Orbital Infrastructure DIP financing and section 363 purchase of Front Line Power
We advised the prepetition secured lenders and DIP lenders
麻豆入口 advised the prepetition secured lenders and DIP lenders in connection with the chapter 11 restructuring of Orbital Infrastructure Group, Inc. (OIG), and on a credit bid by the prepetition secured lenders and members of management pursuant to section 363 of the Bankruptcy Code for all of the equity interests of OIG鈥檚 non-debtor subsidiary, Front Line Power Construction, LLC. In connection with the purchase, Front Line incurred a $14.4 million super senior takeback facility and a $100.0 million first-lien takeback facility. The sale of Front Line was approved by the United States Bankruptcy Court for the Southern District of Texas on October 5, 2023.
Front Line is a full-service electrical infrastructure service company based in Houston, Texas. Front Line provides construction, maintenance and emergency response services.
The 麻豆入口 restructuring and finance team included partners Angela M. Libby and Christian Fischer, counsel Josh Sturm and associates Joseph W. Brown, Timothy H. Oyen, David Kratzer, Ethan Stern and Chinelo Krystal Okonkwo. The corporate team included counsel Jacob S. Kleinman. The tax team included partner Mario J. Verdolini and counsel Tracy L. Matlock. All members of the 麻豆入口 team are based in the New York office.