Andrew C. Ambruoso
Andrew Ambruoso is a counsel located in New York in White & Case's Financial Restructuring & Insolvency Practice. Mr. Ambruoso's practice covers a wide range of financial restructuring-related matters with a focus on representing agent banks, creditors, hedge funds and companies in large out-of-court workouts, distressed acquisitions and chapter 11 proceedings.
Upon graduating law school, Mr. Ambruoso served for two years as law clerk to the Honorable John C. Ninfo, II, Chief Judge, US Bankruptcy Court for the Western District of New York, and Senior Judge for the Bankruptcy Appellate Panel of the US Court of Appeals for the Second Circuit.
Southeastern Grocers (Bi-Lo, Winn-Dixie)
Represented Deutsche Bank as Administrative Agent and Lender under $900 Million prepetition ABL facility and as Lead Arranger for $1.125 Billion exit facility.
Texas Competitive Electric Holdings (TCEH)
Represented Deutsche Bank as Lead Arranger for a US$4.25 billion of senior secured DIP "roll-to- exit" credit facilities to Tex Energy, successor to TCEH.
Represented the Ad Hoc Secured Group of LightSquared LP lenders in connection with the successful restructuring of a US$1.7 billion LP secured term loan facility pursuant to a confirmed plan of reorganization as well as certain lenders providing $700 million in various DIP facilities to the debtors during their chapter 11 cases.
Represented the lead consortium of bondholders in Visteon Corporation's (one of the world's largest suppliers of automotive parts) successful emergence from chapter 11 after restructuring US$2.7 billion in debt obligations through a "toggle" plan of reorganization that included a US$1.25 billion equity rights offering and a US$700 million exit financing facility.
K-V Discovery Solutions
Represented Deutsche Bank's Distressed Products Group as a plan sponsor and investor in K-V's successful emergence from chapter 11 after restructuring US$570 million in debt obligations through a plan of reorganization that included a US$275 million equity rights offering and a US$100 million exit financing facility.
Represented Nordea Bank, as agent, and the steering committee of senior lenders, in connection with the chapter 11 reorganization of General Maritime Corporation, including a US$75 million debtor-in-possession financing facility and the restructuring of US$1.385 billion of senior secured indebtedness.
Represented Beal Bank, as holder of US$500 million in first-lien debt, in its pursuit of a jointly sponsored plan of reorganization with the Debtors.
Essar Steel Algoma
Represented Deutsche Bank as agent and lender under a $220 million DIP facility and $100 million prepetition ABL facility.
Represented Deutsche Bank as a lender under a $190 Million DIP facility (1st Lien “creeping roll-up”/2nd Lien junior liquidity) and prepetition 1st lien ABL facility.