Entegra Power Group
O’Melveny achieved confirmation of the fully consensual chapter 11 plan for Entegra and 11 of its subsidiaries less than two months after filing for chapter 11 protection in the US Bankruptcy Court for the District of Delaware. Notably, the plan, which significantly reduces Entegra’s institutional indebtedness from US$1.5 billion to approximately US$788 million, did not receive a single dissenting vote. By proceeding with a fully consensual prepackaged plan, we ensured that the debtors’ day-to-day business operations would not be impacted, the chapter 11 cases were significantly shortened, and the administration of the chapter 11 cases were simplified and less costly. Entegra was named one of the largest and most successful restructurings of 2014 by Turnarounds & Workouts.