Weil is advising Nicklaus Companies LLC (the “Company”) and certain of its subsidiaries in voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. To fund operations and the administration of the Company’s chapter 11 process without disruption, the Company has obtained financing that will provide funds to ensure Nicklaus Companies’ continued operating success.

The filing will allow the Company to proactively address its long-term funded indebtedness and other liabilities, including as a jury verdict returned in a Florida state court last month following a lawsuit filed by company founder and former Co-Chair Jack Nicklaus. The jury ruled in favor of two Nicklaus Companies’ executives but awarded $50 million in damages against the Company.

The chapter 11 filing, which has allowed the Company to secure DIP financing, will stabilize and preserve Nicklaus Companies’ businesses for the benefit of its employees and clients and the legacy of the Jack Nicklaus brands as legal and restructuring options are pursued.

The Weil team advising Nicklaus Companies is led by Restructuring partner David J. Cohen, Restructuring Department Co-Chair Ronit Berkovich and associates Daphne Papadatos, Maggie Burrus, Jillian Ingrisano and Travis Boyd; Banking & Finance partner Tom Hashagen and associates Keiko Quiñones-Osumi and Laura Ceitlin; Complex Commercial Litigation and Appeals and Strategic Counseling partner Brian Liegel; Entertainment, Sports & Media and Private Equity partner Steve Argeris and associate Joseph Erdos; and Technology & IP Transactions partner Max Scott.