HCR ManorCare, Inc.
HCR ManorCare, Inc. and its non-debtor subsidiaries are a leading national healthcare provider that operate a network of more than 450 locations nationwide providing (a) skilled nursing and inpatient rehabilitation facilities, memory care facilities, and assisted living facilities (b) hospice and home health care agencies; and (c) outpatient rehabilitation clinics and other ancillary healthcare and related businesses. HCR ManorCare, Inc. commenced its bankruptcy case to effectuate a prepackaged plan of reorganization satisfying the claims of a major creditor and improving its go-forward operations by, among other things, reducing its operating leverage. Young Conaway was retained as co-counsel in HCR ManorCare, Inc.’s chapter 11 bankruptcy case with Sidley Austin 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.