Seward & Kissel has the preeminent corporate trust practice representing financial institutions with respect to secured and unsecured debt and loans in their role as indenture trustees and other agency and servicer capacities, and as administrative agents and collateral agents. The Corporate Restructuring & Bankruptcy group regularly works with the Corporate Trust group on restructurings, workouts, pre-packaged bankruptcies, cross-border proceedings, liquidation situations, exchange offers and consent solicitations, and all aspects of chapter 11, chapter 7 and chapter 15 bankruptcy cases. Our services include facilitating out-of-court restructurings, working with bondholder groups, preserving and defending bankruptcy claims and collateral, creditor committee, appointments, negotiating plan treatment, mediations and facilitating plan voting and distributions. We also have an active practice representing financial institutions as securitization trustees in commercial loan, residential mortgage, aircraft loans and consumer debt transactions.
- Intelsat. S&K represents the indenture trustee for senior unsecured notes in connection with the chapter 11 cases of the issuer and parent guarantors.
- McClatchy. S&K is currently representing the indenture trustee for two series of unsecured debentures in connection with the chapter 11 case of the issuer. S&K is advising the trustee in its role as a member and chairperson of the official committee of unsecured creditors.
- Murray Energy Holdings Co. S&K represents the indenture trustee for second lien notes in connection with the chapter 11 cases of the issuer and guarantors. S&K is advising the trustee in its role as an ex-officio member of the official committee of unsecured creditors, including with respect to a global settlement reached in the case and the negotiation and documentation of the chapter 11 plan of reorganization.
- Ditech Holding Corporation. S&K represented the largest private label securitization trustee, account bank and custodian in the chapter 11 bankruptcy cases of this forward mortgage servicer and reverse mortgage servicer. S&K worked with other securitization trustees, the debtors and the purchasers of the servicing business to ensure continuity of servicing and a smooth transition of servicing to the purchasers of the business and the preservation and treatment of claims.
- Sears Holdings Corporation. S&K represented the indenture trustee for PIK notes issued by the parent entity in the chapter 11 cases of the obligor and guarantors. We advised the trustee regarding the complex debt structure, sale of the debtors’ businesses and the plan process.
- Nine West Holdings, Inc. S&K represented the indenture trustee for two series of notes in the chapter 11 case of the issuer. S&K advised the trustee in its role as a member of the official committee of unsecured creditors and in connection with the protection of its claims and plan treatment.
- EXCO Resources, Inc. S&K represented the indenture trustee for two series of notes in the chapter 11 cases of the issuer and guarantors. S&K advised the trustee in its role as the representative of the largest constituency of unsecured creditors and a member of the official committee of unsecured creditors.
- FirstEnergy Solutions. S&K represented the owner trustee for six statutory trusts acting as owner-lessors of interests in a fossil fuel generation facility in connection with certain sale lease back transactions in the bankruptcy case of the operator-lessee. S&K worked with the other facility lease parties to resolve their claims in the bankruptcy case and to facilitate the transfer of full ownership of the facility to the reorganized debtors as contemplated by their plan of reorganization.
- Caesars Entertainment Operating Company, Inc. S&K represented the trustee for two issues of senior unsecured notes in the chapter 11 case of the issuer. S&K advised the trustee in its role as a member of the unsecured creditors’ committee and the protection of its claims and plan treatment.
Additionally, S&K has represented indenture trustees and agents in the bankruptcy cases of Toys “R” Us Property Company I, LLC, Orexigen Therapeutics, TerraVia Holdings, Inc., Ultra Petroleum Corp., and Quiksilver, Inc.