Stephen Moeller-Sally

Creditor and Committee Experience

Steve regularly represents creditors and creditor groups in both out-of-court restructurings and in-court reorganizations. His recent and most notable creditor and committee representations include:

• Represented Elliott Management as a DIP lender in the chapter 11 cases of Avianca Holdings, S.A. and its affiliates.
• Represented the ad hoc group of lenders of TeraWulf Inc., a leading BTC mining company that maximizes the energy-to-crypto value chain through power supply optimization, in the negotiation and documentation of an add-on and other amendments to TeraWulf's $123.5 million Term Loan facility.
• Represented Elliott Management as the largest creditor in the chapter 11 cases of Windstream Holdings, Inc. and its affiliates.
• Represented Reebok Ltd. and adidas AG in the chapter 11 cases of The Rockport Company, LLC.
• Represented an ad hoc group of secured noteholders of Global A&T Electronics, a Singapore-based semiconductor business, in the negotiation and execution of a pre-packaged plan of reorganization.
• Represented an ad hoc group of unsecured noteholders in the negotiation and filing of a pre-arranged chapter 11 case to restructure approximately $2.5 billion of unsecured notes issued by GenOn Energy, Inc. and GenOn Americas Generation LLC, both merchant power subsidiaries of NRG Energy, Inc.
• Represented an ad hoc group of first lien term lenders to NewPage Corporation in the pre-negotiated chapter 11 cases of NewPage and its corporate parent, Verso Corporation.
• Represented the indenture trustee for the 1.5 Lien Notes in the chapter 11 cases of Momentive Performance Materials, Inc. and its affiliates.
• Represented an ad hoc group of senior unsecured noteholders in the chapter 11 cases of Edison Mission Energy, which culminated in a $2.65 billion sale of the debtors' assets to NRG Energy and a global settlement of tax-related and other claims against the debtors' parent, Edison International.
• Represented an ad hoc committee of Second Priority Senior Secured Noteholders in the restructuring of Satelites Mexicanos S.A. de C.V. through a prepackaged chapter 11 plan, which was honored as "Deal of the Year 2011" by Latin Lawyer Magazine.
• Represented the secured lenders of Complete Energy Holdings LLC in the consensual foreclosure upon the holding company equity in an 837MW electric generating facility.

Sponsor and Company Experience

Steve has advised numerous financial sponsors and their portfolio companies in bankruptcy and insolvency-related matters.

• Represented GT Real Estate Holdings, LLC in its chapter 11 case filed in Delaware to facilitate the wind-down of a proposed mixed-use real estate development planned to include a practice facility for the Carolina Panthers, as well as the resolution of all related claims.

Other Experience

• Represented the independent director of FirstEnergy Nuclear Generation, LLC in the chapter 11 cases of FirstEnergy Solutions, Corp. and its debtor affiliates.
• Represented Gelson's Markets, a TPG Capital portfolio company, in its stalking horse bid for a selection of grocery stores in the chapter 11 cases of Haggen Holdings, LLC.
• Represented funds and other entities advised by Bain Capital Credit in post-confirmation litigation over the enforceability of a contingent value rights agreement entered into in connection with the confirmed plan of reorganization of Twin River Worldwide Holdings, Inc. in the United States Bankruptcy Court for the District of Rhode Island.