Scott D. Talmadge is a Partner in the Bankruptcy & Restructuring Department. He has practiced in the areas of bankruptcy, finance and commercial litigation for more than 25 years. Scott is recognized in New York by Chambers USA 2015 for Bankruptcy/Restructuring.
Scott focuses on creditors’ rights, commercial litigation and secured and unsecured lending transactions, with particular emphasis on restructuring and bankruptcy issues. He has represented creditors in both state and federal court proceedings, including actions to collect outstanding debt, enforce and foreclose upon collateral, and to seize collateral at the outset of a proceeding. Scott has represented syndicate agents, ad hoc lender groups and individual lenders in secured and unsecured transactions, participants in leveraged lease structures, commercial landlords, official creditors’ committees and Chapter 7 trustees.
Scott has been involved in matters encompassing a broad range of industries including aviation, energy, insurance, various manufacturers, media companies, national retailers, apparel companies, motion picture theatre chains, telecom companies, cable companies and commercial real estate property.
- Ad hoc group of term lenders in the restructuring of a US$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.
- 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.
- Administrative agent for the ABL lenders in the RadioShack Chapter 11 case involving the sale of the collateral, payment in full to the ABL lenders and ensuing intercreditor litigation.
- Syndicate agent and steering committee in the consensual restructuring of a US$795 million credit facility extended to a global outsourcing and data management company. Following the restructuring, the entity was de-leveraged by approximately US$500 million.
- Syndicate agent and steering committee in the restructuring and ultimate payment in full of a US$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.
- Multiple financial institutions with over 80 aircraft in leveraged lease transactions and secured loans to American Airlines in the AMR Corporation Chapter 11 case.
- Controlling holder of CMBS trust certificates in the Extended Stay Hotel Chapter 11 case.
- Administrative agent and steering committee in the restructuring of US$825 million of first and second lien loans extended to Natural Products Group (NPG). 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.
- Administrative agent for a syndicate of lenders in the American Home Mortgage Chapter 11 case.
- Administrative agent and lender in the Adelphia Communications Chapter 11 case and related litigation.
- Major financial institution with over US$1 billion of exposure in the Enron Corp. Chapter 11 case and in related litigation.
In The Market
- Best Lawyers 2017 Recognizes 41 Kaye Scholer Lawyers August 15, 2016 • Recognitions
- Talmadge Interviewed by The Deal on Unitranche Debt November 13, 2015 • Media Mentions
- Kaye Scholer Successfully Represents Majority Lenders in Defeating TRO for Arch Coal Debt Swap October 22, 2015 • Client Successes