Oscar N. Pinkas

Experience: Investor / Purchaser: Automotive.: Represented purchaser in take-private transaction to acquire a platform business that closed simultaneously with the acquisition of an add-on, recapitalization, new financing and introduction of a new management team. The acquisition averted a liquidation of the business. Completed an out of court turnaround, multiple add-on acquisitions and a refinancing since that time.; Financial Services.: Represented acquiror of equity interest in commercial lender with over $65 billion of assets.; Hotel/Leisure.: Represented investor in acquisition of controlling interest in casino enterprise through a debt for equity swap that discharged over $3 billion of liabilities. The investor made a large profit in an exit.; Insurance.: Represented insurtech and fintech business in multiple acquisitions of licenses, a book of business to winddown and a claims group from an insurance company in receivership. The acquisitions accelerated the client's business plan by 3 years.; Mining.: Represented purchaser in acquisition of company with assets with a book value of $750 million. The acquisition was completed in 5 months, without payment of any purchase price, and involved issuance of three tranches of debt and 12 interlocking settlements, together involving over 75 signatories.; Mining.: Represented investor in acquisition of equity interests in mining project as part of a restructuring that discharged over $4 billion of liabilities. The acquisition was the result of several months of consensus building amongst a fractured group of stakeholders, and averted a liquidation.; Mining.: Represented purchaser in acquisition and restart of three mining complexes. The complexes had previously been acquired for over $3 billion, and were restarted within 1, 3 and 8 months of acquisition, respectively. Total time from negotiation to first restart was 75 days. The investors made a large profit in an exit.; O&G.: Represented purchaser in acquisition of producing assets in the Permian Basin.; O&G.: Represented acquiror of barge fleet through an out of court restructuring. A consensual deal was obtained after acquiring defaulted debt of the seller to oust the board and force a consensual equity foreclosure.; O&G.: Represented purchaser in $150 million cross-border acquisition of cementing and fracturing operations.; O&G.: Represented purchaser in $100 million cross-border acquisition of fracturing operations.; Pharmaceutical.: Represented bondholders in take-private transaction through a debt for equity swap under a prepackaged plan in bankruptcy. The 'full pay' plan was unique in that it approved one-off settlements with each of 14,000 shareholders through lack of objection as well as a settlement with directors and officers that waived potential indemnity claims.; Rail.: Assisted client in taking control of rail car parts manufacturer through preferred equity investment, which included an amendment and restatement of 1L debt and a restructuring of 2L debt.; Real Estate.: Represented acquiror of stalled $2 billion hotel construction project. The acquisition was achieved by putting $375 million of contractors' liens on the project in dispute to enable a free and clear sale. The investor made a large profit in an exit.; TMT.: Represented purchaser in acquisition of two television broadcasting networks out of bankruptcy. Total time from first involvement to closing was four weeks.; Lender / Noteholder: Aviation.: Represented lender in workout of loan to aircraft leasing business.; Aviation.: Represented lender in $100 million loan to aircraft leasing business. Lender was repaid in full through use of amendments to effectuate sales of collateral.; Aviation.: Represented hedge fund as syndicate lender in out of court workout and foreclosure.; Financial Services.: Represented hedge fund in seven separate lending transactions to financial services companies, as well as disputes to recovery capital from In one such dispute, strategies to extend meritless litigation allowed the client to capitalize upon running default interest in order to cause enhanced repayment of two loans.; Healthcare.: Represented direct lender in restructuring of private equity portfolio company balance sheet involving partial paydown and partial conversion to preferred and common equity.; Hotel/Leisure.: Represented syndicate of holders in recovery on $340 million of notes issued by troubled casino-hotel Holders were prepaid par plus accrued in satisfaction of their notes.; Hotel/Leisure.: Represented lender in $150 million exit financing facility to consummate; Infrastructure.: Representing syndicate of midco noteholders in workout and recovery from water authority issuer.; Infrastructure.: Represented direct