White & Case advises Special Committee of STG Logistics Inc. on restructuring and recapitalization transaction

Global law firm White & Case LLP has advised the Special Committee of the Board of Managers of STG Logistics Inc. (STG)—one of the nation's largest providers of integrated port-to-door services and supply chain solutions for cargo owners and logistics providers—in connection with STG's entry into a restructuring support agreement (RSA) with its equity sponsors and lenders holding a requisite majority of STG's funded debt to significantly reduce the company's outstanding debt obligations and secure up to US$150 million of new capital from the company's existing lenders.

The RSA will strengthen STG's balance sheet to support future growth and position the company for long-term success by significantly reducing interest expenses and providing the company with ample liquidity. The company will implement its restructuring through a prearranged court-supervised reorganization process under chapter 11 of the US Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey.

The White & Case team was led by Financial Restructuring and Insolvency partners Gregory Pesce (Chicago, New York), Samuel Hershey (New York) Andrew O'Neill and Laura Baccash (both in Chicago), counsel Erin Smith and associates Barrett Lingle, Peter Giovine (all in New York), Devin Rivero (Miami) and Alonso Aquije (Chicago).

Press contact
For more information please speak to your local media contact.