Announcements
April 27, 2011

Kramer Levin Represents American Capital in Connection with Orchard Brands Corp. Bankruptcy

Kramer Levin represented American Capital, Ltd. in connection with the recently confirmed bankruptcy cases of Orchard Brands Corporation and its affiliates, one of the nation's largest catalog retailers. Kramer Levin counseled American Capital as lender in connection with a $140 million debtor-in-possession financing, and negotiated the terms of a Chapter 11 plan of reorganization and $400 million in exit financing facilities and other agreements. Judge Kevin Gross of the U.S. Bankruptcy Court in Wilmington, Del. called the restructuring an "excellent result" that will preserve about 4,000 jobs. The Kramer Levin team included Corporate partner John Bessonette, Banking and Finance partner David J. Fisher, Litigation partner Gregory Aaron Horowitz, Tax partner Barry Herzog, Corporate Restructuring and Bankruptcy associates Juliana Oliveira and Rachael Ringer, and Corporate associates Marissa Leung, Lilias E. Lee, Megan Fuller and Sarah E. Kaehler.

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