Shana A. Elberg

Ms. Elberg has represented companies, creditors, equity holders, lenders, investors, sellers and purchasers in matters including prepackaged and prearranged bankruptcies, traditional Chapter 11 cases and out-of-court workouts and acquisitions. She has experience working across a wide variety of industries, including pharmaceuticals, energy, financial services, sports, shipping and retail.

Ms. Elberg has been selected for inclusion in Chambers USA for her work in bankruptcy and restructuring and named one of Lawdragon’s 500 Leading Global Bankruptcy & Restructuring Lawyers. She is also a recipient of the Burton Award for Legal Writing and has been recognized by Turnarounds & Workouts as an Outstanding Young Restructuring Lawyer.

She serves on Skadden’s Diversity, Hiring and Summer Associate committees and is the chair of the New York office’s Diversity Committee. Ms. Elberg also serves on the Steering/Planning Committee for Focus on Gender Diversity, a corporate restructuring-focused gender equity initiative. In addition, she is a member of the UJA-Federation of New York’s Restructuring Executive Committee, a member of the Practical Law Bankruptcy Advisory Board, a member of AJC’s Financial Services Executive Committee and a co-author of the Chambers International Insolvency Guide.

Ms. Elberg has advised clients across a diverse range of industries. Among several other matters, these representations have included:

Debtor Representations

• LL Flooring in its Chapter 11 case and sale of 219 stores
• Endo Pharmaceuticals in its highly complex multinational Chapter 11 case involving over $8 billion of debt and trillions of dollars of asserted mass tort claims
• Stearns, a leading mortgage originator, in its Chapter 11 reorganization involving approximately $1.3 billion of debt
• Concordia International, a specialty pharmaceutical company, in its $3.7 billion dual solicitation Canadian CBCA-Chapter 11 restructuring
• SunEdison, a renewable energy developer with wind and solar projects located on six continents, in its complex multinational Chapter 11 case involving the restructuring of approximately $8.7 billion of debt and $2.3 billion in gross asset sales
• Nautilus Holdings, a container shipping company, in its Chapter 11 case involving $770 million of debt
• Excel Maritime, an owner and operator of dry bulk carriers, in its prearranged Chapter 11 case, which eliminated over $600 million in debt
• Better Place, an electric vehicle company, in its Chapter 15 case and global wind-down
• Syms Corp. and Filene’s Basement (retail affiliates) in their bankruptcy cases
• CIT Group in its prepackaged bankruptcy cases, which reduced its debt by approximately $10.5 billion
• Mrs. Fields’ Original Cookies in its prearranged bankruptcy case Out-of-Court Restructurings
• a portfolio entity in the entertainment industry in connection with contingency planning and out-of-court liability management transactions
• Party City in its $450 million out-of-court debt deleveraging and recapitalization transactions
• a hospitality company in its out-of-court liability management transactions
• Everest Capital, an emerging markets-focused hedge fund, in its out-of-court wind down
• iPayment in its out-of-court exchange offers and refinancing involving nearly $1 billion of debt
• Marsico Capital Management, LLC, an investment management firm, in its out-of-court restructuring
• Travelport in its comprehensive out-of-court, cross-border debt restructuring involving $3.8 billion of debt
• Intrawest in its out-of-court cross-border debt restructuring
• a major entertainment company in its out-of-court restructuring

DIP/Lender Representations

• Bank of America:
  • as prepetition and DIP ABL agent in the Sears, VER and Remington bankruptcy cases
  • as prepetition ABL agent in the Toys “R” Us bankruptcy case
• the ad hoc committee of second lien noteholders in the Peabody bankruptcy case
• Barclays as DIP and exit agent in the NewPage/Verso bankruptcy case and as prepetition LC agent in the Patriot Coal II bankruptcy case
• Barclays and Deutsche Bank as exit lenders in the Patriot Coal I bankruptcy case
• Deutsche Bank as exit lender in the Extended Stay bankruptcy cases

Acquisitions

• Amazon in its acquisition of Sizmek’s AdServer business out of bankruptcy
• Third Eye Capital as DIP lender and purchaser of USA Synthetic Fuel Corporation out of bankruptcy
• Deloitte Consulting LLP in its acquisition of the Monitor consulting group out of bankruptcy
• Citibank Financial Products, Inc. in its acquisition of Ameriquest Mortgage Company

Additional Matters

• the National Hockey League in connection with:
  • the bankruptcy cases of Diamond Sports Group and certain of its affiliates
  • the Phoenix Coyotes and Dallas Stars bankruptcy cases
• MacAndrews & Forbes in connection with the bankruptcy cases of Deluxe Entertainment
• Peter Thiel in connection with the Gawker bankruptcy case
• the official committee of equity security holders in the bankruptcy cases of Chemtura Corp. and its affiliates
• Mount Sinai Hospital in the bankruptcy cases of Saint Vincent’s and North General hospitals