Turnaround Management Association (TMA) recognized Milbank Financial Restructuring partner Dennis Dunne for his role in the successful restructuring of Chassix Holdings, Inc. and its US subsidiaries (together, “Chassix”).
Since 1993, TMA has honored excellence through its annual awards program, which recognizes the most successful turnarounds and impactful transactions. This year’s winners saved countless jobs and made a significant economic impact, both locally and globally. For his role in the restructuring of Chassix Holdings, Inc., Mr. Dunne was awarded the 2016 Turnaround of the Year: Mega Company.
Milbank represented Platinum Equity Advisors in the restructuring of its portfolio company, Chassix. In July 2015, Chassix successfully completed its prearranged restructuring and recapitalization and emerged from chapter 11 bankruptcy protection. As part of its prearranged plan, Chassix substantially reduced its outstanding debt obligations, securing approximately $300 million in new exit financing, including $150 million from certain prepetition noteholders. Chassix also secured significant long-term new business commitments and support from its largest customers.
Milbank was previously awarded the Best Pre-packaged Restructuring of 2016 by Turnaround Atlas Awards for its work on Chassix.