lender in taking ownership of borrower in order to commission, moor and commercialize a specialty fuel distribution barge.; Infrastructure.: Represented noteholder in workout and recovery on notes issued by Central American airport operator.; Manufacturing.: Assisted lender in taking ownership of manufacturing company in walk-away deal with shareholders after multiple defaults on credit agreement and drop-in of independent director.; Manufacturing.: Represented private equity fund in $75 million loan to manufacturing business.; O&G.: Represented lending syndicate that received paydown of first-lien debt in restructuring and recapitalization of frac sand production company.; Pharmaceutical.: Represented lender in prepackaged plan of reorganization in bankruptcy whereby it took ownership of the enterprise and provided a $90 million exit financing facility to consummate restructuring.; Power.: Representing noteholders owed $400 million in restructuring and bankruptcy of electrical generation and transmission cooperative.; Real Estate.: Represented DIP lender in financing to fund bankruptcy proceeding of real estate development, which enabled a sale of the development for over $150 million.; Retail.: Representing syndicate of over 20 lenders as prepetition and DIP lenders in recovery on over $3 billion of outstanding loans in bankruptcy court restructuring of nationwide retailer.; Retail.: Represented lending syndicate in bridge financing to keep company out of bankruptcy and effectuate its restructuring to exit a brick and mortar business and focus on an online platform.; TMT.: Represented syndicate of lenders in recovery on loans through sales of the borrowers' business lines. Averting liquidation required a superpriority, cross-border, emergency rescue loan, which was negotiated with two other sets of lenders and closed in 4 business days. Client recoveries exceeded expectations due to maneuvering and reallocation of sale proceeds through rescue loan negotiations.; TMT.: Represented second lien club lender in out of court restructuring. Lender's recovery was greatly enhanced as a result of strategies around conversion of debt and offering enhanced recovery to first lien lenders.; Companies / Debtors / Sponsors: Aviation.: Represented board of directors in out of court restructuring of aircraft services business. Successfully averted liquidation of the business on several occassions.; Automotive.: Representing private equity sponsor in out of court restructuring of portfolio company in auto parts manufacturing.; Automotive.: Representing private equity sponsor in out of court restructuring of portfolio company in auto parts manufacturing.; Automotive.: Represented portfolio company in a two-year out of court turnaround post-acquisition.; Automotive.: Represented company in sale of troubled foreign subsidiary of corporate enterprise back to original owner as resolution of potential litigation against former owner concerning misrepresentations made during acquisition.; Automotive.: Represented private equity sponsor in walkaway deal with lenders for the out of court winddown of portfolio company in auto parts manufacturing.; Equipment.: Representing private equity firm in restructuring of equipment sales, rental and service company.; Financial Services.: Represented German administrator regarding over $8 billion of claims against U.S. affiliates.; Foreign Representatives.: Represented administrators, monitors and receivers as foreign representatives in over 20 Chapter 15 cases, involving COMI in over a dozen countries in; Fund Portfolios.: Assisted two private equity funds in navigating COVID-related business shutdowns and restarts across their portfolio companies.; Insurance.: Represented reinsurer in extended negotiation of forbearance. As a result of extended negotiations, company was able to negotiate a reduced loan payment and sell assets to payoff the lender.; Manufacturing.: Represented sponsor in maintaining ownership of portfolio company despite that secured debt exceeded enterprise value 2:1. In so doing, 2L debt was equitized and 1L debt was refinanced.; Mining.: Represented foreign mining company in Chapter 11 preparation as contingency plan in the event there was no out of court solution with lenders. Succeeded in establishing the necessary nexus for U.S. jurisdiction and convincing the independent board of the virtues of Chapter 11 versus a foreign insolvency administration. Filing was averted by successful negotiation of an out of court sale process of sufficient duration to maximize value after the expected effects of COVID-19 subsided.; O&G.: Represented Canadian receiver of drilling services and equipment rental company in asset; O&G.: Represented UK administrator of oil and gas producer