• Burlington — Representation of the national off-price retailer with sales of $11.55 billion, in the strategic expansion of their store footprint through distressed asset purchases. While other retailers are experiencing declines in revenue and relevancy, Burlington has focused on increasing the company’s market presence and accessibility to a broader customer base. With the assistance and expertise of attorneys at JW, Burlington Stores has pursued expansion in a unique manner, through the assumption and assignment of unexpired and under-market leases of certain ‘big-box’ retail debtors. To date, JW has assisted and advised Burlington Stores in the acquisition of more than 150 leases via § 363 asset sales in several high-profile retail bankruptcies, including those of Bed Bath & Beyond, 99-Cents, Conn’s, Big Lots, JoAnn, Rite Aid, Bargain Hunt, Party City, American Signature, and Saks Fifth Avenue. Burlington and JW continue to work towards expanding the Burlington footprint and achieving Burlington’s market share goals.
• WPG (Bankr. S.D. Tex.) — Following confirmation of WPG’s prepackaged Chapter 11, the company, led by Cushman Wakefield, oversaw a nationwide effort to reduce WPG’s state and local ad valorem tax assessments for pre-bankruptcy tax years. This effort involved prosecuting 16 adversary proceedings in the bankruptcy court under seldom used, but very powerful, Bankruptcy Code section 505, after overcoming an initial wave of motions to abstain from state tax assessors. The JW team developed and implemented a bespoke process that organized our team’s efforts to settle, and in some cases, litigate to trial, a large docket of cases in an efficient and timely manner, delivering results quicker and leaner than typical state litigation. Our process resulted in significantly reduced tax liability for the company and reflects the creative way JW uses its deep knowledge of the full scope of the Bankruptcy Code to drive client results. JW also served as co-counsel to WPG in its chapter 11 cases wherein noteholders agreed to fully equitize the Company’s unsecured notes while all other debt rode through. With the overwhelming support of its creditors, WPG and its debtor affiliates confirmed a plan and emerged from Chapter 11, completing a financial restructuring that reduced the Company’s debt by nearly $1 billion.
• Chesapeake (Bankr. S.D.Tex.) — Representation as co-counsel to Chesapeake Energy Corporation and 40 of its subsidiaries in their Chapter 11 cases, filed on June 28, 2020. Chesapeake, now Expand, is an oil and natural gas exploration and production company with a high-quality, unconventional oil and natural gas asset portfolio, with substantial positions in top U.S. onshore plays. Chesapeake and its debtor-affiliates had more than $9 billion of funded debt obligations at the commencement of their Chapter 11 cases. Prior to commencing the Chapter 11 cases, Chesapeake obtained commitments from certain of its secured creditors for over $4 billion of new capital, including a $925 million new money debtor-in-possession financing facility, a $600 million fully backstopped rights offering, and $2.5 billion of exit facilities as part of a comprehensive restructuring support agreement that eliminated approximately $7 billion of Chesapeake’s funded debt obligations.
• Condor Inversiones (Bankr. S.D.Tex.) — Representation as co-counsel to Condor Inversiones SpA, Huemul Inversiones SpA, and Condor II, LLC, Chilean renewable energy holding companies forming part of Mainstream Renewable Power’s 1.4 GW Andes Renovables wind and solar platform, in their Chapter 11 cases. The Debtors filed voluntary petitions on August 11, 2023, amid a multi-jurisdictional ownership and restructuring dispute between Mainstream Renewable Power and funds managed by affiliates of Ares Management, the Debtors’ mezzanine lenders, with parallel litigation pending in Chile, Ireland, and Spain. The Chapter 11 cases facilitated a global settlement enabling the restructuring of approximately $1.0 billion in project senior debt, a $145 million new secured loan commitment from Mainstream, the restructuring of existing mezzanine debt, and the entry of Ares-affiliated funds as a minority equity owner in the platform. The cases were dismissed in November 2023 following the successful conclusion of the reorganization.
