George Klidonas

George's experience includes representing:

Company/Debtor

• 2U, Inc., a global leader in online education, and its US affiliates in their prepackaged chapter 11 cases in the US Bankruptcy Court for the Southern District of New York, restructuring its US$944 million capital structure through a deleveraging transaction, and securing approximately US$110 million through a DIP financing and equity rights offering
• MediaMath Holdings, a digital marketing company that offers tools for ad-buying and data management, and its subsidiaries in their chapter 11 cases in the US Bankruptcy Court for District of Delaware in connection with the Section 363 sale process
• Robertshaw US Holding Corp., a global designer and manufacturer of component parts for appliances, and its US subsidiaries in their chapter 11 cases in the US Bankruptcy Court for the District of Texas in connection with its liability management transaction litigation, Section 363 sale, and chapter 11 plan
• FXI Holdings, a leading bedding and comfort technologies provider, in its exchange offer of its outstanding 7.875% senior secured notes due 2024 for a combination of newly issued 12.250% senior secured notes due 2026 and cash, which also included a consent solicitation to amend the 2024 notes to eliminate substantially all of the restrictive covenants, certain of the default provisions, and to release all of the collateral securing the 2024 notes; the noteholders agreed to exchange US$500.2 million of the 2024 notes, representing 99.10% of the 2024 notes
• Virgin Orbit Holdings, a US-based responsive space launch provider, and its US subsidiaries in their chapter 11 cases in the US Bankruptcy Court for the District of Delaware in connection with its Section 363 sale and chapter 11 plan
• Lumileds Holding B.V., a Dutch-based global leader in innovative lighting solutions, and its Dutch and US affiliates in their prepackaged chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$1.7 billion of their funded debt
• Superior Energy Services, an oilfield services company, and its domestic affiliates in their chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas and restructuring more than US$1.3 billion of their funded debt
• Mallinckrodt, a major specialty pharmaceutical company, and its affiliates in their chapter 11 cases in the US Bankruptcy Court for the District of Delaware and restructuring more than US$5.3 billion of their funded debt, as well as opioid-related liabilities
• Lonestar Resources US, an oil and natural gas company, and its affiliates in their prepackaged chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas and restructuring more than US$535 million of their funded debt
• APC Automotive Technologies Intermediate Holdings, an automotive aftermarket company, and its affiliates in their prepackaged chapter 11 cases in the US Bankruptcy Court for the District of Delaware and restructuring more than US$430 million of their funded debt*
• One Call, a leading national provider of managed care solutions in the workers’ compensation industry and other healthcare markets, in its successful out-of-court US$1 billion equitization of junior debt, reduced its annual interest expense by approximately US$90 million, and eliminated near-term maturities; the transaction was facilitated by a US$375 million investment led by existing lenders KKR and GSO Capital Partners
• Sungard AS Capital, a provider of IT production and recovery services, and its affiliates in their “24-hour prepackaged” chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$1.26 billion of their funded debt in the fastest chapter 11 case in history*
• Windstream Holdings, a telecommunications services provider to residential and business customers in rural communities, and its affiliates in their chapter 11 restructuring in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$5.6 billion of their funded debt*
• FullBeauty Brands Holdings, a direct-to-consumer online and catalogue retail company, and its domestic affiliates in their “24-hour prepackaged” chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$1.2 billion of their funded debt*
• Cenveo, a world leader in commercial printing, envelopes, labels, warehousing and fulfillment, direct mail, and related services, and its domestic subsidiaries in their prearranged chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$1 billion of their funded debt*
• rue21, a brick-and-mortar retailer of women’s and men’s casual apparel, and certain of its affiliates in their prearranged chapter 11 restructuring in the US Bankruptcy Court for the Western District of Pennsylvania and restructuring more than US$800 million of their funded debt*
• Avaya, multinational technology company that provides cloud communications and workstream collaboration services, and certain of its affiliates in their chapter 11 cases in the US Bankruptcy Court for the Southern District of New York and restructuring more than US$6 billion of their funded debt; Turnaround Management Association recognized the successful restructuring of Avaya with its Mega Company Transaction of the Year Award*
• Sabine Oil & Gas, an oil and natural gas company, and its subsidiaries in their chapter 11 cases in the US Bankruptcy Court for the Southern District of New York; Turnaround Management Association recognized the successful restructuring of Sabine Oil & Gas Corporation with its Large Company Transaction of the Year Award*
• Samson Resources, an oil and natural gas company, in its chapter 11 cases in the US Bankruptcy Court for the District Delaware and restructuring more than US$4 billion of its funded debt*
• Irving H. Picard, trustee for the SIPA liquidation of Bernard L. Madoff Investment Securities LLC, in the US Bankruptcy Court for the Southern District of New York in connection with a US$64 billion Ponzi scheme and one of the largest financial frauds in US history*

