Turnaround & Workouts Names Verso Deal to 2016 Successful Restructurings List

January 25, 2017


Los Angeles—January 25, 2017—In its January 2017 issue, Turnarounds & Workouts highlighted O’Melveny client Verso Corporation in its list of Successful Restructurings – 2016.

“Verso’s filing was one of the largest and most complex of 2016,” the publication observed. 

As Turnarounds & Workouts noted, Verso had merged with NewPage Corporation a year earlier, but its complicated dual capital structure and controversial shared services agreement stemming from the acquisition of NewPage exacerbated Verso’s financial distress.

“Despite these burdens, Verso emerged from Chapter 11 in less than six months without any material legal battles,” the publication noted.

The O’Melveny team representing Verso included partners George Davis, Andrew Parlen, Peter Friedman, and Suzzanne Uhland, and counsel Daniel Shamah.

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Julie Fei
O’Melveny & Myers LLP