Kelley Drye Completes Representation of Exit Lenders in Dan River Bankruptcy
June 10, 2005
The Corporate and Bankruptcy Departments joined forces to represent a committee of noteholders that provided $20 million in exit financing to Dan River, Inc., a textile manufacturing concern based outside of Atlanta, Georgia. In addition to the debt financing, the noteholders received a significant equity stake in the reorganized company. The exit financing permitted Dan River to emerge from protracted chapter 11 bankruptcy proceedings earlier this year. The team also represented the noteholders committee in connection with debtor in possession financing issues during the bankruptcy.