主办律师

Charlie Saad

企业重组和破产

csaad@sidley.com

纽约 +1 212 839 8642

- Letter
- A4

CHARLIE SAAD focuses his practice on all aspects of corporate restructurings, including contingency planning, operational diligence, board and lender presentations, and out-of-court restructurings. His experience includes top-tier large and complex Chapter 11 debtor cases for both company and creditor-side representations.

Prior to joining Sidley, Charlie was a restructuring associate at another global law firm.

While attending Duke University School of Law, Charlie was lead editor of the Duke Journal of Comparative & International Law.

经验

Represented Town Sports International, LLC, a subsidiary of Town Sports International Holdings, Inc., and certain of its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. Town Sports is a leading owner and operator of fitness clubs primarily in the Northeast and Mid-Atlantic regions of the United States, with brands that include New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs, and Philadelphia Sports Clubs. As of December 31, 2019, Town Sports operated 186 fitness clubs and served approximately 605,000 members.
Represented Central Security Group, Inc., one of the nation’s largest providers of home and business security and automation, in an out-of-court debt-for-equity exchange that significantly improved the Company’s overall capital structure, eliminating approximately US$250 million (more than 50%) of the Company’s funded debt and including a new $25 million revolving credit facility commitment. The out-of-court transaction was executed after the Company successfully solicited support from 100% of its first lien and second lien lenders.
Represented Frontier Communications Corporation and its 103 debtor subsidiaries in their prearranged Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of New York. With over US$17.5 billion in outstanding funded debt, Frontier’s Chapter 11 cases were among the largest filed in 2020. Frontier, together with its subsidiaries, have over four million customers and 18,000 employees across 29 states. The company’s prearranged plan, which was confirmed in approximately four months, effected a balance sheet restructuring that reduced the company’s outstanding funded debt by over US$10 billion, carried broad stakeholder support, and unimpaired all general unsecured creditors.
Represented McDermott International, Inc. and 225 of its subsidiaries and affiliates, including 107 foreign domiciled entities, in their prepackaged Chapter 11 cases in the U.S. Bankruptcy Court of the Southern District of Texas. McDermott is a premier, global upstream and downstream engineering, procurement, construction, and installation company, and employs over 42,000 individuals across 54 countries and six continents. McDermott’s prepackaged Chapter 11 cases were confirmed in less than 60 days and contemplated a transaction that re-equitized the company, deleveraged over US$4 billion of funded debt, preserved an unprecedented $2.4 billion in prepetition letters of credit, left trade claims unimpaired, and included a sale of McDermott’s Lummus technology business for US$2.725 billion. McDermott emerged from Chapter 11 only five months after the petition date.
Represented one of the largest producers of natural gas in the United States and its wholly-owned subsidiaries in their prearranged Chapter 11 restructuring.

Charlie Saad

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