💥"Do Not Ride Spirit ... They Suck"💥
Spirit Airlines Loved its Bankruptcy Experience + Winners & Losers.
Welcome back to the rat race, y’all. It’s September: fall temperatures are starting to settle over Chicago and New York City, the Mets and Yankees both look playoff-bound, the U.S. Open is in full swing (driving up the price of honeydew, naturally), and all eyes are on September 16–17, 2025, when the Federal Open Market Committee (FOMC) meets to signal what it fears most — a softening labor market or stubborn inflation.
Fed Chairman Jerome POW-ell spoke at the Fed’s annual Jackson Hole conference while we were on break and the market immediately began pricing in a 25 bps September Fed Funds Rate cut (89.6% probability as of 9/1/25, up to 91.6% on 9/2/25).
The market seems to think another cut will follow before year end with 3-4 cuts leading to a 3% rate by the end of ‘26. Not that those predictions have meant jack sh*t, historically.
We wondered how the market would react to July’s core PCE reading — PCE moved up to 2.9%, the fourth consecutive increase — and, frankly, we were surprised to see that the market be like …
… even though the Fed’s preferred inflation measure is going in the complete opposite direction of its target level.
Looking for a new house? Get f*cked because the 30Y Treasury, upon which mortgage rates are based, is higher now than it was when the Fed started cutting rates in September ‘24 — by almost a full 100 bps.
And gapping higher.
It seems the market remains concerned about what’s transpiring in DC, namely money printing and deficit spending.
Or, said another way, inflation, 🤷♀️.
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Today, we’re playing a bit of catch-up. There weren’t many chapter 11 bankruptcy filings while we were on break — G-d forbid anyone's Hamptons plans get disrupted — but there were enough notable developments to justify reviving a long-missing PETITION segment: our 'Winners and Losers.'
Let’s ease y’all back to the office …
✈️New Chapter 22 Bankruptcy Filing - Spirit Aviation Holdings, Inc ($FLYY)✈️
By now we’re sure most of you have heard the news: Spirit Aviation Holdings, Inc. ($FLYY) (“Spirit”) and five affiliates (together with Spirit, the “debtors”) filed chapter 22 bankruptcy cases on August 29, 2025 (in the Southern District of New York again … before Judge Lane again) — cementing itself as perhaps the most egregious violator of PETITION’s “Two-Year Rule” … literally … ever.
It’s hard to imagine why the debtors are having problems and how we got here, 🙄:
Seems like these guys got it right:
Pour one out for the schmucks who chose biglaw as a profession: we hope you loved missing Labor Day weekend. If it makes you feel any better, Johnny was thinking of — and getting sh*tfaced for — you while flying to an exciting locale on a lovely airplane … just not one flown by these f*cking idiots ☝️.
Let’s jump straight into the September 2, 2025 first-day hearing — an event that gave us immediate PTSD. Recall Spirit’s counsel, Davis Polk & Wardwell LLP’s (“DPW”) Marshall Huebner, in the prior whatever-the-hell-non-bankruptcy-bankruptcy:
He legit tried to convince everyone that Spirit hadn’t filed a bankruptcy proceeding and, well folks, here he goes again:
“Rather than going back decades or even years, I would instead like to start only a few months ago on November 18th of last year. Because, despite your Honor’s experience with Spirit in its previous surgical lightning round restructuring last fall, I would like to submit that for all intents and purposes, this one and not that one would, in fact, be the company’s first true chapter 11 proceeding.”
LOL, hot damn, Mr. Huebner, if you’re not consistent to a fault.*
Recall that Spirit filed in November ‘24 after Judge Young, from the U.S. District Court for the District of Massachusetts, did consumers a solid and basically made a filing inevitable after blocking Spirit’s then-pending merger with JetBlue Airways Corp ($JBLU).
The US Department of Justice popped open a budget-friendly champagne sparkling wine too, heralding its alleged win for consumers and competition. Here’s then U.S. Attorney General, Merrick Garland, on the decision:
“Today’s ruling is a victory for tens of millions of travelers who would have faced higher fares and fewer choices had the proposed merger between JetBlue and Spirit been allowed to move forward.”
In March ‘24, Spirit and JBLU called off the merger and, once again, the DOJ issued a press release that celebrated its antitrust crusade. Here’s then Assistant Attorney General, Jonathan Kanter:
“We fought this case to protect consumers who, as the court recognized, ‘otherwise would have no voice.’ I am incredibly proud of the Antitrust Division’s team and our state law enforcement partners’ tireless advocacy.”
