A Sidley team represented Plenty Unlimited Texas LLC and certain affiliates (“Plenty”), an innovative agricultural technology company with a unique indoor vertical farming platform, in its Chapter 11 case in the U.S. Bankruptcy Court for the Southern District of Texas. The case was completed in approximately 60 days and resulted in a fully consensual plan that will position Plenty as a leader in the indoor farming industry. Through the case, Plenty secured a significant new capital raise and brokered a global settlement with its key operational constituents — including Plenty’s general contractor, subcontractors, direct contractors, and landlord — which avoided complex litigation relating to mechanic’s liens and related issues. Plenty’s plan also incorporated a settlement with the unsecured creditors’ committee appointed in the Chapter 11 cases, resulting in a significant recovery for unsecured creditors and the committee’s support of the debtors’ settlement and release of all estate claims and causes of action. Plenty received confirmation of its Chapter 11 restructuring plan on May 14, 2025, with the plan becoming effective on May 29, 2025.
The team consisted of Anthony Grossi, Duston McFaul, Ameneh Bordi, Weiru Fang, Maegan Quejada, Chelsea McManus, Julia Jean Citron, and law clerk Vivian Li (Restructuring); Daniel Elefant (Emerging Companies and Venture Capital); S. Scott Parel, Nick DeAngelis, Ellen Heighten, and Staci Alexander (M&A); William Howell and Jocelyne Kelly (Capital Markets); and Suresh Advani and Alice Qin (Tax).
