Andrew Pollack

Gulfport Energy Corporation — Representation of the Official Committee of Unsecured Creditors of Gulfport Energy Corporation, in connection with the successful Chapter 11 restructuring. 

Noble Corp. plc – Representation of a bondholder group with over $695 million of bond debt in negotiations with Noble Corp plc to restructure its balance sheet. Noble, a leading owner and operator in the offshore drilling industry, filed for bankruptcy on July 31, 2020, in the Southern District of Texas with roughly $4 billion of financial debt, including approximately $3.5 billion in bond debt and an approximately $545 million drawn revolver. The bondholder group negotiated and agreed with Noble prior to the bankruptcy filing on a Restructuring Support Agreement providing for the conversion of all Noble’s debt to equity pursuant to a Chapter 11 plan of reorganization, in a deal supported by all of Noble’s key creditor constituencies. The Restructuring Support Agreement also contemplates a rights offering for the issuance of $200 million of new second lien notes upon Noble’s emergence from bankruptcy, a portion of which will be backstopped by the bondholder group. 

Bluestem – Representation of Bluestem Group Inc., the non-debtor parent company and largest unsecured creditor of Bluestem Brands, Inc. (BBI) in connection with BBI’s bankruptcy filing in the District of Delaware on March 9, 2020.  BBI was an online and catalog retailer with more than $1.7 billion in sales in 2019.  BBI’s restructuring was accomplished through a global settlement among BBI, BGI, and other key constituencies, which resulted in the successful sale of substantially all of the debtors’ assets to BBI’s prepetition secured lenders pursuant to a plan of reorganization that went effective on August 28, 2020.  

Payless – Representation of an ad hoc group of first lien term lenders of Payless Inc., the largest specialty family footwear retailer in the Western Hemisphere, with approximately 3,400 stores in more than 40 countries. Payless filed for Chapter 11 bankruptcy in the Eastern District of Missouri in February 2019. The ad hoc group provided Payless with approximately $25 million of DIP financing in connection with the bankruptcy filing.

Lehman Brothers – Assisted in the representation of the liquidation trustees appointed to oversee the winding down of Lehman Brothers Treasury Co. B.V. in the Netherlands.

RMBS Litigation – Assisted in the representation of a significant investor in Article 77 litigation related to a multibillion-dollar residential mortgage-backed securities settlement.

Commonwealth of Puerto Rico Restructuring – Assisted in the representation of mutual funds and distressed debt investors in the restructuring of bonds issued by the commonwealth of Puerto Rico and its instrumentalities.

NII Holdings Inc. – Assisted in the representation of the Official Committee of Unsecured Creditors in the bankruptcy case of NII Holdings Inc., a leading provider of mobile communication services operating under the Nextel brand in Latin America, in a successful restructuring that resolved numerous disputed claims and allowed NII to emerge from bankruptcy after only nine months.