Fairway Energy, LP and affiliates
Fairway Energy, LP and its affiliates operated an integrated business that owned and operated an underground crude oil storage facility in Houston, Texas. They commenced their bankruptcy cases to sell their business as a going concern. Following a marketing and sale process and auction, the Fairway debtors ultimately sold substantially all of their assets to Fairway New Co LLC, an affiliate of their lender, Riverstone Credit Partners-Direct, L.P., for a $77.5 million credit bid. After the sale closed, the debtors successfully achieved confirmation of their plan of liquidation. Young Conaway serves as co-counsel in Fairway’s bankruptcy cases with Haynes and Boone, LLP.
F+W Media, Inc.
RM Holdco LLC
New MACH Gen, LLC
The Weinstein Company
The Bon-Ton Stores, Inc. and its affiliated debtors were a leading hometown department store retailer with 256 stores located in twenty-three states in the Northeast, Midwest and upper Great Plains. The Bon-Ton debtors commenced their bankruptcy cases due to adverse trends in the retail industry, including consumers’ shift from shopping in brick-and-mortar stores to online retail channels. Following a marketing and sale process and auction, the Bon-Ton debtors ultimately sold substantially all of their assets to a joint venture led by Bon-Ton’s second lien noteholders. Young Conaway was retained as co-counsel in Bon-Ton’s bankruptcy cases with Paul, Weiss, Rifkind, Wharton & Garrison LLP.
JG Wentworth (Orchard Acquisition)
The J.G. Wentworth Company and its affiliated debtors are a leading diversified consumer financial services company focused on mortgage lending, personal and business lending, structured settlements, and prepaid cards. The J.G. Wentworth debtors commenced their bankruptcy cases to effectuate a recapitalization of their balance sheet on a consensual basis in accordance with the terms of a restructuring support agreement with their primary stakeholders. Following a mere 36 days, the J.G. Wentworth debtors’ pre-packaged plan of reorganization was confirmed and the company emerged from bankruptcy a week later. Through the plan, the J.G. Wentworth debtors’ prepetition funded debt, which totaled $449.5 million, was eliminated and the company received $70 million in new funding. Young Conaway was retained as co-counsel with Simpson Thacher & Bartlett LLP.