Restructuring & Reorganization
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Date Value Client Description
Pending N/A Specialty Products Holding Corp. Advising Company in chapter 11 filing to resolve asbestos claims
Dec 2012 N/A PBGC (re: United Airlines) Advised the PBGC in negotiating the successful restructuring of two unsecured notes held by the PBGC
Feb 2008 N/A Northern Rock Blackstone advised Northern Rock on a range of strategic options and developed a restructuring plan used under public ownership
Nov 2008 N/A Klockner Pentaplast Advised Klockner Pentaplast on its debt buyback
Mar 2009 N/A Flextronics Provided financial and restructuring advisory relating to Nortel
Nov 1988 N/A Federated Department Stores Blackstone acted as financial advisor to the Official Committee of Bondholders, developing a viable restructuring plan that maximized recoveries to the Bondholders
May 1995 N/A Dow Corning Blackstone was retained in 1995 following Dow Corning’s bankruptcy filing caused by its silicone breast implants law suits
Jan 2008 N/A BluePoint Re Blackstone advised BluePoint Re, a financial guarantee reinsurer, regarding the restructuring of its risk portfolio
Aug 1995 N/A Aeromexico / Mexicana Airlines Blackstone acted as financial advisor to the Company and developed a business plan around its merger with Mexicana Airlines. Additionally, Blackstone advised the company on a balance sheet recapitalization to optimize the company’s capital structure
Aug 2010 N/A Actavis Group Hf Advised Actavis on its debt refinancing in collaboration with its lenders
Jun 2010 CHF 2.5bn Oerlikon Advised Oerlikon on its restructuring
Jun 2007 A$2bn Basis Capital Advised to Basis Capital, Australia's largest hedge fund, on its reorganization and negotiations with its creditors
Jan 2009 €800mm Thule Advised Thule on its €800 million restructuring
Apr 2009 €750mm Mauser Advised Mauser on structuring and executing a debt buyback transaction
Sep 2013 €406mm Quokka Advised BGP Investment on the refinancing of the Quokka CMBS through the issue of the 5-year €406m Monnet Finance CMBS
Jul 2011 €400mm Tus Holdings Advised Tus Holdings on its financial restructuring with all 23 lenders with approximately €400 million of liabilities restructured
Mar 2008 €400mm Nybron Advised the Senior Lenders on Nybron's €400 million restructuring
Jan 2011 €400mm Cinven Advised Cinven on the consensual restructuring of Jost with lenders
Pending €4.8bn IVG Immobilien Advising on the restructuring of the Company
Mar 2009 €4.7bn Parex Banka Advised Parex Banka, Latvia’s largest domestic bank, on its restructuring, including a review of strategic options, “Good Bank / Bad Bank” structuring, and securing ongoing financing
Dec 2012 €4.3bn Deutsche Annington Advised the Company on the restructuring of its GRAND (German Residential Asset Note Distributor) securitisation, the largest corporate European CMBS issuance as of the transaction date
Mar 2009 €316mm Bite Advised Bite on the restructuring of €316 million of debt, including a successful pre-negotiated tender offer
Mar 2012 €206bn Hellenic Republic (Greece) Acted as financial advisor to the Steering Committee of the Private Creditor-Investor Committee for Greece (PCIC) on the debt exchange of €206 billion of PSI-eligible bonds, the largest sovereign restructuring in history
Mar 2012 €206bn Greece Blackstone acted as exclusive financial advisor to the Steering Committee of the Private Creditor-Investor Committee on Greece's sovereign debt exchange - the largest sovereign debt exchange in history.
