Solus Alternative Asset Management LP v. GSO Capital Partners L.P. et al


Simpson Thacher successfully defeated Solus Alternative Asset Management LP’s efforts to enjoin a refinancing transaction between the Firm’s client Hovnanian Enterprises, Inc., and GSO Capital Partners, LP.

Solus, represented by Quinn Emanuel Urquhart & Sullivan, filed its complaint on January 11, alleging fraud, disclosure and tortious interference claims under both federal and state law. After a one day evidentiary hearing with four fact and two expert witnesses, Judge Laura Taylor Swain of the Southern District of New York denied plaintiff’s motion in its entirety, ruling that Solus did not demonstrate it would suffer irreparable harm as a result of the refinancing transaction.

The Simpson Thacher team included Lynn Neuner (Picture), Marisa Stavenas, Craig Waldman, Michael Osnato, Jean Park, Sarah Phillips, John Robinson, Jonathan Menitove, Shannon McGovern, Jonathan Kaplan and Sara Estela.

Involved fees earner: Lynn Neuner – Simpson Thacher & Bartlett; Marisa Stavenas – Simpson Thacher & Bartlett; Craig Waldman – Simpson Thacher & Bartlett; Michael Osnato Jr. – Simpson Thacher & Bartlett; Jean Park – Simpson Thacher & Bartlett; Sarah Phillips – Simpson Thacher & Bartlett; John Robinson – Simpson Thacher & Bartlett; Jonathan Menitove – Simpson Thacher & Bartlett; Shannon McGovern – Simpson Thacher & Bartlett; Jonathan Kaplan – Simpson Thacher & Bartlett; Sara Estela – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Hovnanian Enterprises, Inc.;

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Author: Ambrogio Visconti