regarding substantial claims against US; Retail.: Represented sponsor in maintaining ownership of portfolio company despite that secured debt exceeded enterprise value 2.5:1. A walkaway deal with lenders was negotiated for a 35% payout, which was consummated as a purchase of the enterprise involving old and new investors.; Retail.: Representing textiles and home furnishings businesses in bankruptcy that restructured through a 363 sale transaction after averting liquidation several times prepetition. Notwithstanding little leverage and no competitive bids, the sale ensured an outsized recovery for unsecured creditors.; TMT.: Represented radio broadcast companies in their successful restructuring of over $1 billion of claims. Highest value was obtained by terminating exclusivity and submission of competing plans of reorganization whose confirmation was tried concurrently.; TMT.: Represented debtor in restructuring involving sale of substantially all assets that resulted in full payment to creditors and a significant recovery to equityholders.; Litigation: Financial Institutions.: Represented non-profit educational institution as defendant in litigation concerning the propriety of termination of interest rate swaps. Settled without admission of liability for nuisance value.; Hotel/Leisure.: Represented restructured companies in litigation over ownership of trademarks they were operating under. Settled without admission of liability and retained ownership of trademarks.; Power.: Litigated and obtained $150 million recovery on noteholder claims that debtor asserted were not payable.; IT Services.: Litigated to obtain release of earnout worth $50 million by leveraging claims of fraud relating to tax indemnity under a stock purchase agreement.; Textiles.: Represented acquiror and prevailed in three litigations by second-lien lenders seeking majority of equity in the enterprise as part of a restructuring.; TMT.: Represented private equity fund portfolio company in litigation in bankruptcy and state court in relation to claims of fraud in its acquisition. Ensured ride through treatment under former affiliates' full-pay plan in bankruptcy and thereafter obtained a very favorable settlement on all claims with a value 25x what the defendant originally asserted claims were worth.; Committees: Automotive.: Represented creditors' committee in restructuring of $1 billion revenue auto parts manufacturer operating 24 facilities in 12 countries. The committee supported the needs of the company while ensuring maximized recovery to creditors during COVID-19 and OEM shutdowns by giving the debtors breathing room to advance receivables, bringing operators and investors to the table to enable a sale, and shortly thereafter forcing a settlement to leave assets behind for unsecured creditors through the threat of litigation and a sale objection. The debtors, the bankruptcy judge and purchaser applauded the committee's balanced efforts.; Automotive.: Represented equity committee in valuation fight that was resolved in the middle of confirmation trial whereby equityholders received a recovery of cash and warrants.; Manufacturing.: Represented creditors' committee in achieving outsized recovery through discovery as well as sale and confirmation objections.; Assist clients in guiding the outcome of restructurings as members of the creditors' committee, including the largest unsecured creditors in MediaMath, Cano Health and WOM Chile.; Indenture Trustees / Collateral Agents: Manufacturing.: Represented indenture trustee as global counsel in the US, Europe and multiple Asian countries in issuance of $665 million of notes upon consummation of prepackaged plan of reorganization.; Manufacturing.: Representing indenture trustee of over $750 million of issued notes in restructuring of manufacturing business involving insolvency proceedings in 4 countries.; Retail.: Representing indenture trustee of three securitization transactions totaling over $1.5 billion in the winddown of the related retailer and servicer.; Retail.: Representing DIP indenture trustee as foreign counsel across multiple European countries and Australia, including recovery on $455 million of notes in insolvency filings in several of those countries.; Retail.: Represented indenture trustee of bonds issued by jewelry store operator. Despite liquidation, bondholders were paid in full.; TMT.: Representing indenture trustee of two series of unsecured notes totaling over $650 millon in cross-border bankruptcy of issuer, including as a member of the creditors' committee.; Trust Services.: Represented corporate trust services provider in sale of a portion of its trust business.; The above representations were handled by Mr. Pinkas prior to his joining Greenberg Traurig, LLP.