May 2010 €2.0bn The Ad Hoc Committee of Corral Petroleum Holdings AB Noteholders Corral is the holding company of Preem, Sweden’s largest oil refining and marketing business. Blackstone advised the ad hoc committee of noteholders on the terms of a restructuring
Dec 2010 €1bn Senior Lenders Steering Committee of Carl Zeiss Vision Holding GmbH Advised the senior lenders steering committee comprising Avoca Capital, Commerzbank, Credit Suisse, Deutsche Bank, Lloyds Banking Group and M&G on the restructuring of Carl Zeiss Vision
Jul 2008 €150mm CFS Fairness opinion provider to the Company and sponsor on their restructuring
Dec 2009 €140mm Schoeller Arca Systems Advising the Steering Committee of Senior Lenders to Schoeller Arca Systems in a restructuring of the company's debt involving a Dutch Court process
Jun 2008 €1.3bn Koninklijke Philips Electronics Advised Klöckner Pentaplast on its discussions with creditors and raising of accounts receivable factoring facilities of up to €100 million
Jun 2012 €1.3bn Klöckner Pentaplast Blackstone advised the Company on its restructuring
Aug 2012 ¥34.7bn (yen) Covalent Advised ad hoc group of unsecured bondholders in comprehensive out-of-court restructuring, including a partial tender offer and term enhancements for the non-tendered bonds
Apr 2013 £385mm Enterprise Advised Company on a range of strategic options, ultimately resulting in a sale to Spain-based Ferrovial
Aug 2010 £250mm DX Group Advised DX on its capital refinancing and management buy-in
Dec 2010 £250mm Alliance Medical Advised Alliance Medical on the completion of its consensual restructuring negotiations with lenders
Mar 2012 £2.5bn Viridian Advised the Company on its refinancing and restructuring
Pending £2.5bn Punch Taverns Advising the Company on its on-going restructuring of £2.5 billion of securitized debt
Oct 2011 $975mm Centaur Inc. Acted as financial adviser to the Company in an in-court restructuring of $975 million of liabilities
Aug 1992 $929mm Phar-Mor Inc. Blackstone acted as financial advisor to the holders of Senior Secured Bank Debt and Senior Secured Notes
Jun 2011 $900mm Station Casinos Inc. Represented the OpCo senior secured credit facilities, totaling approximately $900 million, in the Chapter 11 restructuring
Oct 1991 $900mm Carson Pirie Scott & Co. Blackstone acted as financial advisor to a secured creditor in connection with a fraudulent conveyance dispute during Chapter 11
Sep 1995 $883mm The Caldor Corporation Blackstone acted as financial advisor to the Company, assisting in the development of a business plan and the negotiation of a restructuring
Sep 2008 $85mm Madagascar Oil Advised Senior Lenders on the renegotiation and repayment of $85 million Senior Facility
Oct 2010 $840mm M Resort Spa & Casino LLC Acted as the financial adviser to Bank of Scotland (Lloyds) in an out-of-court restructuring of approximately $840 million of liabilities
Apr 2005 $815mm Meridian Automotive Systems Blackstone acted as financial advisor to an ad hoc committee of senior lenders during Meridian’s Chapter 11 proceedings
Mar 2010 $800mm Natural Products Group LLC Advised debtor in restructuring approximately $800 million in liabilities through a pre-packaged bankruptcy
Feb 2014 $800mm Excel Maritime Advised senior secured lenders on strategic alternatives
Dec 2012 $8.6bn Tribune Company Advised the senior lenders of Tribune, representing approximately $8.6 billion of liabilities, in the Company’s chapter 11 restructuring
Dec 2010 $8.5bn AbitibiBowater Inc. Acted as financial advisor to the Company in its cross-border Chapter 11 and CCAA restructuring
May 2010 $790mm Bombardier Inc. Advised company on extending maturity of and amending the covenants on the $790 million term loan
Aug 2002 $762mm Alestra (for AT&T) Negotiated a comprehensive restructuring of AT&T’s Mexican joint venture, including a new equity investment by AT&T and a tender / exchange offer for the company’s bonds
Feb 1998 $754mm APS Holding Corporation Blackstone acted as financial advisor to APS Holding Corporation in its restructuring in Chapter 11, including advice with respect to asset sales
Apr 1996 $753mm G. Heileman Brewing Co. Blackstone advised G. Heileman Brewing Co. on the restructuring of $365 million of debt involving sale of the company
Sep 2013 $750mm Eastman Kodak Company Acted as financial advisor to an ad hoc group of second lien noteholders during the Company's chapter 11 restructuring
Jun 2009 $750mm BTA Bank Advised Monolines wrapping Notes in a Diversified Payment Rights ("DPR") securitization for Kazakhstan's BTA Bank
May 2012 $750mm Barneys (Isth. World) Advised Istithmar World on strategic review of the asset and negotiated a fully consensual out-of-court recapitalization with Perry Capital and the Yucaipa Companies
Dec 2013 $710mm JeffCo (Syncora) Advised Syncora, a bond insurer of Jefferson County Sewer Warrants. in the Chapter 9 bankruptcy process of Jefferson County
Oct 2000 $70mm Weiner’s Stores Inc. Blackstone acted as financial advisor to the unsecured creditors
Mar 2012 $7.6bn Washington Mutual Inc. Advising debtor in its Chapter 11 proceeding, including with respect to valuation, sales process and rights offering
Nov 2009 $7.5bn SemGroup Corporation Acted as financial adviser to the Company in its Chapter 11 restructuring of approximately $7.5 billion of liabilities
Nov 2000 $7.0bn Xerox Corp. Blackstone was retained in 2000 to assist Xerox in addressing liquidity issues and to carry out a restructuring and recapitalization of the firm
Jun 2010 $685mm Hawkeye Renewables, LLC Acted as financial adviser to the Company in its pre-packaged chapter 11 restructuring
Apr 1997 $67mm Grossman’s Inc. Blackstone acted as a financial advisor to the Company, assisting in the negotiation of a restructuring
Pending $660mm BCBG Max Azria Group Advising the Company on various strategic and restructuring-related matters
Feb 2012 $64mm Vitro (UCC) Acted as financial adviser to the Unsecured Creditors Committee; substantially all assets were sold through a 363 sale to Sun Capital
Jan 2012 $645mm Quiznos Advised first-lien lenders in the Company's capital raise and concurrent out-of-court restructuring, achieving unanimous consent
Jan 2008 $635mm Buffets Holding Inc. Blackstone represented holders of $635 million of debt in the Company's Chapter 11 restructuring
Dec 2001 $63.4bn Enron Was retained in 2001 to help navigate the firm through one of the largest and most complex bankruptcies in history
Dec 2006 $625mm Transeastern Homes Blackstone acted as financial advisor to mezzanine lenders of Transeastern Homes, Inc.
