Lucy F. Kweskin

Lucy’s representative matters include:

• GWG Holdings, Inc. and certain of its subsidiaries, a publicly-traded life settlements and alternative investments company with approximately $2.1 billion in debt at the time of filing, as lead debtors’ counsel, in connection with their Chapter 11 cases.
• GLAS USA LLC and GLAS Americas LLC, as administrative agent and collateral agent, respectively, under the $100 million DIP facility and $1.2 billion exit facility in connection with the chapter 11 case of Washington Prime Group, a major owner of malls and shopping centers across more than 100 locations across the United States, and its affiliates. We also represented GLAS USA LLC and GLAS Americas LLC as administrative agent and collateral agent under three separate syndicated credit facilities totaling over $1 billion of prepetition secured debt.
• Debtor Century 21 Department Stores LLC, the iconic off-priced luxury retailer, and its affiliates in their chapter 11 cases, in which the debtors successfully executed store closing sales at each of their retail locations, sold their intellectual property assets for 10x more than the pre-auction “stalking horse” bid, became among the first chapter 11 debtors to sell a participation interest in a sizeable business interruption insurance claim from the effects of the COVID-19 global pandemic and entered into a global settlement resolving the estates’ claims against their equity owners, cumulatively resulting in anticipated material distributions to general unsecured creditors.
• First lien lender in True Religion’s 2020 chapter 11 cases, in which plan of reorganization resulted in issuance to client of convertible second-lien notes that convert to majority equity ownership.                    
• New money DIP lender in chapter 11 case of Valeritas to provide financing to bridge to a 363 sale of substantially all assets, where despite COVID-19, sale was approved by the Bankruptcy Court in under 60 days and closed in April 2020 with DIP repaid in full.
• Last-out first lien prepetition lender, DIP lender and credit bid acquirer in chapter 11 case of Benevis Corp., a dental services organization providing management services to 150 dental practices in 16 states.
• Lender holding $50 million in first lien debt in connection with a contested cash collateral hearing and credit bid acquisition in connection with the chapter 11 case of Marshall Broadcasting Group, Inc.
• Ad hoc group of private credit lenders holding more than $300 million of first lien term debt of Westmoreland Resource Partners LP, a coal mining company and subsidiary of Westmoreland Coal Company, in connection with WMLP’s chapter 11 cases that featured a credit bid purchase with a strategic operating partner, significant litigation to address material legacy labor liabilities, and other environmental, surety, reclamation and regulatory issues.
• National Retirement Fund in Caesars Entertainment Operating Company’s chapter 11 cases, including successfully defending against claims brought by the Debtors in multiple jurisdictions that client violated the automatic stay by expelling certain Caesars affiliates from NRF, ultimately leading to reinstatement of Caesars in NRF and substantial payment by Caesars to client.
• Creditors' Committee in Maxus Energy Corp. bankruptcy cases, where the Committee jointly proposed and consummated a chapter 11 plan creating a litigation trust to assert $12 billion in litigation claims against former parent company.
• Group of private credit lenders holding more than $80 million of first lien term debt in connection with the first chapter 11 case of Global Geophysical, a company providing seismic data solutions to the global oil and gas industry, which involved litigation over a heavily-contested priming DIP loan from a group of unsecured bondholders leading to a refinancing at par plus accrued.
• Private credit lender holding more than $200 million of first lien term debt in connection with an out-of-court restructuring of a privately owned information technology software company.
• Numerous defendants in connection with fraudulent transfer litigation in Boston Generating LLC (energy).
• Group of private credit lenders holding first lien debt of $35 million in connection with chapter 11 case of Digital Domain Media Group, featuring a roll-up DIP and 363 sale to a strategic purchaser.

Columbia Law School, JD

James Kent Scholar; Harlan Fisk Stone Scholar; Columbia Business Law Review

The Wharton School of the University of Pennsylvania, BS, Economics, Concentration in Finance

• New York

Court

• US District Court for the Eastern District of New York
• US District Court for the Southern District of New York