Chapter 15

Liz has represented debtors in various complex cross-border cases including contested foreign recognition proceedings involving the United Kingdom, the British Virgin Islands, French, and Canadian Laws.

• Represented a debtor, a Mississauga, Ontario-based leading retail consumer company specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable energy options, in its Chapter 15 proceedings in the United States to recognize proceedings commenced in Canada under the Companies’ Creditors Arrangement Act (CCAA).
• Represented a debtor and an ad hoc committee of noteholders in restructuring of US$300 million senior notes issued by the debtor by way of a scheme of arrangement in the British Virgin Islands recognized under Chapter 15 of the U.S. Bankruptcy Code.
• Represented a debtor, in its comprehensive restructuring strategy to deleverage their balance sheet, increase liquidity, extend maturity dates on its revolver and its 3 tranches of senior secured notes and to change the governing law for its funded debt obligations from New York to UK law.
• Represented a debtor in its Chapter 15 proceeding for recognition of proceedings in the United Kingdom in connection with its restructuring plan under the new Part 26A of the Companies Act 2006.
• Represented a debtor and its affiliates in their chapter 11 cases. The debtor obtained confirmation of its plan of reorganization in less than 24 hours and emerged from chapter 11 that same day. Pursuant to the prepackaged chapter 11 plan of reorganization, The debtor de-levered its balance sheet by more than $400 million.
• Represented a British fashion retailer, in its parallel company voluntary arrangements (CVA) for two of its English tenant companies, and its Chapter 15 proceeding in the United States. The debtor has approximately 3,000 employees across the world and has 255 directly operated stores, franchises, concessions and outlets across 27 countries.