Michael Sloman

• Global Clean Energy Holdings, Inc. — Representation of Global Clean Energy Holdings, Inc. (GCEH) and 14 of its subsidiaries (“Global Clean”) in their prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Global Clean is a vertically integrated renewable fuels innovator that produces ultra-low carbon renewable fuels. Global Clean entered Chapter 11 to facilitate a debt-for-equity exchange with certain of the company’s key stakeholders, including lenders holding 96% of the company’s funded secured debt, who are supporting the Chapter 11 through a restructuring support agreement and an agreement to provide the company with approximately $200 million in new money debtor-in-possession capital.*
• Tosca Services, LLC — Represented Apax Partners portfolio company Tosca in an amend and extend transaction using liability management technology that garnered 100% lender participation and resulted in material liquidity enhancements that will fund capital expenditures and future growth. Through the transaction, Tosca obtained $100 million of new liquidity in the form of super senior first-out term loans. Additionally, all existing term lenders provided a significant maturity extension and agreed to permit Tosca to pay interest partially in kind and eliminate amortization payments.*
• Vertex Energy, Inc. — Representation of Vertex Energy, Inc. (VTNR) and 23 of its subsidiaries (“Vertex”) in their prearranged Chapter 11 cases filed in the U.S. Bankruptcy Court for the Southern District of Texas. Vertex is a leading energy transition company and marketer of high-quality refined products. Vertex filed for Chapter 11 with a restructuring support agreement (“RSA”) that is supported by 100% of the company’s term loan lenders. The RSA and related Chapter 11 plan provide for a recapitalization of the business through a debt-for-equity exchange or a sale of all or substantially all of the debtors’ assets. Vertex commenced its Chapter 11 cases with a $280 million debtor-in-possession financing facility and a commitment from the Company’s intermediation counterparty to continue performing under Vertex’s critical intermediation facility.*
• Digital Media Solutions, Inc. — Representation of Digital Media Solutions, Inc. and 36 of its affiliates in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Digital Medial Solutions filed the Chapter 11 cases with the support of its prepetition lenders through the funding of an approximately $122 million debtor-in-possession financing facility consisting of $30 million in new money and approximately $92 million in a “roll-up” of prepetition debt. The prepetition lenders serving as the DIP lenders also entered into a stalking horse agreement with Digital Media Solutions for a $95 million credit bid, subject to higher or otherwise better bids.*
• Rite Aid Corporation — Representation of Rite Aid Corporation (“Rite Aid”) and 119 of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey. Rite Aid entered its Chapter 11 cases with $3.45 billion in debtor-in possession financing. Following months of negotiations including court-ordered mediation with all of Rite Aid’s key stakeholders, Rite Aid was able to delever its balance sheet by approximately $2 billion through a recapitalization transaction with its senior secured noteholders and resolve more than $2.5 billion in pending and threatened litigation.*
• SmileDirectClub, Inc. — Representation of SmileDirectClub, Inc. and eight of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Through its Chapter 11 cases, the Company obtained access to up to $80 million of debtor-in-possession financing and will seek to implement a going concern transaction following a comprehensive marketing process.*
• Ideal Protein of America, Inc. — Representation of Ideal Protein of America and its Debtor affiliates in their Chapter 15 proceedings in the United States and proceedings commenced in Canada under the Companies’ Creditors Arrangement Act (CCAA).*
• Bed Bath & Beyond, Inc. — Representation of Bed Bath & Beyond, Inc. and 73 of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey. Through its Chapter 11 case, Bed Bath & Beyond conducted a value maximizing sale transaction for substantially all of its intellectual property assets and an orderly wind down of its business pursuant to a consensual Chapter 11 plan.*
• Dunn Paper Holdings, LLC — Representation of Dunn Paper Holdings, LLC and its affiliates and subsidiaries in connection with an out-of-court restructuring by which an ad hoc group of first lien lenders, comprising all of the company’s approximately $380 million of funded debt, consensually foreclosed upon substantially all of Dunn’s assets and assumed majority ownership of the Company.*
• Cineworld Group plc — Representation of Cineworld Group plc and 104 of its debtor affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Cineworld commenced its Chapter 11 cases with approximately $5.1 billion in funded debt and commitments from an ad hoc group of prepetition lenders to provide nearly $2 billion in debtor-in-possession financing.*
• Aearo Technologies LLC — Representation of Aearo Technologies LLC and its debtor affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Indiana.  Aearo Technologies is a defendant in the largest multi-district litigation in history, with over 230,000 personal injury claims filed related to certain historical Aearo products.

* Prior to joining Freshfields