Joshua K.Brody (Josh)

Partner

(T) 1.212.326.3468

Josh Brody represents clients in complex chapter 11 bankruptcy cases and other distressed situations, helping companies navigate successful restructurings, both through the confirmation of a chapter 11 plan and through Section 363 asset sales. Josh represents a diverse range of creditors at all levels of complex structures, including secured and unsecured, bondholders and bank debtholders, indenture trustees, creditors' committees, and trade creditors. His work involves negotiating and litigating plans of reorganization to complex claims litigation and debtor-in-possession financing.

Josh also advises hedge funds and other financial institutions on the rights and remedies of debtholders and in understanding elaborate corporate and capital structures.

Josh's numerous representations prior to joining Jones Day in 2019 include: an ad hoc group of bondholders of FirstEnergy Solutions Corp.; Computershare, as indenture trustee for approximately $2.156 billion of second lien notes issued by Energy Future Intermediate Holding Co., as well as an ad hoc group of second lien noteholders in their claims against EFH, the parent company of the largest generator, distributor, and certified retail provider of electricity in Texas; First Mariner Bancorp, the bank holding company for the largest independent bank in Baltimore in its chapter 11 case; Molecular Insight Pharmaceuticals, a clinical-stage biopharmaceutical company in its chapter 11 case; and Bally Total Fitness Holding, one of the largest fitness club operators in the United States in its chapter 11 case.

Experience

  • Monitronics term lender group participates in comprehensive restructuring and extension of DIP financing for Monitronics International, Inc.Jones Day is representing a group of lenders holding approximately $1 billion of secured term loans issued by Monitronics International, Inc., which, together with its affiliates, filed partially prepackaged chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas on June 30, 2019.
  • The following represents experience acquired prior to joining Jones Day.

    Creditor Representations

    Represented an ad hoc group of bondholders holding more than 75 percent of FirstEnergy Solutions Corp.'s pollution control bonds.

    Represented an ad hoc group that held the majority of Molycorp's secured bonds.

    Represented an ad hoc group of "land bank" claimants in the TOUSA (homebuilders) chapter 11 case.

    Represented the official committee of unsecured creditors of Hostess Brands, one of the largest wholesale bakers in the United States and distributors of the iconic bread and snack cakes.

    Represented the official committee of unsecured creditors of WP Steel Ventures, which was the fourth-largest flat-rolled steel facility in the United States.

    Represented the official committees of unsecured creditors of Capmark Financial Group and of Magna Entertainment.

    Represented a member of the secured lender steering committee in the bankruptcy of South Edge LLC.

    Represented NY MTA in out-of-court restructuring of Titan Worldwide.

    Represented the ad hoc bondholders committee in the chapter 11 case of Sea Containers.

    Represented Credit Suisse as first lien agent in the prepackaged chapter 11 case of Recycled Paper Greetings.

    Represented the majority bondholders in the prepackaged Canadian restructuring of Ainsworth Lumber.

    Represented the second lien bondholders in the out-of-court restructuring of Calpine Construction Finance.

    Represented the sub-debt holder in the out-of-court restructuring of Credit-Based Asset Servicing and Securitization (C-BASS) (subprime mortgage lender).

    Represented the bondholders in the out-of-court restructuring of DOV Pharmaceutical.

    Represented the bond insurer in the chapter 11 case of Entergy New Orleans.

    Debtor Representations

    Represented the following in their chapter 11 cases:

    First Mariner Bancorp, bank holding company.

    Molecular Insight Pharmaceuticals, drug development company.

    Bally Total Fitness, fitness center operator.

    Global Crossing, builder/operator of an international fiber-optic network.

    Torch Offshore, offshore construction/pipe laying company.

    Parmalat USA, milk processor.

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