• Diebold Nixdorf (Bankr. S.D.Tex.) — Representation as co-counsel to Diebold Nixdorf, Incorporated and certain of its U.S. and Canadian subsidiaries, a leading global financial and retail technology company with a presence in more than 100 countries, in the first-ever cross-border restructuring involving dual main proceedings under Chapter 11 of the U.S. Bankruptcy Code and a scheme under the Dutch Act on Confirmation of Extrajudicial Plans (WHOA), including the first-ever Chapter 15 recognition of a sanctioned WHOA reorganization plan. The debtors filed prepackaged Chapter 11 petitions on June 1, 2023, with parallel Dutch scheme proceedings commencing the same day. Through the dual proceedings, Diebold restructured over $2.7 billion in funded debt, obtained a $1.25 billion DIP facility that converted to exit financing upon emergence, and distributed substantially all reorganized equity to prepetition creditors. The restructuring was completed in 71 days, with Diebold emerging on August 11, 2023. The matter was recognized with the 2024 TMA International Company Turnaround/Transaction of the Year Award.
• Sorrento Therapeutics (Bankr. S.D.Tex.) — Representation as co-counsel to Sorrento Therapeutics, Inc. and its wholly owned subsidiary Scintilla Pharmaceuticals, Inc., a clinical and commercial stage biopharmaceutical company, in their Chapter 11 cases. Sorrento filed voluntary petitions on February 13, 2023, after a significant arbitration award triggered a liquidity crisis that threatened the company’s ability to continue operations and advance its pipeline. The cases involved securing $75 million in debtor-in-possession financing to stabilize operations, conducting multiple Section 363 asset sales — including a court-supervised auction of Sorrento’s majority equity stake in Scilex Holding Company (Nasdaq: SCLX) and the sale of joint venture interests and other portfolio assets — and the negotiation and confirmation of a Chapter 11 plan following extensive mediation.
• GWG (Bankr. S.D.Tex.) — Representation as co-counsel to GWG Holdings, Inc., a publicly traded life settlements and alternative investments company in their chapter 11 cases. GWG filed voluntary petitions on April 20, 2022, with additional affiliated entities filing on October 31, 2022, to collectively resolve more than $2.1 billion in debt. The cases presented extraordinary challenges, including an ongoing Securities and Exchange Commission investigation, allegations of fraud by approximately 27,000 secured bondholders, and the resignation of the debtor’s board of directors during the pendency of the proceedings. Through a heavily litigious sixteen-month process, Debtors’ counsel worked with the Chief Restructuring Officer to investigate management conduct, stabilize operations, and negotiate a fully consensual Chapter 11 plan. The confirmed plan established two post-confirmation trusts — the Wind Down Trust, to monetize the company’s assets (including interests in Beneficient, FOXO, and a life insurance policy portfolio) for the benefit of bondholders and other stakeholders, and the Litigation Trust, to pursue claims against the company’s former directors, officers, and professional advisors.
• Pipeline Health (Bankr. S.D.Tex.) — Representation as co-counsel to Pipeline Health System, LLC and its affiliates, which filed voluntary petitions on October 2, 2022, in their Chapter 11 cases. Pipeline Health is a for-profit “safety net” hospital system operating seven hospitals, three health clinics, and three medical group centers across California, Texas, and Illinois, serving approximately 135,000 patients annually. Pipeline’s plan restructured over $600 million of financing obligations.
• Strike (Bankr. S.D.Tex.) — Representation as co-counsel to Strike, LLC and its affiliated debtors, a leading full-service pipeline, facilities, and energy infrastructure solutions provider headquartered in The Woodlands, Texas, in the successful sale of substantially all of the company’s assets to an affiliate of American Industrial Partners for over US$115 million plus the assumption of certain liabilities, and confirmation of a liquidating plan in their chapter 11 cases. Strike filed voluntary petitions on December 6, 2021, entering into an asset purchase agreement with affiliates of American Industrial Partners, the company’s largest debtholder, which served as the stalking horse bidder in a court-supervised auction and sale process under Section 363 of the Bankruptcy Code. In connection with the sale, AIP provided approximately US$29 million in debtor-in-possession financing to support the company’s operations throughout the sale process.
