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    Global Problem Solving from Covington: Deal with Complex Problems Anywhere in the World

    • Apr 08, 2021

Ronald A. Hewitt

Of Counsel

New York +1 212 841 1220

  • About
  • Representative Matters
  • Credentials
  • About

    Ronald Hewitt has represented clients in all aspects of corporate restructuring, finance and capital markets transactions for over 15 years. Ron also represents participants in a wide range of derivatives transactions and related regulatory compliance.

    Ron has extensive experience representing clients in complex distressed and non-distressed financial transactions through all life-cycle stages, including advising:

    • Administrative Agents and Collateral Agents in all types of credit facilities, from small club deals to large syndicated transaction, including in out-of-court restructurings and bankruptcy cases (prepetition, DIP and exit);
    • Indenture Trustees and Escrow Agents in high yield debt issuances (secured and unsecured), escrow offerings, acquisitions and exchange transactions, and in bankruptcy court procedures, including on unsecured creditors’ committees; and
    • End-Users and Corporate Debt Issuers on convertible note hedges (capped calls, bond hedges and warrants) and other equity-linked transactions, in negotiation of ISDA master agreements and structured products, and on Dodd-Frank and EMIR compliance.

    Ron’s pro bono work includes advising low income debtors in connection with filing bankruptcy petitions and non-profit companies in connection with their formation and obtaining tax exempt status.

    Ron was recently named in Best Lawyers in America (Bankruptcy and Reorganization).

    Areas of Expertise

  • Practices and Industries
  • Representative Matters

    Non-Distressed Transactions: Represented administrative agents and indenture trustees in some of the largest and most complex transactions for public and portfolio companies, including capital raises, refinancings, leveraged buyouts, registered offerings, and private placements.

    • Canopy Growth Corporation: Administrative agent and collateral agent for a $750 million first lien credit facility.
    • SeaWorld Entertainment: Indenture trustees and collateral agents for $227.5 million first lien notes and $500 million second lien notes.
    • Shutterfly: Indenture trustee and collateral agent for $785 million of first-priority senior secured notes and the indenture trustee for $300 million of senior unsecured notes issued in connection with acquisition financing.
    • WorkHorse Group: Indenture trustee and collateral agent for $200 senior secured convertible notes issued by WorkHorse.

    Bankruptcy and Distressed Transactions: Represented trustees and agents in many of the most high profile distressed transactions bankruptcy cases, including formulating and negotiating financing arrangements, DIP and exit financing facilities, exchange offers, escrows, rights offerings, credit bids, plans of reorganization, and litigating intercreditor disputes.

    • Eagle Hospitality Trust: Represented the administrative agent and collateral agent under a $100 million debtor-in-possession credit facility.
    • Spanish Broadcasting: Indenture Trustee and Collateral Agent in connection with repayment $250 million of defaulted secured notes and related issuance of $310 million of new senior secured notes.
    • Ultra Petroleum: Prepetition Term Loan Agent, DIP Agent and Exit Term Loan Agent.
    • Verso Paper: Indenture Trustee for $450 million aggregate principal amount of notes as a member of the Official Committee of Unsecured Creditors.
    • Eastman Kodak Company: Prepetition Indenture Trustee and Junior DIP Agent, including in connection with a prepetition lien challenge brought by the Official Committee of Unsecured Creditors.
    • Ford Motor Company: Administrative agent under a $5.9 billion loan arrangement and reimbursement facility from the U.S. Department of Energy.
    • Chrysler: Financial Advisor in connection with the sale of substantially all of its assets under Section 363 of the Bankruptcy Code.

    Bespoke Agency Transactions: Represented financial institutions in myriad agency capacities in bespoke transactions and limited scope engagements, including as escrow agent, disbursing agent, paying agent, and collateral agent.

    • Kaiser Gypsum: Escrow Agent for settlement trusts under Chapter 11 plan.
    • Vivaro Corporation: Disbursing Agent for the creditor trust under Chapter 11 plan.
    • Clareant Mezzanine Partners, L.P.: Liquidating Trustee in connection with the dissolution of a private equity fund.

    Derivatives Transactions: Represented corporate end-users, government retirement plans and private pension funds in structuring, negotiation and execution of derivatives and hedging transactions.

    • Equity derivatives to hedge convertible or exchangeable notes issuances;
    • FX hedging programs;
    • ISDA and other master netting agreements;
    • Forward purchase agreements and
    • Accelerated Share Repurchase programs.

    Areas of Expertise

  • Credentials
    Education
    • Seton Hall University School of Law, J.D., 2005
        • magna cum laude
        • Order of the Coif
        • Seton Hall Law Review, Associate Editor
    • University of Minnesota, B.A., 2001
    Bar Admissions
    • New Jersey
    • New York
    Pro Bono
    • Represented a PTA in connection with obtaining non-profit tax exempt status.
    • Represented a New York not-for-profit company in obtaining tax exemption to promote green initiatives.
    • Represented a corporation in obtaining non-profit tax status to educate parents and distribute medical devices to children in the Dominican Republic. 
    • Assists and advises low income debtors in connection with filing bankruptcy petitions through Legal Services NYC’s New York City Bankruptcy Assistance Project. 
    • Represented a 10-year old in her successful appeal for Supplemental Security Income.

    Areas of Expertise

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