Alston Bird — Chapter 11 Bankruptcy Cases

1/30/17 Recap: This is a revenue and operating costs story. Not enough of the first. Too much of the latter. Utilization didn't make up for the cost and capital structure and now the debtor is in Chapter 11 with the hope of finding a buyer.
Jurisdiction: E.D. of Louisiana (transferred from D. of Delaware)
Capital Structure: $12mm RCF/$6.7mm funded (MidCap Financial LLC), $105mm Demand Note (Cardiovascular Care Group Inc.),
Company Professionals:
- Legal: Alston & Bird LLP (Grant Stein, David Wender, Sage Sigler), Jones Walker LLP (Elizabeth Futrell) & (local) Young Conaway Stargatt & Taylor LLP (Joel Waite, Kenneth Enos)
- Financial Advisor & CRO: Solic Capital Advisors LLC (Neil Luria)
- Claims Agent: Garden City Group (*click on company name above for free docket)
- Other Parties in Interest:
  - Official Committee of Unsecured Creditors
    - Legal: Heller Draper Patrick Horn & Dabney LLC (William Patrick, Tristan Manthey, Cherie Nobles)
    - Financial Advisor: CohnReznick LLP (Clifford Zucker)
  - MidCap Funding IV Trust
    - Legal: Locke Lord LLP (C. Davin Boldissar)

Updated 4/2/17

1/3/17 Recap: Australian-based company that assists with the engineering, procurement and construction of mining and oil and gas projects files for chapter 15 to ward off US-based litigation that threatens the administration of its '14 launched Australian liquidation. The company cites a legal retainer with Alston & Bird LLP held in a California-based Wells Fargo account as contacts to the US. The company originally launched liquidation proceedings after suffering from weakened commodity prices, reduced Chinese demand and reduced industry-wide capex in the face of weakened mining demand.
Jurisdiction: N.D. of California
Capital Structure: $249mm secured debt
Company Professionals:
- Legal: Alston & Bird LLP (Leib Lerner, Jeffrey Tsai) & Linklaters LLP (Aaron Javian, Adam Lurie)

Updated 1/4/17

New Chapter 11 Filing - LMCHH PCP LLC