Pryor Cashman Represents Wilmington Savings Fund Society, FSB in Walter Investment Bankruptcy
Pryor Cashman has been retained as counsel to Wilmington Savings Fund Society, FSB, as indenture trustee to $540 million in senior unsecured notes issued by Walter Investment Management Corp. (“WIMC”), in connection with its restructuring. WIMC, with its direct and indirect subsidiaries, is an independent originator and servicer of mortgage loans and a servicer of reverse mortgage loans.
On November 30, 2017, WIMC filed for bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York. Representing Wilmington Savings Fund Society, FSB are Partners Seth H. Lieberman and Patrick Sibley and Associate Matthew W. Silverman, members of Pryor Cashman’s Corporate Trust Practice and Bankruptcy, Reorganization and Creditors’ Rights Group.
For Lieberman and Sibley, this engagement is the latest in a long line of work on behalf of indenture trustees. In the last year alone, Pryor Cashman has represented indenture trustees and agents in the bankruptcies of rue21, inc., 21st Century Oncology Holdings, Inc., Payless Holdings LLC, Vanguard Natural Resources, LLC, and Caesars Entertainment Operating Company, Inc.
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