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An Acuris Company
Court Spotlight
Restructuring Advisory MandatesRestructuring Data Report
An overview of advisory hires in the restructuring and bankruptcy spaces
September 2017
Joshua FriedmanSenior Legal AnalystManager of Restructuring [email protected]
Jack M. Tracy IIHead of Legal Analysis, [email protected]
Rong [email protected]
Tim HynesHead of [email protected]
An Acuris Company
2
Restructuring Data Report Advisory Mandates
Table of Contents
General Introduction 3
Frequently Appointed Advisors – Counsel 5
Frequently Appointed Advisors – Financial Advisors/Investment Bankers 6
Frequently Appointed Advisors – Restructuring Advisors/Claims Agents 7
Mandates by Type and Sector 8
Mandates by Type 9
Mandates by Sector 15
Annex A: North America Advisory Mandates List—September 20
Disclaimer 38
An Acuris Company
3
Restructuring Data Report Advisory Mandates
General Information
General Introduction
The Debtwire Restructuring Advisory Mandates Report tracks and ranks advisors by the total number ofrepresentations announced during the month of September, covering both in-court and out-of-courtsituations. Debtwire sourced the advisory mandates highlighted in this report through proprietaryreporting, as well as public documents, including court filings.
The Restructuring Advisory Mandates Report breaks down mandates by the following categories:
• Lead Counsel;
• Local/Special Counsel;
• Financial Advisors/Investment Bankers;
• Restructuring Advisors and
• Claims Agents.
The report also tracks retentions of multiple reorganization parties in interest, including:
• Companies/Debtors;
• Official Committees;
• Lenders/Bondholders (including ad hoc groups);
• Loan Agents/Indenture Trustees and
• PE Sponsors.
This edition identifies a total of 165 advisory mandates related to 43 North American companiesexploring restructuring alternatives or currently engaged in Chapter 11 proceedings (20 in-court, 23out-of-court).*
* We have categorized companies as prime or middle market. Debtwire prime companies have at least USD 150m of funded debt commitments. Revolvers must total at least USD 150m to count towards the funded debt commitment. Debtwire middle market companies have less than USD 150m of funded debt.
An Acuris Company
4
Restructuring Data Report Advisory Mandates
General Information
General Introduction
To further break down September’s results, the mandates reported herein reflect:
• 116 law firm hires;
• 38 FA/IB appointments;
• Four restructuring advisor retentions and
• Seven claims agent engagements.
The combined advisor rankings treat representations of all parties-in-interest equally,whether the representation is for the company itself or another related party (ie, UCC, anad hoc group, etc).
In this edition, we have separately broken out the following types of representations in thecumulative rankings tables, as well as in separate league tables based on representationtype: (1) the company; (2) committees (unsecured creditors and equity) and (3)bonds/loans, which includes loan agents and indenture trustees, ad hoc groups, andsignificant individual lenders or bondholders.
We also provide general mandates information regarding the sector of the restructuringcompanies.
The rankings data in this report provides the respective category leaders. Theaccompanying Excel file includes all of the retention data for 2017 year-to-date.
An Acuris Company
5
Restructuring Data Report Advisory Mandates
Frequently Appointed Advisors
LEAD COUNSEL. This category tracks the main restructuring/bankruptcy counsel retained by a party. Kirkland &Ellis was alone at the top of the lead counsel leaderboard with five company mandates in September, two clear ofthe rest of the field. Four other firms tied for second, with three mandates each: Davis Polk and Paul Weissobtained three financial creditor hires, while Jones Day and Kramer Levin focused on company-side and UCCmandates, respectively.
LOCAL/SPECIAL COUNSEL. This category tracks law firms retained as local counsel or special counsel (ie, for aspecific purpose such as conflicts or taxes). Three law firms obtained more than one mandate in this category.
September 2017 Mandates: Lead Counsel
Lead Counsel EngagementsPrime / Middle
MarketCompany Official Committees Bond / Loan
Kirkland & Ellis 5 4/1 5 0 0
Davis Polk & Wardwell 3 3/0 0 0 3
Jones Day 3 3/0 2 0 1
Kramer Levin Naftalis & Frankel 3 3/0 0 2 1
Paul, Weiss, Rifkind, Wharton & Garrison 3 2/1 0 0 3
Lowenstein Sandler 2 0/2 0 2 0
Milbank, Tweed, Hadley & McCloy 2 2/0 1 0 1
Skadden, Arps, Slate, Meagher & Flom 2 2/0 1 0 1
Frequently Appointed Advisors: Counsel
September 2017 Mandates: Local Counsel
Local/Special Counsel EngagementsPrime / Middle
MarketCompany Official Committees Bond / Loan
Troutman Sanders 2 1/1 1 0 1
Whiteford, Taylor & Preston 2 1/1 0 1 1
Young Conaway Stargatt & Taylor 2 1/1 1 0 1
An Acuris Company
6
Restructuring Data Report Advisory Mandates
Frequently Appointed Advisors
FINANCIAL ADVISORS (FA)/INVESTMENT BANKERS (IB). This category puts both FA and IB representations into onecategory, in order to show the combined mandates of the firms operating in the financial restructuring advisoryspace.
There was a four-way tie at the top of the financial advisor/investment banker table: Berkeley Research Groupand Huron Consulting Group each obtained three creditor-side mandates, while Guggenheim and HoulihanLokey’s respective three mandates were split between companies and creditors. Six other firms obtained morethan one mandate.
September 2017 Mandates: Financial Advisors / Investment Bankers
Financial Advisor / Investment Banker EngagementsPrime / Middle
MarketCompany
Official Committees
Bond / Loan
Berkeley Research Group (BRG) 3 2/1 0 1 2
Guggenheim 3 2/1 2 0 1
Houlihan Lokey 3 2/1 1 0 2
Huron Consulting Group 3 1/2 0 1 2
Detring Energy Advisors 2 2/0 2 0 0
Evercore 2 2/0 2 0 0
FTI Consulting 2 2/0 0 2 0
Moelis & Co 2 2/0 0 0 2
PJT Partners 2 2/0 1 0 1
Rothschild 2 2/0 1 0 1
Frequently Appointed Advisors: Financial Advisors / Investment Bankers
An Acuris Company
7
Restructuring Data Report Advisory Mandates
Frequently Appointed Advisors
CLAIMS AGENTS. This category tracks administrative and claims agents that debtors and other parties-in-interest inChapter 11 cases have retained.