Apr 2012 $625mm Los Angeles Dodgers, Inc. Acted as financial adviser to the Company in its Chapter 11 restructuring involving a sale of substantially all assets for $2.15 billion
Sep 1999 $612mm The Singer Company NV Blackstone advised on the restructuring of $612 million of debt
Jun 2003 $610mm Crown Pacific Partners Blackstone acted as financial advisor to Crown Pacific in its Chapter 11 restructuring, including a stand-alone reorganization of its core business and the sale of over $150 million in assets
Mar 2012 $60mm Edgewater and Colorado Belle Advised the senior lenders on the sale of its senior debt and warrants to a strategic buyer
Mar 2012 $605mm Ritz Carlton Grand Cayman Advised Company on negotiations with secured lenders
Mar 2003 $600mm Axtel Advised Axtel on its restructuring of $600 million of debt
Apr 2002 $6.9bn Williams Communications Group Blackstone was retained to assist in the restructuring of the company’s $5.8 billion outstanding debt – one of the fastest and most successful restructurings in the sector
Nov 2003 $6.9bn Cable & Wireless America Acted as financial advisor to the company in its Chapter 11 restructuring, primarily involving the sale of the company
Jan 2010 $6.065bn R.H. Donnelley Corporation Advised the committee of unsecured creditors which holds $6.1 billion of liabilities
Jun 2000 $591mm Safelite Glass Corp. Blackstone acted as financial advisor to Safelite Glass Corp. in its restructuring and emergence from Chapter 11
May 2011 $575mm Angiotech Pharmaceuticals Inc. Acted as financial adviser to the Company during its CCAA and chapter 15 recapitalization
Jan 2010 $570mm Merisant Worldwide Inc. Advised the Company in an in-court restructuring of $570 million of liabilities
Nov 2010 $560mm Twin River (State of Rhode Island) Advised the Rhode Island state authorities regarding Twin River’s restructuring of approximately $560 million in senior secured debt
Aug 2013 $55mm Berry Company Advised the Company on the refinancing of its exit facility and on a $20 million rights offering
Dec 2006 $550mm Granite Broadcasting Corp. Blackstone represented holders of $560 million of debt
Jun 2010 $550mm American Capital Ltd. Represented public noteholders in an out-of-court exchange offer
Sep 2010 $500mm JC Flowers & Co. LLC Advised JC Flowers regarding its investment in German bank HSH Nordbank, including expert testimony regarding valuation
May 2010 $500mm Aleris International Inc. Advised DIP term loan lenders and sponsors for the Plan of Reorganization
Mar 2005 $50.0bn General Motors Blackstone provided advisory services related to 2006 sale of 51% stake in GMAC. Blackstone acted as exclusive advisor to the Company in its efforts to negotiate a VEBA trust for the Company’s ~$50 billion UAW OPEB obligation
Dec 2010 $5.8bn The Goodyear Tire & Rubber Company Acted as on-going financial adviser on assessment of various capital structure, strategic alternatives, including negotiations with unions
Jan 1992 $5.3bn R.H. Macy & Co. Inc. Blackstone acted as financial advisor to the company during its Chapter 11 proceedings, assisting in the development of a business plan and in negotiations with Federated Department Stores
Dec 2000 $5.1bn Montgomery Ward Holding Corp. (for General Electric) Blackstone acted as financial advisor, pre- and post-petition, to GE Capital in the company’s first Chapter 11 filing
Dec 2007 $5.0bn MoneyGram International Blackstone advised on a significant out-of-court restructuring that allowed MoneyGram to avoid bankruptcy by raising $760 million in equity and an additional $750 million in debt financing under extremely adverse capital market conditions
Jul 2009 $495mm Skeie Drilling & Production Advised Bondholders on a $495 million restructuring
May 2004 $487mm New World Pasta Company Blackstone represented senior secured lenders
