Westmoreland Coal’s Chapter 11

Kirkland & Ellis LLP is acting as legal counsel to Westmoreland; Centerview Partners LLC is acting as investment banker and financial advisor; Alvarez & Marsal is acting as restructuring adviser; and McKinsey Recovery & Transformation Services U.S., LLC is acting as an operational advisor. Jones Day is acting as legal counsel and Lazard Freres is acting as investment banker to the Conflicts Committee of the board of directors of Westmoreland Resource Partners, GP, general partner of WMLP. Schulte is advising an ad hoc group of secured lenders to Westmoreland Resource Partners LP (WMLP), a subsidiary of Westmoreland Coal Company.

In October 2018, WMLP, Westmoreland and certain of their affiliates filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. WMLP’s coal operations include mines in Wyoming and Ohio. WMLP is seeking to restructure more than $320 million in secured debt, environmental and labor liabilities.

The Schulte team representing the WMLP Ad Hoc Lender Group is led by business reorganization partners David Hillman (Picture) and Kristine Manoukian and associates Lucy Kweskin and Kelly Knight. The team also includes employment & employee benefits partner Ronald Richman and special counsel Scott Gold; M&A and securities partner Richard Presutti and associate Andrew Fadale; tax partner Dan Kusnetz; environmental special counsel Theodore Keyes and associate Valerie Sheaffer; and finance partner Marc Friess.

 

Involved fees earner: David Hillman – Schulte Roth & Zabel; Kristine Manoukian – Schulte Roth & Zabel; Lucy Kweskin – Schulte Roth & Zabel; Kelly Knight – Schulte Roth & Zabel; Ronald Richman – Schulte Roth & Zabel; Scott Gold – Schulte Roth & Zabel; Richard Presutti – Schulte Roth & Zabel; Andrew Fadale – Schulte Roth & Zabel; Dan Kusnetz – Schulte Roth & Zabel; Theodore Keyes – Schulte Roth & Zabel; Valerie Sheaffer – Schulte Roth & Zabel; Marc Friess – Schulte Roth & Zabel;

Law Firms: Schulte Roth & Zabel;

Clients: Westmoreland Resource Partners LP – hoc group of secured lenders ;

Author: Ambrogio Visconti