The M&A Advisor has recognized three of Sidley’s high-profile restructuring deals at its 18th annual Turnaround Awards.
Sidley’s work on the restructuring of pharmaceutical company Tricida, Inc. has been awarded “Healthcare/Life Sciences Deal of the Year (Over $100MM).” Tricida filed for Chapter 11 protection in January 2023 listing US$100–US$500 million in liabilities, including approximately US$200 million in principal funded debt under its convertible notes. The team was led by Restructuring partners Sam Newman and Charles Persons, with Corporate partners Geoff Levin and Chaim Theil, and Litigation partners Sara Brody and Sarah Hemmendinger.
Sidley’s work on the restructuring of Auto Plus and Pep Boys has been awarded “Restructuring of the Year (US$250MM to US$500MM).” Sidley represented American Entertainment Properties Corp. (AEP), an Icahn Enterprises, L.P. subsidiary, in the Chapter 11 cases of AEP’s affiliate, Auto Plus, which included a debtor-in-possession (DIP) financing with a significant rollup and a mediated settlement with broad releases. The team was led by Restructuring partners Steve Hessler and Anthony Grossi, with Global Finance partners Mark Adler and Nicholas Schwartz.
Sidley’s work on the restructuring of Star Entertainment has been awarded “Refinancing of the Year (Over $10B).” The team was led by Capital Markets partner Bruce Dailey.
The annual Turnaround Awards recognize the transactions, firms, and individuals that represent the highest levels of performance in the distressed investing and reorganization industry and were presented as part of the 2024 Distressed Investing Summit and Awards Gala in Palm Beach, Florida, on March 19, 2024.