Bank of America negotiates postpetition financing for AWI
Clients Bank of America, N.A.
Jones Day advised Bank of America in connection with the chapter 11 cases of AWI Delaware, Inc. (n/k/a ADI Liquidation, Inc.). Prior to the sale of substantially all of their assets, AWI and its affiliates were a leading independent food wholesaler and distributor serving the greater New York area. As part of its representation, Jones Day successfully negotiated postpetition financing that included AWI’s stalking horse bidder as a last-out participant. The postpetition financing ultimately allowed AWI to sell its assets for approximately $85 million in excess of the stalking horse bid.