September was another fairly slow month for the claims agent market. Only seven new mandates were announced, a slightincrease from five in August. Prime Clerk led the way with three mandates, followed closely by JND CorporateRestructuring’s two middle market mandates.
September 2017 Mandates: Claims Agents
Claims Agent Engagements Prime / Middle Market
Prime Clerk 3 2/1
JND Corporate Restructuring 2 0/2
Rust Consulting/Omni Bankruptcy 1 0/1
Donlin, Recano & Co 1 1/0
Frequently Appointed Advisors: Claims Agents
RESTRUCTURING ADVISORS. The restructuring advisor category segregates representations involving operationalcomponents from representations that are purely FA/IB mandates.
The restructuring advisory space was exceedingly quiet in September, with only four new mandates. Alvarez & Marsal,however, was the dominant advisor this month, with three Debtwire Prime engagements.
Frequently Appointed Advisors: Restructuring Advisors
September 2017 Mandates: Restructuring Advisor
Restructuring Advisor Engagements Prime / Middle Market
Alvarez & Marsal 3 3/0
Berkeley Research Group (BRG) 1 0/1
An Acuris Company
8
Restructuring Data Report Advisory Mandates
Type and Sector
Mandates: Type and Sector
In order to provide a more robust picture, this report provides general mandatesinformation based on the sector of the restructuring company and YTD firm rankingsbased on the party represented, including:
• Company-side mandates;
• Committee representations, including both UCC and equity committees; and
• Financial creditor hires, including loan agents, indentures trustees, ad hoc groups, andsignificant bondholders and lenders.
We have provided separate league tables for Lead Counsel, Local/Special Counsel andFinancial Advisor/I-Banker, based on whether the representation was: (1) on the companyside, (2) for a committee or (3) for a financial creditor. We present the YTD rankings underthe role the advisor played (ie, lead counsel), not the party represented (ie, committee).
In this edition, we also provide charts tracking monthly mandates in the energy, retail andhealthcare sectors for January 2016–September 2017.
In past editions, we also provided monthly rankings based on company-side and sector-specific representations. For September 2017, 63 of the 165 total mandates were on thecompany-side, while 95 representations were in the retail sector.
Readers can use the accompanying Excel to make monthly and further YTD comparisons.
An Acuris Company
Court Spotlight
Mandates by Type
2017 YTD
An Acuris Company
10
Restructuring Data Report Advisory Mandates
Type and Sector
Total Representations: September 2017
Representations Lead Counsel Local/Special Counsel
Financial Advisor / Investment
Banker
Restructuring Advisor
Claims Agent Grand Total
Company 18 27 20 4 7 76
Lenders / Bondholders 24 8 12 0 0 44
Agent / Trustee 10 8 0 0 0 18
UCC 9 7 5 0 0 21
Other 3 2 1 0 0 6
Total 64 52 38 4 7 165
Prime/Middle Market Representations: September 2017
Representations Lead Counsel Local/Special Counsel
Financial Advisor / Investment
Banker
Restructuring Advisor
Claims Agent Grand Total
Company 11/7 20/7 13/7 3/1 3/4 50/26
Lenders / Bondholders 16/8 6/2 10/2 0/0 0/0 32/12
Agent / Trustee 8/2 6/2 0/0 0/0 0/0 14/4
UCC 3/6 3/4 2/3 0/0 0/0 8/13
Other 1/2 1/1 1/0 0/0 0/0 3/3
Total 37/25 36/16 26/12 3/1 3/4 107/58
An Acuris Company
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Restructuring Data Report Advisory Mandates
Type and Sector
Total Representations: YTD
Representations Lead Counsel Local/Special Counsel
Financial Advisor / Investment
Banker
Restructuring Advisor
Claims Agent Grand Total
Company 195 144 241 80 92 752
Lenders / Bondholders 295 100 77 0 0 472
Agent / Trustee 106 44 10 0 0 160
UCC 82 55 62 0 0 199
Other 38 19 7 0 0 64
Total 716 363 397 80 92 1,647
Prime/Middle Market Representations: YTD
Representations Lead Counsel Local/Special Counsel
Financial Advisor / Investment
Banker
Restructuring Advisor
Claims Agent Grand Total
Company 86/109 77/67 122/119 41/39 42/50 368/384
Lenders / Bondholders 154/141 47/53 65/12 0/0 0/0 266/206
Agent / Trustee 74/32 29/15 5/5 0/0 0/0 108/52
UCC 24/58 17/38 24/38 0/0 0/0 65/134
Other 28/10 15/4 7/0 0/0 0/0 50/14
Total 366/350 185/177 223/174 41/39 42/50 857/790
An Acuris Company
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Restructuring Data Report Advisory Mandates
Mandates by Type
Company
Lead Counsel Engagements Prime / Middle Market
Kirkland & Ellis 21 17/4
Weil, Gotshal & Manges 15 12/3
Jones Day 6 6/0
DLA Piper 5 2/3
Simpson Thacher & Bartlett 5 5/0
Pachulski Stang Ziehl & Jones 4 2/2
Skadden, Arps, Slate, Meagher & Flom 4 3/1
Committee
Lead Counsel Engagements Prime / Middle Market
Lowenstein Sandler 10 0/10
Cooley 9 2/7
Brown Rudnick 6 4/2
Pachulski Stang Ziehl & Jones 6 3/3
Fox Rothschild 4 0/4
Akin Gump Strauss Hauer & Feld 3 3/0
Heller, Draper, Patrick, Horn & Dabney 3 0/3
Kelley Drye & Warren 3 1/2
