Nicholas J. Morin (Nick)

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New York + 1.212.326.3443

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Nick Morin represents companies and their lenders in connection with liability management exercises (LMEs) and in-court and out-of-court debt restructurings, including in the broadly syndicated and private credit contexts. Nick is a frequent speaker on LMEs, and he has been quoted in various news publications (including The Wall Street Journal Pro and Bloomberg Law) on developments in the LME space.

Nick has worked on stressed financings, amend-and-extends, stressed acquisitions, out-of-court recapitalizations, and other chapter 11 and stress-related matters. Nick is a member of Jones Day's LME committee and has particular experience in evaluating LME risks/opportunities and effectuating LME strategies.

Nick has represented lenders and creditor groups in various in-court and out-of-court situations. Nick's in-court creditor group representations include: Multi-Color ($6 billion restructured), Intelsat ($15 billion restructured), Syncreon ($1 billion restructured), Sungard AS ($1.2 billion restructured), David's Bridal ($800 million restructured), and Bon-Ton ($125 million credit bid).

In addition, Nick has represented many companies and sponsors in connection with in-court and out-of-court transactions. Nick's in-court company representations include: Diebold Nixdorf ($2.7 billion restructured), Peabody Energy ($8 billion restructured), M&G USA Corporation ($1 billion sale), and Rex Energy ($600 million sale).

Nick has received multiple awards and distinctions throughout his career, including "Restructuring Deal of the Year (Over $1B)" from the International M&A Awards for his novel work in the Diebold Nixdorf restructuring. Nick also has been recognized in Best Lawyers in America, "Ones to Watch" for 2023 and 2024.

Experience

  • Blackstone Real Estate Debt Strategies provides $195 million term loan facility secured by residential property in Florida; engages in successful post-maturity resolution involving borrower bankruptcy proceeding and asset sale resulting in payoff in fullJones Day represented an affiliate of Blackstone Real Estate Debt Strategies in connection with an $195 million term loan secured by a multi-family residential property in Boca Raton, Florida, including origination of a $195 million real estate secured facility in 2021 and then the ultimate successful resolution in 2025 of the debt through a UCC foreclosure proceeding, which led to a contested borrower bankruptcy proceeding and ultimately a court mandated asset sale resulting in full repayment of the loan, and all accrued default interest and expenses.
  • Diocese of Rockville Centre successfully restructures mass tort liabilitiesIn order to resolve hundreds of Child Victims Act lawsuits alleging sexual abuse, the Diocese of Rockville Centre commenced chapter 11 to seek protection for itself, its parishes, and schools, as well as providing equitable compensation for the hundreds of claimants, while maximizing their substantial insurance assets.
  • PHINIA Inc. completes $525 million Senior Secured Notes offering and amends credit agreementJones Day represented PHINIA Inc. in connection with (i) a Rule 144A and Regulation S offering of $525 million aggregate principal amount of 6.75% Senior Secured Notes due 2029 and (ii) an amendment to the credit agreement that governs the company's existing credit facilities to modify certain covenants, remove the mandatory prepayment provision based on quarterly and annual operating cash flow calculations, and increase the required total net leverage ratio under the company's financial covenant.
  • Diebold Nixdorf obtains $200 million super-priority senior secured revolving 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, and certain of its domestic subsidiaries in obtaining a $200 million super-priority senior secured revolving credit facility.
  • 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.
  • Intelsat closes $6.7 billion DIP-to-exit financing transactionsOn May 13, 2020, Intelsat S.A. and certain of its direct and indirect subsidiaries (the “Intelsat Parties”) filed voluntary petitions with the U.S. Bankruptcy Court for the Eastern District of Virginia commencing their respective cases under Chapter 11 of the Bankruptcy Code.
  • OmniMax sells company to SVPGlobalJones Day advised OmniMax International, Inc., the leading national manufacturer of residential roof drainage systems and a top supplier of products for outdoor living, recreational vehicle, and other building end markets, in its acquisition by Strategic Value Partners, LLC and its affiliates ("SVPGlobal").
  • Members of Intelsat Jackson Crossover Group to own 96% of reorganized Intelsat equity following complex chapter 11 plan confirmation processJones Day represents the largest creditor constituency (the "Jackson Crossover Group") holding more than 47% ($7 billion) of the debtors' entire funded debt in the highly complex chapter 11 cases of In re Intelsat S.A., et al. (Case No. 20-32299-KLP), pending in the Eastern District of Virginia bankruptcy court (the "Bankruptcy Court").
  • Jefferies acts as agent for an incremental facility and credit agreement for Internap CorporationJones Day represented Jefferies LLC, as agent, in connection with a $5 million incremental facility and 8th amendment to its credit agreement for Internap Corporation, a global supplier of IT infrastructure services.
  • Ad hoc group of senior secured lenders advised in landmark restructuring of the syncreon groupJones Day acted for the ad hoc group of senior secured lenders in the landmark restructuring of the global logistics syncreon group which was implemented via English Schemes of arrangement, with chapter 15 recognition in the U.S. and CCAA recognition in Canada.
  • OGE Energy acquires 146 MW combined cycle natural gas-fired power generation facilityJones Day advised Oklahoma Gas and Electric Company, a subsidiary of OGE Energy Corp., in the purchase of a 146 MW combined cycle natural gas-fired power generation facility from Oklahoma Cogeneration, LLC in Oklahoma City, and subsequently renamed it Frontier Power Plant.
  • OGE Energy acquires 360 MW coal-fired generation facilityJones Day advised Oklahoma Gas and Electric Company, a subsidiary of OGE Energy Corp., in the purchase of a 360 MW coal-fired generation facility and associated equipment from AES Shady Point, LLC, now known as River Valley Power Plant.
  • Sungard AS secured term loan lenders receive $300 million of secured debt and 89% of equity in fast-tracked two-day chapter 11 caseJones Day represented a group of secured term loan lenders of Sungard Availability Services ("Sungard AS"), a leading provider of critical data recovery and production services and related integrated solutions, in connection with its prepackaged chapter 11 case filed in the U.S. Bankruptcy Court for the Southern District of New York.
  • Zeavion Holding Pte. Ltd. contract assumed in Gymboree bankruptcyJones Day successfully represented Zeavion Holding Pte. Ltd., a significant trademark license holder, in connection with, among other things, the assumption and assignment of a significant trademark license and ancillary agreement from Gymboree to The Children's Place in connection with Gymboree's section 363 sale of substantially all of certain Gymboree assets to The Children's Place.
  • Rex Energy successfully closes $600.5 million 363 asset sale and confirms plan of liquidation with releases and exculpation provisionsA multi-disciplinary Jones Day team represented Rex Energy Corporation in the negotiation of a Restructuring Support Agreement ("RSA") with its first and second lien creditors that formed the foundation for a successful chapter 11 process.
  • 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.
  • Peabody Energy successful in defense of Patriot Coal's claimJones Day represented Peabody Energy Corporation ("PEC") when Patriot Coal revisited bankruptcy on May 12, 2015, having filed for chapter 11 protection in the Eastern District of Virginia with $2 billion in assets against $2.4 billion in debt (collectively, "Patriot 2").
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