Educational nonprofit restructures debt and achieves workouts with its lender and major creditors
Client(s) Virginia-based educational organization
Jones Day successfully assisted pro bono a Virginia-based 501(c)(3) educational organization in restructuring its balance sheet, negotiating and documenting new financing, facilitating settlements with major secured and unsecured creditors, navigating non-profit governance issues, addressing real estate concerns, and resolving labor and employment issues. The organization faced significant financial and operational challenges that required thorough legal and strategic support over the course of the last twelve months. Jones Day’s cross-practice and cross-office teams worked closely with the organization to achieve workouts with its lender and major creditors that stabilized its finances, ensured compliance with regulatory requirements, and enabled the organization to better focus on its educational mission. The Firm also helped with new financing that facilitated the creditor workouts and provided liquidity to continue operations. Additionally, Jones Day provided guidance on non-profit governance reforms to enhance the organization’s operational efficiency and ensure compliance with applicable non-profit laws. The Firm also addressed complex real estate issues, ensuring that the organization's property assets were managed effectively. The Firm’s seamless and collaborative approach provided the organization with much-needed pro bono services without which the organization’s future was in serious jeopardy.