Lead Counsel Engagements Prime / Middle Market
Morgan, Lewis & Bockius 14 10/4
Paul, Weiss, Rifkind, Wharton & Garrison 14 12/2
White & Case 13 13/0
Milbank, Tweed, Hadley & McCloy 11 10/1
Akin Gump Strauss Hauer & Feld 9 9/0
Davis Polk & Wardwell 9 9/0
Greenberg Traurig 8 0/8
Holland & Knight 7 2/5
Jones Day 7 7/0
Kirkland & Ellis 7 5/2
Ropes & Gray 7 6/1
Stroock & Stroock & Lavan 7 7/0
Mandates by Type: YTD Lead Counsel Representation
An Acuris Company
13
Restructuring Data Report Advisory Mandates
Mandates by Type
Company
Local / Special Counsel Engagements Prime / Middle Market
Richards, Layton & Finger 8 6/2
Morris, Nichols, Arsht & Tunnell 6 2/4
Young Conaway Stargatt & Taylor 6 3/3
Haynes and Boone 3 2/1
Kutak Rock 3 2/1
Munger, Tolles & Olson 3 3/0
Saul Ewing Arnstein & Lehr 3 0/3
Committee
Local / Special Counsel Engagements Prime / Middle Market
Whiteford, Taylor & Preston 6 2/4
Klehr Harrison Harvey Branzburg 3 2/1
Saul Ewing Arnstein & Lehr 3 1/2
The Rosner Law Group 3 3/0
Barnes & Thornburg 2 0/2
Cole Schotz 2 1/1
Freeborn & Peters 2 0/2
Gellert Scali Busenkell & Brown 2 0/2
Pachulski Stang Ziehl & Jones 2 0/2
Shaw Fishman Glantz & Towbin 2 0/2
Bond / Loan
Local / Special Counsel Engagements Prime / Middle Market
Young Conaway Stargatt & Taylor 11 6/5
Ashby & Geddes 7 1/6
Richards, Layton & Finger 6 1/5
Morris James 5 2/3
Reed Smith 5 2/3
Drinker Biddle & Reath 4 0/4
Morris, Nichols, Arsht & Tunnell 4 2/2
Mandates by Type: TYD Local / Special Counsel Representation
An Acuris Company
14
Restructuring Data Report Advisory Mandates
Mandates by Type
Company
FA / I - Banker Engagements Prime / Middle Market
Houlihan Lokey 18 9/9
Evercore 13 12/1
Moelis & Co 11 9/2
Lazard 10 7/3
PJT Partners 10 10/0
Alvarez & Marsal 9 7/2
Guggenheim 9 5/4
Jefferies 8 7/1
Goldman Sachs 7 6/1
Perella Weinberg Partners / Tudor, Pickering Holt & Co 7 6/1
Committee
FA / I - Banker Engagements Prime / Middle Market
FTI Consulting 11 6/5
Province 10 2/8
Alvarez & Marsal 5 4/1
Berkeley Research Group (BRG) 5 3/2
CohnReznick 5 1/4
Emerald Capital Advisors 3 0/3
Gavin/Solmonese 3 1/2
Stifel / Miller Buckfire 3 3/0
Bond / Loan
FA / I - Banker Engagements Prime / Middle Market
Houlihan Lokey 15 14/1
Moelis & Co 9 8/1
PJT Partners 7 7/0
Ducera Partners 5 5/0
FTI Consulting 4 3/1
GLC Advisors & Co 4 3/1
Guggenheim 4 4/0
Opportune 3 2/1
Rothschild 3 3/0
Mandates by Type: YTD FA/ I - Banker Representation
An Acuris Company
Court Spotlight
Sector Trends
January 2016 – September 2017
An Acuris Company
16
Restructuring Data Report Advisory Mandates
Type and Sector
September 2017 Mandates
Sector Lead Counsel Local/Special Counsel
Financial Advisor /
Investment Banker
Restructuring Advisor
Claims Agent Grand TotalNumber of Companies
Retail 33 35 21 2 4 95 13
Energy 16 10 12 1 1 40 16
Consumer 4 4 1 0 2 11 3
Construction 2 0 0 0 0 2 1
Industrial Products and Services
2 0 0 0 0 2 1
Telecom 2 1 0 0 0 3 1
Automotive 1 0 0 0 0 1 1
Chemicals 1 1 1 1 0 4 1
Financial Services 1 0 0 0 0 1 1
Utilities 1 1 0 0 0 2 1
Alternative Energy 0 1 0 0 0 1 1
Medical 0 0 1 0 0 1 1
Mining 0 0 1 0 0 1 1
Transportation 0 0 1 0 0 1 1
Total 63 53 38 4 7 165 43
An Acuris Company
17
Restructuring Data Report Advisory Mandates
Sector Trend
Key Analytics
Advisory Mandates by Sector: Retail
0
10
20
30
40
50
60
70
80
90
100
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17
Prime 0 4 19 2 6 1 4 4 1 19 23 11 10 12 21 20 14 24 21 4 57
Middle Market 10 11 5 23 16 25 13 0 14 2 15 12 19 41 44 11 25 4 8 4 38
Total 10 15 24 25 22 26 17 4 15 21 38 23 29 53 65 31 39 28 29 8 95
An Acuris Company
0
20
40
60
80
100
120
140
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17
Prime 31 55 49 47 106 83 65 27 21 50 39 22 28 17 24 12 25 18 14 11 32
Middle Market 4 28 28 41 22 16 28 18 8 15 8 9 16 6 11 11 3 9 7 23 8
Total 35 83 77 88 128 99 93 45 29 65 47 31 44 23 35 23 28 27 21 34 40
18
Restructuring Data Report Advisory Mandates
Sector Trend
Key Analytics
Advisory Mandates by Sector: Energy
An Acuris Company
0
5
10
15
20
25
30
35
Jan-16 Feb-16Mar-16Apr-16May-16Jun-16 Jul-16 Aug-16 Sep-16 Oct-16Nov-16Dec-16 Jan-17 Feb-17Mar-17Apr-17May-17Jun-17 Jul-17 Aug-17 Sep-17
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17
Prime 0 0 0 1 2 0 3 0 2 1 5 5 3 0 2 9 13 10 1 2 1
Middle Market 6 4 20 8 6 5 3 1 0 0 4 8 10 10 24 24 15 8 3 2 0
Total 6 4 20 9 8 5 6 1 2 1 9 13 13 10 26 33 28 18 4 4 1
19
Restructuring Data Report Advisory Mandates
Sector Trend
Key Analytics
Advisory Mandates by Sector: Medical
An Acuris Company
Court Spotlight
Annex A:
North American Advisory Mandates Detail
September 2017
An Acuris Company
21
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
99 Cents Only Stores
Prime 899 US Out-of-Court Retail
GuggenheimFinancial Advisor / Investment Banker
Company99 Cents Only Stores management is working with Guggenheim and Deutsche Bank to pursue liability management exercises.