Congratu-f*cking-lations y’all. Your actions directly led to Spirit’s November ‘24 totally-not-a-filing filing, and we covered it (and the run-up to it) extensively …
… so we’ll largely stop there on it other than to say the first bankruptcy right-sizing was primarily a financial restructuring …
… and the plan was to cut that debt stack by $795mm via equitization of the senior secured notes and convertible senior notes, while simultaneously providing some new money via a $350mm equity rights offering and $840mm in exit secured notes.**
In March ‘25, Spirit got the court’s go-ahead and emerged from bankruptcy. The next month, it then got approval to list on the NYSE American exchange and trading began on April 29, 2025. Here’s a recording of the stock performance:
What? Is that 👆 not accurate? Take a look ⬇️:
Let’s peep the 2Q’25 10-Q to see what went right and, more importantly, what went wrong. Starting with the former, and at the risk of overloading y’all with airline KPI jargon, the table below gives a good overview:
You’ll notice that Spirit has significantly lowered its overall volume numbers, primarily due to a culling in departure flights, which resulted in the debtors’ efforts to offload 21 of their 215 Airbus A320-family aircraft (but of which at least 19 still reside on the balance sheet).
The good news is that, in Spirit’s attempt to rebrand itself out of the ultra low cost carrier bucket, revenue KPIs don’t look half bad.
But further down the income statement nothing much changed. Spirit reported 2Q’25 revenues of $1b, down 20.4% YoY, and operating loss actually ballooned to $184mm in 2Q’25 from $153mm in 2Q’24. It also burned through $250mm in operating cash for the period starting March 13, 2025 to June 30, 2025.
A far cry from the projections used to confirm the last bankruptcy plan, which show, LOL, a $222mm net operating loss for FY25.
Performance. Was. Not. Even. Close. Hell, Q2’25 got Spirit ~83% of the way to its yearly loss goal.
Here’s the as-financially-restructured debt load …
… except, um, the 10-Q is dated August 11, ‘25, and given Spirit continued to hemorrhage cash, it included this nugget:
Less than two weeks later, Spirit added to its $407.5mm of unrestricted cash by drawing down the full $275mm on its revolver.***
But let’s back up again to August 13, 2025 because, by then, employees were already sh*tting their pants and CEO Dave Davis tried to calm the masses via memo:
“Yesterday, we filed our 10-Q, outlining our second quarter 2025 financial results. This filing generated media coverage and, naturally, a lot of questions.
Let me start by providing some context around what’s included in the report. The report uses the phrase ‘substantial doubt about the Company’s ability to continue as a going concern.’ This is a phrase required by our outside auditors to convey that there is risk if we do not make changes. But, we are.”
A week or so later, on August 22, 2025, Moody’s Ratings downgraded Spirit’s corporate family rating to Caa3 from Caa1 due to “deteriorating liquidity”:
“We forecast Spirit will burn more than $500 million of cash in 2025 due to weak domestic leisure demand, elevated domestic capacity and a challenging pricing environment. We forecast this amount of cash burn will result in the company violating its minimum liquidity covenant of $450 million as early as the end of 2025, barring any liquidity raises by the company.”
And three days later, on August 25, 2025, Spirit’s largest lessor, AerCap Holdings N.V. ($AER), presumably spooked by the disastrous operational results since emergence, pulled the plug and terminated 36 committed aircraft lease agreements with delivery dates between ‘27 and ‘28, and also sent a notice of default on 37 existing aircraft leases.
CFO and first day declarant Fred Cromer, blames that for the filing:
“Concerned that the disclosure of these purported default notices by its biggest lessor could prompt other actions from other counterparties, including other aircraft lessors, Spirit concluded that it had no choice but to quickly seek the protections of chapter 11. While Spirit is continuing to have negotiations with AerCap to resolve these and other issues, it stands ready to litigate the validity of the notices and damages that Spirit has suffered as a result of AerCap’s actions.”
Four days! Quick turnaround. But plenty of time to make sure that he, Mr. Davis and others on management got taken care of (🖕):
Quite the payoff for Mr. Davis who has been on the job for just a little over four months.
But we digress. Going back to AerCap and the debtors’ other lessors, Mr. Huebner had choice words at the first-day hearing:
“… I wanna say the following with clarion clarity. Many of our lessors, and I'm guessing that many of them are listening, may well have a vested interest in offering us straight up liquidity or unusually attractive financing as part of the resolution of our relationship with them and our decisions as to which of their aircraft, if any, we keep and on what terms. That's so important, I'm gonna repeat it. Many of our lessors may have a vested interest in quickly offering us straight up liquidity or unusually attractive financing as part of the resolution of our relationship with them and which, if any, of their aircraft we keep and on what terms.”
