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Megan M. Wasson
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- Associate
- New York
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Megan M. Wasson works on bankruptcy and restructuring matters. She assists significant parties, including bondholders, indenture trustees, secured and unsecured creditors, and creditors’ committees, in complex Chapter 11 bankruptcy cases, out-of-court restructurings and other distressed situations.
Megan has recently been involved in the representation of the Official Committee of Unsecured Creditors in the bankruptcy cases of Endo International plc, one of the country’s largest pharmaceutical companies, which involves numerous cutting edge litigations and lien challenges as well as issues attendant to mass tort cases. Prior to that, Megan was involved in the representation of an ad hoc committee of governmental entities holding opioid-related claims in connection with the Chapter 11 proceedings commenced by Mallinckrodt plc, one of the largest manufacturers and distributors of opioids.
Experience
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Endo International plc – Assist in the representation of the Official Committee of Unsecured Creditors in the bankruptcy cases of Endo International plc, one of the country’s largest pharmaceutical companies, which involves numerous cutting edge litigations and lien challenges as well as issues attendant to mass tort cases.
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Mallinckrodt plc – Assist in the representation of the Ad Hoc Committee of seven states’ attorneys general and the Plaintiffs Executive Committee in the multidistrict opioid litigation. The representation included restructuring and settlement negotiations that culminated in the entry into a Restructuring Support Agreement (RSA) for a Chapter 11 plan that served as the catalyst for the commencement of Mallinckrodt’s Chapter 11 cases. The RSA was executed by 50 U.S. states and territories as well as holders of 85% of Mallinckrodt’s subsidiary-guaranteed unsecured notes, and the Chapter 11 plan was premised upon a reorganization of the company with a $1.3 billion reduction of funded debt. An Opioid Trust, formed to effectuate distributions to holders of opioid claims, will be funded through $1.6 billion of cash payments paid over a period of seven years, warrants to purchase 19.99% of the equity of the reorganized company and various claims of the company against third parties, and is expected to utilize a portion of the assets for abatement purposes – a critical issue in addressing the damage caused by the ongoing opioid epidemic.
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Frontier Communications Corporation – Assist in the representation of the Official Committee of Unsecured Creditors of Frontier Communications Corporation in connection with the company’s balance sheet restructuring. Burdened by more than $17 billion of debt, the company sought Chapter 11 protection in the Bankruptcy Court for the Southern District of New York on April 14, 2020, and confirmed its Chapter 11 plan on August 21, 2020.
Credentials
Education
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J.D., University of Virginia School of Law, 2016 - Assistant Technical Editor, Virginia Journal of Social Policy and the Law
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B.A., magna cum laude, International Relations and Spanish, Tufts University, 2013
Bar Admissions
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New York, 2017
Languages
- Spanish
Focus Areas
- Bankruptcy and Restructuring
- Bankruptcy Litigation and Investigations
- Bondholder, Lender and Other Creditor Representations
- Creditor Committee Representations
- Debtor and Company-Side Representations
- Distressed Investing
- Distressed Mergers and Acquisitions
- Municipal and Government Insolvencies
- Special Situations
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