19-Sep-17
Deutsche BankFinancial Advisor / Investment Banker
Company99 Cents Only Stores management is working with Guggenheim and Deutsche Bank to pursue liability management exercises.
19-Sep-17
Milbank, Tweed, Hadley & McCloy
Lead Counsel Company99 Cents Only has retained Milbank Tweed and ProskauerRose, alongside its hire of Guggenheim Partners as restructuring advisor.
20-Sep-17
Proskauer Rose Lead Counsel Company99 Cents Only has retained Milbank Tweed and ProskauerRose, alongside its hire of Guggenheim Partners as restructuring advisor.
20-Sep-17
AbengoaBioenergy Biomass of Kansas
Prime N/A US In-CourtAlternative
EnergyDrinker Biddle &
ReathLocal / Special
CounselCompany
Abengoa Bioenergy Biomass of Kansas filed for Involuntary Chapter 7 bankruptcy protection in the District of Kansas on 23 March 2016. The docket number is 16-10446.
26-Sep-17
AerosolesMiddle Market
72 US In-Court Retail
Ropes & Gray Lead Counsel CompanyAerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
BayardLocal / Special
CounselCompany
Aerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
Prime Clerk Claims Agent CompanyAerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
Berkeley Research Group (BRG)
Restructuring Advisor
CompanyAerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
ProvinceFinancial Advisor / Investment Banker
Unsecured Creditors
Committee
Aerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
26-Sep-17
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
AerosolesMiddle Market
72 US In-Court Retail
Cooley Lead CounselUnsecured Creditors
Committee
Aerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
26-Sep-17
Gellert Scali Busenkell & Brown
Local / Special Counsel
Unsecured Creditors
Committee
Aerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
26-Sep-17
Paul Hastings Lead Counsel Agent / TrusteeAerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
Young Conaway Stargatt & Taylor
Local / Special Counsel
Agent / TrusteeAerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
Choate, Hall & Stewart
Lead Counsel Agent / TrusteeAerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
Womble Carlyle Sandridge & Rice
Local / Special Counsel
Agent / TrusteeAerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
15-Sep-17
Weil, Gotshal & Manges
Lead CounselLenders /
Bondholders
Aerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
19-Sep-17
Richards, Layton & Finger
Local / Special Counsel
Lenders / Bondholders
Aerogroup International filed for Chapter 11 bankruptcy protection in the District of Delaware on 15 September 2017. The docket number is 17-11962.
19-Sep-17
Alevo USAMiddle Market
N/A US In-Court Energy Northen Blue Lead CounselUnsecured Creditors
Committee
Alevo USA filed for Chapter 11 bankruptcy protection in the Middle District of North Carolina on 21 August 2017. The docket number is 17-50876.
18-Sep-17
Algeco Scotsman Prime 3,256 US Out-of-Court ConstructionPaul, Weiss, Rifkind, Wharton & Garrison
Lead CounselLenders /
Bondholders
Paul Weiss and Sullivan & Cromwell represent the group, which holds approximately two-thirds of Algeco’s USD 745m 10.75% unsecured notes due October 2019, as well as a substantial amount of the company’s secured indebtedness.
6-Sep-17
22
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Algeco Scotsman Prime 3,256 US Out-of-Court Construction Sullivan & Cromwell Lead CounselLenders /
Bondholders
Paul Weiss and Sullivan & Cromwell represent the group, which holds approximately two-thirds of Algeco’s USD 745m 10.75% unsecured notes due October 2019, as well as a substantial amount of the company’s secured indebtedness.
6-Sep-17
Bi-Lo Prime 1,596 US Out-of-Court Retail
Moelis & CoFinancial Advisor / Investment Banker
Lenders / Bondholders
An ad hoc group of Bi-Lo holdco and secured bondholders has organized with financial advisor Moelis.
26-Sep-17
Morrison & Foerster Lead CounselLenders /
Bondholders
Fidelity, one of the group’s largest holders, has been working with Morrison & Foerster as legal counsel, with the expectation that the firm will represent the broader crossholder group.
26-Sep-17
Bon-Ton Store Prime 986 US Out-of-Court Retail
PJT PartnersFinancial Advisor / Investment Banker
CompanyBon-Ton Stores tapped PJT Partners as a restructuring adviser in an effort to rein in its USD 900m debt load.
7-Sep-17
Jones Day Lead CounselLenders /
Bondholders
Certain holders of Bon-Ton’s USD 350m 8% second lien notes due 2021 have been consulting with legal counsel at Jones Day.
25-Sep-17
Bonanza Creek Energy
PrimeN/AN/A
USUS
Out-of-Court Energy
EvercoreFinancial Advisor / Investment Banker
Company
Bonanza Creek Energy is nearing the end of a formal sale process, and the list of potential suitors is down to a few strategic and private equity bidders. Evercore and Kirkland & Ellis are advising on the sale process.
27-Sep-17
Kirkland & Ellis Lead Counsel Company
Bonanza Creek Energy is nearing the end of a formal sale process, and the list of potential suitors is down to a few strategic and private equity bidders. Evercore and Kirkland & Ellis are advising on the sale process.
27-Sep-17
California Resources
Prime 5,069 US Out-of-Court Energy Goldman SachsFinancial Advisor / Investment Banker
Company
California Resources is working with investment bank Goldman Sachs to lead a liability management transaction aimed at freeing up some of its secured debt capacity and issuing a new term loan.
20-Sep-17
Charlotte Russe Prime 230 US Out-of-Court RetailBerkeley Research
Group (BRG)Financial Advisor / Investment Banker
Lenders / Bondholders
An ad hoc group of Charlotte Russe lenders has selected Berkeley Research Group (BRG) as an advisor.
1-Sep-17
Charming Charlie
Middle Market
210 US Out-of-Court RetailHuron Consulting
GroupFinancial Advisor / Investment Banker
Lenders / Bondholders
Charming Charlie's lenders have signed off on an amendment loosening a maximum leverage test through 2018, and the lenders worked with advisors Huron and Loughlin Management Partners and Paul Weiss as legal counsel.
