Colt Defense

Designer, developer, and manufacturer of weapons for the military and law enforcement, Colt Defense LLC teamed with O’Melveny lawyers in November 2014 with a plan to refinance existing debt. In June 2015, the company switched strategies to restructure the company through chapter 11 proceedings. O’Melveny secured approval of its first-day motions—including US$20 million in DIP financing, brokered negotiations between Colt’s unsecured creditors and a large stakeholder, and negotiated a lease dispute for a Colt manufacturing facility, allowing the centuries-old company to emerge from chapter 11 in January 2016 with reduced debt, an improved capital structure, and enhanced liquidity.