Experience Details

Representation: Debtor Representation - Atlas Air Worldwide Holdings, Inc.
Haynes and Boone Team: Buxbaum, Steven A., Everett, Scott W., Flores, Henry, Kattner, Kenric D., Lyda, Kourtney P., Parkins, Lenard M.
Services: Bankruptcy and Business Restructuring, Debtors and Debtors-in-Possession, Airline Reorganization, Restructuring, Workouts, and Recapitalizations, Cross-Border and International Insolvencies
2005

Description: Completed the successful restructuring of this company’s financial affairs, including restructuring more than $2.5 billion of debt in a bankruptcy case that was completed in only six months. Significant achievements in this case included restructuring the company’s enhanced equipment trust certificates (the first time this has ever been accomplished in a Chapter 11 case), restructuring all of the company’s leveraged leases and financed aircraft, effectuating the substantial buildup of cash during Chapter 11, and effectuating a rights offering of new common stock to creditors pursuant to the Chapter 11 plan. Atlas operated in Europe, the Middle East, and Asia and the reorganization involved coordination with numerous foreign jurisdictions and regulatory authorities.