Subtlety obviously ain’t on the menu. That’s because neither is DIP financing. For now, Spirit will attempt to tap into its >$275mm cash balance to finance the cases … but, as of writing (early AF on September 3), a motion hasn’t yet hit the docket. It will and soon (if it hasn’t already by the time you read this): Judge Lane scheduled the hearing for tomorrow, September 4, 2025, at 11:30am ET.
While folks ponder ponying up to fund the cases, here’s the petition date debt stack which, in comparison to the chart just👆, shows the RCF draw:
But you should probably know the debtors have other issues. Back to Mr. Cromer:
“Spirit’s leased aircraft have a [non-balance sheet] embedded maintenance liability in excess of $1.0 billion— several hundred million of which relates to aircraft anticipated to be shed during these Chapter 11 Cases. In addition, only 157 of Spirit’s aircraft are available to fly as 38 are currently grounded due to [a] Pratt & Whitney powdered metal issue and an additional 19 are grounded because the Company is planning to sell them.”
The debtors have 41 additional impacted engines that will ground aircraft over the next two years.
In any event, Mr. Huebner intends to address all that:
“While unexpected circumstances compelled the company to act swiftly and decisively in the last week, Spirit is, as I said before, a spectacular candidate to deploy the tools of Chapter 11 to emerge stronger, healthier, and viable. Tools that intentionally, although admittedly with the benefit of 20/20 hindsight, possibly, unfortunately, went totally unused last year. For this will be a full operational restructuring in which no component of the business will go unexamined.”
Curious how the US trustee feels about the fastest chapter 22 in history? Here’s Shara Cornell to tell you:
“We have a lot of questions about the progression from Spirit 1.0 to Spirit 2.0, if you will. And while it isn't really up today, I just wanted to preview for the court some of the concerns. Most notably, that we have a lot of familiar faces here today. The same group that brought us Spirit 1.0 has now brought us Spirit 2.0, the fastest Chapter 22 in history. A critical and objective lens is going to be needed to examine how we got here. And I just wanted to preview that for Your Honor.”
We’re left with more questions than answers:
📍What does the debtors’ restructured fleet look like?
📍Will we get to see the AerCap situation devolve into litigation?
📍Will Frontier Group Holdings Inc. ($ULCC), which previously made overtures towards Spirit, make another surprise appearance (there have already … maybe? … been recent talks)?
📍Will “dedicated customers of Spirit,” 🖕, abandon the airline in droves?
Mr. Huebner apparently thinks that last question is pure folly:
“I will leave you and all those listening with this. Despite the challenges currently facing Spirit, and not so parenthetically, many, if not all of its peers, Spirit's, quote, net promoter score, which measures its customers' likelihood to return to the airline, is higher in 2025 than it has ever been in the company's history. Spirit began offering new premium selections in August 2024 as part of a significant transformation to deliver a friendlier, more comfortable, and more cost-effective travel experience. And in June 2025, Spirit rebranded its value options to categories that include Spirit First, Premium Economy, and Valued, categories far more familiar to the traveling public. Moreover, during 2025, Spirit has risen to near the very top of the industry in officially reported on-time performance and other reliability metrics. We are currently third among all U.S. carriers in on-time performance behind only Hawaiian, who always basically wins because they fly where it's always hot and sunny, and Delta. We are ahead of every other U.S. carrier. This speaks volumes about Spirit and its 25,000 dedicated employees, and our current record-high customer satisfaction and on-time performance is a testament to Spirit's investment in building a friendly and flexible experience and a compelling value proposition for its customers. So to every single person listening to this hearing, try the evolving Spirit. Odds are you will like it a lot.”
“We”? Really? We’d love to see how many miles Mr. Huebner has racked up flying Spirit.
As noted above, parties will reconvene tomorrow, September 4, 2025, at 11:30am ET for a cash collateral hearing, and the second day hearing will follow on September 30, 2025 at 11am ET.
