Bankruptcy & Special Situations Investments

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Overview

From its founding, RK&O has focused on representing investors and “strategics” that take control or activist positions in troubled or distressed companies across a broad range of industries and asset classes. RK&O’s focus on helping clients analyze credit structures, identify fulcrum securities and restructure those securities, both in and out of court, have placed the firm in the forefront of some of the most challenging and nuanced restructuring engagements. We also frequently represent investors looking to make rescue, debtor-in-possession and exit loans to troubled companies. more +

In addition to its creditor and strategic representations, the firm also represents borrowers of all types and sizes when they are in distress, working closely with management and outside advisors to create a strategy for both rehabilitation and future growth.

RK&O’s restructuring attorneys are also leaders in our Lending and Private Equity practice groups and have significant experience representing parties purchasing distressed assets or making investments in troubled companies (both in and out of bankruptcy or through foreclosure sales). The RK&O restructuring team also includes attorneys with extensive litigation experience who are on the forefront of some of the more complex inter- and intra-creditor lending disputes that are shaping the distressed investing and restructuring landscape.

By combining attorneys with deep corporate and litigation experience into one group, RK&O provides clients with a singular team focused on providing sophisticated and cost-effective solutions to complex restructuring matters.

Experience

  • Centaur Gaming (financial sponsors include Goldman Sachs, West Face Capital and Clairvest Investment Group), an Indiana-based racino, in connection with its $500 million acquisition of substantially all of the assets of Indianapolis Downs, its largest competitor, in a “363 sale,” related litigation and its entry into a new secured lending facility.
  • Funds and accounts managed by Farallon Capital Management, Beach Point Capital Management, Black Rock, Third Point Capital Management and West Face Capital in connection with the restructuring of approximately $500 million of secured bonds issued by ProtoStar in its Chapter 11 cross-border proceedings.
  • World-renowned spa and resort owner in connection with the restructuring of its mortgage and mezzanine lending facilities and entry into new lending facilities.
  • Private investment fund in connection with its purchase of a controlling position in the preferred equity interests in TerreStar Corporation, the restructuring of those interests and an exit facility provided by the preferred equity holders.
  • Private investment fund in the acquisition of U.S.-based assets of Israeli entity in Israeli insolvency proceeding.
  • Morgan Stanley in connection with the purchase of senior secured loans and origination of a DIP loan to an energy producer in a Chapter 11 proceeding, and its acquisition of substantially all of the assets of the company.
  • Lenders to a Medicare service provider in connection with out-of-court debt restructuring and merger.

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