7-Sep-17
23
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Charming Charlie
Middle Market
210 US Out-of-Court Retail
Paul, Weiss, Rifkind, Wharton & Garrison
Lead CounselLenders /
Bondholders
Charming Charlie's lenders have signed off on an amendment loosening a maximum leverage test through 2018, and the lenders worked with advisors Huron and Loughlin Management Partners and Paul Weiss as legal counsel.
7-Sep-17
LoughlinManagement Partners + Co
Financial Advisor / Investment Banker
Lenders / Bondholders
Charming Charlie's lenders have signed off on an amendment loosening a maximum leverage test through 2018, and the lenders worked with advisors Huron and Loughlin Management Partners and Paul Weiss as legal counsel.
7-Sep-17
Custom EcologyMiddle Market
195 US Out-of-Court Transportation Houlihan LokeyFinancial Advisor / Investment Banker
CompanyCustom Ecology (dba Stafford Logistics) engaged HoulihanLokey last month as it navigates an oncoming liquidity crunch.
26-Sep-17
Destination Maternity
Middle Market
36 US Out-of-Court Retail GuggenheimFinancial Advisor / Investment Banker
CompanyDestination Maternity has re-engaged Guggenheim Securities and mandated the bank to help management pursue strategic and financial alternatives.
27-Sep-17
EV Energy Prime 604 US Out-of-Court Energy
Perella Weinberg Partners / Tudor,
Pickering Holt & Co
Financial Advisor / Investment Banker
Company
EV Energy Partners (EVEP) has retained Perella Weinberg Partners as financial advisors, and Kirkland & Ellis as legal advisor to assist with a restructuring of the overleveraged company.
14-Sep-17
Kirkland & Ellis Lead Counsel Company
EV Energy Partners (EVEP) has retained Perella Weinberg Partners as financial advisors, and Kirkland & Ellis as legal advisor to assist with a restructuring of the overleveraged company.
14-Sep-17
EXCO Resources
Prime 1,125 US Out-of-Court Energy
Alvarez & MarsalRestructuring
AdvisorCompany
The company, at the direction of the audit committee, has retained PJT Partners LP as financial advisors and Alvarez & Marsal North America, LLC as restructuring advisors.
7-Sep-17
Brown Rudnick Lead CounselLenders /
Bondholders
An ad-hoc group of EXCO Resources unsecured bondholders is working with Brown Rudnick as legal advisor to assist with restructuring negotiations.
15-Sep-17
Exelco North America
Prime N/A US In-Court Consumer
Hughes Hubbard & Reed
Lead Counsel CompanyExelco North America filed for Chapter 11 bankruptcy protection in the District of Delaware on 27 September 2017. The docket number is 17-12029.
26-Sep-17
Young Conaway Stargatt & Taylor
Local / Special Counsel
CompanyExelco North America filed for Chapter 11 bankruptcy protection in the District of Delaware on 27 September 2017. The docket number is 17-12029.
26-Sep-17
24
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Exelco North America
Prime N/A US In-Court Consumer Donlin, Recano & Co Claims Agent CompanyExelco North America filed for Chapter 11 bankruptcy protection in the District of Delaware on 27 September 2017. The docket number is 17-12029.
26-Sep-17
FerrellgasPartners
Prime 2,021 US Out-of-Court Energy Bracewell Lead Counsel CompanyFerrellgas Partners recently brought on legal counsel Bracewell for assistance in tackling its over-levered balance sheet.
28-Sep-17
FieldwoodEnergy
Prime
1,118
US Out-of-Court EnergyDavis Polk &
WardwellLead Counsel
Lenders / Bondholders
An ad hoc group of Fieldwood Energy second lien lenders led by Mudrick Capital has engaged Davis Polk as legal counsel.
29-Sep-17
Four Corners Petroleum
Prime N/A US Out-of-Court EnergyDetring Energy
AdvisorsFinancial Advisor / Investment Banker
CompanyFour Corners Petroleum engaged Detring Energy Advisors to sell its conventional holdings in Wyoming’s Powder River basin.
12-Sep-17
GST AutoLeather
Middle Market
170 US In-Court Automotive Kirkland & Ellis Lead Counsel CompanyThe volatile dynamic, which is exacerbated by an earnings decline trend, has prompted management to enlist counsel Kirkland & Ellis to explore workout options.
11-Sep-17
Hard Rock Exploration
Middle Market
30 US In-Court Energy
Fowler Bell Lead Counsel CompanyHard Rock Exploration filed for Chapter 11 bankruptcy protection in the Southern District of West Virginia on 5 September 2017. The docket number is 17-20459.
5-Sep-17
Hoyer, Hoyer & SmithLocal / Special
CounselCompany
Hard Rock Exploration filed for Chapter 11 bankruptcy protection in the Southern District of West Virginia on 5 September 2017. The docket number is 17-20459.
5-Sep-17
The Getty Law GroupLocal / Special
CounselCompany
Hard Rock Exploration filed for Chapter 11 bankruptcy protection in the Southern District of West Virginia on 5 September 2017. The docket number is 17-20459.
5-Sep-17
Simms Law OfficeLocal / Special
CounselCompany
Hard Rock Exploration filed for Chapter 11 bankruptcy protection in the Southern District of West Virginia on 5 September 2017. The docket number is 17-20459.
5-Sep-17
Buchanan Ingersoll & Rooney
Lead CounselLenders /
Bondholders
Hard Rock Exploration filed for Chapter 11 bankruptcy protection in the Southern District of West Virginia on 5 September 2017. The docket number is 17-20459.
6-Sep-17
25
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
IronGate Energy Services
Prime 230 US Out-of-Court EnergyIntrepid Financial
PartnersFinancial Advisor / Investment Banker
Sponsor / Owner
IronGate Energy Services sponsor Clearlake Capital is working with Intrepid Financial Partners on a capital structure resolution after a forbearance expired all the way back in November 2016.
29-Sep-17
Jyoti AmericasMiddle Market
8 US In-CourtIndustrial
Products & Services
Okin & Adams Lead Counsel CompanyJyoti Americas filed for Chapter 7 bankruptcy protection in the Southern District of Texas on 4 September 2017. The docket number is 17-35240.
4-Sep-17
Nathan SommersJacobs
Lead CounselLenders /
Bondholders
Jyoti Americas filed for Chapter 7 bankruptcy protection in the Southern District of Texas on 4 September 2017. The docket number is 17-35240.
