Simpson Thacher represented MatlinPatterson Global Opportunities Partners II L.P. (together with certain other “Fund II” entities, the “Debtors”) in their chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York (the “Court”).
The Debtors’ chapter 11 plan was confirmed by the Court on May 22, 2023, and the plan was consummated and went effective on June 1, 2023 (the “Effective Date”).
The Debtors were private investment funds that specialized in distressed investing, particularly in South America, and became entangled in litigations in both the trial and appellate courts of multiple jurisdictions, including New York, Miami, São Paulo, Grand Cayman and London. Simpson Thacher’s London Litigation team, led by Tyler Robinson and Lauren Brazier, represented the Debtors together with local counsel in all of these pre-bankruptcy litigations over the past several years, which were then consolidated and contested in the Court and ultimately consensually resolved in the chapter 11 plan.
Simpson Thacher guided the Debtors through lengthy negotiations pursuant to a court-ordered mediation with the litigation creditors and insurance carriers to reach three court-approved settlements and achieve a consensual plan of liquidation. The Debtors successfully resolved all of their disputes with their creditors and commenced an orderly liquidation on the Effective Date. Following the Effective Date, Simpson Thacher will work with the Plan Administrator to facilitate the dissolution of the Debtors and any related transactions and filings to complete the liquidation.
The Simpson Thacher team includes Elisha Graff, Kathrine McLendon, Jamie Fell, Dov Gottlieb and Jonathan Mitnick (Restructuring); Tyler Robinson, Lauren Brazier, Alex Winsley, Isobel Pepper and Taylor Sutton (Litigation); and Olga Gutman, Linda Tieh and Enzo Salamone (Funds).