Corporate bondholder group representations

• Represented the Ad Hoc Group of 2029 Secured Noteholders of Office Properties Income Trust, led by Helix Partners and Redwood Capital, as Chapter 11 plan sponsors and debtor-in-possession lenders in OPI's complex and contentious Chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas.
• Represented the Ad Hoc Group of whole business securitization noteholders in the Chapter 11 restructuring of FAT Brands in the US Bankruptcy Court for the Southern District of Texas. The group played a central role in developing the restructuring path as prepetition secured creditors, debtor-in-possession lenders and, ultimately, acquirers of the going-concern businesses through credit-bid sale transactions. The transactions consolidated four separate securitization structures into two combined businesses, which were recapitalized through new securitization debt.
• Represented the Ad Hoc Group of whole business securitization noteholders in the Chapter 11 restructuring of Hooters of America, LLC in the US Bankruptcy Court for the Southern District of Texas. The group held substantially all of HOA's prepetition secured debt, provided debtor-in-possession financing and negotiated the restructuring plan.
• Represented an Ad Hoc Group of bondholders in the Chapter 11 cases of Silicon Valley Bank and certain affiliates in the US Bankruptcy Court for the Southern District of New York.
• In connection with bank failures arising from the 2008 financial crisis, represented lead creditor groups in the bankruptcy cases of Washington Mutual Inc., Downey Financial, Doral Financial and Colonial BancGroup Inc. Brian also represented creditor groups in the out-of-court restructurings of several other bank holding companies.
• Represents an Ad Hoc Group of creditors of Financial Guaranty Insurance Company, a monoline bond insurer in wind-down, in connection with potential restructuring transactions.
• Represents an Ad Hoc Group of surplus noteholders of Ambac Assurance Corporation, a monoline bond insurer in wind-down.

Cross-border representations

• Represents the Joint Official Liquidators of FTX Digital Markets Ltd. in its insolvency proceeding in The Bahamas and its Chapter 15 case in the US Bankruptcy Court for the District of Delaware. The representation included complex litigation against the FTX US Chapter 11 debtors and a novel settlement that established a cross-border consolidation framework intended to provide equal treatment for FTX customers.
• Represents the Reorganized TK Holdings Trust in connection with the wind-down of Takata subsidiaries in Mexico.
• Represented an ad hoc group of holders of warrants issued by Greece in litigation against the sovereign.
• Represented an ad hoc group of bondholders in the Chapter 11 case of LATAM Airlines, the largest airline group in Latin America. The matter was recognized as "Restructuring Deal of the Year 2023" by IFLR and the Latin Lawyer Awards.

Sovereign representations

• Represents the ad hoc group of international bondholders of Lebanon in connection with the restructuring of more than US$30 billion of sovereign debt.
• Represented the ad hoc group of international bondholders of Sri Lanka in connection with the restructuring of US$12.5 billion of Sri Lanka's external bonded debt.
• Represented the ad hoc group of international bondholders of the Republic of Argentina in connection with the restructuring of US$65 billion of Argentina's external debt. The matter was recognized as "Deal of the Year 2021" by the Latin Lawyer Awards.
• Represented the ad hoc group of international bondholders of Ecuador in connection with the restructuring of US$17.4 billion of Ecuador's external debt. The matter was recognized as "Debt and Equity-Linked Deal of the Year 2021" by the IFLR Americas Awards.
• Represented the ad hoc group of international bondholders of the Province of Buenos Aires in connection with the restructuring of approximately US$7.1 billion of external bonded debt. The matter was recognized as "Subnational Deal of the Year 2021" by LatinFinance.
• Represented the ad hoc group of international bondholders of the Province of Córdoba, Argentina's second-largest province, in connection with the restructuring of US$1.67 billion of external bonded debt.