Mark A.Cody

Partner

(T) 1.312.269.4392

Mark Cody has over 20 years of experience representing clients in corporate bankruptcy, restructuring, distressed situations, and other insolvency-related matters. He has advised debtors, lenders, large creditors, official creditors' committees, distressed investors, and other parties in large in-court and out-of-court corporate restructurings across the country in a variety of industries, including retail, automotive, energy, and coal. Further, he has significant experience counseling clients in distressed acquisitions, loan workouts, cross-border insolvencies, and corporate governance and fiduciary duty matters.

Notable chapter 11 debtor representations include: Chrysler, FLYi/Independence Air, General Wireless Operations (d.b.a. RadioShack), Harry & David, Imperial Home Decor, Laidlaw, Loewen Group (n.k.a. Alderwoods Group), Metaldyne, Montgomery Ward, National Century Financial Enterprises, NationsRent, Peabody Energy, Performance Transportation Services, Purina Mills, Slater Steel, and USG.

Other representations include Vari-Form Group in connection with its out-of-court distressed asset sales and the insolvency proceedings of its Canadian affiliate, the administrative agent in the out-of-court restructuring of Network Communications; a large creditor in the chapter 9 municipal bankruptcy case of Jefferson County, Alabama; the official creditors' committees in the chapter 11 cases of Mercury Finance and MobileMedia Communications; International Textile Group in the chapter 11 cases of subsidiary Global Safety Textiles; a large creditor in the chapter 11 cases of Calpine Corporation; and Oncor in the chapter 11 cases of its ultimate parent, Energy Future Holdings Corp. and certain affiliates.

Mark is a member of the American Bankruptcy Institute, Turnaround Management Association, Illinois State Bar Association, Chicago Bar Association, and the Dartmouth Club of Chicago. Since graduation, Mark has been a class agent for the Dartmouth College Fund.