4-Sep-17
Knight Oil ToolsMiddle Market
200 US In-Court Energy
Huron Consulting Group
Financial Advisor / Investment Banker
Unsecured Creditors
Committee
Knight Oil Tools’ unsecured creditors committee (UCC) enlisted Huron as financial advisor. The UCC, which is currently comprised of NLB Corp and EDI Environmental Services, also hired Baker Donelson as legal counsel.
14-Sep-17
Baker, Donelson, Bearman, Caldwell &
BerkowitzLead Counsel
Unsecured Creditors
Committee
Knight Oil Tools’ unsecured creditors committee (UCC) enlisted Huron as financial advisor. The UCC, which is currently comprised of NLB Corp and EDI Environmental Services, also hired Baker Donelson as legal counsel.
14-Sep-17
La Paloma Generating Company
Prime 524 US In-Court Utilities
The Rosner Law Group
Local / Special Counsel
Unsecured Creditors
Committee
La Paloma Generating Company filed for Chapter 11 bankruptcy protection in the District of Delaware on 6 December 2016. The docket number is 16-12700.
26-Sep-17
Brinkman Portillo Ronk
Lead CounselUnsecured Creditors
Committee
La Paloma Generating Company filed for Chapter 11 bankruptcy protection in the District of Delaware on 6 December 2016. The docket number is 16-12700.
26-Sep-17
Mossi & GhisolfiGroup
Prime 1,925US /
Other Country
In-Court Chemicals
Alvarez & MarsalRestructuring
AdvisorCompany
The Italian petrochemical giant mandated Alvarez & Marsal as CRO and to provide advisory services, and retained Italian legal firm Gianni Origoni Grippo Cappelli & Partners (GOP) to advise the Italy-based business, as well as Jones Day to advise its US division.
19-Sep-17
Jones Day Lead Counsel Company
The Italian petrochemical giant mandated Alvarez & Marsal as CRO and to provide advisory services, and retained Italian legal firm Gianni Origoni Grippo Cappelli & Partners (GOP) to advise the Italy-based business, as well as Jones Day to advise its US division.
19-Sep-17
Gianni Origoni Grippo Cappelli & Partners
Local / Special Counsel
Company
The Italian petrochemical giant mandated Alvarez & Marsal as CRO and to provide advisory services, and retained Italian legal firm Gianni Origoni Grippo Cappelli & Partners (GOP) to advise the Italy-based business, as well as Jones Day to advise its US division.
19-Sep-17
26
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Mossi & GhisolfiGroup
Prime 1,925US / Other
CountryIn-Court Chemicals Rothschild
Financial Advisor / Investment Banker
Company
The Italian petrochemical giant mandated Alvarez & Marsal as CRO and to provide advisory services, and retained Italian legal firm Gianni Origoni Grippo Cappelli & Partners (GOP) to advise the Italy-based business, as well as Jones Day to advise its US division.
19-Sep-17
Nine West Prime 1,925 US Out-of-Court Retail
Davis Polk & Wardwell
Lead CounselLenders /
Bondholders
KKR and Farmstead Capital Group of secured lenders has hired counsel Davis Polk to go along with financial advisor Ducera.
14-Sep-17
GuggenheimFinancial Advisor / Investment Banker
Lenders / Bondholders
A separate crossover group of unsecured and secured lenders has hired Guggenheim and King & Spalding.
14-Sep-17
King & Spalding Lead CounselLenders /
BondholdersA separate crossover group of unsecured and secured lenders has hired Guggenheim and King & Spalding.
14-Sep-17
Moelis & CoFinancial Advisor / Investment Banker
Lenders / Bondholders
Creditor Brigade Capital has enlisted Moelis and Kramer Levin to represent its own interests.
14-Sep-17
Kramer Levin Naftalis & Frankel
Lead CounselLenders /
BondholdersCreditor Brigade Capital has enlisted Moelis and Kramer Levin to represent its own interests.
14-Sep-17
Northern Oil & Gas
Prime 700 US Out-of-Court Energy
Jones Day Lead Counsel CompanyNorthern Oil and Gas is working with legal counsel Jones Day and financial advisor Evercore to explore a series of liability management strategies.
29-Sep-17
EvercoreFinancial Advisor / Investment Banker
CompanyNorthern Oil and Gas is working with legal counsel Jones Day and financial advisor Evercore to explore a series of liability management strategies.
25-Sep-17
Payless ShoeSource
Prime 665 US In-Court RetailMilbank, Tweed, Hadley & McCloy
Lead CounselLenders /
Bondholders
Payless Holdings filed for Chapter 11 bankruptcy protection in the Eastern District of Missouri on 4 April 2017. The docket number is 17-42267.
21-Sep-17
PerfumaniaHoldings
Middle Market
199 US In-Court RetailRichards, Layton & Finger
Lead Counsel Sponsor / OwnerPerfumania filed for Chapter 11 bankruptcy protection in the District of Delaware on 26 August 2017. The docket number is 17-11794.
25-Sep-17
27
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
PerfumaniaHoldings
Middle Market
199 US In-Court Retail
Morris, Nichols, Arsht& Tunnell
Local / Special Counsel
Sponsor / OwnerPerfumania filed for Chapter 11 bankruptcy protection in the District of Delaware on 26 August 2017. The docket number is 17-11794.
8-Sep-17
Nastasi Partners Lead Counsel Sponsor / OwnerPerfumania filed for Chapter 11 bankruptcy protection in the District of Delaware on 26 August 2017. The docket number is 17-11794.
8-Sep-17
Portrait Innovations
Middle Market
15 US In-Court Retail
Rayburn Cooper & Durham
Lead Counsel CompanyPortrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
1-Sep-17
Troutman SandersLocal / Special
CounselCompany
Portrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
1-Sep-17
Piper JaffrayFinancial Advisor / Investment Banker
CompanyPortrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
1-Sep-17
Rust Consulting/Omni
BankruptcyClaims Agent Company
Portrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
1-Sep-17
K&L Gates Lead CounselLenders /
Bondholders
Portrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
1-Sep-17
Hull & ChandlerLocal / Special
Counsel
Unsecured Creditors
Committee
Portrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
26-Sep-17
Kelley Drye & Warren Lead CounselUnsecured Creditors
Committee
Portrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
25-Sep-17
The Finley GroupFinancial Advisor / Investment Banker
CompanyPortrait Innovations filed for Chapter 11 bankruptcy protection in the Western District of North Carolina on 1 September 2017. The docket number is 17-31455.
