UCI International’s Bankruptcy
June 08, 2016
On June 1, 2016, UCI International LLC and certain of its affiliates (“UCI”) filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware. UCI, a subsidiary of Rank Group, is a motor vehicle parts and systems business with approximately $469 million in funded indebtedness at the timing of its bankruptcy filing, including approximately $69 million in drawn borrowings under its senior secured asset‑based revolving credit facility (the “ABL Facility”), under which the two lenders are Credit Suisse AG, Cayman Islands Branch (“Credit Suisse”) and an affiliate of Rank Group. UCI also has $400 million in unsecured notes. UCI’s bankruptcy filing followed a missed $17.25 million interest payment on the unsecured notes in February 2016 and efforts at an out‑of‑court resolution.
Cravath represents Credit Suisse as lender and administrative agent of the ABL facility in connection with the Chapter 11 cases.
The Cravath team representing Credit Suisse in connection with UCI’s restructuring and court proceedings includes partners Paul H. Zumbro and Omid H. Nasab, practice area attorney Jin Hee Kim and associates Gregory D. Beaton, Sharon Freiman, Brendan C. Benedict, Samuel P. Niles and Sean M. Linnehan. Summer associates Matthew Weiner and Alex B. Weiss are also working on these matters.
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1992, Yale CollegeDistinction in Major, cum laude
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J.D., 2006, Columbia Law SchoolHarlan Fiske Stone Scholar
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A.B., 2002, Duke University
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