Experience

  • Koch Methanol invests in YCI Methanol One and its $1.85 billion methanol production facilityJones Day advised Koch Methanol, LLC, a subsidiary of Koch Industries, in its minority equity investment in YCI Methanol One, LLC, an indirect subsidiary of Yuhuang Chemical Industries, Inc. and its parent company Shandong Yuhuang Chemical Company, Ltd.
  • Follett Higher Education Group and Nebraska Book Company form strategic sourcing partnershipJones Day advised Follett Higher Education Group ("FHEG") in connection with a strategic sourcing partnership between FHEG and Nebraska Book Holdings, Inc. involving wholesale higher education course materials.
  • PAG invests in Key Safety Systems to finance acquisition of global assets of Takata CorporationJones Day represented PAG Asia Capital Ltd. and PAG Asia II LP in connection with its investment in Key Safety Systems, a subsidiary of China-based Ningbo Joyson Electronic Corporation, to finance the acquisition of substantially all of the global assets of Takata Corporation out of bankruptcy in the U.S. and Japan and certain non-bankruptcy transactions elsewhere in the world.
  • Sempra Energy acquires indirect interest in Oncor Electric, valuing Oncor Electric at $18.8 billion in enterprise valueJones Day advised Oncor Electric Delivery Company LLC in its $18.8 billion total enterprise value disposition of Oncor Electric Delivery Company ("Oncor") under which a newly formed subsidiary of Sempra Energy acquired 100 percent of the equity of reorganized Energy Future Holdings Corp. (“EFH”), and certain of its direct and indirect subsidiaries, including EFH’s approximately 80 percent indirect interest in Oncor.
  • Peabody Energy exits chapter 11 in less than a yearFacing unprecedented industry conditions in late 2015 and early 2016, Peabody Energy Corporation, the world's largest private-sector coal company, and 153 of its direct and indirect subsidiaries filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Missouri on April 13, 2016.
  • Peabody Energy completes $1 billion offering of Senior Secured NotesJones Day represented Peabody Energy Corporation (PEC), a large private-sector coal company, in connection with a Rule 144A offering of $1.0 billion aggregate principal amount of Senior Secured Notes, consisting of $500 million of 6.000% Senior Secured Notes due 2022 and $500 million of 6.375% Senior Secured Notes due 2025.
  • Follett acquires Nebraska Book Company's retail store divisionJones Day advised Follett Corporation in the acquisition of Neebo, Nebraska Book Company's retail store division, which includes on-campus and off-campus stores, and correlating assets and inventory owned or leased by Neebo.
  • Stanley Black & Decker and RF Controls form joint venture targeting passive RFID marketJones Day advised Stanley Black & Decker in its formation of View Technologies, LLC, a joint venture with RF Controls, LLC, to develop, market, and distribute radio frequency identification (RFID) tracking technology and related software.
  • Oncor Electric Delivery Company shielded from Energy Future Holding's chapter 11 bankruptcyJones Day represents Oncor Electric Delivery Company, a ring-fenced publicly regulated electric transmission and distribution company operating in the State of Texas.
  • HSBC Bank serves on TOUSA creditors' committeeJones Day represented HSBC Bank USA, National Association in its capacity as indenture trustee with respect to certain series of senior subordinated notes issued by TOUSA, Inc. and certain of its affiliates.
  • Lehman Brothers bankruptcy estate obtains advice in connection with potential litigation concerning derivative transactionsJones Day represents Lehman Brothers Holdings Inc. and its affiliated debtors and debtors-in-possession in the chapter 11 bankruptcy proceedings before the United States Bankruptcy Court.
  • Jefferson County, Alabama files largest municipal bankruptcyJones Day represents National Public Finance Guarantee Corporation ("National") with respect to the enforcement and protection of National's rights and remedies in connection with the November 2011 chapter 9 municipal bankruptcy filing by Jefferson County, Alabama.
  • Harry & David negotiates pre-arranged bankruptcy planJones Day represented Harry & David Holdings, Inc. and its affiliates in their chapter 11 cases filed in the District of Delaware.
  • Leading financial services company provides loan facility to local media company in connection with out-of-court restructuringJones Day represented a leading financial services company as administrative agent for a syndicate of lenders owed approximately $75 million under term loan and revolving loan facilities in connection with the out-of-court workout of a leading local media company providing lead generation, advertising, and internet marketing services to the housing industry.
  • SCANA settles with Calpine on certain gas and electric claimsJones Day represented SCANA Corporation and certain of its affiliates in connection with the settlement of various claims against certain debtors in the Calpine Corporation chapter 11 cases.
  • Chrysler sold to Fiat-led "New Chrysler" after historic court proceedingsAfter a historic battle all the way to the United States Supreme Court, Chrysler LLC sold substantially all of its assets to Fiat-led "New Chrysler" (Chrysler Group LLC) on June 10, 2009, providing the opportunity for its iconic brands and U.S. operations to survive.
  • Metaldyne files for bankruptcy protectionJones Day represented Metaldyne Corporation -- one of the top 50 North American auto parts suppliers with over $1 billion in sales -- and its subsidiaries in an out-of-court tender offer transaction pursuant to which over $350 million in long term debt was extinguished.
  • ITG subsidiaries file chapter 11Jones Day represented International Textile Group, Inc. ("ITG"), a global diversified textile manufacturer headquartered in Greensboro, North Carolina, in connection with the chapter 11 cases of Global Safety Textiles Holdings LLC and its direct and indirect U.S. subsidiaries (the "GST Debtors").
  • Metaldyne completes $65 million tender offer to purchase outstanding 10% Senior Notes and 11% Senior Subordinated NotesJones Day advised Metaldyne Corporation, a leading designer and producer of engine, driveline, and chassis products, in connection with its $65 million offer to purchase for cash any and all outstanding 10% Senior Notes due 2013 and 11% Senior Subordinated Notes due 2012.
  • Board of Performance Transportation Services, second largest U.S. automobile hauler, reviews fiduciary duties to creditors and other constituents, stalking horse bids, and governance issues related to bankruptcy filingsJones Day represented Performance Transportation Services, the nations' second largest hauler of new vehicles to dealerships, with over $185 million in secured indebtedness in its chapter 11 cases, including an attempted sale pursuant to section 363 of the bankruptcy code.
  • Speaking Engagements

    • June 6, 2019
      Recent Developments in Distressed Lender-Side Representations, MCLE University
    • February 25, 2015
      Emerging Affiliation and Capital Support Models for Distressed Hospitals, Jones Day / Kaufman Hall Webinar
    • January 21, 2015
      Identifying and Evaluating the Drivers of Hospitals Experiencing Financial Distress
    • December 2, 2013
      Municipal Chapter 9s - What Have We Learned So far?, Beard Group 2013 Distressed Investing Conference
    • June 7, 2013
      Real Estate Distress: Workout Options in Real Estate, 29th Annual Bankruptcy and Restructuring Conference for the Association of Insolvency and Restructuring Advisors
    • October 17, 2012
      Bankruptcy Remote Structures, National Association of Real Estate Investment Managers (NAREIM)/2012 Legal & Compliance Council Meeting
    • November 7, 2011
      ABI Canadian/American Cross- Border Insolvency Symposium
    We use cookies to deliver our online services. Details of the cookies and other tracking technologies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you consent to our use of cookies.