Careismatic Brands, LLC — Representation of Careismatic Brands, LLC and 21 of its affiliates (together, “Careismatic”) in their prearranged Chapter 11 restructuring in the United States Bankruptcy Court for the District of New Jersey. Careismatic leads the $3 billion domestic medical scrubs market with a portfolio of 17 brands and dominant positions in the wholesale and online segments. The restructuring transactions, effectuated through an RSA with Careismatic’s key stakeholders, led to a net reduction of over $765 million in funded debt and provided a cash infusion through in-court financing for long-term, sustainable growth. On May 31, 2024, the company’s Chapter 11 plan of reorganization was confirmed with the unanimous support of its voting creditors. On June 13, 2024 the plan became effective.
WeWork, Inc. — Representation of WeWork, Inc. and its debtor affiliates — the leading global flexible space provider — in their Chapter 11 cases in the United States Bankruptcy Court for the District of New Jersey. With approximately $17 billion in funded debt and lease obligations at the time of filing and posing complex, novel issues of international, regulatory, and foreign law, WeWork, with over 500 entities, is one of the largest jointly administered Chapter 11 cases in history. WeWork is prosecuting its Chapter 11 cases pursuant to a restructuring support agreement with holders representing approximately 96% of its secured notes and 100% of its secured letter of credit facility obligations. The agreement provides for the elimination of approximately $3 billion of WeWork’s funded debt and allows WeWork to rationalize its global commercial lease portfolio by rejecting unprofitable locations while reinvesting in its trophy properties.
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.