Feb 2013 $486mm Hawker Beechcraft (Milbank) Advised an ad hoc group of senior unsecured notes in all aspects of the Company's chapter 11 restructuring 
Feb 1999 $484mm Geneva Steel Blackstone advised the Company on its Chapter 11 restructuring, developing a comprehensive 5-year business plan and negotiating the terms of a rights offering for new common equity
Apr 2008 $477mm Minneapolis Star Tribune Blackstone advised the Company in its Chapter 11 restructuring
Jan 1997 $477mm Camelot Music Inc. Blackstone acted as financial advisor to the Committee of Unsecured Creditors and as joint M&A advisor to the Company and the Creditors Committee regarding the sale of the business
Jul 2005 $459mm Allied Holdings Inc. Blackstone represented holders of $260 million of debt
May 2005 $450mm aaiPharma Inc. Blackstone advised the ad hoc committee of bondholders
Oct 2005 $430mm Levitz Furniture Inc. Blackstone advised Levitz during its 2006 Chapter 11 proceedings, developing a long-term business plan, arranging DIP financing, identifying potential buyers and negotiating the sale of the company
Mar 2011 $402mm Highland Hospitality Corporation Representing senior mezzanine lenders in an out-of-court restructuring
Feb 1994 $400mm Evergreen International Aviation Blackstone acted as financial advisor to the Evergreen Senior Holding Company Noteholders during restructuring discussions
Apr 2009 $400mm Emmis Communications Advised the Company on its tender offer
Oct 2006 $400mm Dura Automotive Systems Inc. Blackstone acted as financial advisor to an ad hoc committee of senior lenders during Dura's Chapter 11 proceedings
Dec 2000 $4.7bn The LTV Corporation Blackstone advised in the development of a viable restructuring plan, including negotiating a settlement of a $3 billion pension obligation and the sale of certain steel mills to International Steel Group
Feb 2014 $4.78bn W.R. Grace & Co. Acted as financial adviser to the Company in its Chapter 11 restructuring related to its asbestos liabilities
Apr 2014 $4.66bn Edison Mission Energy (UCC) Advised the UCC in all aspects related to EME's restructuring
Sep 2011 $4.4bn Travelport Limited Advised the Company in extending and restructuring its $715 million HoldCo PIK notes, amending its $1,993 million credit facility and extending a portion of its $300 million revolving credit facility
Oct 2012 $4.27bn Dynegy (UCC) Advised the UCC in all aspects related to Dynegy’s restructuring
Apr 2013 $4.1bn Travelport Advised Travelport on amendment of $1.6 billion of bank debt, issuance of $645 million of second-lien debt, exchange / repayment of $1.2 billion of term loans / bonds and equitization of ~$500 million of HoldCo loans
Apr 2012 $4.1bn Kerzner International Holdings Limited Advised the Company on restructuring of over $4 billion of CMBS and bank debt obligations
Nov 2007 $4.0bn C-BASS Blackstone advised C-BASS on sale of Litton Loan Servicing LP subsidiary and successfully restructured approximately $4 billion of liabilities, all within two months of retention
Pending $3bn Hostess (UCC) Advising UCC with respect to Company's chapter 11 restructuring of secured debt and significant pension obligations
Apr 2006 $38mm ABB Lummus Global Inc. Blackstone advised two of ABB’s subsidiaries in their restructuring of asbestos liabilities in Chapter 11
Oct 2010 $37bn International Lease Finance Corporation Advised the Company in resolving its asset – liability mismatch and addressing its funding needs including lending amendment and extension of $4.5 billion bank facility and advised on issuance of $8.5 billion of financing
Apr 2013 $375mm Indianapolis Downs, LLC Acting as financial adviser to the ad hoc committee of second lien lenders in the chapter 11 restructuring of the Company
Jun 2006 $373mm Communications Corp. of America Blackstone represented Holders of $373 million of debt
Aug 2013 $370mm Northland Resources Advised Bond Trustee on behalf of the bondholders in Northland's restructuring.
