Biography
Rob Bennett focuses on complex liability management transactions, restructuring finance and special situations. His practice spans in-court and out-of-court restructurings, distressed and opportunistic financings and cross-border capital structure solutions for lenders, investors, companies and ad hoc creditor groups in the United States and internationally.
Rob has advised on a broad range of transactions across the restructuring and finance spectrum, including debt exchanges, uptiering transactions, DIP and exit financings, recapitalizations, consent solicitations, Chapter 11 processes and schemes of arrangement. He is recognized for advising on sophisticated situations involving both stressed and performing capital structures across multiple industries and jurisdictions.
Having begun his White & Case career in London before transferring to New York in 2017, Rob brings a distinctly cross-border perspective to restructuring and finance matters. He has worked on significant transactions in both Europe and the United States and is known for helping clients navigate complex and time-sensitive matters with commercial and practical advice.
Qualified as both an English solicitor and a New York attorney, and having received legal education in both the UK and Germany, Rob is well placed to advise on international matters that require coordinated solutions across jurisdictions. He is known for combining commercial judgment with execution-focused advice across the full life cycle of a transaction, from strategic planning through implementation.
Rob also contributes to discussions on developments in international bankruptcy, restructuring and finance law and has written on finance-related topics for a range of publications.
Experience
Restructuring of Office Properties Income Trust, 2026
Representation of an ad hoc group of bondholders in the chapter 11 restructuring of Office Properties Income Trust, Inc. in the US Bankruptcy Court for the Southern District of Texas. Represented the bondholder group in connection with a comprehensive restructuring and related DIP financing that resolved numerous contested issues and resulted in a consensual chapter 11 plan restructuring approximately US$2.4 billion of funded indebtedness while protecting the group's interests.
Liability management for Franchise Group capital structure, 2025
Representation of an ad hoc group of lenders with holdings in (i) a second lien term loan facility at Franchise Group and its operating subsidiaries, and (ii) a structurally subordinated term loan facility at Franchise Group's parent holding company.
Workout of warehouse loans in Sunnova Energy Corporation chapter 11, 2025
Representation of Atlas SP in connection with the workout of approximately $1 billion of warehouse loans made to a non-debtor affiliate of Sunnova Energy Corporation in the chapter 11 proceedings of Sunnova Energy Corporation in the US Bankruptcy Court for the Southern District of Texas.
iHeart debt obligations, 2025
Representation of a lender in connection with an exchange offer and consent solicitation to amend iHeart's existing debt obligations, extending maturities and improving the balance sheet.
Out of court restructuring of online car dealership Carvana, 2022-2024
Representation of an ad hoc group of unsecured noteholders of Carvana Co. on a successful series of liability management transactions, including US$5.7 billion debt exchange offers, a concurrent cash tender offer, an at-the-market equity raise, an equity investment from Carvana's founders and a solicitation of consents to certain amendments to Carvana's existing indentures.
Recapitalization and uptier exchanges for Elara Caring, 2024
Represented 1st Lien lenders in a recapitalization transaction that included a new-money priming facility and uptier debt exchanges with maturity extensions for Elara Caring, a provider of home-based care.
Out of court restructuring in connection with asset sales for technology company Riverbed, 2023
Representation of Riverbed on a $850 million exchange with consent solicitation, IP-backed financing, and pre-arranged sale mechanics to monetize software assets.
Senior secured notes offering for Diversified Healthcare Trust, 2023
Representation of an investor on Diversified Healthcare Trust's (DHC) offering of US$941 million in aggregate principal amount of senior secured notes due January 2026, with a 12-month extension option.
DIP-to-exit financing for Intelsat S.A. chapter 11 proceedings, 2023
Representation of a term lender in connection with a senior secured DIP-to-exit financing consisting of a $500 million revolving credit facility and $3.190 billion term loan B facility in connection with the Chapter 11 proceedings of Intelsat S.A.
Upsized first-lien revolving credit facility for Talen Energy Supply, 2022
Representation of Talen Energy Supply, the wholly owned subsidiary of Talen Energy Corporation, on an upsized, first-lien revolving credit facility in the aggregate amount of US$848 million.
English scheme restructuring of Petroserv Marine Inc. term loan obligations, 2022
Represented the agent and existing term loan lenders in connection with restructuring of $700 million of term loan obligations pursuant to an English scheme of arrangement proposed by Petroserv Marine Inc. and sanctioned in June 2022.
Restructuring of offshore oil drilling company Seadrill, 2021
Seadrill II involved the representation of the coordinating committee of agent banks and export credit agencies representing holders of US$5.6 billion of senior secured indebtedness across 12 credit facilities in connection with the restructuring of the liabilities and obligations of Seadrill Ltd., and its affiliates. The result of that restructuring provided a significant structural improvement for senior lenders, the negotiation of settlements that attracted more than US$1 billion of new capital, and the re-profiling of Seadrill's capital structure.
Exchange offer and consent solicitation for Uptiering transaction for TriMark USA first lien term loan, 2020
Representation of a group of lenders constituting a majority of the first lien term loan lenders under TriMark USA's existing first lien credit agreement in connection with an uptiering transaction.
Restructuring of offshore oil drilling company Seadrill, 2018
Representation of the coordinating committee of facility agents and export credit agencies representing holders of more than US$7.4 billion of senior secured indebtedness across 13 credit facilities in the restructuring of the liabilities and obligations of Seadrill Limited, one of the world's largest offshore oil drilling companies, through Chapter 11 proceedings and a Bermuda scheme of arrangement.
Rob's further experience includes advising stakeholders in complex, cross-border financings and restructurings involving Optimum Communications, Bausch Healthcare, FinThrive, RSA Security, Trinseo, Dean Foods, Wawona, Yellow Corporation, Borr Drilling, Kaupthing, Afren, TORM, Urban One and Racing Post, acting for sponsors, lenders and creditor groups on large-cap acquisitions, distressed situations and liability management transactions in the US, Europe, and emerging markets.
Recommended, The Legal 500 UK 2016, Bank lending: investment grade debt and syndicated loans - London
Super Lawyer, Thomson Reuters' "Super Lawyers – London 2015"
Rob has spoken at a number of events, including co-hosting a seminar with Moscow partner Natalia Nikitina on the the role of unitranche and mezzanine finance at the LMA's Moscow Training Day on 14 April 2016 and, together with London partners John Cunningham and Dipen Sabharwal, delivering a presentation on commercial law at the Bright Network Festival on 15 September 2015.
US v European loan terms: countdown to convergence, JIBFL, (co-author)
Problems of interpretation in dealing with audit qualifications, JIBFL
Mercury's impact – cost and delay, IFLR
Name Your Terms: How term sheets have changed as banks fight for private equity mandates, IFLR
UK Financial Assistance: Good Riddance or Rogue's Charter?, IFLR