1-Sep-17
28
Restructuring Data Report Advisory Mandates
Advisory Mandates: September 2017
NA Advisory Mandates
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Seadrill Prime 8,021US /
Other Country
In-Court Energy
Jackson WalkerLocal / Special
CounselCompany
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
12-Sep-17
AdvokatfirmaetThommessen
Local / Special Counsel
CompanySeadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
12-Sep-17
Conyers Dill & Pearman
Local / Special Counsel
CompanySeadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
12-Sep-17
Prime Clerk Claims Agent CompanySeadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
12-Sep-17
Orrick, Herrington & Sutcliffe
Lead Counsel Board of DirectorsSeadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
13-Sep-17
Kramer Levin Naftalis& Frankel
Lead CounselUnsecured Creditors
Committee
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
27-Sep-17
Cole SchotzLocal / Special
Counsel
Unsecured Creditors
Committee
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
28-Sep-17
Willkie Farr & Gallagher
Local / Special Counsel
Board of DirectorsSeadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
13-Sep-17
FTI ConsultingFinancial Advisor / Investment Banker
Unsecured Creditors
Committee
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
28-Sep-17
Morgan, Lewis & Bockius
Lead Counsel Agent / TrusteeSeadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
18-Sep-17
29
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Seadrill Prime 8,021US /
Other Country
In-Court Energy
RothschildFinancial Advisor / Investment Banker
Lenders / Bondholders
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
20-Sep-17
Stroock & Stroock & Lavan
Lead CounselLenders /
Bondholders
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
20-Sep-17
Cadwalader, Wickersham & Taft
Lead CounselLenders /
Bondholders
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
13-Sep-17
Dykema Cox SmithLocal / Special
CounselLenders /
Bondholders
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
13-Sep-17
Fried, Frank, Harris, Shriver & Jacobson
Lead CounselLenders /
Bondholders
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
13-Sep-17
Andrews Kurth Kenyon
Local / Special Counsel
Lenders / Bondholders
Seadrill filed for Chapter 11 bankruptcy protection in the Southern District of Texas on 12 September 2016. The docket number is 16-60079.
14-Sep-17
Tenet Healthcare
Prime 15,366 US In-Court Medical BarclaysFinancial Advisor / Investment Banker
CompanyTenet Healthcare has retained Barclays to explore strategic alternatives, with a focus on a selling the entire company rather than offloading parts of the business piecemeal.
13-Sep-17
Titan Energy (f/k/a Atlas Resource Partners)
Prime N/A US Out-of-Court EnergyDetring Energy
AdvisorsFinancial Advisor / Investment Banker
CompanyTitan Energy has engaged Detring Energy Advisors to sell its coalbed methane (CBM) assets.
8-Sep-17
Toys “R” Us Prime 5,265 US In-Court Retail
Paul, Weiss, Rifkind, Wharton & Garrison
Lead CounselLenders /
Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
12-Sep-17
Whiteford, Taylor & Preston
Local / Special Counsel
Lenders / Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
20-Sep-17
30
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Toys “R” Us Prime 5,265 US In-Court Retail
LinklatersLocal / Special
CounselLenders /
Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
20-Sep-17
Prime Clerk Claims Agent CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
15-Sep-17
Kirkland & Ellis Lead Counsel CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
6-Sep-17
Kutak RockLocal / Special
CounselCompany
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Munger, Tolles & Olson
Local / Special Counsel
CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
GoodmansLocal / Special
CounselCompany
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
BCFLocal / Special
CounselCompany
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Alvarez & MarsalRestructuring
AdvisorCompany
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
7-Sep-17
Shearman & Sterling Lead Counsel Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Skadden, Arps, Slate, Meagher & Flom
Lead Counsel Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
31
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Toys “R” Us Prime 5,265 US In-Court Retail
Troutman SandersLocal / Special
CounselAgent / Trustee
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Norton Rose Fulbright
Local / Special Counsel
Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Davis Polk & Wardwell
Lead Counsel Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Hunton & WilliamsLocal / Special
CounselAgent / Trustee
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Blake, Cassels & Graydon
Local / Special Counsel
Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Wachtell, Lipton, Rosen & Katz
Lead CounselLenders /
Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
11-Sep-17
McGuireWoodsLocal / Special
CounselLenders /
Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Osler, Hoskin & Harcourt
Local / Special Counsel
Lenders / Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Houlihan LokeyFinancial Advisor / Investment Banker
Lenders / Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
13-Sep-17
Berkeley Research Group (BRG)
Financial Advisor / Investment Banker
Lenders / Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
32
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Toys “R” Us Prime 5,265 US In-Court Retail
Cole Schotz Lead Counsel Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
27-Sep-17
Arnold Porter Kaye Scholer
Lead CounselLenders /
Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Huron Consulting Group
Financial Advisor / Investment Banker
Lenders / Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
26-Sep-17
Kilpatrick Townsend & Stockton
Lead Counsel Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
21-Sep-17
ThompsonMcMullanLocal / Special
CounselAgent / Trustee
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
21-Sep-17
Porter Hedges Lead Counsel Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Emmet, Marvin & Martin
Lead Counsel Agent / TrusteeToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
20-Sep-17
Spotts FainLocal / Special
CounselAgent / Trustee
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
27-Sep-17
PJT PartnersFinancial Advisor / Investment Banker
Lenders / Bondholders
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
28-Sep-17
Kramer Levin Naftalis& Frankel
Lead CounselUnsecured Creditors
Committee
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
27-Sep-17
33
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Toys “R” Us Prime 5,265 US In-Court Retail
FTI ConsultingFinancial Advisor / Investment Banker
Unsecured Creditors
Committee
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
27-Sep-17
Curtis, Mallet-Prevost, Colt & Mosle
Local / Special Counsel
CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Crenshaw Ware & Martin
Local / Special Counsel
CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Klehr Harrison Harvey Branzburg
Local / Special Counsel
CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Crowley LiberatoreRyan & Brogan
Local / Special Counsel
CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Shaw Fishman Glantz & Towbin
Local / Special Counsel
CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Canfield Wells & Kruck
Local / Special Counsel
CompanyToys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
Proskauer RoseLocal / Special
CounselCompany
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
27-Sep-17
DabneyLocal / Special
CounselCompany
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
27-Sep-17
Ronald PageLocal / Special
CounselCompany
Toys R Us filed for Chapter 11 bankruptcy protection in the Eastern District of Virginia on 19 September 2017. The docket number is 17-34665.