Jan 2009 $35.0bn Ford Motor Company Blackstone acted as financial advisor to Ford in its efforts to negotiate, structure and fund a Voluntary Employees’ Beneficiary Association (VEBA) trust to eliminate approximately $24 billion of liabilities related to current and future post-employment healthcare (OPEB) benefits for the United Autoworkers (UAW) union
Aug 2010 $33mm Sokolin LLC Acted as financial adviser to the Company in its out-of-court restructuring
Dec 2010 $33mm Sea Research Foundation Inc. Assisting the foundation in restructuring its debt
Sep 2011 $33mm Harry & David Holdings, Inc. Advised the PBGC in the Company’s chapter 11 restructuring
Sep 2003 $330mm DTN Blackstone advised the Company in its pre-packaged reorganization
Jan 1998 $328mm Paragon Trade Brands Blackstone advised Paragon on its sale to Wellspring pursuant to a Chapter 11 Plan
Nov 2010 $320mm Philadelphia Newspapers, LLC Advised senior secured lenders representing approximately $320 million of liabilities
Aug 1997 $320mm JPS Textile Group Inc. Blackstone advised on the restructuring of $550 million of debt
Oct 2010 $303mm Spansion Inc. Engaged by an adhoc committee of senior noteholders to provide expert opinions and testimony on valuation and contract rejection damages
Feb 2013 $300mm York Capital re: Cecon Advised York Capital on its investment of up to $300 million to fund the construction of Cecon Offshore Construction Vessels ("OCVs")
Jan 1996 $300mm Barney's Inc. Blackstone acted as financial advisor to Barney's, assisting in the development of its business plan and in the negotiation of a restructuring
Jan 2002 $30.2bn Global Crossing Advised Global Crossing during its Chapter 11 proceedings and negotiated the sale of a 61.5% equity interest to Singapore Technologies Telemedia, its more recent recapitalization and debt for equity swap with STT, its sale of its Small Business Group to Matrix Telecom, and its acquisition of IMPSAT Fiber Networks.
Pending $3.9bn OGX Advising OGX on its ongoing efforts to assess its capital structure
Mar 2014 $3.88bn Cengage Learning Advised JP Morgan in its role as agent to the first lien bank credit facilities
May 2004 $3.7bn RCN Corporation Blackstone acted as financial advisor to the company during its Chapter 11 reorganization proceedings
Nov 2007 $3.6bn ACA Capital Holdings Inc. Advised on the restructuring of $69 billion of swaps and $100 million of MTN's, allowing ACA to safeguard $7.3 billion of public finance policies, avoid a receivership, and eliminate billions of dollars of potential structured finance policy claims
Jul 2007 $3.5bn Trans World Airlines Inc. Blackstone represented ETC creditors during TWA’s Chapter 11 filing in 1994. From 1995-1996, Blackstone represented TWA in evaluating strategic, financing and merger alternatives
Jul 2007 $3.5bn Bear Stearns Asset Management Blackstone negotiated with creditors in High-Grade Structured Credit Strategies Fund and High-Grade Structured Credit Enhanced Leverage Fund to reduce “repo” exposure and delever funds
Jan 2011 $3.4bn Motorola Inc. Representing PBGC in evaluating announced spin off transaction of Company’s mobility business in regards to PBGC’s Employee Benefits Program protecting against significant underfunded pension risk
Aug 1999 $3.3bn Iridium (for Motorola) Blackstone advised Motorola consumer sponsors and credited investors on their investment in Iridium as it attempted to restructure in Chapter 11
Mar 2002 $3.3bn AT&T Canada (for AT&T) Advised AT&T during the restructuring of partially owned subsidiary and cross-border service provider AT&T Canada
Nov 2011 $3.2bn Nexen re: OPTI Canada Advised  Nexen regarding its joint-venture oil sands project with OPTI Canada;  reached consensual restructuring transaction involving a new third-party acquisition of OPTI Canada’s joint-venture stake
Jan 2010 $3.2bn Jefferson County Alabama Sewer Authority Involved in the restructuring of financial guarantees in 2009 and 2010
May 2003 $3.2bn Fleming Companies Inc. Blackstone advised the Company in its Chapter 11 proceedings, restructuring in excess of $4 billion in liabilities via asset sales and the reorganization around Core-Mark
Apr 2010 $3.25bn LyondellBasell Industries Inc. Advised Roll-Up DIP lenders holding $3.25 billion of liabilities in an in-court restructuring
Jun 2000 $3.1bn Safety-Kleen Services Inc. Blackstone advised the bank group in Chapter 11 restructuring that partially resulted from significant environmental liabilities