The debtors are represented yet again by Davis Polk & Wardwell LLP (“DPW”) (Marshall Huebner, Darren Klein, Christopher Robertson, Moshe Melcer, Noah Sosnick) as legal counsel, Debevoise & Plimpton LLP (“Debevoise”) (Jasmine Ball) as fleet counsel, Morris, Nichols, Arsht & Tunnell LLP (“MNAT”) as conflicts counsel, FTI Consulting, Inc ($FCN) (Marc Bilbao, Dan Wikel, Steven Strange, Dave Fowkes, Michael Paykin, Kris Hall) as financial advisor, and PJT Partners LP ($PJT) as investment banker. Notably, while DPW, Debevoise and MNAT are all repeat players, FCN and PJT weren’t involved in the first go-around. Hopefully the folks at Alvarez and Marsal North America, LLC and Perella Weinberg Partners LP ($PWP) enjoyed the holiday.
The Air Line Pilots Association is represented by Cohen, Weiss and Simon LLP (Richard Seltzer, Peter DeChiara, Melissa Woods, Matthew Stolz, Jeff Wang) as legal counsel. The Ad Hoc Committee of Secured Noteholders is yet again represented by Akin Gump Strauss Hauer & Feld LLP (Michael Stamer, Jason Rubin) as legal counsel. AerCap is represented by Pillsbury Winthrop Shaw Pittman LLP (Michael Burke) as legal counsel. A group of aircraft lessors is represented by Holland & Knight LLP (Barbra Parlin) as legal counsel. A different group of aircraft lessors is represented by Vedder Price PC (Michael Edelman) as legal counsel. The Association of Flight Attendants is represented by Parkins & Rubio LLP (Charles Rubio, Lenard Parkins) as legal counsel. U.S. Bank National Association is represented by Dorsey & Whitney, LLP (Samuel Kohn, Michael Galen) as legal counsel. Citibank, N.A. is represented by Milbank LLP (Andrew Harmeyer) as legal counsel.
*Wait, the first one doesn’t count? Do the fees the professionals were paid count? Perhaps Mr. Huebner and the other profs will gladly return the approximately $33mm in professional fees generated in that non-bankruptcy, yeah?
**The exit secured notes carry an interest rate of of either (i) 8% cash and 4% PIK or (ii) 11% cash. The exit secured notes mature on March 12, 2030 and were redeemable by March 12, 2027 at a 6% premium.
***That 8-K also disclosed that Spirit was contending with a minimum liquidity covenant on its credit card processing agreement with U.S. Bank National Association ($USB), and failure to comply would mean the processors could put a holdback on cash. At the end of 2Q’25, Spirit’s maximum holdback exposure was $491.6mm. But it entered into two amendments that transferred an additional $50mm into a pledged account in favor of USB and allows USB to (i) holdback up to $3mm per day until USB’s exposure is fully collateralized and (ii) remain fully collateralized as USB’s exposure increases or decreases. In exchange, USB extended the expiry date of the credit card processing agreement from December 31, 2025 to December 31, 2027, with two automatic one-year extensions. The minimum liquidity trigger for holdbacks was, of course, also removed. Net net, a sh*tload of liquidity got locked the f*ck up.
👍Winners & Losers of our Break👎
Winner #1: The S&P500.
After falling 0.7% yesterday on tariff uncertainty (and poor manufacturing readings), the S&P 500 Index remains up 9.3% YTD, recovering nicely from the early-April “Liberation Day” shock that sent equities plummeting for a hot second. This 👇is a pretty wild chart:
The gain tracks with Q2 earnings’ YoY growth of 11%. Per Goldman Sachs Group Inc. ($GS), when you ex-out energy, real revenues rose 4.8% YoY in Q2, up from 3.3% in Q4’24. The uptick in revenue growth among the largest public companies flies in the face of real GDP growth, which slowed from 2.5% in Q4’24 to 2% in Q2’25. Said another way, the S&P500 is outperforming the overall US economy, 🤔. How can this be? Per GS:
“Two factors contributed to the divergence. First, companies in the S&P 500 have greater international sales exposure and benefited from dollar depreciation. Our equity analysts estimate that real sales growth for the S&P 500 decelerated to 2.7% on a constant-currency basis in Q2 … Second, rapidly growing information technology companies — sales grew 11% for the median info tech company in the S&P 500 — hold an outsized weight in the S&P 500. Real sales growth on a constant-currency basis was negative for small- and mid-cap companies.” (emphasis added)
As tariff uncertainty continues to reverberate through the system — its hard to say where things go now that at least one court has pushed back on President Trump’s tariff initiative, effective mid-October, and the administration appeals — we may very well see continued sales deceleration.
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Winner #2: The M3-Brigade SPAC Bromance.
