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Restructuring and Bankruptcy

Corporate distress can arise for many reasons—excess leverage, market dislocation, changes in technology, regulation or competition, mismanagement and outright fraud. Municipal distress can arise from many of these same reasons, as well as a result of labor and pension issues. Restructuring professionals respond to these situations in a variety of ways—from simple covenant waivers to complex out-of-court restructurings, prenegotiated and prepackaged bankruptcies, traditional and cross-border bankruptcies, 363 asset sales and structured liquidations.

Restructurings
The Firm represented JPMorgan Chase Bank and Deutsche Bank Trust Co. Americas as administrative agents in the merger, pursuant to prepackaged Chapter 11 cases, of Dex One and SuperMedia—one of the first ever mergers of two public companies through a prepackaged bankruptcy

 

Our Restructuring and Bankruptcy lawyers advise clients in all types of restructurings and bankruptcies, across virtually every industry, including automotive, energy, entertainment, financial, healthcare, media, real estate, retail, steel and telecom. Our deep experience allows us to provide effective, strategic advice to clients across every part of the capital structure, from holders of senior secured debt, to unsecured and subordinated debt, to equity.

Working collaboratively across the Firm’s strong practice areas, our Restructuring and Bankruptcy lawyers partner with lawyers in litigation, banking and credit, mergers and acquisitions, capital markets, tax and other areas requiring particular knowledge. Together, we form a highly effective team of experienced lawyers who are capable of finding novel solutions, crafting winning courtroom strategies and delivering the best results for our clients, which include agent banks, distressed investors, steering committees, Debtor-In-Possession and exit financing lenders, purchasers, equity sponsors, boards and debtors.

Our lawyers have played leading roles in some of the largest and most complex bankruptcies and out-of-court restructurings, including Adelphia Communications, Cengage Learning Inc., Chrysler, Citadel Broadcasting, Federal-Mogul Co., General Motors, Hawker Beechcraft, Idearc, Jefferson County (Chapter 9 case), Lear, Lee Industries, Lehman Brothers, Mark IV Industries, MF Global, MGM Studios, Oriental Trading, R.H. Donnelley, Reader’s Digest, Simmons Bedding, Six Flags, Smurfit Stone and Station Casinos.

“Simpson Thacher’s bankruptcy and restructuring practice is renowned as a formidable player in the industry”
Chambers USA 2013
Debtor Experience
Our recent debtor representations have included American Safety Razor, Motor Coach Industries, Qimonda North America and Qimonda Richmond

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