Simpson Thacher Represents Apax Partners in the Completed Chapter 11 Restructuring of Answers Corporation
04.20.17
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Simpson Thacher represented funds advised by Apax Partners (“Apax”) in its capacity as an equity and debt holder of Answers Corporation (collectively with certain of its affiliates, “Answers”), in Answers’ recently consummated Chapter 11 bankruptcy case. Answers is a leading global provider of high-quality internet content and customer solutions. Answers filed for protection under Chapter 11 of the Bankruptcy Code on March 3, 2017. The restructuring significantly de-levered Answers’ balance sheet. As a pre-petition lender under Answers’ first lien and second lien facilities, Apax received its pro rata share of second lien exit loans, new common stock and warrants in Answers upon emergence.
The Simpson Thacher team included Elisha Graff, Edward Linden and Randi Lynn Veenstra (Restructuring and Bankruptcy); Ken Wallach and Sunny Cheong (Capital Markets); Ryerson Symons and Elizabeth Romefelt (M&A); Brian Steinhardt (Banking and Credit); Gary Mandel, Jonathan Cantor and Sophie Staples (Tax); Brian Robbins and Patricia Adams (ECEB); and Jeanne Annarumma (ERISA).