Insights

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)."

First Eagle Alternative Credit Leads $88M Term Loan Facility to Dorel

Choate represented First Eagle Alternative Credit as administrative agent to a group of lenders in an $88M senior secured term loan credit facility to Dorel Industries Inc., a global manufacturer of juvenile products and home furnishings.

Choate Represents Citizens Bank in Yellow Corp.’s Bankruptcy

Choate represents Citizens Bank in connection with the bankruptcy proceeding of U.S. trucking firm Yellow Corp., which filed for Chapter 11 bankruptcy protection in federal bankruptcy court in Delaware on Sunday August 6, 2023.

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.

Choate Elects Six to Partnership for 2022

Today Choate announced its largest class of new equity partners in the Firm’s history for the second year in a row.

Citizens Bank Makes $150 Million Loan to Steve Madden

Choate represented Citizens Bank, N.A., as Agent, in connection with a $150,000,000 senior secured loan to Steven Madden and various of its subsidiaries.

Choate Wins Bankruptcy Appeal for Wells Fargo Against hhgregg

Choate recently secured an appellate victory in its defense of claims brought against Wells Fargo arising out of the bankruptcy of hhgregg, a now defunct Midwestern big box retailer.

GACP Finance Co., LLC Provides Term Loan to Vista Outdoor Inc.

Choate represented GACP Finance Co., LLC in connection with a $40,000,000 second lien term loan to Vista Outdoor Inc., a global, publically traded company that specializes in the design, manufacturing and marketing of consumer products in the outdoor sports and recreations market.

Crystal Financial Anchors DIP Tranche A-1 Loan in Bon-Ton Bankruptcy

Choate represented Crystal Financial as Tranche A-1 Documentation Agent and an A-1 lender to Bon-Ton Stores, Inc. and its affiliated subsidiaries in its Chapter 11 bankruptcy.