19-Sep-17
34
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
TriyardsHoldings
Prime N/AUS / Other
CountryOut-of-Court Energy PwC
Financial Advisor / Investment Banker
CompanyTriyards Holdings has hired PricewaterhouseCoopers (PwC) as financial adviser to restructure its USD 186.5m loans.
13-Sep-17
Ultra Petroleum Prime N/A US Out-of-Court Energy Fir Tree PartnersFinancial Advisor / Investment Banker
Company
Ultra Petroleum announced in a press release today that it intends to work with Fir Tree Partners on certain growth initiatives, including ways to de-lever its balance sheet and divest non-core assets.
27-Sep-17
University of Wisconsin Oshkosh Foundation
Middle Market
N/A US In-CourtFinancial Services
Godfrey & Kahn Lead CounselLenders /
Bondholders
University of Wisconsin Oshkosh Foundation filed for Chapter 11 bankruptcy protection in the Eastern District of Wisconsin on 17 August 2017. The docket number is 17-28077.
22-Sep-17
Vitamin WorldMiddle Market
21 US In-Court Retail
Lowenstein Sandler Lead CounselUnsecured Creditors
Committee
Vitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
19-Sep-17
Whiteford, Taylor & Preston
Local / Special Counsel
Unsecured Creditors
Committee
Vitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
21-Sep-17
Berkeley Research Group (BRG)
Financial Advisor / Investment Banker
Unsecured Creditors
Committee
Vitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
22-Sep-17
JND Corporate Restructuring
Claims Agent CompanyVitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
11-Sep-17
Saul Ewing Arnstein & Lehr
Local / Special Counsel
CompanyVitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
11-Sep-17
Katten MuchinRosenman
Lead Counsel CompanyVitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
11-Sep-17
Mackinac PartnersFinancial Advisor / Investment Banker
CompanyVitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
11-Sep-17
35
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
Vitamin WorldMiddle Market
21 US In-Court Retail
RAS Management Advisors
Financial Advisor / Investment Banker
CompanyVitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
20-Sep-17
Riemer & Braunstein Lead CounselLenders /
Bondholders
Vitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
12-Sep-17
Ashby & GeddesLocal / Special
CounselLenders /
Bondholders
Vitamin World filed for Chapter 11 bankruptcy protection in the District of Delaware on 11 September 2017. The docket number is 17-11933.
12-Sep-17
Westinghouse Electric / Toshiba
Prime 744 US In-Court Consumer Hayashi & PartnersLocal / Special
Counsel
Unsecured Creditors
Committee
Westinghouse Electric filed for Chapter 11 bankruptcy protection in the Southern District of New York on 29 March 2017. The docket number is 17-10751.
5-Sep-17
Westmoreland Coal
Prime 1,108 US Out-of-Court Mining Houlihan LokeyFinancial Advisor / Investment Banker
Lenders / Bondholders
Westmoreland Coal’s MLP lenders are working with HoulihanLokey as financial advisor for assistance with restructuring negotiations.
15-Sep-17
Windstream Prime 5,645 US Out-of-Court Telecom
Skadden, Arps, Slate, Meagher & Flom
Lead Counsel Company
Windstream recently had corporate counsel Skadden Arps re-review and confirm that the telecom company’s April 2015 spinoff of its fiber and copper networks into Uniti Group was within covenant parameters.
18-Sep-17
Kirkland & Ellis Lead Counsel CompanyKirkland & Ellis and Ross Aronstam & Moritz are representing Windstream in its motion for preliminary injunction in Delaware Chancery Court.
29-Sep-17
Ross Aronstam & Moritz
Local / Special Counsel
CompanyKirkland & Ellis and Ross Aronstam & Moritz are representing Windstream in its motion for preliminary injunction in Delaware Chancery Court.
29-Sep-17
WYNIT Distribution
Middle Market
87 US In-Court Consumer
Stinson Leonard Street
Lead Counsel CompanyWYNIT Distribution filed for Chapter 11 bankruptcy protection in the District of Minnesota on 8 September 2017. The docket number is 17-42726.
8-Sep-17
JND Corporate Restructuring
Claims Agent CompanyWYNIT Distribution filed for Chapter 11 bankruptcy protection in the District of Minnesota on 8 September 2017. The docket number is 17-42726.
8-Sep-17
36
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
CompanyPrime / Middle Market
Total Debt
(USD m)Country
In-court or Out-of-court
RestructuringSector Advisor Type Appointed by
Notes on AppointmentReported Retention
Date
WYNIT Distribution
Middle Market
87 US In-Court Consumer
Conway MacKenzieFinancial Advisor / Investment Banker
CompanyWYNIT Distribution filed for Chapter 11 bankruptcy protection in the District of Minnesota on 8 September 2017. The docket number is 17-42726.
8-Sep-17
Barnes & ThornburgLocal / Special
Counsel
Unsecured Creditors
Committee
WYNIT Distribution filed for Chapter 11 bankruptcy protection in the District of Minnesota on 8 September 2017. The docket number is 17-42726.
20-Sep-17
Lowenstein Sandler Lead CounselUnsecured Creditors
Committee
WYNIT Distribution filed for Chapter 11 bankruptcy protection in the District of Minnesota on 8 September 2017. The docket number is 17-42726.
20-Sep-17
Greenberg Traurig Lead CounselLenders /
Bondholders
WYNIT Distribution filed for Chapter 11 bankruptcy protection in the District of Minnesota on 8 September 2017. The docket number is 17-42726.
8-Sep-17
Goldman Sloan Nash & Haber
Local / Special Counsel
CompanyWYNIT Distribution filed for Chapter 11 bankruptcy protection in the District of Minnesota on 8 September 2017. The docket number is 17-42726.
8-Sep-17
37
Restructuring Data Report Advisory Mandates
NA Advisory Mandates
Advisory Mandates: September 2017
An Acuris Company
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