Jan 2012 $3.1bn Houghton Mifflin Harcourt Acted as financial advisor to the Company in its chapter 11 restructuring and advised Company on its raising of $500 million new money credit facility
Jun 2012 $3.1bn Houghton Mifflin Advised the Company in its prepackaged Chapter 11 restructuring
Dec 2013 $3.06bn Patriot Coal Advised the Company in its chapter 11 restructuring
Mar 1999 $295mm Edison Brothers Stores Inc. Blackstone acted as financial advisor to the Official Committee of Unsecured Creditors, assisting in the development of the Plan of Reorganization
Aug 2008 $292mm Bally Total Fitness Blackstone advised on strategic alternatives regarding maximization of shareholder value and liquidity, including an asset sale and negotiating a new credit facility
Dec 1999 $288mm Greater Beijing First Expressways Blackstone advised on the restructuring of $288 million of debt
Jan 2013 $267mm Quad/Graphics Advised Quad/Graphics on the purchase of substantially all of the assets of Vertis Communications through a 363 transaction in chapter 11
Jul 2013 $260mm The Mashantucket Pequot Tribe (Foxwoods Casino) Acted as financial advisor to MBIA and Assured Guaranty, insurers for the Senior Revenue Obligations, in the $2.2 billion restructuring of the Mashantucket Pequot Gaming Enterprise
Jan 2013 $260mm A123 Systems Advised official committee of unsecured creditors in the sale of substantially all the Company's assets to Wanxiang
Sep 2006 $256mm Global Power Equipment Group Inc. Blackstone advised the Company in its Chapter 11 restructuring
Nov 2007 $250mm Taro Pharmaceuticals Industries Ltd. Blackstone acted as advisor to Taro in considering strategic alternatives to resolve a liquidity crisis that resulted from a legacy of poor financial controls and a convoluted capital structure
Aug 2005 $247mm Russell-Stanley Holdings Blackstone negotiated a comprehensive pre-packaged restructuring which received 100% support from creditors prior to filing and negotiated the sale of the Company to One Equity Partners and an affiliate of Mauser Werke GmbH & Co. KG
Aug 2002 $231mm Horsehead Industries Inc. Blackstone acted as financial advisor to Horsehead Industries’ Chapter 11 proceedings and assisted the Company in the Section 363 sale of substantially all of its assets
Jun 2013 $230mm School Specialty (creditors) Advised the Official Committee of Unsecured Creditors through the Company's chapter 11 restructuring 
Sep 2005 $230mm Entergy New Orleans Inc. Blackstone represented holders of $230 million of debt
Nov 2012 $230mm Allen Systems Group Advised an ad hoc senior lender group in the Company's out of court restructuring
Apr 2010 $225mm Magna Entertainment Corp. Advised the official committee of unsecured creditors on alternative restructuring transactions and negotiated a consensual resolution of claims against the company’s parent
May 2013 $225mm Delta re: Pinnacle Airlines Advised Delta Airlines, Pinnacle's largest customer and lessor of the majority of Pinnacle's aircraft, in providing $104 million roll-up DIP facility, restructuring of commercial agreements, and ultimate acquisition of the regional carrier 
Oct 2002 $216mm Mattress Discounters Corp. Blackstone acted as financial advisor to the company, assisting in the development of a business plan and in the negotiation of a restructuring
Jan 2007 $211mm Fedders Corp. Advised the Company on its recapitalization
Sep 2005 $21.8bn Delta Blackstone advised Delta in its successful reorganization under Chapter 11, restructuring over $9 billion of net debt and lease obligations
Jun 2002 $21.5bn Adelphia Blackstone was retained by Comcast Corporation to assist Comcast in formulating a joint proposal with Time Warner to acquire substantially all of Adelphia’s cable assets
Apr 2010 $20bn Hilton Worldwide Advised Blackstone Real Estate Partners on Hilton’s recapitalization
Jun 2010 $20bn Ambac Assurance Corporation Advised Ambac Assurance Corporation on restructuring of CDS and other obligations
Feb 2012 $204mm Evergreen Solar Inc. Advising the Unsecured Creditors Committee
Jun 2010 $200mm Thomas Nelson Inc. Advised secured lenders in an out-of-court restructuring
Oct 2012 $200mm TerreStar Corporation Acted as financial advisor to the Company in its chapter 11 restructuring
Jan 2010 $200mm Simmons Bedding Company Advised $200 million of senior subordinated notes on restructuring of the Company's indebtedness
Jul 2013 $200mm Conexant Advised senior secured creditors in connection with pre-arranged chapter 11 restructuring
Dec 2009 $2.8bn Nortek Acted as financial adviser to the Company in a pre-packaged chapter 11 reorganization