• Carlson Travel (Bankr. S.D.Tex.) — Representation as co-counsel to Carlson Travel, Inc. and 37 of its affiliates (“CWT”) in the fastest cross-border prepackaged restructuring transaction to date. On November 12, 2021, the Bankruptcy Court entered an order confirming CWT’s prepackaged Chapter 11 plan of reorganization, just 18 hours after commencing bankruptcy proceedings. CWT is a leader in business travel management with over 12,000 employees and operations in 140 countries and territories around the world. As a result of the restructuring, CWT eliminated almost $900 million of its $1.6 billion of debt, secured access to $775 million of exit facilities and a $350 million equity investment, and preserved the entirety of its worldwide employee base.
• Belk (Bankr. S.D.Tex.) — Representation as co-counsel to Belk, Inc. and 17 affiliated debtors, the nation’s largest privately owned department store company, in obtaining approval of a prepackaged reorganization plan within 24 hours of filing their Chapter 11 cases. Belk filed its Chapter 11 petitions shortly after 5:00 p.m. on February 23, 2021, and obtained confirmation and effectiveness of its plan on February 24, 2021, setting a national record for the fastest-ever prepackaged case from filing to emergence. The restructuring reduced Belk’s secured debt by approximately $450 million, provided $225 million in new capital, left unsecured creditors unimpaired, and preserved the company’s operations across its 291 stores and approximately 17,000 employees. The plan was supported by 99% of the first lien term loan claims and 100% of the second lien term loan claims, enabling Belk to complete an expedited balance sheet restructuring while avoiding the cost and disruption of a prolonged Chapter 11 process.
• Rock International (Bankr. S.D.Tex.) — Representation as co-counsel to Rock International Investment Inc. and an ad hoc committee of noteholders in the restructuring of US$300 million in senior notes issued by Rock International Investment Inc., a British Virgin Islands-incorporated special purpose vehicle, and guaranteed by Shandong Yuhuang Chemical Co., Ltd., a China-based petrochemical group. The restructuring was implemented by way of a scheme of arrangement in the British Virgin Islands. The Chapter 15 petition was filed on November 19, 2020, and the proceeding was subsequently recognized under Chapter 15 of the U.S. Bankruptcy Code as a foreign main proceeding in December 2020. The Chapter 15 recognition was granted one day after the BVI scheme was sanctioned, enabling the restructuring to take effect with respect to the New York law-governed notes and binding all noteholders to the scheme’s terms in the United States.
• California Pizza Kitchen (Bankr. S.D.Tex.) — Representation as co-counsel to California Pizza Kitchen, Inc. (CPK) and its affiliates, which filed voluntary petitions on July 29, 2020, in their prearranged Chapter 11 restructuring. CPK is an iconic restaurant brand that specializes in California-style pizza with locations internationally and throughout the United States. CPK’s plan received near unanimous approval from all voting classes and allowed CPK to emerge from Chapter 11 in November 2020, reducing its debt obligations by over $225 million.
• Valaris (Bankr. S.D.Tex.) — Representation as co-counsel to Valaris plc and 89 of its subsidiaries in their prearranged Chapter 11 cases. Valaris, which is incorporated in the United Kingdom, is the world’s largest offshore driller by fleet size, owning 67 drilling rigs and operating in every major offshore hydrocarbon basin throughout the globe. Valaris and 89 of its subsidiaries filed voluntary Chapter 11 petitions on August 19, 2020, with a restructuring support agreement and backstop commitment agreement to fully equitize all $7.1 billion of its prepetition funded debt, consisting of an unsecured revolving credit facility and 15 series of unsecured notes. The noteholders supporting the restructuring committed to a fully backstopped rights offering for $500 million of new secured notes upon emergence from Chapter 11 as well as a $500 million DIP financing facility.
