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Latham & Watkins

Restructuring 2010

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RankingHighly commended
InnovationCreating a precedent for credit bidding by private equity firms in distressed transactions
Originality7
Rationale6
Impact6
Total19
DescriptionRepresented Centrebridge Partners in acquiring the “fulcrum” debt of Greatwide Logistics in the secondary market, and in a subsequent debt-for-control transaction. The lawyers found a way of dragging along dissenting minority lenders to a credit bid in a “section 363” asset sale, which has since been followed in other expedited asset sales