Milbank, Tweed, Hadley & McCloy LLP made a strong showing at the Turnaround M&A Atlas Awards, earning 14 awards at the 10th Annual Restructuring + Distressed Investing Gala, held at Manhattan’s Metropolitan Club. The M&A Atlas Awards, presented by the Global M&A Network, recognize excellence in restructurings, distressed investing, insolvencies, turnarounds, and special situations M&A.
The firm was honored in the following categories:
- Energy Restructuring of the Year (above $500M) – The Milbank team, led by Dennis Dunne and partner Samuel Khalil, represented the Ad Hoc Committee of Senior Noteholders in the chapter 11 reorganization of oil and gas company Vanguard Natural Resources.
- Health Care Services Restructuring of the Year – The Milbank team, led by Mr. Dunne and Evan Fleck, represented the First Lien Ad Hoc Committee and DIP Lenders in the chapter 11 reorganization of global integrated cancer care services provider 21st Century Oncology Holdings, Inc.
- Shipping & Services Restructuring of the Year – The Milbank team, led by Mr. Dunne and Mr. Khalil, represented the Ad Hoc Committee of Noteholders in the restructuring of industrial shipping company Ultrapetrol (Bahamas) Ltd.
- Pre-Pack Restructuring of the Year (above $1B) – The Milbank team, led by Mr. Dunne and Mr. Fleck, represented the prepetition term loan agent and DIP term loan agent, under an $820 million senior secured term loan credit facility and a $105 million senior secured DIP term loan credit facility, respectively, in the restructuring of children’s retail clothing company The Gymboree Corporation and its affiliates.
- Out of Court Restructuring of the Year (above $1B) – The Milbank team, led by Mr. Dunne and Mr. Khalil, represented ad hoc committee of certain financial institutions holding loans under a $1.5 billion term loan facility of J. Crew Group, Inc., one of the nation’s premier clothing retailers, and 7.75%/8.50% Senior PIK Toggle Notes due 2019 issued by Chinos Intermediate Holdings A, Inc., the parent company of J. Crew, in connection with a multi-prong recapitalization of the J. Crew group of companies.
- Chapter 11 Restructuring of the Year ($500M - $1B) – The Milbank team, led by Mr. Dunne. Mr. Fleck, Lauren Doyle and Andrew Leblanc, represented an ad hoc committee of unsecured creditors of Ultra Resources, Inc. in the chapter 11 cases for Ultra Petroleum Corp., an oil and natural gas exploration and production enterprise, and its affiliates.
- Corporate Turnaround of the Year (above $5B) – The Milbank team, led by Gerard Uzzi, represented an ad hoc group of noteholders in the chapter 11 cases of Houston-based oil and natural gas production company LINN Energy, LLC and its affiliated entities.
- Cross Border Special Situation M&A Deal of the Year ($250M - $750M) – The Milbank team, led by John Franchini, Dan Bartfeld and Roland Estevez, represented Macquarie Capital in its sale to an entity controlled by affiliates of InfraRed Infrastructure Fund V and Invex Infraestructura of a 45.5% equity interest in a 907 MW combined cycle power generation facility, commonly referred to as “Norte III.”
- Private Equity Turnaround of the Year ($250M - $500M) – The Milbank team, led by Mr. Uzzi and David Cohen, represented an ad hoc group of first lien lenders in the chapter 11 cases of SH 130 Concession Company, LLC, which operates and maintains a toll road near Austin, Texas.
- Cross Border Turnaround of the Year ($100M - $250M) – The Milbank team, led by Mr. Dunne and Tyson Lomazow, represented the agent for Constellation facility lenders in connection with the restructuring of Emas Chiyoda Subsea Ltd., the Birmingham, England, provider of subsea and offshore construction, engineering, transportation, procurement, installation and commissioning services for various energy projects.
- Cross Border Turnaround of the Year ($500B - $1B) – The Milbank team, led by Mr. Dunne and Mr. Fleck, represented global drilling services company Boart Longyear in its restructuring and recapitalization.
- Cross Border Turnaround of the Year ($1B - $2.5B) – The Milbank team, led by David Zemans and Abhilash Raval, represented an ad hoc group of initial noteholders in the restructuring of Global A&T Electronics Ltd.
- Turnaround of the Year ($1B - $5B) – The Milbank team, led by Gerard Uzzi, Mark Shinderman, and Peter Newman, represented an ad hoc group of lenders holding approximately $3 billion of the $3.7 billion of debt restructured by Ocean Rig UDW Inc., a leading international offshore drilling services contractor.
- Turnaround of the Year (above $10B) – The Milbank team, led by Paul Aronzon and Thomas Kreller, represented Caesars Entertainment Corporation (CEC) in the chapter 11 cases of its subsidiary, Caesars Entertainment Operating Company, and its affiliated debtors.
Milbank was also a Distinguished Nominee for the categories of Restructuring Law Firm of the Year│Global (Large) and Creditors Restructuring Law Firm of the Year.