Mar 2009 $2.8bn Delphi Automotive Systems, LLC Blackstone advised the Agent (JPM) on the $3.5 billion DIP Facility with respect to Delphi's reorganization, proposed strategic alternatives, and negotiations with General Motors and the United States Treasury
Sep 2011 $2.7bn Corral Petroleum Advised the ad hoc committee of noteholders of Corral Petroleum Holdings on a $2.7 billion refinancing
Feb 2002 $2.7bn AEI Resources Blackstone advised the bank lender group in the restructuring and sale of AEI resources in Chapter 11
Apr 2002 $2.5bn Exide Technologies Blackstone acted as financial advisor to Exide Technologies in its reorganization and emergence from Chapter 11
Pending $2.3bn MBIA (NPFG) re: Detroit Advising MBIA on its exposure to the bankruptcy of the City of Detroit
Jun 1999 $2.3bn Harnischfeger Industries Inc. Blackstone acted as financial advisor in Harnischfeger Industries’ Chapter 11 proceedings
Dec 2013 $2.2bn MBIA (re: ResCap) Advised as financial adviser to MBIA with respect to its claims against ResCap
Jun 2013 $2.25bn J.C. Penney Advised JC Penney on addressing liquidity needs, including raising a $2.25 billion secured term loan and retiring certain liabilities
Pending $1bn Harris County - Houston SA Advising the Houston Sports Authority with respect to its outstanding debt
Dec 2012 $1bn GECC (re: Homer City) Advised GE on its majority interest in a sale-lease back transaction with Homer City
May 2013 $1bn Dana Gas Advised the Company on the restructuring of its US $1 billion Convertible Sukuk Instrument
Jun 2007 $196mm Mrs. Fields Companies Inc. Blackstone advised the company on its pre-packaged Chapter 11 reorganization, restructuring nearly $200 million of debt
Oct 1995 $19.8bn Olympia & York Companies Blackstone advised unsecured lenders to the Company through its Chapter 11 restructuring
Jul 2003 $19.4bn Mirant Corporation Blackstone acted as advisor to Mirant in its Chapter 11 restructuring
Jun 2011 $187mm MS Gaming Advised the senior lenders on strategic business review and restructuring of liabilities
Jun 2011 $187mm Marnell Sher Gaming LLC Advised Lloyds Bank and Deutsche Bank in the restructuring of casinos
May 1999 $184mm Loehmann’s Inc. Blackstone acted as financial advisor for the debtor during its Chapter 11 proceedings
Nov 2000 $17.4bn Big V Supermarkets Inc. Blackstone acted as financial advisor to the Company during its Chapter 11 restructuring
Apr 2000 $157mm Medical Resources Inc. Blackstone acted as financial advisor to the Senior Noteholders, facilitating a restructuring of $78 million of debt
Feb 2005 $155mm Smarte Carte Inc. Blackstone advised on the restructuring of $155 million of debt
Apr 2002 $15.0bn Flag Telecom Holdings Ltd. Blackstone acted as financial advisor to the company during its Chapter 11 proceedings, assisting in the development of a business plan and in the negotiation of a restructuring
Dec 2012 $14bn LBSF Public Working Group Advised the Working Group of LBSF Creditors, holders of over $14 billion of claims, in negotiating Lehman Brothers consensual plan of reorganization
Sep 1996 $123mm County Seat Inc. Blackstone acted as financial advisor to the company, assisting in the negotiation of a restructuring with various constituencies
Jul 2006 $12.2bn MBIA (Eurotunnel) Blackstone advised the primary debt holder in one of Europe’s most complex restructurings
Mar 2013 $115mm Penn Foster Advised junior creditor group including 2nd lien lenders, senior subordinated notes and junior subordinated notes in the Company's restructuring, which has included the sale of a non-core business line
Jun 2012 $111mm Nebraska Book Co. Inc. Acting as financial adviser to J.P. Morgan, a significant creditor in the Company's chapter 11 proceedings
Feb 2005 $1.9bn Winn-Dixie Blackstone advised Winn-Dixie in its Chapter 11 proceeding, which was named the 2007 Mega Company Turnaround of the Year by the Turnaround Management Association
Feb 2000 $1.8bn The Babcock & Wilcox Company Blackstone acted as financial advisor to the company in its asbestos-related Chapter 11 proceeding and assisted in the negotiation of the plan of reorganization
Aug 2002 $1.8bn Dade Behring Inc. Blackstone advised Dade Behring Inc. in the restructuring of approximately $1.6 billion of liabilities through a pre-packaged Chapter 11
May 2000 $1.8bn Conti Financial Corp. Blackstone advised Conti Financial Corp. on the sale of its Servicing Business and the restructuring of $1.8 billion of debt
Nov 2001 $1.8bn Chiquita Brands International Inc. Blackstone acted as financial advisor to the Company in its pre-packaged Chapter 11 filing
