Weil is advising Everstream, a leading U.S. builder, owner and operator of business-only fiber optic networks, in its voluntary chapter 11 cases to implement a sale of the company.

On May 28, 2025, Everstream announced that it had reached an agreement to sell substantially all of its operations to an affiliate of Bluebird Fiber (“Bluebird”), a regional provider of fiber-based connectivity solutions for businesses. The stalking horse agreement with Bluebird was reached following an extensive marketing process and provides for the purchase of substantially all assets as well as the assumption of certain liabilities, subject to higher or otherwise better offers. To complete this value-maximizing transaction in an efficient manner, Everstream and certain of its affiliates commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Completion of the sale to Bluebird, if the successful bidder, is targeted by year end, subject to satisfaction of all closing conditions, including regulatory approvals.

The Weil team advising Everstream in this process is led by Restructuring Department Co-Chair Matt Barr and partner Andriana Georgallas, and includes Restructuring partners Gabriel Morgan and Cliff Carlson as well as associates Alex Cohen, Justin Kanoff, Taylor Jones, Ashley Anglade, Courtney Wright, Nathan McCabe and Alicia Mortenson; Mergers & Acquisitions partner Mariel Cruz,  counsel Barrett Schitka and associates Daniel Ruzi, Ryan Blom and Gabrielle Fressle; Banking & Finance partner Andrew Yoon and associates Solomon Leung and Julia Pjevach; Tax partner Greg Featherman and associates Jonathan Vita and Zachary Torres; Private Equity partner Ryan Taylor, counsel Theodora Tavridou and associates Andrew Distell and Mark Schiff; Antitrust partner Kristin Sanford and associate Jarui Wang; Executive Compensation & Benefits partner Aimee Adler, counsel Steven Margolis and associates Sanjana Rao and Emily Warren; and Complex Commercial Litigation partner Jared Friedmann, counsel Christine Calabrese and associate Kathleen Stanaro.

Contacts

Matt Barr
Restructuring Department Co-Chair
+1 (212) 310-8010
matt.barr@weil.com

Andriana Georgallas
Restructuring Partner
+1 (212) 310-8827
andriana.georgallas@weil.com