Vyaire Medical, Inc. — Representation of Vyaire Medical, Inc. and certain of its affiliates in their prearranged Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. Vyaire is a leading medical devices and services company with approximately $534 million in funded debt. Vyaire commenced the prearranged cases to conduct a sale process with a $45 million debtor-in-possession financing facility and the support of the vast majority of its secured lenders.
Thrasio — Representation of Thrasio Holdings, Inc. and 240 of its affiliates in their prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey. Thrasio is the largest aggregator of Amazon brands in the world. Thrasio entered Chapter 11 with a restructuring support agreement widely supported by its lenders, and, upon exit from Chapter 11, comprehensively restructured over $3 billion of funded debt and preferred equity obligations and injected $90 million of new money financing into the go-forward business.
Wheels Up Experience Inc. — Representation of Wheels Up Experience Inc., a provider of on-demand private aviation services, in its strategic partnership with a consortium of investors led by Delta Air Lines, Certares Management LLC, Knighthead Capital Management LLC, and Cox Enterprises. The transaction provided Wheels Up with a new $500 million credit facility through a debt and equity capital raise, and allowed customers to keep all outstanding flight credits. With a greatly enhanced liquidity position, Wheels Up is poised to execute on its business plan.
Center for Autism and Related Disorders, LLC — Representation of Center for Autism and Related Disorders, LLC (“CARD”) and four of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. CARD is one of the nation’s largest treatment providers for individuals diagnosed with autism spectrum disorder. Prior to filing for Chapter 11, CARD entered into a stalking horse asset purchase agreement for a going-concern sale of substantially all of CARD’s assets. CARD intends to use the Chapter 11 cases to run a competitive sale and bidding process to maximize enterprise value. CARD entered the Chapter 11 cases with a new money, delayed draw term loan debtor-in-possession financing facility from the company’s prepetition credit facility lenders.
Genesis Care Pty Ltd — Representation of Genesis Care Pty Ltd and its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. GenesisCare is a leading cancer care provider, offering personalized and accessible treatment across a network of highly-skilled healthcare professionals to patients globally. GenesisCare is one of the world’s largest integrated oncology organizations and the world’s largest provider of radiotherapy, operating more than 400 cancer centers in the U.S., Australia, Spain and the UK which treat more than 450,000 patients annually. As of its Chapter 11 filing, GenesisCare’s funded debt totaled approximately $1.7 billion, including approximately $1.55 billion in secured term loan indebtedness. GenesisCare commenced its Chapter 11 cases to obtain access to debtor-in-possession financing, to conduct a marketing and sale process for its U.S. assets, and to restructure its financial obligations.
Aearo Technologies LLC — Representation of Aearo Technologies LLC and its debtor affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Indiana. Aearo Technologies is a market leader in the energy control space, providing custom noise, vibration, thermal, and shock protection solutions to the aerospace, commercial vehicle, heavy equipment, and electronics industries. Aearo Technologies and its non-Debtor parent 3M are defendants in the largest multi-district litigation in history, with over 230,000 personal injury claims filed related to certain historical Aearo products.
Seadrill Limited (Second Restructuring) — Representation of Seadrill Limited and certain of its direct and indirect subsidiaries in their multi-jurisdictional restructuring of approximately $6.1 billion of funded debt. Seadrill is a leading global provider of offshore contract drilling services and employs nearly 3,100 individuals across 15 countries and five continents. Seadrill's Chapter 11 cases, one of the largest filings of 2021, equitized approximately $4.9 billion of secured debt across twelve silos and facilitated a capital investment of $350 million, enabling Seadrill to continue to operate its modern fleet of drilling units.
Seadrill New Finance Limited — Representation of Seadrill New Finance Limited and 11 of its affiliates (together, the “NSNCo Group”), the fourth group of Seadrill Limited entities to undergo a restructuring, in their one-day prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. The NSNCo Group utilized Chapter 11 to implement an amend-and-extend of approximately $622 million in senior secured notes and transfer majority ownership of NSNCo from the wider Seadrill Limited group to Seadrill’s secured noteholders. The NSNCo Group’s reorganization plan was confirmed within one day of the filing of the Chapter 11 cases.
Katerra Inc. — Representation of Katerra Inc. and its subsidiaries in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Katerra is an innovative and eco-conscious construction company with facilities across the globe that develops, manufactures, and markets products and services in the commercial and residential construction spaces. Katerra commenced its Chapter 11 cases with the goal of facilitating a marketing and sale process for its assets to maximize value and creditor recoveries.
