Latham & Watkins added George Klidonas to the firm’s New York office as a partner in the restructuring and special situations practice within the finance department. Klidonas joined Latham from Kirkland & Ellis.
GNC Holding and certain of its secured lenders and key stakeholders reached an agreement to pursue a dual-path process that will allow the company to restructure its balance sheet and accelerate its business strategy through Chapter 11 of the U.S. Bankruptcy Code.
Libbey received court approval of the first day motions of its voluntary Chapter 11 petitions, including approval of an initial $30 million of proposed DIP financing for which Cortland Capital Market Services is serving as administrative agent and collateral agent, according to an 8K.
Alvarez & Marsal is serving as restructuring advisor to Libbey, which filed voluntary petitions under Chapter 11 of the Bankruptcy Code. In addition Libbey’s existing lenders agreed to provide up to $160 million in DIP financing.
Suzzanne Uhland joined Latham & Watkins’ New York office as a partner in the restructuring and special situations practice within the finance department. Uhland joined Latham from O’Melveny & Myers.
FTI Consulting served as restructuring advisor for Save A Lot, a U.S. discount grocer, which successfully completed the recapitalization of its business and delverged its balance sheet. In addition, Alix Partners served as restructuring advisor to Save A Lot’s term loan lenders.
Justin T. Stolte has returned to Latham & Watksins’ Houston office as a partner in the Corporate Department and member of the Mergers & Acquisitions Practice.
Latham & Watkins has added Justin Hamill as a partner in the NY office corporate department and member of the mergers & acquisitions, private equity, and entertainment, sports & media practices.
David Beller joined law firm Latham & Watkins as a partner in the Corporate Department and member of the Mergers & Acquisitions and Private Equity Practices in the New York office.
SIG Combibloc secured a $1.1 billion loan from a syndicate of banks led by Barclays Bank serving as administrative agent on the transaction.