March 9, 2017
Curtis Representing Sammons Financial Group Member Companies in the Chapter 11 Cases of BCBG Max Azria
Curtis is currently representing Midland National Life Insurance Company, and North American Company for Life and Health Insurance, both of which are Sammons Financial Group Member Companies, in connection with certain prepetition loans made to high-end women’s fashion house BCBG Max Azria. Curtis successfully negotiated for the SFG Member Companies to gain inclusion in the lender group proposing to provide debtor-in-possession financing, which was agreed in principle before the Chapter 11 filing. On February 28, 2017, certain BCBG entities filed for Chapter 11 protection in the United States Bankruptcy Court for the Southern District of New York. The cases are currently pending before the Honorable Judge Shelley C. Chapman. On March 2, Judge Chapman signed an interim order authorizing the BCBG debtors to enter into the proposed DIP financing, which granted the Debtors access to cash necessary to fund their continuing operations.
The Curtis team working on this engagement includes Restructuring and Insolvency Partners Steven J. Reisman and Cindi M. Giglio, Corporate Partner Evan S. Borenstein, Restructuring and Insolvency Counsel James V. Drew, Corporate Associate Brendan Snowden and Restructuring and Insolvency Associate Sean T. Daly.