Elizabeth R. McColm

McColm co-authors with fellow Paul, Weiss partner Sean Mitchell, an annual chapter in the International Comparative Legal Guide (ICLG) To Corporate Recovery and Insolvency. McColm also co-authors, alongside partner Brian Bolin, the annual “Investment Fund Activity in Chapter 11” chapter in Americas Restructuring Review. McColm speaks frequently at industry events, including the Annual Wharton Restructuring and Distressed Investing Conference, as well as various seminars hosted by American Bankruptcy Institute such as the International Insolvency & Restructuring Symposium and the Complex Financial Restructuring Program.

Cross-Border Representations

• Cineplex Inc., Canada’s largest cinema chain and the largest unsecured creditor in the chapter 11 cases of Cineworld plc and its affiliates, a U.K.-incorporated cinema chain operator with theaters throughout the U.K., Europe, and the United States
• Secured and unsecured lenders of Boart Longyear, an Australian registered supplier of drilling services, drilling equipment and performance tooling, in its recapitalization transaction which reduced approximately $795 million of the company’s debt through two Australian court-approved schemes of arrangement and companion chapter 15 proceedings by the U.S. Bankruptcy Court for the Southern District of New York
• An ad hoc group of senior secured creditors of Oro Negro, a Mexican offshore drilling company, in a restructuring of over $900 million of secured debt obligations issued pursuant to Norwegian law-governed documents that involves contested concurso mercantil proceedings in Mexico, a related chapter 15 proceeding in the Southern District of New York, and litigation in Singapore and Norway
• U.S. counsel to Petra Diamonds, an independent diamond mining group, in a restructuring of the company’s approximately $600 million in second lien notes through proceedings in the United Kingdom and the United States
• A Greek shipping company in connection with its contingency planning strategy and the resolution of certain disputes with its stakeholders
• U.S. counsel to Bain Capital, as purchaser, in the sale of Virgin Australia pursuant to Australian Deeds of Company Arrangement and related U.S. chapter 15 cases
• An ad hoc group of senior secured lenders to Onsite Rental Group, an equipment rental business providing services to Australia’s largest mining, construction, industrial, oil & gas, infrastructure and government organizations, in the company’s out-of-court recapitalization
• An ad hoc group of holders of senior secured notes issued by Mirabela Nickel, an Australian company with nickel mining operations in Brazil, in the company’s restructuring efforts and Australian receivership proceeding
• An ad hoc group of secured lenders in a cross-border restructuring of Ceva Group, one of the world’s largest non-asset based supply chain management companies, in a two part out-of-court exchange
• The ad hoc committee of bondholders of Quebecor, a printing company with operations in North America, Europe, Latin America and India, in the company’s cross-border U.S. and Canada bankruptcy filings. Quebecor successfully emerged from protection under the CCAA in Montreal and chapter 11 in New York
• The senior secured lenders to Australian-based Nine Entertainment, an Australian media company with holdings in radio and television broadcasting, newspaper publications and digital media, in the restructuring of more than AU$2 billion of debt by means of a scheme of arrangement under which the lenders became the principal equity holders of the reorganized company
• The ad hoc committee of lenders of Eitzen Chemical, a Norwegian shipping company, in a restructuring of over $1 billion of debt obligations

Financial and Other Services

• The senior secured lenders to SquareTwo Financial Corporation, a purchaser and manager of charged-off consumer and commercial accounts receivables, in the company’s prepackaged chapter 11 case
• The ad hoc committee of bondholders of GMAC in a $28.5 billion debt-exchange offer, one of the largest exchange offers ever consummated
• An indenture trustee and certain noteholders of Algeco Scotsman Global Finance, a global business service provider, in challenging a restructuring transaction proposed by the company and negotiating and closing an improved transaction pursuant to which Algeco’s sponsor, TDR Capital, agreed to purchase $125 million of notes held by the group as well as invest $250 million in Algeco on a go-forward basis