Insights

Choate Represents PNC Bank as Administrative Agent for DIP Financing to Big Lots

Choate represented PNC Bank, National Association, as administrative agent in connection with a syndicated Senior Secured Superpriority Debtor-In-Possession Asset-Based Revolving Credit Facility (the “ABL DIP Facility”) of up to $550M to Big Lots, Inc. and certain of its subsidiaries.

Jennifer Fenn Moderating Panel on Creative Deal Structuring

Jennifer Fenn will moderate the panel, “Maximizing Opportunity in a Challenging Market: Creative Deal Structuring,” at the Secured Finance Network (SFNet) New England Breakfast Session on September 5, 2024 from 8:30 to 10:30 a.m.

Choate Ranks Highly in 2024 Legal 500

The 2024 edition of The Legal 500 recognized 40 Choate attorneys in their respective fields and 10 practice areas.

Finance and Restructuring Team Receives Two M&A Advisor Turnaround Awards

Choate’s Finance & Restructuring team has been recognized in The M&A Advisor’s 18th Annual Turnaround Awards for the “Consumer Discretionary Deal of the Year (Under $100MM)” and the “Restructuring of the Year ($500MM to $1B).”

Choate Ranks Highly in 2023 Legal 500

The 2023 edition of The Legal 500 recognized 29 Choate attorneys in their respective fields and 12 practice areas, with education and middle-market M&A receiving Tier 1 rankings.

Jennifer Fenn named co-chair of Finance & Restructuring

Jennifer Fenn joins Sean Monahan and John Ventola in leading Choate’s Finance & Restructuring practice, overseeing the group’s growth strategy, client experience, and talent development initiatives.

Bankruptcy Court Decision is a Reminder that Lender Liability Still Exists

Successful claims for “lender liability” have been vanishingly rare in recent years. At the very end of 2021, however, the Bankruptcy Court for the Northern District of Texas, in a case named Bailey Tool & Mfg. Co., et al. v. Republic Bus. Credit (In re Bailey Tool & Mfg. Co.), Adv. No. 16-03025-SGJ (Bankr. N.D. Tex. December 23, 2021), found a lender liable for damages in excess of $17 million after multiple years of litigation and a lengthy trial.

Pathlight Capital Agents $50MM Senior Secured Term Facility for My Alarm Center, LLC

Choate represented Pathlight Capital as agent in its $50MM senior secured term loan facility (“the Term Loan”) to My Alarm Center, LLC, and certain of its affiliates.

Pathlight Capital Provides $150M Term Loan to HBC

Choate represented Pathlight Capital in its $150M term loan credit facility to HBC, a holding company of portfolio businesses operating at the intersection of retail and real estate.