2014

Aircraft Manufacturer Equitizes Debt, Avoids Interest in Chapter 11 Restructuring

United States - New York

Nora Schweighart represented a worldwide manufacturer of business, special mission, light attack and trainer aircraft in pre-arranged Chapter 11 cases in U.S. Bankruptcy Court for the Southern District of New York. With more than $1 billion in assets and debt at the time of filing, the company reached an agreement with multiple senior secured lenders and senior bondholders on a financial restructuring plan that would equitize $2.5 billion of funded debt and avoid $125 million of annual cash interest expense.

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