|
Covington’s creditor practice includes representing a wide variety of clients including bank agents and groups, creditors and ad hoc committees, financial institutions, indenture trustees, investment firms engaging in “loan to own” strategies and hedge funds and trade creditors. Our lawyers have represented major creditors or groups in many of the most high profile bankruptcy cases including Lehman Brothers, General Motors, Chrysler and General Growth Properties. Our lawyers have the experience and skills to coordinate the diverse interests of various constituencies. We are particularly adept at formulating and negotiating financing arrangements, including DIP and exit financing facilities, exchange offers, rights offerings and other elements of restructuring solutions on behalf of creditors. We work with creditor clients to review the debtor’s day-to-day operational issues including employee, cash management and contractual issues. We also have significant experience analyzing the debtor’s long term strategies, negotiating plans of reorganization and litigating inter-creditor disputes with a view to maximizing the client’s recovery.
We regularly draw upon the experience of our securities, finance, M&A, insurance, ERISA and tax lawyers to assist in developing the right strategy for each client. This approach allows us to find sophisticated solutions to complex restructurings and develop innovative approaches to creditor recoveries.
Representative Matters
- Eclipse Aviation: Represented the Ad Hoc Noteholders Committee in the Chapter 11 case of this private jet manufacturer.
- Ahern Rentals: Represent the Official Creditor’s Committee in the Chapter 11 case of this equipment rental company.
- Lehman Brothers: Represented Wilmington Trust Company as indenture trustee for $75 billion of bonds and as Co-Chair of the Official Creditors' Committee.
- Southaven: Represented Calyon Corporate and Investment Bank as agent for credit facilities to Southaven Power LLC, an independent power producer.
- Lear Corporation: Represented The Bank of New York Mellon Trust Company, N.A. as trustee of $1.3 billion senior unsecured notes.
- Grand Eagle: Represented the Secured Bank Group in the Chapter 11case of this company in the business of repairing transformers and other electrical transmission equipment.
|
|
|
|
|
|
|