Mark Liscio is Co-Chair of Kaye Scholer’s Bankruptcy & Restructuring Department. For over 25 years, Mark has represented global asset managers, lender steering committees, syndicate agents, buy-side investors, credit investors and private equity firms in complex debt restructurings and insolvency proceedings in a broad range of matters and industries, including energy, mining and financial services. He has negotiated and structured numerous debt-for-equity conversions on behalf of debt investor clients which were implemented through pre-packaged and pre-arranged plans of reorganization.
- Representing an ad hoc group of term lenders in the restructuring of a $2.1 billion credit facility extended to Arch Coal, Inc. Kaye Scholer devised a strategy to oppose an exchange offer proposed by Arch Coal with its senior noteholders that would have resulted in significant dilution of the term lenders’ position. The company and the term lenders subsequently entered into a plan support agreement and the company commenced a Chapter 11 proceeding.
- Representing the term lenders and syndicate agent in Paragon Offshore, Inc. in a Chapter 11 proceeding. The term lenders are actively opposing confirmation of the debtors’ plan of reorganization.
- Represented the syndicate agent and steering committee in the restructuring and ultimate payment in full of a $555 million credit facility extended to Preferred Proppants, LLC, a North American mining company. The case was recognized by Turnaround & Workouts as a 2014 Top Restructuring.
- Represented the syndicate agent and steering committee in the consensual restructuring of a $795 million credit facility extended to a global outsourcing and data management company. Following the restructuring, the entity was de-leveraged by approximately $500 million.
- Represented the administrative agent and steering committee in the out-of-court restructuring and debt-for-equity conversion of a distressed global defense contractor.
- Represented the administrative agent and steering committee in the restructuring of $825 million of first and second lien loans extended to Natural Products Group. Through a pre-packaged bankruptcy, the first lien pre-petition lenders acquired a majority of the equity of the reorganized entity. NPG was voted Restructuring Deal of the Year (Large Middle Market) in 2011.
- Represented the administrative agent in the restructuring and reorganization of U.S. Shipping, a Jones Act coastal shipping company, through a pre-arranged plan of reorganization. Kaye Scholer developed a novel ownership structure that allowed U.S.-based nonresident investment funds to comply with the Jones Act U.S. citizenship requirement, thereby facilitating a successful debt-for-equity conversion.
- Representing a lender in connection with approximately $90 million in loans extended to a prominent New York-based for-profit educational institution.
Mark is also active in middle-market workouts and insolvencies, and has represented ABL lenders in dozens of matters throughout his career.
Chambers has ranked Mark as a leading practitioner since 2008, and in Chambers USA’s 2015 edition, Mark is recognized as a leading practitioner in Bankruptcy & Restructuring — where he is described as being “very level headed and very good in strategy for his client.” Mark is also recognized by Best Lawyers for his work in bankruptcy, creditor/debtor rights, and insolvency and reorganization law.
In The Market
- Liscio Featured in Debtwire on 2016 Bankruptcy & Restructuring Sector Outlook January 12, 2016 • Media Mentions
- Kaye Scholer Successfully Represents Majority Lenders in Defeating TRO for Arch Coal Debt Swap October 22, 2015 • Client Successes
- Best Lawyers 2016 Recognizes 45 Kaye Scholer Lawyers August 17, 2015 • Recognitions