Kurt Mayr is proud to chair Bracewell's distinguished financial restructuring department, which is regularly lauded by international ranking organizations, he also serves as managing partner of the Connecticut office. He represents creditors, debtors, acquirers and other interested parties in transactions both out-of-court and under court supervision.
A significant portion of Kurt's practice involves representing creditors in complex restructurings, including senior bank lenders, ad hoc noteholder groups and official creditor committees. Kurt has represented creditor groups in ground breaking tribal gaming workouts, including Foxwoods and Mohegan Sun and the current restructuring of the debt obligations of the Commonwealth of Puerto Rico.
Kurt has deep experience advising second lien investors on how to navigate the challenges of their intercreditor agreement to protect second lien rights and maximize recoveries. He regularly advises individual investment fund clients regarding restructuring/litigation strategies for distressed/special situation opportunities. Kurt has also successfully represented domestic and foreign debtors in highly contested and litigated restructuring proceedings.
Recent Notable Matters
Optim Energy LLC — debtor in Chapter 11 proceedings, including the successful 363 sale of the Twin Oaks Plant to a unit of Blackstone Group and the confirmation of a plan of reorganization for the debtors’ other remaining power generation business
First lien bank agent/DIP lender — major international bank as agent for first lien facility, DIP facility and exit financing in connection with the restructuring of more than $1.4 billion of debt in the Chapter 11 cases of Penn Virginia
Warren Resources second lien lender — second lien lender in the Chapter 11 proceeding of Warren Resources, an oil and gas business with $550 million of funded debt
Ahern second lien noteholder group — Noteholder group in Chapter 11 proceedings of Ahern Rentals, Inc. that resulted in a full recovery for the noteholders after the court agreed to terminate Ahern’s exclusive right to file a plan of reorganization. The M&A Advisor recognized this transaction in two categories in the 2014 Turnaround Awards, including as the Restructuring Deal of the Year (over $500 million to $1 billion).
Foxwoods noteholder group — noteholder group in groundbreaking $2.2 billion restructuring of tribal owned Foxwoods Casino
Investment funds — restructuring the debt of the Commonwealth of Puerto Rico and its agencies
Mohegan Sun noteholder group — three tranches of bonds in $1.5 billion recapitalization of tribal owned Mohegan Sun Casino
Trico Marine second lien noteholder group — holders of second lien notes issued by Trico in connection with Trico's Chapter 11 cases
CCS Medical second lien lenders — Chapter 11 cases of CCS Medical and its subsidiaries
Investment fund — proposed multibillion dollar out-of-court restructuring
Major international bank — restructuring of monoline insurer, SCA/Syncora
Major international bank — New York Yankees parking garage operations and financial restructuring
Vertis second lien noteholder group — pre-packaged Chapter 11 Case of Vertis and its subsidiaries
Abitibi Consolidated noteholder group — out-of-court restructuring of Abitibi Consolidated
Dura Automotive second lien lenders — Chapter 11 restructuring of Dura Automotive
Bowater noteholder group — out-of-court restructuring efforts and Chapter 11 cases of Bowater, Inc.
Major international bank — out-of-court restructuring of monoline insurer, CIFG and its affiliates
Unisys noteholder group — out-of-court recapitalization of Unysis
TOUSA second lien lenders — Chapter 11 cases of TOUSA and its subsidiaries
Tembec noteholder group — restructuring of Tembec Industries pursuant to Canadian law
Edelnor S.A. — as debtor in connection with its Chapter 11 prepackaged case
Multicanal S.A. — as petitioner with its request for recognition of its Argentine court-approved restructuring pursuant to section 304 of the Bankruptcy Code
Global Telesystems — as debtor in connection with its Chapter 11 prepackaged case
Publications and Speeches
"Crafty Mayr helps bondholders rebuild value," Hartford Business Journal, November 16, 2015.
"7 Rulings Hospitality Attys Are Thankful For In 2013," Law360, November 26, 2013.
"4 Hot Bargaining Zones In Tribal Casino Debt Deals," Law360, November 8, 2013.
"The Scope of Disclosure Under Rule 2019," Bankruptcy Law 360, February 2010.
"Ad Hoc Committee and the Misuse of Bankruptcy Rule 2019," Norton Journal of Bankruptcy Law and Practice, December 12, 2007.
"Bankruptcy Rule 2019: To Disclose or Not Disclose, That is the Question," The Bankruptcy Strategist, October 18, 2007.
"Bankruptcy Rule 2019 and the Unwarranted Attack on Hedge Funds," ABI Journal, September 2007.
"Back to Butner's Basic Rule - The Fundamental Flaw of Non-Debtor Substantive Consolidation," Norton Journal of Bankruptcy Law and Practice, February 2007.
Penelist "International Insolvency Forum Shopping Issues Under the U.S. Bankruptcy Code", 130th Annual Meeting of the New York State Bar Association, International Law and Practice Session, New York City, 2007.
"Chapter 15's First Major Case: It's Also Yukos Oil's Second U.S. Bankruptcy Case," The Bankruptcy Strategist, 3 Vol. 24 Law Journal Newsletters 2A, Dec 2006 - Jan 2007.
"Unlocking the Lockup: The Revival of Plan Support Agreements Under New § 1125(g) of the Bankruptcy Code," 15 Norton Journal of Bankruptcy Law and Practice 6, December 2006.
"Enforcing Prepackaged Restructurings of Foreign Debtors Under the U.S. Bankruptcy Code," 14 American Bankruptcy Institute Law Review 469, Winter 2006.
"Postpetition Plan Support Agreements: Delaware Bankruptcy Court Gives Approval," The Bankruptcy Strategist, September 2006.
"Using Chapter 15 to Overcome U.S. Securities Law Impediments to Effective Ancillary Relief in Cross-Border Reorganizations," 15 Norton Journal of Bankruptcy Law and Practice 367, August 2006.
"How the § 1145 Exemption Can Be Used to Facilitate the Issuance of New Securities in Cross-Border Restructurings," 1 Bloomberg Corporate Law Journal 3, Summer 2006.
"A Tale of Two Proceedings: 'Turnabout is Fair Play' in the Yukos U.S. Bankruptcy Cases," 24 Vol. XXV American Bankruptcy Institute Law Journal 6, July 2006.