• All Saints (Bankr. S.D.Tex.) — Representation as co-counsel to AllSaints, the global contemporary fashion brand, in the restructuring of its store portfolio through parallel Company Voluntary Arrangements (CVAs) of two English tenant companies, and its Chapter 15 proceeding in the United States. AllSaints successfully obtained recognition in the U.S. under Chapter 15 of the Bankruptcy Code and in Canada under Part IV of the Companies’ Creditors Arrangement Act, with final recognition granted on July 6, 2020. The matter represented a series of major firsts, including the first U.S. recognition of a landlord CVA, the first Canadian recognition of a CVA, and the first compromise of U.S. and Canadian lease liabilities via a CVA.
• Hornbeck Offshore Services (Bankr. S.D.Tex.) — Representation as co-counsel to Hornbeck Offshore Services, Inc. and its affiliates, in its Chapter 11 restructuring. Hornbeck provides marine transportation and subsea installation services to support the deep water drilling and production needs of their exploration and production, oilfield service, offshore construction, and U.S. military customers. The Hornbeck Chapter 11 cases were filed on May 19, 2020, with a prepackaged plan of reorganization that provided $75 million in debtor-in-possession (DIP) financing and a fully backstopped $100 million rights offering.
• Ultra Petroleum (Bankr. S.D.Tex.) — Representation as co-counsel to Ultra Petroleum Corp. and seven affiliated debtors, a publicly traded, independent oil and natural gas exploration and production company and historically one of the lowest-cost operators in the domestic oil and gas industry, in their Chapter 11 restructuring. Ultra filed voluntary petitions on May 14, 2020, with a prearranged restructuring support agreement backed by holders of 100% of the loans under its first lien RBL credit facility, approximately 85% of the loans under its first lien term loan, and approximately 67% of its second lien notes. The restructuring addressed the combined effects of significant leverage and a challenging low commodity price environment, while preserving the company’s large-scale, low-cost base of natural gas and condensate production. Through the Chapter 11 process, Ultra eliminated approximately $2.0 billion of indebtedness and obtained exit financing in the form of a revolving credit facility with a $100 million initial borrowing base and $60 million in commitments. The plan allowed the business to emerge as a private company with substantially improved liquidity and reduced debt.
• Stage Stores (Bankr. S.D.Tex.) — Representation as co-counsel to Stage Stores, Inc. and its affiliate Specialty Retailers, Inc. in their Chapter 11 cases, filed on May 10, 2020. Stage operated in 42 states through 437 department stores under the Bealls, Palais Royal, Peebles, Stage and Goody’s brands and 289 off-price stores under the Gordmans brand. Stage had $1.6 billion in revenue in 2019.
• Neiman Marcus Group LTD (Bankr. S.D.Tex.) — Representation as co-counsel to Neiman Marcus Group LTD LLC and affiliates in their pre-arranged Chapter 11 cases, commenced on May 7, 2020. The Company successfully completed its restructuring of over $5.5 billion of funded indebtedness in under five months. The plan eliminated more than $4 billion of debt and more than $200 million of annual cash interest expense and preserved more than 13,000 jobs.
• Weatherly (Bankr. S.D.Tex.) — Representation as Debtors’ counsel to Weatherly Oil & Gas, LLC, an E&P company, in its complex Chapter 11 case, filed on February 28, 2019, involving the sale of substantially all of its assets through nine separate asset sales and the settlement of significant P&A liability with the State of Texas and State of Louisiana.
