April 20, 2022
Restructuring partner Alexander W. Welch has been named an “Outstanding Young Restructuring Lawyer” by Turnarounds & Workouts for 2022. He is among just 12 attorneys under the age of 40 recognized for their work on the industry’s most prominent bankruptcies and restructurings.
Alex was recognized for his expertise and achievements in an array of complex restructurings over the past year. He advised MedMen Enterprises, one of the largest cannabis companies in the U.S., in its out-of-court restructuring involving hundreds of millions in liabilities and resulting in a $100 million recapitalization.
The publication also noted his work advising Healogics, Inc., the nation’s leading wound-care center operations provider, on a comprehensive restructuring of over $860 million in funded debt through an out-of-court debt-for-equity exchange, resulting in a $450 million deleveraging that obtained 100% participation from its lenders and provided Healogics with $240 million in new equity financing.
He also was recognized for advising Mortgage Contact Services (“MCS”) on its out-of-court debt-for-equity exchange, resulting in a $400 million deleveraging that obtained 100% participation from its debtholders and provided MCS with renewed incremental liquidity through a new revolving credit facility. Alex also was noted for representing Talen Energy Marketing and Talen Energy Supply as second lien lenders in the chapter 11 cases of NorthEast Gas Generation, an owner and operator of electricity generation plants.
Turnarounds & Workouts, a monthly newsletter for professionals tracking distressed businesses in the United States and Canada, named the “Outstanding Young Restructuring Lawyers” in a special report published in the April 2022 issue.