Matthew M. Roose

• Representing an ad hoc group of bondholders of Exela Technologies, a global business process automation company, in connection with its chapter 11 cases, captioned In re DocuData Solutions, Inc. pending in the United States Bankruptcy Court for the Southern District of Texas. These proceedings involve the restructuring of $1.3 billion of funded debt and the ad hoc group is providing a new money DIP facility of up to $80 million.
• Represented Aimbridge Hospitality in connection with a comprehensive out-of-court restructuring supported by 100% of the company’s lenders that successfully converted more than $1 billion of senior and junior debt into equity and infused the company with $100 million in new capital. Aimbridge is the leading third-party hotel management company, managing over 1,000 hotels globally and employing approximately 47,000 individuals.
• Represented Hearthside Foods and its affiliated debtors in their prearranged chapter 11 cases involving approximately $3.0 billion of funded debt. A leading contract manufacturer and producer of convenience foods, including baked, refrigerated, and frozen foods, sweet and salty snacks and nutrition bars, Hearthside serves as a full-service provider of food packaging services for many of the world’s premier brands and is the largest private bakery in the industry with a production network of 27 facilities powered by a skilled and dedicated workforce of approximately 12,000 employees. Hearthside’s prearranged chapter 11 plan eliminated approximately $2 billion of funded debt and provided $200 million of new money through an Equity Rights Offering and approximately $190 million of additional capital from a new asset backed loan facility. Hearthside emerged from chapter 11 with approximately $600 million of liquidity and rebranded as Maker’s Pride.
• Represented an ad hoc group of first lien lenders of American Rock Salt, the largest operating salt mine in the United States, in connection with a $110 million super-priority first out term loan facility.
• Represented an ad hoc group of second lien lenders of Petmate, a supplier and manufacturer of pet products, in connection with its out-of-court restructuring of approximately $600 million of funded debt.
• Represented an ad hoc group of second lien term loan lenders to a specialty textile manufacturing company in connection with the company’s restructuring of over $850 million in funded indebtedness. As part of the restructuring, second lien term loan lenders received a significant primary equity stake, warrants and the opportunity to participate in funding the exit term loan.
• Represented an ad hoc group of second lien lenders of Yak Access, LLC, a provider of temporary roadways to remote construction sites, in connection with its out-of-court recapitalization and exchange transaction, which eliminated over $500 million of debt. As part of the recapitalization, holders of second lien term loans received a significant primary equity stake as well as various series of preferred stock in the recapitalized Yak.
• Representing an ad hoc group of senior secured noteholders and convertible noteholders of Quotient Limited, a publicly-listed European-based diagnostics company, with respect to, among other things, its pending chapter 11 case and recapitalization involving more than $250 million of secured and unsecured debt.
• Representing an ad hoc group of first lien lenders of K&N Engineering, Inc., a leading consumer-branded designer, manufacturer and marketer of high performance automotive and power sports aftermarket parts, in a $60 million new money financing in connection with its out of court restructuring of approximately $415 million of funded indebtedness.
• Represented an ad hoc group of bondholders of Exela Technologies, Inc. with respect to, among other things, an out of court exchange involving approximately $1.0 billion of first lien bond debt, and a subsequent exchange of $1.3 billion of first lien bond debt.
• Represented Aleris Corporation in the chapter 11 cases of Real Industry.*
• Represented an ad hoc group of noteholders of Forbes Energy Services.*
• Represented Goldman Sachs Asset Management as sponsor of Constellation Enterprises, a chapter 11 debtor.*
• Represented Fidelity Management & Research Co. in the chapter 11 cases of Energy Future Holdings, Inc.*
• Represented ad hoc group of noteholders of Forbes Energy Services in pre-packaged chapter 11 plan.*
• Represented Appaloosa, Centerbridge, Owl Creek, and Aurelius in the chapter 11 cases of Washington Mutual, Inc.*
• Represented Centerbridge, Paulson, and Blackstone in the purchase of Extended Stay, Inc., a chapter 11 debtor.*
• Represented Ascribe Capital and Phoenix Investments in the out-of-court restructuring of Alion Science and Technology Co.*
• Represented an ad hoc group of noteholders in connection with Georgia Gulf Corp.’s debt for equity exchange.*
• Represented an ad hoc group of first lien debt holders in the chapter 11 cases of Merisant Co.*
• Represented the independent directors in connection with the chapter 11 cases of Innkeepers USA Trust.*
• Represented the Equity Committee in connection with the chapter 11 cases of Calpine Corp.*
• Represented the New York Liquidation Bureau and the NYS Department of Financial Services in connection with the $2.1 billion mortgage backed securities settlement between MBIA and Bank of America.*
• Represented the NYS Department of Financial Services in connection with the restructuring of monoline insurers (Syncora, FGIC, MBIA, and CIFG).*

*Completed prior to joining Ropes & Gray.