• Exco (Bankr. S.D.Tex.) — Representation as co-counsel to the Official Committee of Unsecured Creditors in the Chapter 11 case of EXCO Resources, Inc., an independent oil and natural gas company with principal operations in Texas, North Louisiana, and the Appalachia region. EXCO filed voluntary petitions on January 15, 2018, with approximately $1.4 billion of funded debt obligations following a sustained downturn in commodity prices and uncertainty in the energy market. Committee counsel led aggressive litigation efforts on behalf of the Committee throughout an intensely contested case that spanned more than seventeen months and involved a lien challenge and derivative standing fight, two disclosure statement hearings, several rounds of mediation, multiple proposed plans, a multi-day confirmation trial, and dozens of adversary proceedings and contested matters. Despite unsecured creditors being out-of-the-money in the debtor’s capital structure, Committee counsels’ sustained advocacy — including leveraging litigation positions and creditor challenges to proposed plans — drove negotiations that ultimately resulted in a substantial recovery for general unsecured creditors under a fully consensual plan supported by every key constituency. EXCO emerged from bankruptcy on June 28, 2019, having equitized over $1 billion of funded debt and reduced its leverage by more than $1.1 billion.
• Exide (Bankr. D. Del.) — Representation as Debtors’ counsel to Exide Technologies in its freefall Chapter 11 case, which resulted in Exide’s restructuring or refinancing of more than $1 billion of debt, including the equitization of more than $635 million of prepetition notes.
• Delta (Bankr. D. Del.) — Representation of Delta Petroleum General Recovery Trust and Par Petroleum Corporation in certain avoidance actions involving alleged overriding royalty interests.
• LifeCare (Bankr. D. Del.) — Representation as Debtors’ counsel to LifeCare Holdings, an operator of long-term acute care hospitals, and its debtor affiliates in their Chapter 11 sale and structured dismissal.
• Credit Suisse (Bankr. D. Del.) — Representation of Credit Suisse, as administrative agent for the secured lenders, in the Chapter 11 reorganization of Buffets Restaurants Holdings and its affiliates.
• Syms (Bankr. D. Del.) — Representation as Debtors’ counsel to Syms Corp. and Filene’s Basement, off-price retailers, in their Chapter 11 liquidation.
• CTD (Bankr. D. Del.) — Defense of Communications Test Design in an adversary proceeding involving alleged trade-secret misappropriation, trademark infringement, and breach of contract in the Nortel Networks bankruptcy cases.
• Accuride (Bankr. D. Del.) — Defense of Special Committee in a valuation dispute in the Accuride Corporation Chapter 11 cases. Accuride is a manufacturer and supplier of commercial vehicle components.
• CIT (Bankr. S.D.N.Y.) — Representation as Debtors’ counsel to CIT Group in its “prepackaged” bankruptcy plan, the largest in U.S. history at the time, which included solicitation of thousands of bondholders and banks holding in excess of $33 billion in debt.
• BNA (Bankr. D. Del.) — Representation of Bureau of National Affairs (now Bloomberg BNA) in the acquisition of its subsidiary via a Chapter 11 plan of reorganization.
• Sportsman’s (Bankr. D. Del.) — Representation as Debtors’ counsel to Sportsman’s Warehouse, an outdoor sporting goods big-box retailer, in its successful Chapter 11 reorganization.
• Goody’s Family Clothing (Bankr. D. Del.) — Representation as Debtors’ counsel to Goody’s Family Clothing, Inc. and its affiliated debtors, a moderately priced family apparel retailer that operated approximately 350 stores in small to midsize markets throughout the United States, in its chapter 11 reorganization. Goody’s emerged from bankruptcy in October 2008 as a privately held company operating 287 stores in 20 states.
• Plastech (Bankr. E.D. Mich.) — Representation as Debtors’ counsel to Plastech Engineered Products, an automotive supplier, in its emergency bankruptcy filing and subsequent sale of substantially all its assets (with the cooperation and consent of its senior lenders — the “Big 3” U.S. automotive manufacturers). Plastech produced several seminal cases establishing the contours of then recently enacted section 503(b)(9).
• Tweeter (Bankr. D. Del.) — Representation as Debtors’ counsel to Tweeter Home Entertainment Group, a specialty consumer electronics retailer, and its affiliates in their Chapter 11 liquidation.