Sponsors and Investors

• A strategic investor group that committed up to US$25 million and acquired 50% of the outstanding principal amount of the convertible notes for US$32 million under a restructuring support agreement in connection with 5E Advanced Materials, a boron and lithium company, with US government Critical Infrastructure designation for its 5E Boron Americas Complex
• The private equity sponsors in an out-of-court restructuring through a consensual foreclosure of Dunn Paper Holdings
• Korean-based financial institutions in Seadrill Limited’s multijurisdictional chapter 11 restructuring of US$6.1 billion of funded debt
• Searchlight Capital Partners in the US$150 million recapitalization and refinancing of MediaMath and its affiliated entities
• The Carlyle Group in the refinancing and recapitalization of Array Canada and its affiliated entities
• Property Solutions Acquisition Corp. SPAC in its merger with Faraday Future to create a combined company with a value exceeding US$3.3 billion
• The senior creditors committee in the rescue financing and subsequent €2.4 billion debt and equity restructuring of Swissport, a global aviation services business headquartered in Switzerland
• The private equity sponsors and Sable Permian Resources in the successful completion of American Energy Permian Basin’s US$2.1 billion out-of-court recapitalization*
• The private equity / creditor investment fund in connection with a term loan facility and debtor-in-possession financing facility in the chapter 11 cases of Furie Operating Alaska, Cornucopia Oil & Gas Company, and Corsair Oil & Gas*
• A private equity investment firm in providing US$386 million of debtor-in-possession financing to Performance Sports Group and purchasing substantially all of its assets in a 363 sale for US$575 million, which included the following brands: Bauer Hockey, Mission Roller Hockey, Maverik Lacrosse, Cascade Helmets, Combat, and Easton*

*Matter handled prior to joining Latham

Thought Leadership

• Co-author, “Chambers Insolvency Global Practice Guide,” December 2023
• “Running on Empty: Automotive Suppliers Facing an Array of Challenges,” Wharton Restructuring and Distressed Investing Conference (Speaker, February 2022)
• “The Continued Impact of COVID-19 on the Distressed Real Estate Market,” American Bankruptcy Institute, Spring Meeting (April 21, 2021)
• “How Investors Can Capitalize on Renewed Interest in Reddit-Driven Stocks,” CNBC Squawk Box (March 1, 2021)
• “TMA Connect Live: Disruption - Is the Game Stop Game Just Getting Started?” Turnaround Management Association, Distressed Investment Conference (Speaker, February 2021)
• “Around the Creditor Battlefield,” Turnaround Management Association, Distressed Investment Conference (Moderator, February 2021)
• “Tips from the Titans,” Turnaround Management Association’s NextGen Leadership Experience (Speaker, October 2020)
• “Distressed Hedge Funds,” Wharton Restructuring and Distressed Investing Conference (Speaker and Moderator, February 2020)
• “Disruption: An Economic Driver for Restructurings,” Wharton Restructuring and Distressed Investing Conference (Speaker, February 2020)
• “Lien Stripping in Chapter 11 Bankruptcy Cases: Lessons for Secured Creditors, ” Stafford (Speaker, January 2016)
• “Almost Everything You Wanted to Know About Tax Issues in Bankruptcy, ” National Conference of Bankruptcy Judges (Speaker, September 2015)
• International Mergers & Acquisitions, Fordham University School of Law (Visiting Professor, Fall 2012)