Matthew C. Corcoran (Matt)

Partner

Columbus + 1.614.281.3822

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Matt Corcoran focuses on representing clients around the globe in bankruptcy, transactional, energy, and health care-related disputes. He has substantial experience counseling clients in disputes involving fraudulent conveyance, preference, breach of contract, fiduciary duty, fraud, trust, False Claims Act (FCA), lender liability, Medicare secondary payer, and consumer protection laws claims.

Matt recently obtained a ruling at trial, after expedited discovery, invalidating a $150 million secured claim on the assets of an oil and gas company and then successfully defended that ruling on an expedited appeal in less than a month. He also recently represented the agent on a $1 billion secured credit facility in the bankruptcy of a large mall REIT (real estate investment trust), in which the debtor sued the agent for exercising contractual remedies prepetition. After expedited discovery and litigating the case three quarters of the way through trial, Matt helped the agent obtain a favorable settlement that materially enhanced the recoveries of the holders of the secured credit facility.

Matt's representations include: Peabody Energy, Wells Fargo, The Boeing Company, Nationwide Mutual Insurance Company, LendingTree, Key Bank, JP Morgan, Bank of America, Cardinal Health, Cleveland Clinic, National Century Financial Enterprises, Westmoreland Resource Partners, Nine Point Energy, Black Diamond Mining, Shiloh Industries, First American, the Weir Group, and others.

Matt also counsels clients through FCA investigations. He has shepherded multiple clients through Medicare-related investigations in which the government declined to intervene. Afterward, Matt obtained the dismissal of the relators' claims in many of the qui tam lawsuits that had been filed.

