BofA, Ankura Support Remington Exit from Chapter 11

Remington Outdoor Company emerged from Chapter 11 after successfully implementing its plan of reorganization. The company is exiting with a new $193 million ABL loan, a new $55 million FILO term loan and a new $100 million term loan. 

Remington Delays Bankruptcy, Ankura Trust Becomes Agent for Lenders

Bloomberg reported that Remington plans to postpone its bankruptcy filing by a week to March 14, as Bank of America terminated its role as administrative agent for the company’s term loan lenders.

Price Joins Ankura Trust as Managing Director

Ankura Trust, a newly formed New Hampshire-chartered non-depository trust company specializing in loan agency services in distressed and defaulted situations, appointed Lisa J. Price managing director.

Sawyer to Lead New Ankura Trust Company

Ankura launched Ankura Trust, a newly formed New Hampshire-chartered non-depository trust company that will specialize in providing successor indenture trustee and loan agency services in distressed and default situations. David Sawyer will lead the new venture as CEO.