Representative Creditor Representation Engagement

AEG was engaged by the bondholders of a 100+ year old steel company in Illinois. The mill, which had historical volumes of up to $400 million, had defaulted under its credit agreements and faced severe liquidity pressure due to a depressed market.

AEG evaluated the standing, priorities, and rights of the bondholders, performed an assessment of potential operating improvements in the business, and reviewed alternatives available to the creditors. We recommended a course of action to protect the unsecured creditors' position prior to and after the Chapter 11 filing.

AEG was subsequently engaged by the Official Committee of Unsecured Creditors as financial advisor during the Chapter 11 wind-down phase of operations. AEG developed and managed the Section 363 sale process and completed the sale of all of the company's assets.