• Lawdragon 500 Leading Global Restructuring & Insolvency Lawyers, 2020, 2022-2026

Publications

• Author of written materials for 2017 Bernard O. Dow Leasing Institute CLE on “Addressing Lease Defaults in Bankruptcy,” presented by Hon. Marvin Isgur, U.S. Bankruptcy Court, Southern District of Texas and Karl Daniel Burrer, Esq.

Speaking Engagements

• “Chapter 15 Bankruptcy Issues, Venue, and Jurisdiction,” Jackson Walker Fast Takes Podcast (July 15, 2020)
  

• Association of Women Attorneys Foundation, Trustee
• Texas Bar Foundation, Fellow

More Client Results

JW Belonging & Inclusion Newsletter – April 2026

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Newsletters • April 27, 2026

Lawdragon Recognizes Matthew Cavenaugh, Wade Cooper, and Kristhy Peguero Among Leading Bankruptcy & Restructuring Lawyers of 2026

Jackson Walker is pleased to announce that Matthew Cavenaugh, Wade Cooper, and Kristhy Peguero have been named to the 2026 Lawdragon 500 Leading Bankruptcy & Restructuring Lawyers list.

Attorney News • March 18, 2026

JW Belonging & Inclusion Newsletter – October 2025

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Newsletters • October 6, 2025

Lawdragon Recognizes Matt Cavenaugh, Wade Cooper, and Kristhy Peguero Among Leading Bankruptcy & Restructuring Lawyers of 2025

Jackson Walker is proud to share that Matt Cavenaugh, Wade Cooper, and Kristhy Peguero have been named to the 2025 Lawdragon 500 Leading Bankruptcy & Restructuring Lawyers list. Their recognition highlights their skill in navigating high-stakes financial challenges and delivering results.

Attorney News • June 30, 2025

JW Belonging & Inclusion Newsletter – August 2024

View Jackson Walker’s August 2024 Belonging & Inclusion Newsletter, Perspectives.

Newsletters • August 23, 2024

Lawdragon Recognizes Matt Cavenaugh, Wade Cooper, and Kristhy Peguero Among Leading Bankruptcy & Restructuring Lawyers of 2024

“These are the lawyers who can make all the difference for a business, debtor or creditor and have done so time and time again,” Lawdragon noted in its announcement of the “500 Leading Bankruptcy & Restructuring Lawyers” list for 2024.

Attorney News • June 18, 2024

Jackson Walker Receives Two Awards at 18th Annual Turnaround Awards Gala

Jackson Walker congratulates our Bankruptcy, Restructuring, & Recovery team for their recognition as award recipients at the 18^th Annual Turnaround Awards Gala during the 2024 Distressed Investing Summit. The award ceremony took place on Tuesday, March 19, 2023, at The Ben Hotel in Palm Beach, Florida.

Spotlight • April 11, 2024

JW Diversity & Inclusion Newsletter – December 2023

View Jackson Walker’s December 2023 Diversity & Inclusion Newsletter, Perspectives.

Newsletters • December 4, 2023

JW Diversity & Inclusion Newsletter – August 2023

View Jackson Walker’s August 2023 Diversity & Inclusion Newsletter, Perspectives.

Newsletters • August 24, 2023

<i>The American Lawyer</i>: Jackson Walker is Nation’s Top Local Counsel in Large Bankruptcies, as Bankruptcy and Restructuring Filings Rebound

The American Lawyer cited new research which named Jackson Walker’s Bankruptcy, Restructuring, & Recovery group as the top local debtor’s counsel in the nation so far this year.

Mentions • August 4, 2023

Lawdragon Recognizes Matt Cavenaugh, Wade Cooper, and Kristhy Peguero Among Leading Bankruptcy & Restructuring Lawyers of 2023

“This elite corps of U.S. lawyers represent the best of the best helping companies navigate ailing economies and uncertain times,” Lawdragon noted in its announcement of the “500 Leading Bankruptcy & Restructuring Lawyers” list for 2023.

Attorney News • June 20, 2023

JW Diversity & Inclusion Newsletter – November 2022

View Jackson Walker’s November 2022 Diversity & Inclusion Newsletter, Perspectives.

Newsletters • November 17, 2022

Jackson Walker Congratulates 17 Attorneys Named to 2022 Lawdragon 500 Lists

Jackson Walker announces the selection of 17 attorneys to Lawdragon‘s lists of the 500 leading practitioners in bankruptcy and restructuring law and corporate employment law.

Attorney News • August 12, 2022

Jackson Walker Congratulates 12 Attorneys Named to 2020 Lawdragon 500 Lists

Jackson Walker announces the selection of 12 attorneys to Lawdragon‘s lists of the 500 leading practitioners in Restructuring & Insolvency and Corporate Employment. Honorees are selected based on demonstrated leadership in their practice areas and the noteworthy matters they have handled particularly within the past year.

Attorney News • December 18, 2020

Chapter 15 Bankruptcy Issues, Venue, and Jurisdiction

Jackson Walker Bankruptcy, Restructuring, & Recovery attorneys Kristhy Peguero and Jennifer Wertz discuss chapter 15’s cross-border insolvency and its invocation of the jurisdiction of the U.S. bankruptcy court to assist in the administration of foreign insolvency and restructuring proceedings.

Podcasts • July 15, 2020

Jackson Walker Elects 11 Attorneys to Partnership

Jackson Walker is pleased to announce the election of 11 attorneys to partnership on Friday, February 7, 2020.

Attorney News • February 10, 2020

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