MAYER BROWN WINS MULTIPLE TURNAROUND ATLAS AWARDS
Mayer Brown advised on three transactions that were awarded at the Global M&A Network’s 16th annual Turnaround Atlas Awards. The awards honor “the best value-creating transactions, outstanding firms, professionals, and leaders from the global restructuring, insolvency, and distressed investing communities,” according to the publication. The winning transactions are:
GWG Holdings: Chapter 11 Restructuring (Large)
Mayer Brown served as lead restructuring counsel for GWG Holdings, Inc. and its affiliates (GWG), a publicly-traded life settlements and alternative investments company, which resulted in the ultimate emergence from Chapter 11 and resolving more than $2.1 billion in debt. The successful resolution was accomplished through the coordinated efforts of a multi-disciplinary Mayer Brown team across the firm’s North America offices and led by partners Thomas S. Kiriakos, Louis S. Chiappetta, and Charles S. Kelley.
Air Methods Corporation: Pre-Pack Restructuring
Air Methods, a provider of air medical services in the US, obtained approval from that the US Bankruptcy Court for the Southern District of Texas of its prepackaged plan of reorganization. The company emerged from Chapter 11, reducing Air Methods’ total debt by approximately $1.7 billion. A Mayer Brown team, led by partners Brian Trust and Zach Carrier, represented a leading US bank as the administrative agent in connection with a pre-petition securitization program, a post-petition DIP-securitization program (which harmonized complex intercreditor issues with a side-by-side delayed draw term DIP facility) and an exit securitization program in connection with the consummation of the plan of reorganization.
Cyxtera Technologies/Brookfield: Distressed Investments (Large)
Cyxtera, a global leader in data center colocation, interconnection services, and digital infrastructure, announced that the US Bankruptcy Court for the District of New Jersey approved the sale of substantially all of the company’s assets to Brookfield Infrastructure Partners L.P. and its institutional partners (collectively “Brookfield”) through its plan of liquidation. A Mayer Brown team, led by partners Brian Trust and Zach Carrier, represented a leading US bank as administrative agent in connection with a pre-petition securitization program and a post-petition DIP securitization program, which was the first transaction of its kind in the District of New Jersey.
Mayer Brown’s global Restructuring practice operates in jurisdictions across the Americas, Asia and Europe. The team represents corporate debtors, company directors, lenders (throughout the capital structure), bondholders, liquidators, receivers, administrators, trustees, debtor-in-possession loan providers, insurers, pension fund trustees, and special servicers on all aspects of restructuring, bankruptcy, and insolvency.
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