Experience

Xerium Technologies, Inc. Chapter 11

Citigroup, as Agent

In a stunningly successful international restructuring that was accomplished through a pre-packaged bankruptcy, Chadbourne represented Citicorp as agent for a syndicate of over 100 secured lenders. Chadbourne led the restructure of over $600 million lent to Xerium Technologies, one of the world's leading suppliers of industrial textiles. The immensely complicated transaction included over 20 foreign borrowers and guarantors and involved difficult legal issues given the international and cross-border aspects of the debtors' operations. These efforts culminated in the company filing a prepackaged Chapter 11 bankruptcy in March 2010 to consummate the restructure. Chadbourne negotiated the debtor-in-possession financing and a consensual plan of reorganization.