Corporate Trust

UCI International, LLC (“UCI International”) and American Gilsonite Company, Inc. (“AGC”) completed their respective financial restructurings and successfully emerged from the Chapter 11 bankruptcy process. Pryor Cashman acted as counsel to Wilmington Trust, National Association (“Wilmington Trust”), which served as indenture trustee to certain notes issued by each of the companies.

As a result of the restructurings, holders of the notes to which Wilmington Trust acted as indenture trustee will assume ownership of each respective company. UCI International’s confirmed plan of reorganization went effective December 30, 2016, and AGC’s confirmed plan of reorganization went effective December 31, 2016. 

UCI International, an Illinois-based replacement auto parts manufacturer, and certain of its affiliates, filed for bankruptcy on June 2, 2016 in the U.S. Bankruptcy Court for the District of Delaware. AGC, the world’s principal commercial miner and processor of the mineral uintaite (marketed under its trademark name “Gilsonite”), and certain of its affiliates, filed for bankruptcy on October 24, 2016, also in the U.S. Bankruptcy Court for the District of Delaware.    

Wilmington Trust, National Association was represented by Partner Seth H. Lieberman, Partner Patrick Sibley and Associate Matthew W. Silverman, all members of Pryor Cashman’s Bankruptcy, Reorganization and Creditors’ Rights Group.

The Pryor Cashman Team

Over the past decade, Lieberman and Sibley have represented indenture trustees in many of the largest U.S. bankruptcies, including Caesars Entertainment Operating Company, Inc., Penn Virginia Corporation, RCS Capital Corporation, Momentive Performance Materials Inc., AMR Corporation, NewPage Corporation, Tropicana Entertainment LLC, Asarco LLC, Tribune Company, The Majestic Star Casino LLC, Cooper-Standard Holdings, Inc., Metaldyne Corporation, WCI Communities, Inc., KH Funding Corporation, Star Tribune Holdings Corporation, Finlay Enterprises, Inc. and Bayonne Medical Center.

Representative Bankruptcy Matters

Over the past decade, Lieberman and Sibley have represented indenture trustees in many of the largest U.S. bankruptcies, including:

• Caesars Entertainment Operating Company, Inc.;
• Penn Virginia Corporation;
• RCS Capital Corporation;
• Momentive Performance Materials Inc.;
• AMR Corporation;
• NewPage Corporation;
• Tropicana Entertainment LLC;
• Asarco LLC;
• Tribune Company;
• The Majestic Star Casino LLC;
• Cooper-Standard Holdings, Inc.;
• Metaldyne Corporation;
• WCI Communities, Inc.;
• KH Funding Corporation;
• Star Tribune Holdings Corporation;
• Finlay Enterprises, Inc; and
• Bayonne Medical Center.

To learn more about our work in this area, please visit our Bankruptcy, Reorganization and Creditors’ Rights practice page.