In a Chapter 11 case involving public securities, it is critical not only to understand the corporate restructuring process, but also to allow established procedures that financial institutions follow in communicating to underlying beneficial holders. Led by the industry’s foremost experts, KCC’s team has more than 25 years of domestic and international public-securities experience.
For companies undergoing Chapter 11 restructurings that involve publicly traded securities, KCC can facilitate:
Pre-Filing Preparation: Research the debtor’s holdings and oversee the complex process of identifying bondholders holding U.S. and/or international securities.
Noticing: In conjunction with first-day noticing and throughout the case, provide notices to public-securities holders on key events and developments.
Solicitation & Balloting: With expertise in Street Name registration and various voting practices, we administer the solicitation and balloting of public-securities holders when voting on a Plan of Reorganization, or Completing Plans, or Pre-Packaged Plans and/or when Plans call for Special Treatment Elections/Convenience Class Elections.
Rights Offerings: As an approved agent with DTC’s Automated Tender Offer Program (ATOP) and Automated Subscription Offer Program (ASOP), we facilitate tender/exchange offers and rights offerings.
Roll-Up Transactions: Our professionals offer guidance in creating and setting up the appropriate mechanics required by financial institutions to meet the needs of the case. In addition, we provide communication strategies that reach every layer of ownership ensuring the roll-up transaction is completed in a timely manner.
Distributions: Restricted & DTC Eligible Securities - Whether the registration and issuance of restricted securities can or cannot be held through DTC, we coordinate with the Transfer Agent, Trustees and DTC to ensure the process runs smoothly.