In case you haven’t noticed, SPACs are back, baby, and even PETITION fave (🖕) Chamath Palihapitiya is back at it with an effort to raise $250mm for his latest grift vehicle, American Exceptionalism Acquisition A. After pillaging Moms and Pops during the pandemic, Mr. Palihapitiya is at least keeping it real:
“We will be attempting to find a great company at a great valuation to take public, but without doubt, the investment will entail substantial risk including the possibility of total loss. Unlike my private portfolios which hold many companies and thereby provide diversification, American Exceptionalism Acquisition Corporation A will be an investment vehicle into a single operating company. Consequently, we believe that this investment is most suitable for institutional investors, and retail investors should approach with caution, if at all. We believe that retail investors should only participate if (a) this investment is a small part of an otherwise diversified portfolio, (b) this investment is a quantum of capital they can afford to completely lose and (c) if they do lose their entire capital, they will embody the adage from President Trump that there can be ‘no crying in the casino.’”
What a piece of sh*t.
Anyway, enough about Chamath because our very own Mohsin Meghji (of M3 Partners) and Matthew Perkal (of Brigade Capital Management) are back (with some friends) with another ($345mm) at-bat — the latest in a spotty run that, among others, includes one post-SPAC success (Infrastructure and Energy Alternatives Inc.), one failed merger (Syniverse), and one seeming sh*tshow (Greenfire Resources Ltd.). This new one is focused on cryptocurrency and blockchain, a space Mr. Meghji gained significant familiarity with while serving as an advisor in various crypto-related chapter 11 bankruptcy cases (e.g., Celsius Network, BlockFi). We wish them luck with this one.
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Winner #3: Gabe’s.
Speaking of Brigade Capital Management, it is now the owner of regional off-price retailer Gabe’s, converting 75% of its term loan into equity — along with Arbour Lane Capital Management and Anchorage Capital Advisors — in an out-of-court deal that (i) left prior owner and PE sponsor Warburg Pincus licking its wounds and (ii) spared the company the cost and headache of an in-court process. In connection with the deal, the company also secured a fresh cash infusion. With its fresh start, the company apparently has plans to expand from 160 stores across 20 states to potentially, gulp, over 1000 stores all across the US, 🤔. Um, ok, good luck with that.
Kirkland & Ellis LLP, Berkeley Research Group and Jefferies Group LLC served as legal counsel, financial advisor, and investment banker, respectively, to the company.
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Winner #4: City Brewing Company LLC.
Pour one out folks, there’s another out-of-court deal to celebrate! City Brewing Company LLC, “…one of the largest independent co-manufacturers of beer, flavored malt, ready-to-drink, and non-alcoholic beverages in the United States…” consummated an out-of-court transaction that simultaneously de-levered the balance sheet while enhancing liquidity. Similar to Gabe’s, the company’s existing lenders will be taking over. Sullivan & Cromwell LLP, FTI Consulting Inc. ($FCN) and Evercore Inc. ($EVR) served as legal counsel, financial advisor, and investment banker, respectively, to the company.
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Loser #1: Fried Frank Harris Shriver & Jacobson LLP.
Sycamore Partners (“Sycamore”) closed its $23.7b take-private of Walgreens Boots Alliance (“Walgreens”), looking to apply its always-successful and never-ever-bankrupted retail model to the retail healthcare/pharma context, despite any health care experience whatsoever. The PE shop will look to shed VillageMD, a value destroying segment that came dangerously close to its very own bankruptcy not so long ago. If Walgreens ultimately does go bankrupt down the line, it won’t have Fried Frank in its corner as company counsel — despite what some industrious lawyers might have promised back in early ‘24. Kirkland & Ellis LLP acted as legal advisor to Walgreens while Davis Polk & Wardwell LLP acted as counsel to Sycamore.
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Loser #2: Lower/Middle Market Borrowers.
Fitch Ratings reported that the US private credit default rate fell to 5.2% in July from 5.5% in June. This, on the surface, looks like a positive development for private credit but there are a few key factors to consider: (a) the rate was 4.6% as recently as December ‘24, (b) interest payment deferrals and PIK conversions drove 70% of the 63 unique defaults TTM, and (c) per Bloomberg, “[i]n the second quarter, PIK income in [business development companies] reached the highest level since 2020, climbing to 6%….” Lincoln International confirms that PIK usage is increasing. Per Bloomberg:
“The share of private credit borrowers that deferred at least some of their cash interest payments surged in the second quarter to the highest in almost four years, pointing to growing stress in the $1.7 trillion market, according to data from valuation firm Lincoln International.
