ArentFox Schiff has built a national reputation through its indenture trustee and agent practice in large Chapter 11 cases. Andrew Silfen in New York represents indenture trustees, agents and creditors’ committees in major restructuring proceedings, while New-York based Jeffrey Gleit advises administrative agents and lenders in syndicated loan transactions, and Beth Brownstein in New York represents indenture trustees and creditors’ committees in major Chapter 11 cases. Jackson Toof in Washington DC handles complex bankruptcy litigation and indenture enforcement work. Aram Ordubegian in Los Angeles heads the team and advises companies, creditors’ committees and receivers in California and Western US middle-market matters.
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Key clients
- Official Committee of Unsecured Creditors of Imperial Pacific International
- Richard A. Marshack, Chapter 7 Trustee (In re Haah Automotive Holdings, Inc., US Bankruptcy Court Central District of California, 8:21-bk-11886-MW)
- Catholic Mutual Society of America and Catholic Relief Insurance Company
- T-Mobile in the Chapter 11 Case of Everstream Solutions LLC
- CIBC Bank USA
- David Kieffer, Court-Appointed Receiver of Thousand Oaks Marketplace L.P
- CACI, Inc. – Federal
- Bedrock Industries Investco 1 LLC (“Bedrock”)
- Apple Inc. and Meta Platforms, Inc.
- GOR, LLC
- KTRV LLC, et, al.
- BOKF, N.A. (Wesco Aircraft Holdings, Inc.)
Work highlights
Representing indenture trustees in large Chapter 11 matters, including the Chapter 11 cases of Wesco Aircraft Holdings, Inc., et al., (Incora) (Case No 23-90611)(DRJ). We represent BOKF in its capacity as indenture trustee for the (i) 8.50% 2024 Notes, (ii) the 9.00% due 2026; and (iii) 13.125% due 2027 with an outstanding principal amount of 647 million USD. Since the case commenced, BOK has stayed on as indenture trustee for the 2027 notes. This case involved a lengthy, complex and precedential trial about liability management transactions that involved an uptier transaction, alleged breaches of indentures, tortious interference claims and claims for fraudulent conveyances. The decision in these cases are precedential and leading caselaw on uptier transactions.| |Recently, the District Court reversed certain findings made by the Bankruptcy Court in the litigation. The Incora Chapter 11 cases are large and complex in both capital structure and business operations. Incora is a provider of supply chain management services in several industries and is the largest independent distribution and supply chain services provider in the global civilian and military aerospace industry. The COVI-19 pandemic devastated the aerospace industry and Incora’s business just as Incora was formed through the consolidation of Wesco and PattonAir. That merger left the company highly levered. The company engaged in various alleged liability management transactions prepetition that resulted in extensive bondholder litigation.
Represents the Official Committee of Unsecured Creditors of Imperial Pacific International (CNMI) LLC. The Debtor operated a thriving casino on the island of Saipan and was ultimately such down after the Chinese government started restricting its citizens from traveling to the US Territory to gamble in retaliation for what it perceived as anti-China policies of the United States. IPI was also in trouble with the casino commission based upon allegation of over a billion dollars of casino markers lost to gamblers with allegations of money-laundering. Aram Ordubegian is advising the Committee on how best to litigate against various international defendants to recover the casino markers and the other avoidable transfers from the Debtor. Furthermore, after obtaining debtor-in-possession financing, Aram has taken control over the reorganization and processed a sale of the operations and real estate. A closing of the sale is expected in the coming months.
Represents Wilmington Savings Fund Society, FSB as administrative agent and collateral agent under First Brands Group’s $1 billion DIP credit agreement in connection with the chapter 11 cases of First Brands Group and its affiliated debtors pending in the United States Bankruptcy Court for the Southern District of Texas. The team coordinated with all necessary counsel with respect to transaction mechanics, and prepared, reviewed and revised various documents in connection with the transaction. The First Brands case is one of the largest chapter 11 cases of 2025.
Practice head
Aram Ordubegian
Other key lawyers
Andrew Silfen; Jeffrey Gleit; Beth Brownstein; Jackson Toof