Andrew M. Parlen

Partner

New York
andrew.parlen@lw.com
+1.212.906.1296

BAR QUALIFICATIONS

  • California
  • District of Columbia
  • New York

EDUCATION

  • JD, Harvard Law School, 2003
    cum laude
  • BA, University of California, Berkeley, 1999

PROFILE

Andrew Parlen, head of the firm’s US Restructuring & Special Situations Practice, represents clients in a broad range of complex distressed situations. 

Andrew draws on extensive experience representing public and private companies, ad hoc creditor groups, and investors in navigating:

  • Out-of-court restructurings
  • Prepackaged and prearranged chapter 11 reorganizations
  • Debtor-in-possession financings
  • Acquisitions of distressed companies

He has played pivotal roles in high-profile restructurings in diverse industries, including media, retail, industrials, pharmaceuticals, power, exploration and production services, financial services, healthcare, and homebuilding.

EXPERIENCE

Andrew’s broad experience includes representing:

Company-Side Restructurings

  • Enviva Inc., the leading producer of industrial wood pellets as a source of renewable energy, in its chapter 11 reorganization*
  • Diamond Sports Group, the nation’s largest owner of regional sports networks, in its chapter 11 cases filed in the Bankruptcy Court for the Southern District of Texas, in connection with which Diamond entered into a restructuring support agreement with the company’s creditors that would eliminate over US$8 billion of its outstanding debt*
  • Madison Square Boys & Girls Club, a not-for-profit organization, in its chapter 11 case filed in the Southern District of New York to address claims arising under the New York Child Victims Act*
  • Revlon, a leading global beauty company, in its subsidiary’s successful out-of-court exchange offer*
  • Hexion, a leading global chemical company, in its prearranged chapter 11 case*
  • Government Development Bank of Puerto Rico in its restructuring under Title VI of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA)*
  • Verso/NewPage, the leading North American producer of printing and specialty papers, in its prearranged chapter 11 case*
  • Cal Dive, an E&P marine contractor, in its chapter 11 case*
  • New Century Financial, one of the largest subprime mortgage lenders, in its landmark chapter 11 case*

Creditor-Side Experience

  • An ad hoc group of first lien term loan lenders of Belk, Inc., a department store with 300 locations across the Southeastern United States, in an out-of-court deleveraging transaction*
  • The Lower Colorado River Authority (LCRA) in the chapter 11 case of Brazos Electric Power Cooperative, Texas’s largest generation and transmission cooperative, commenced in the wake of Winter Storm Uri, which caused charges exceeding US$55 billion in the Texas wholesale energy market*
  • An ad hoc group of first lien, second lien, and unsecured lenders in the chapter 11 restructuring of Endo Pharmaceuticals, a specialty pharmaceutical company; the group comprised about US$3.2 billion, nearly 40% of the company’s funded debt*
  • An ad hoc group of creditors for an out-of-court restructuring of IPC Systems, a leading provider and servicer of voice communication systems for financial companies, which included the refinancing or restructuring of more than US$1 billion of funded debt obligations and a US$125 million equity financing*
  • An ad hoc group of term loan lenders in the prearranged chapter 11 case of Covia Holdings, a leading provider of diversified mineral-based and material solutions for the global energy and industrial markets*
  • The ad hoc group of second lien noteholders and equity sponsors in the prepackaged chapter 11 restructuring of Mood Media, a global provider of in-store audio, visual, and other forms of media and marketing solutions*
  • The ad hoc group of Mansfield certificate holders in the restructuring of FirstEnergy Solutions, a fossil and nuclear power generation company*
  • A leveraged lease owner participant in GenOn subsidiary NRG REMA's restructuring*
  • An ad hoc group of lenders in the restructuring of Remington Outdoor, a leading firearms manufacturer, in its prepackaged chapter 11*
  • An ad hoc group of noteholders in the restructuring of Homer City, a coal-fired power plant, in a prepackaged chapter 11*
  • The ad hoc group of certificate holders in equitizing their debt through an out-of-court restructuring of Coso Geothermal, a geothermal power facility*
  • The first lien lenders in the chapter 11 case of Movie Gallery, a leading movie and game rental company*
  • A leading movie studio in obtaining dismissal with prejudice of a fraudulent transfer suit brought by Think Film, an independent film production studio*

Purchaser/Acquirer Experience

  • The purchaser of SVB Capital, the investment platform business of SVB Financial Group, in a Section 363 sale*
  • Brookfield Asset Management and Simon Property Group, the sponsors of Copper Retail JV LLC, a newly formed joint venture, in connection with the purchase of the operating assets of J.C. Penney under Section 363 of the Bankruptcy Code*
  • The investors in film entertainment company MGM Studios, via a prepackaged chapter 11 plan*
  • The stalking horse in its winning bid for the assets of deCode Genetics, a leading human genetics biotech company*
  • The purchaser of the assets of home products manufacturer Jancor Companies*
  • The purchaser of the assets of clean-burning diesel fuel producer O2 Diesel in a prearranged bankruptcy*

*Matter handled prior to joining Latham