Global Clean Energy Holdings, Inc. — Representation of Global Clean Energy Holdings, Inc. (GCEH) and 14 of its subsidiaries (“Global Clean”) in their prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Global Clean is a vertically integrated renewable fuels innovator that produces ultra-low carbon renewable fuels. Global Clean entered Chapter 11 to facilitate a debt-for-equity exchange with certain of the company’s key stakeholders, including lenders holding 96% of the company’s funded secured debt, who are supporting the Chapter 11 through a restructuring support agreement and an agreement to provide the company with approximately $200 million in new money debtor-in-possession capital.
Zips Car Wash, LLC — Representation of Zips Car Wash, LLC and certain of its affiliates in their prearranged Chapter 11 cases in the U.S Bankruptcy Court for the Northern District of Texas. Zips is one of the largest privately held car wash operators in the United States, with more than 260 locations across 23 states. Zips entered Chapter 11 to implement a pre-negotiated restructuring plan supported by 100% of its lenders, who hold over $650 million in debt obligations. Through the restructuring, Zips will eliminate $280 million of funded debt, shed hundreds of millions of dollars in lease liabilities and obtain $30 million in new money financing to fund the reorganized business.
Tupperware Brands Corporation — Representation of Tupperware Brands Corporation and its debtor affiliates (“Tupperware”) in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. Tupperware, an iconic American brand founded in 1947, entered Chapter 11 with approximately $810 million in funded debt. Through its Chapter 11 cases, Tupperware sold its brand name and core operating assets to a group of secured lenders in a transaction that will allow Tupperware to continue operating under new ownership with a right-sized footprint. The transaction will also enable Tupperware to preserve numerous employee, sales force, customer and vendor relationships.
