Weil advised Estremo, the sponsor of Thrill Holdings, and MTV Networks, in the successful resolution of the chapter 11 cases of Thrill Holdings. Thrill’s business included producing the long-running television series Ridiculousness! starring Rob Dyrdek. The cases arose after Thrill’s first-lien lenders attempted to exercise proxy rights to replace the company’s board of directors shortly before the chapter 11 filings. Weil advised Estremo in litigation before the Bankruptcy Court for the District of Nevada successfully challenging the validity of that prepetition proxy exercise, and in connection with negotiating a subsequent global settlement amongst the Debtors, the lenders, Estremo, MTV, and Rob Dyrdek (among others) and confirmation of the Debtors’ chapter 11 plan.

The settlement provides for the continuation of certain production fees and other payments by the MTV parties to the Debtors and participating talent parties, consensual releases between the parties, and paved the way for a consensual chapter 11 plan and winddown of certain debtors. All major constituencies supported the settlement.

The Court approved the global settlement and confirmed debtors’ chapter 11 plan in July 2026. Under the plan, the first-lien lenders received 100% of the equity in reorganized Thrill Holdings, while general unsecured creditors received interests in the litigation trust formed on the plan effective date. The plan became effective on July 31, 2026.

The Thrill cases underscore the importance of strict compliance with contractual notice and procedural requirements when lenders seek to exercise proxy rights, as well as the role chapter 11 can play in resolving disputes arising from an attempted change of control. Read more from Weil Restructuring.

The Weil team advising Estremo is led by Restructuring Department partners Matt Barr and David J. Cohen, and includes Restructuring associate Phil DiDonato.