Asset-Based Credit Facilities in Chapter 11: Lender Options to Protect and Improve Position, Maximize Recovery

Ms. Hildebrandt is a partner in the Global Finance Group of Paul Hastings and head of the Los Angeles Corporate Department. She represents banks and other lenders in commercial finance matters (including asset-based loans and cash flow loans), restructurings, workouts, and special situation lending. Ms. Hildebrandt has extensive experience in multi-tranche and multi-lien transactions. In particular, she has extensive experience representing lenders in two lien deals, split collateral deals and first-out / last-out unitranche transactions. In addition, she has experience in various business sectors including healthcare, software, retail, insurance, media, franchise, restaurants, casinos, manufacturing, and vehicle and airline transportation, and in cross-border transactions.

Mr. Kennedy is an attorney in Holland & Knight's Chicago office and a member of the firm's Financial Services Team and co-lead of the Asset-Based Lending Team. He has more than 30 years of experience and focuses his practice on representing lead financial institutions in complex syndicated credits to asset-based and leveraged borrowers. Mr. Kennedye has significant experience documenting asset-based credit facilities in the context of sponsor-driven acquisitions, unitranche facilities and working capital, high yield/term debt and first lien/second lien transactions. In addition, his practice includes representing national financial institutions in single and multicurrency credit facilities, cross-border financings and other leveraged finance and cash flow transactions. Mr. Kennedy's asset-based lending experience spans various industries, including manufacturing, trucking, food products, lender finance, retail, beverage and energy. Prior to joining Holland & Knight, he was the head of asset-based lending and a partner in the debt finance group of an international law firm.

Mr. Mcllwain practices in the area of corporate finance and litigation, with a particular emphasis on bankruptcy and restructuring matters. He represents both debtors and creditors in Chapter 11 proceedings across the country, as well as in numerous out-of-court restructurings. Mr. McIlwain routinely advises finance clients on front-end deal structuring and intercreditor issues. He also represents clients in business litigation matters, both in state and federal court. His industry experience includes oil and gas, healthcare, manufacturing, food and agriculture, retail and financial services.