IG Design Group Americas and its domestic subsidiaries, a design, manufacturing, sourcing and distribution company of branded and private label consumer products, has voluntarily filed for Chapter 11 relief in the United States Bankruptcy Court for the Southern District of Texas to facilitate a court-supervised marketing and sale process pursuant to section 363 of the Bankruptcy Code. The company intends to pursue a value maximization strategy by engaging with buyers interested in purchasing certain of its business segments as a going concern, while concurrently winding down its domestically manufactured woven ribbon products business and supporting assets.
Latham & Watkins represents IG Design Group in the process with a restructuring and special situations team led by New York partner Ray Schrock, Chicago/New York partner Caroline Reckler, and New York counsel Adam Ravin, with associates Randall Weber-Levine, Jackie Kleban, Esteban Woo Kee and Meghana Vunnamadala. Advice was provided on mergers and acquisition matters by partner Daniel Mun and counsel Ben Kaplan, with associate Daniel Maggen; on finance matters by Los Angeles/New York partner Nathan Whitaker and Los Angeles partner Mark Morris, with associates Julia Steinberg, Amrita Mukherjee and Daniella Moretti; on tax matters by Chicago partner Joseph Kronsnoble; on labor, benefits and employee matters by Chicago partners Nineveh Alkhas and Benjamin Rosemergy; and on intellectual property matters by New York partners Jeffrey Tochner, with associate Sebastian Moss.