Mar 1999 $1.7bn The Penn Traffic Company Blackstone acted as financial advisor to the company, assisting in the development of a business plan and in the negotiation of a restructuring
May 2013 $1.7bn MBIA Corp (re: B of A) Advised MBIA in negotiations with Bank of America resulting in a comprehensive settlement, including a net payment of $1.7 billion from Bank of America to MBIA and commutation of all MBIA corp. policies held by Bank of America
Pending $1.7bn Lightsquared Acting as financial advisor to an ad hoc group of LP term loan lenders during the Company's chapter 11 restructuring
May 2013 $1.7bn Ambac Financial Group Inc. Acted as financial advisor to the Company in its chapter 11 restructuring of ~$1.7 billion of indebtedness
Jan 2013 $1.77bn NewPage Corporation Advised approximately $1.8 billion of first lien noteholders in the Company's chapter 11 proceedings
Mar 2012 $1.6bn Mohegan Sun Tribal Gaming Authority Acted as financial advisor to the Authority on its recapitalization of $1.6 billion of outstanding debt as well as strategic alternatives
Mar 2012 $1.64bn TerreStar Networks Advised TerreStar Networks on its Restructuring and Sale to DISH Network for $1.375 Billion
Apr 2010 $1.5bn Intrawest ULC Acted as financial adviser to senior lenders in the negotiations of an out-of-court restructuring and refinancing
Nov 2010 $1.5bn Capmark Financial Group Inc. Represented ad hoc committee of Secured Lenders in the Capmark chapter 11 case, $1.5 billion in total claims
May 2013 $1.54bn CEVA Group Plc Advised two of CEVA’s largest creditors on the Company’s recapitalization involving the equitization of some of the group’s debt and infusion of new equity capital pursuant to an underwritten rights offering
Sep 1999 $1.4bn Vencor Inc. Blackstone acted as financial advisor to Vencor during the Company's Chapter 11 proceedings
Jun 2013 $1.4bn Roust Trading (re: CEDC) Advised Roust Trading Ltd. (“RTL”) in its successful acquisition of 100% of the reorganized equity of Central European Distribution Corp (CEDC) through a pre-packaged chapter 11
Sep 2001 $1.4bn Excite@Home (for AT&T) Assisted AT&T in the evaluation of purchasing the broadband network assets of bankrupt Excite@Home
May 1997 $1.3bn Harvard Industries Inc. Blackstone acted as financial advisor to Harvard Industries in its restructuring and, subsequently, on its $240 million acquisition of Doehler-Jarvis
Dec 2008 $1.3bn Flying J Inc. Advised the company in its Chapter 11 filing
Jun 1991 $1.3bn America West Airlines Inc. Blackstone acted as financial advisor to the unsecured creditors in the Chapter 11 restructuring and negotiated a restructuring with Texas Pacific Group–led investor group
Jun 2011 $1.2bn Vitro America Acted as financial adviser to the Unsecured Creditors Committee during the Company’s chapter 11 restructuring; substantially all assets were sold through a 363 sale to Sun Capital
Jun 2010 $1.2bn Smurfit-Stone Container Corporation Advised the Pension Benefit Guaranty Corporation as a member of the Unsecured Creditors Committee in an in-court restructuring
Feb 1991 $1.2bn Hills Department Stores Inc. Blackstone acted as financial advisor during the company’s Chapter 11 proceedings and helped negotiate a consensual Plan of Reorganization
Feb 2003 $1.2bn Combustion Engineering Inc. Blackstone served as financial advisor to Combustion Engineering on the restructuring of its asbestos liabilities in Chapter 11
Apr 2010 $1.1bn Six Flags Entertainment Corporation Advised senior secured lenders representing approximately $1.1 billion of total debt
Dec 2011 $1.1bn MBIA (re: MS) Acted as financial advisor to MBIA in its $1.1 billion comprehensive settlement with Morgan Stanley; the settlement included a commutation of outstanding CDS protection on CMBS purchased by Morgan Stanley from MBIA, as well as pending litigation between the two parties regarding residential mortgage backed securities and MBIA’s restructuring.
Jan 2012 $1.1bn Lee Enterprises Inc. Acted as financial adviser to the Company in its Chapter 11 restructuring
Jun 2012 $1.1bn Financial Guaranty Insurance Company ("FGIC") Blackstone advised on strategic alternatives including capital infusion and portfolio restructuring
Jan 2007 $1.0bn The Pacific Lumber Company Blackstone acted as financial advisor to Palco in its Chapter 11 restructuring
Feb 2009 $1.0bn Allied Capital Blackstone advised the Company on its out-of-court restructuring of $1,015 million of liabilities

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