Akin Gump has a dedicated team of finance lawyers who routinely advise on distressed transactions in and outside of formal bankruptcy proceedings. We work seamlessly with our market-leading global Financial Restructuring team, known for its representation of creditors, secured lenders and debtors in complex financial restructurings.
We have played a leading role representing constituents in some of the highest profile restructurings of late, including Tribune Company, Eastman Kodak, Energy Future Intermediate Holdings (formerly known as TXU), Washington Mutual, Kaupthing, Landsbanki and Glitnir (three major failed Icelandic banks), Dynegy, Nortel Networks, Wind Hellas, Suntech, Royal Imtech NV, Uralita and Technicolor (formerly known as Thomson).
Distressed debt traders rely upon us to review credit and debt documents and develop a risk profile for potential investments.
Clients frequently turn to us to devise creative solutions to successfully restructure distressed balance sheets. We frequently advise troubled companies and their creditors on:
- “amend & extend” transactions
- bridge loans
- debtor-in-possession (DIP) loans
- deleveraging exchange transactions, including:
- debt-for-equity swaps
- debt-for-debt swaps
- exit financings
- mezzanine financings
- rescue financings
- term loans and revolvers
In addition, we advise numerous alternative capital sources on a wide variety of opportunistic financing transactions.