O’Melveny Honored by M&A Advisor at 11th Annual Turnaround Awards

March 24, 2017


NEW YORKMarch 24, 2017O’Melveny was recognized at M&A Advisor’s 11th Annual Turnaround Awards on March 23, 2017, for the firm’s role in the restructuring of Colt Defense LLC, the iconic American supplier of firearms to the US military, law enforcement, and civilian customers. Colt's restructuring was selected by M&A Advisor as its Distressed M&A Deal of the Year (US$250M to US$500M) for 2016. The awards, which acknowledge recent corporate restructuring and turnaround management successes, were presented at a ceremony in Palm Beach, Florida.

Colt teamed with O’Melveny lawyers in November 2014 with a plan to refinance existing debt, and in June 2015, 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.

With some of the world’s leading insolvency lawyers, O’Melveny helps clients face virtually any aspect of a restructuring matter. Our restructuring team has broad experience representing the full panoply of participants in bankruptcies and out-of-court restructurings. Given the complexity of the issues our clients face, we also draw on the firm’s finance, capital markets, M&A, tax, labor, and litigation specialists to ensure all of our clients’ interests are met.

About O’Melveny
O’Melveny’s clients shape markets, set precedents, and break boundaries. They are stalwarts and innovators, the names you trust and the next big thing. And for more than a century, O’Melveny has been right beside them, kicking down walls and putting up defenses to help our clients achieve their most important goals. With approximately 700 lawyers in 15 offices worldwide guided by the principles of excellence, leadership, and citizenship, we uphold a tradition of treating our clients’ challenges and opportunities as our own. What do you want to achieve? For the answers, please visit www.omm.com

Emily Lattal 
O’Melveny & Myers LLP