Distressed M&A
Weil regularly advises on the sale or acquisition of distressed companies whether in-court or out-of-court. Weil has extensive experience in distressed buyouts, chapter 11 plan sponsorships, and sales under section 363(b) of the Bankruptcy Code. Purchasing a company and/or acquiring large amounts of its debt can yield substantial returns, whether done through a direct acquisition, becoming a chapter 11 sponsor, or a 363 sale. Weil has applied its more than 50 years of experience with restructurings to assisting buyers and sellers of distressed companies. For a description of significant seller representations in distressed M&A transactions, see
Debtor Representations.
For more than five decades, Weil helped define distressed M&A in the United States and abroad. By offering creative, practical, and thoughtful solutions, Weil ensures that clients achieve the most effective counsel regarding the complex issues associated with distressed M&A transactions. Weil’s attorneys work together seamlessly to provide sophisticated advice on tax structuring, financing, securities law requirements, antitrust and other regulatory approvals, and, of course, bankruptcy/creditors’ rights issues.
Weil’s extensive experience in this area extends to representing institutional and strategic purchasers of assets of troubled companies in distressed out-of-court M&A transactions as well as bidders in sales conducted under the Bankruptcy Code, including the special requirements, issues, and pitfalls related to these transactions (e.g., successor liability; bidding strategies, procedures, and protections; and tax structure).
Selected Representations
Chapter 11 Plan Sponsorships
EQT
Representation of EQT as the stalking horse bidder and plan sponsor in the chapter 11 case of Synagro Technologies, Inc.
CCMP Capital Advisors
Representation of CCMP Capital Advisors as the "stalking horse" bidder, in its proposed $202 million chapter 11 acquisition of apparel retailer Eddie Bauer.
TH Lee
Representation of TH Lee as a creditor, plan sponsor and acquirer of Fitz & Floyd in connection with their chapter 11 cases.
The Gores Group
Representation of The Gores Group, a private equity firm, as the stalking horse bidder and winner at a Court-supervised auction in its $206 million acquisition of substantially all of the assets of NEC Holdings Corp.
Cerberus
Representation of Cerberus, an investment company, in its acquisition of the insolvent Peguform Group, a manufacturer of plastic parts and modules for the interior and exterior of automobiles. The transaction involved one of the largest insolvency cases ever in the German industry.
VF Corporation
Representation of VF Corporation, one of the world’s largest apparel companies, in the acquisition of all of the worldwide intellectual property of Rock & Republic, a high-end apparel company, pursuant to Rock & Republic’s chapter 11 plan of liquidation.
Whippoorwill Associates Inc.
Representation of Whippoorwill Associates, Inc., as agent for its discretionary accounts, as bidder in 363 sale, in connection with the chapter 11 case of Tweeter Home Entertainment Group, Inc.
Leucadia
Representation of Leucadia in the following matters:
- As the equity sponsor going into chapter 11 and the equity sponsor and senior lender (through an affiliate) upon exit in Premier Biloxi Entertainment (Hard Rock Biloxi Hotel & Casino)
- As a strategic investor in Williams Communications during their chapter 11 proceedings
Section 363(b) Sales
Whippoorwill Associates Inc.
Representation of Whippoorwill Associates Inc., as bidder in 363 sale, in connection with the chapter 11 of Tweeter Home Entertainment Group, Inc.
China Aviation Industry General Aircraft Co., Ltd.
Representation of China Aviation Industry General Aircraft Co., Ltd. (also known as AVIC General Aviation Co., Ltd.), as the successful bidder in the chapter 11 cases of Epic Air, LLC and its related debtors.
Gores
Representation of Gores as the proposed purchaser in the Genmar chapter 11 cases.
Retail Consortia
Representation of numerous potential bidders, purchasers of assets, and other interested parties in connection with the following matters:
- Borders Group, Inc.: Representation of a joint venture composed of Hilco Merchant Resources, LLC; SB Capital Group, LLC; Tiger Capital Group, LLC; and Gordon Brothers Group as the winning bidder to enter into an agency agreement to conduct liquidation sales in 226 of 642 stores in the chapter 11 cases of Borders Group, Inc. and its affiliates.
- Rock & Republic: Representation of VF Corporation in the acquisition of all the worldwide intellectual property of Rock & Republic pursuant to Rock & Republic’s chapter 11 plan of liquidation.
Shortcut Links
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