 million senior secured revolving credit facility, $78 million secured notes and $130 million convertible notes
- An ad hoc group of lenders to a sponsor-owned jeweler in the amendment and extension of its approximately $200 million term loan facility
- Certain funds managed by Neuberger Berman in the out-of-court restructuring of Drive Medical, a provider of durable medical equipment
Brian’s work on the prepackaged chapter 11 cases of Carlson Travel, was awarded the “Pre-Pack Restructuring (Large)” award by The Turnaround Atlas Awards 2022.
Brian served as an articles editor for the New York University Law Review.