New Chapter 15 Filing - Tervita Corporation

October 23, 2016 PETITION

Tervita Corporation

10/19/16 Recap: Canadian midstream waste management services provider to the E&P sector files Chapter 15 to help effectuate a debt-for-equity conversion pursuant to a September CBCA filing.
Jurisdiction: S.D. of New York
Capital Structure: CAD $325mm RCF (Toronto-Dominion Bank), $750mm TL (Cortlandt Capital Markets), CAD $200mm 9% '18 secured notes & $650mm 8% '18 secured notes (Wells Fargo), $299mm 9.75% '19 unsecured notes, $355mm 10.875% '18 unsecured notes (Delaware Trust), $308mm 11.875% '18 subordinated notes (Wilmington Savings Fund Society).
Company Professionals:
- Legal: Latham & Watkins LLP (Mark Broude, Annemarie Reilly) & Osler (Mark Wasserman) & Fasken Martineau
- Financial Advisor: Barclays Capital Inc. (George Mack, Gary Sultan, Caty Truei, Darshan Patel, Shamika Dighe)
Other Parties in Interest:
- RCF Agent (The Toronto-Dominion Bank)
  - Legal: Norton Rose Fulbright (Howard Gorman)
- TL Agent (Cortlandt Capital Markets)
  - Legal: Kaye Scholer LLP (Seth Kleinman)
  - Financial Advisor: FTI Consulting (Deryck Helkaa, Dustin Oliver, Craig Munro)
- Secured Creditor Ad Hoc Committee
  - Legal: Goodmans (Robert Chadwick, Chris Armstrong) & Paul Weiss (Andrew Rosenberg, Alice Belisle Eaton, Kevin O'Neill)
  - Financial Advisor: Houlihan Lokey (Devin Shanahan, Michael Lin, Alexander Felsberg)
- Unsecured Noteholder Ad Hoc Committee
  - Legal: Bennett Jones (Kevin Zych, Sean Sweig, Kristopher Hanc, Chris Simard) & David Polk (Damian Schaible, Steven Szanzer)
  - Financial Advisor: Moelis (Barak Klein, Brian Bacal, James Schiro, Conor McGrath, Larry Liao)
- Subordinated Noteholder Ad Hoc Committee
  - Legal: Davies Ward (Jay Swartz, Robin Schwill) & Fried Frank (Gary Kaplan, Cedrick Mendoza-Tolentino)
  - Financial Advisor: PJT Partners (Joshua Abramson, Brian Benvenisty, Mobi Ahmed)
- Wells Fargo as Secured Notes Agent
  - Legal: McCarthy Tetrault LLP (Sean Collins) & Reed Smith LLP (Eric Schaffer, Luke Sizemore)
- Delaware Trust
  - Legal: Cassels Brock (Ryan Jacobs) & Ropes & Gray LLP (Mark Somerstein, Patricia Chen)
- Wilmington Trust
  - Legal: Willkie Farr (John Longmire, Gabriel Brunswick)
- Investors: Paulson & Co., Ares Capital, Angelo Gordon, Avenue Capital, Bain Capital Credit