Hexion Emerges From Chapter 11

Paul, Weiss represented Hexion Holdings LLC, the world’s leading producer of thermosetting resins, and a leading producer of adhesive and structural resins and coatings, as special financing and securities counsel in the company’s chapter 11 cases. Pursuant to the plan, the company restructured over $3.8 billion of debt, with the proceeds of $1.641 billion in new long-term debt and a $300 million rights offering for new equity, in each case, backstopped by certain of the company’s existing noteholders.

The Paul, Weiss team included, among others, bankruptcy partner Jacob Adlerstein and counsel Sam Lovett; corporate partners Gregory Ezring, David Huntington, Brian Kim, Mark Wlazlo, David Carmona and Brian Finnegan and counsel David Epstein, Elanit Snow and Gabriella Toossi; and tax partners Brad Okun and Brian Grieve.