Experience

  • Appliances and housewares company wins appeal challenging bankruptcy planJones Day secured an appellate victory for an appliances and housewares company and its Reorganized Debtor affiliates in the Southern District of Texas.
  • Vintage Wine Estates confirms chapter 11 plan of liquidation following sale of substantially all assetsJones Day represented Vintage Wine Estates, Inc. and 11 of its direct and indirect subsidiaries (collectively, the "Debtors") in their chapter 11 cases in the United States Bankruptcy Court for the District of Delaware (the "Chapter 11 Cases").
  • Jones Day obtains favorable preliminary oral ruling in Wesco/Incora adversary proceeding on behalf of clientOn July 10, 2024, at the conclusion of a six-month trial, United States Bankruptcy Judge Marvin Isgur issued a preliminary oral decision in the Wesco/Incora bondholder adversary litigation in favor of Jones Day’s client.
  • Affiliate of Centre Lane Partners acquires appliance business from Instant BrandsJones Day advised an affiliate of Centre Lane Partners in the acquisition and financing of the appliances business of Instant Brands, designer and distributor of kitchen and home appliances, including the Instant Pot, pursuant to Section 363 of title 11 of the United States Code.
  • Diebold Nixdorf obtains $1.25 billion senior secured exit credit facilityJones Day represented Diebold Nixdorf, Incorporated, a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, in connection with a new $1.25 billion senior secured term loan facility as part of it’s emergence from chapter 11 bankruptcy and other domestic and foreign court-supervised restructuring proceedings.
  • Diebold Nixdorf successfully restructures over $2.7 billion in funded debt and completes the first-ever dual proceeding under the U.S. bankruptcy code and Dutch restructuring law in 71 daysIn the first-ever cross border restructuring involving dual main proceedings under chapter 11 of the U.S. Bankruptcy Code and a scheme of arrangement (the "Dutch Scheme") under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord ("WHOA")), and the first-ever chapter 15 recognition of Dutch Scheme proceedings and a sanctioned WHOA reorganization plan (the "WHOA Plan"), Jones Day represented Diebold Nixdorf, Incorporated ("Diebold") and certain of its U.S. and Canadian subsidiaries (the "Debtors") in connection with (i) the prepackaged chapter 11 cases of In re Diebold Holding Company, LLC, et al., (Case No. 23-90602-DRJ) commenced on June 1, 2023, in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"); (ii) the Dutch Scheme, commenced on June 1, 2023 by Diebold Nixdorf Dutch Holding B.V. (the "Dutch Issuer") in the District Court of Amsterdam (the "Dutch Court"), and (iii) the chapter 15 proceedings before the Bankruptcy Court commenced by the foreign representative of the Dutch Issuer, wherein the Bankruptcy Court recognized the Dutch Scheme proceeding as a foreign main proceeding and recognized and extended comity to the WHOA Plan that was sanctioned by the Dutch Court.
  • Diebold Nixdorf obtains $1.25 billion senior secured superpriority DIP credit facilityJones Day is representing Diebold Nixdorf, Incorporated (the “Company”), a multinational financial and retail technology company that specializes in the sale, manufacture, installation, and service of self-service transaction systems (such as ATMs and currency processing systems), point-of-sale terminals, physical security products, and software and related services for global financial, retail, and commercial markets, and certain of its domestic and foreign subsidiaries (collectively, the “Debtors”) in (i) a pre-packaged chapter 11 proceeding in front of the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”), (ii) a scheme of arrangement by Diebold Nixdorf Dutch Holding B.V. (the “Dutch Issuer”) and the related voluntary proceeding in front of the District Court of Amsterdam under the Dutch Act on Confirmation of Extrajudicial Plans (Wet Homologatie Onderhands Akkoord), and (iii) an anticipated proceeding commenced by the Dutch Issuer under chapter 15 in the Bankruptcy Court, seeking recognition of such scheme of arrangement.
  • Jefferies finalizes $680 million exit credit facilities in connection with acquisition of Forma Brands and its emergence from Chapter 11 bankruptcyJones Day represented Jefferies Finance LLC, as administrative agent and collateral agent, and as the borrowers' controlling equity interest owner, in connection with two bankruptcy exit credit facilities, including a $300 million term loan and a $30 million revolving credit facility provided to Forma Brands, LLC (f.k.a. FB Acquisition LLC), and a $350 million term loan provided to Beauty Brands Acquisition LLC (an indirect parent company of Forma Brands, LLC), each made in connection with the acquisition of the company's assets by Jefferies and other creditors, and the emergence of the company from Chapter 11 Bankruptcy.
  • Jefferies Finance provides $28 million bridge loan facility to Morphe, LLCJones Day represented Jefferies Finance LLC, as administrative agent and collateral agent, in connection with a $28 million bridge loan credit facility provided to Morphe, LLC, a subsidiary of Forma Brands, LLC, a builder of beauty brands anchored in innovative and high-quality products, marketing and operations.
  • ProMedica exits skilled nursing joint ventureJones Day advised ProMedica in the sale of the real estate and management of all of its skilled nursing facilities to joint venture partner, Welltower.
  • Major southeast health system resolves claims brought by commercial insurerJones Day represented a large hospital system in a dispute with one of the major national health insurance providers.
  • Wells Fargo provides Chapter 11 financial reorganization plan for CBL PropertiesJones Day advised Wells Fargo Bank, National Association, as administrative agent, in connection with the Chapter 11 financial reorganization plan of and secured exit financing for CBL Properties (“CBL”), a publicly traded real estate investment trust that owns and manages a portfolio of shopping malls.
  • Nine Point Energy secures trial victory clearing path for successful reorganization through sale of its assetsJones Day is representing an oil and gas exploration and production company, Nine Point Energy, that is the Debtor in a chapter 11 bankruptcy case, leading to the successful ruling from the bench concluding that at least $150 million of the $157 million in liens asserted by Caliber were invalid, thus, clearing the path for the successful reorganization of Nine Point through a sale of its assets.
  • Shiloh Industries sells substantially all of its assets to affiliate of Middleground Capital pursuant to section 363 of Bankruptcy CodeJones Day represented Shiloh Industries, Inc., a major global supplier to OEMs in the automotive and commercial vehicle markets, and 18 of its subsidiaries in their chapter 11 bankruptcy cases, which resulted in the sale of substantially all of the debtors' assets to an affiliate of Middleground Capital.
  • Peabody Energy completes comprehensive exchange transactionJones Day represented Peabody Energy Corporation (the "Company"), a large private-sector coal company, in connection with a series of recapitalization transactions to, among other things, provide the Company with maturity extensions and covenant relief, while allowing it to maintain sufficient operating liquidity and financial flexibility, including: (i) an offer to exchange any and all of its outstanding $459 million aggregate principal amount of 6.000% Senior Secured Notes due 2022 (the "Existing Notes") for (a) new 10.000% Senior Secured Notes due 2024 to be co-issued by PIC AU Holdings LLC, a Delaware limited liability company and an indirect, wholly-owned subsidiary of Peabody ("AU HoldingsCo"), and PIC AU Holdings Corporation, a Delaware corporation and an indirect, wholly-owned subsidiary of Peabody ("AU HoldingsCorp" and, together with AU HoldingsCo, the "Co-Issuers"), and (b) new 8.500% Senior Secured Notes due 2024 to be issued by Peabody; and (ii) a restructuring of the revolving loans under the Company's existing credit agreement (the "Existing Credit Agreement") by (a) making a pay down of revolving loans thereunder in the aggregate amount of $10 million, (b) the co-issuers incurring $206 million of term loans under a credit agreement, dated as of January 29, 2021, (c) the Company entering into a letter of credit facility, and (d) the Company amending the existing credit agreement.
  • Wells Fargo-led syndicate of lenders successfully negotiate secured $1.1 billion restructuring credit facility for Pennsylvania Real Estate Investment Trust (PREIT)Jones Day represented Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, in connection with the Chapter 11 financial reorganization plan of Pennsylvania Real Estate Investment Trust (“PREIT”), a publicly traded real estate investment trust that owns and manages a portfolio of shopping malls totaling over 23 million square feet of retail space.
  • Peabody secures Eighth Circuit victory upholding chapter 11 discharge of global warming claimsThe U.S. Court of Appeals for the Eighth Circuit upheld a bankruptcy court order ordering three California municipalities to dismiss their global warming claims against Jones Day client Peabody Energy Corporation because those claims were discharged by Peabody's successful chapter 11 plan of reorganization.
  • Westmoreland chapter 11 plan confirmedJones Day represented Westmoreland Resource Partners LP (WMLP) and its debtor-subsidiaries (the WMLP Debtors) and the Conflicts Committee in their chapter 11 cases commenced on October 9, 2018, in the Southern District of Texas.
  • Hospital system conducts investigation of circumstances leading to criminal prosecution of employeeJones Day was retained by a multi-state health care system to conduct an investigation and advise the board regarding the practices of hospital staff and leadership regarding a sensitive issue that resulted in a criminal prosecution of an individual who worked at the hospital.
  • Insurance company obtains dismissal in putative class actions asserting Medicare secondary payer claimsJones Day obtained dismissals on behalf of an insurance company in two related putative class actions brought in the Southern District of Ohio alleging liability under the Medicare Secondary Payer provision of the Medicare Act.
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    January 2022 Newsletters

    Delaware Court Holds Rejection Eliminates Non-Debtor's Exclusive Right to Provide Services to the Debtor

    January 2022 Newsletters

    Business Restructuring Review | Vol. 21 No. 1 | January–February 2022

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