The percentage of debt investments with some sort of payment-in-kind increased to 11.4% in the quarter, according to Lincoln. That compares with 7.4% in the third quarter of 2021, when the firm began tracking the data.
About half of that is considered ‘bad’ PIK by Lincoln, which defines this as borrowers that started deferring interest payments during the life of the loan as opposed to when the debt was first put in place.
The distinction is typically used to separate borrowers that use PIK and may be facing deteriorating performance from those that have always used the option.”
What does this mean? Extend-and-pretend — likely until the Fed lowers interest rates (which very well may be coming soon) — is leading to default rate moderation. But default rate moderation cannot hide fundamental cash flow deterioration (with PIK masking declining credit quality).
Of course none of this is stopping the private credit space from getting an influx of investor cash so 🤷♀️.
📚Resources📚
We have compiled a list of a$$-kicking resources on the topics of restructuring, tech, finance, investing, and disruption. 💥You can find it here💥.
📤 Notice📤
John Shepherd (Senior Managing Director) joined Accordion from Ankura Consulting Group.
Michael Comerford (Partner) joined Choate Hall & Stewart LLP from Katten Muchin & Rosenman LLP.
William Derrough (Global Chairman of Restructuring) joined Jefferies Group from Moelis & Co.
🍾Congratulations to…🍾
Alexander Tracy for being named Head of US Restructuring at Perella Weinberg Partners.
Alvarez & Marsal LLC (Andrea Gonzalez) for securing the financial advisor mandate on behalf of the official committee of unsecured creditors in the Linqto Texas LLC chapter 11 bankruptcy cases.
Anchorage Capital for raising $1.5b for its opportunistic credit vehicle, Anchorage Credit Opportunities Fund IX, which will play in the lower/middle market.
Dundon Advisers LLC (Joshua Nahas) for securing the financial advisor mandate on behalf of the official committee of unsecured creditors in the America’s Gardening Resource Inc. chapter 11 bankruptcy cases.
Dundon Advisers LLC (Joshua Nahas) and Foresight Restructuring LLC (Yi Zhu) for securing the co-financial advisor mandate on behalf of the official committee of unsecured creditors in the IG Design Group Americas Inc. chapter 11 bankruptcy cases.
Grey Reed (Jason Brookner, Lydia Webb, Emily Shanks) for securing the legal mandate on behalf of the official committee of unsecured creditors in the Aleon Metals, LLC chapter 11 bankruptcy cases.
Huron Consulting Services LLC (Ryan Bouley) for securing the financial advisor mandate on behalf of the official committee of unsecured creditors in the Runitonetime LLC chapter 11 bankruptcy cases.
Lowenstein Sandler LLP (Jeffrey Cohen, Eric Chafetz, David Posner, Erica Mannix) and Munsch Hardt Kopf & Harr PC (John Cornwell, Brenda Funk) for securing the legal mandate on behalf of the official committee of unsecured creditors in the TPI Composites Inc. chapter 11 bankruptcy cases.
Michael Fishel on launching The Fishel Law Group.
Province LLC (Adam Rosen) for securing the financial advisor mandate on behalf of the official committee of unsecured creditors in the Del Monte Foods Corporation II LLC chapter 11 bankruptcy cases.
Province LLC (Paul Navid) for securing the financial advisor mandate on behalf of the official committee of unsecured creditors in the LifeScan Global Corporation chapter 11 bankruptcy cases.
Miller Buckfire & Co. LLC (John D’Amico) for securing the investment banker mandate on behalf of the official committee of unsecured creditors in the Del Monte Foods Corporation II LLC chapter 11 bankruptcy cases.
Orrick Herrington & Sutcliffe LLP (Nicholas Poli, Mark Franke, Brandon Batzel, Ari Roytenberg) and Morris James LLP (Eric Monzo, Siena Cerra) for securing the legal mandate on behalf of the official committee of unsecured creditors in the AGDP Holding Inc. (a/k/a Avant Gardner) chapter 11 bankruptcy cases.
Pachulski Stang Ziehl & Jones LLP (Bradford Sandler, Shirly Cho, Maxim Litvak, Cia Mackle, Theodore Heckel) and Small Herrin LLP (Guss Small, Anna Humnicky, Andy Nguyen) for securing the legal mandate on behalf of the official committee of unsecured creditors in the Wellmade Floor Coverings International Inc. chapter 11 bankruptcy cases.