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M&G USA

The firm is chapter 11 co-counsel to M&G USA Corporation and its affiliates, one of the largest producers of polyethylene terephthalate resin for packaging applications in the world. The company filed for bankruptcy with outstanding debt in the aggregate principal amount of nearly $1.7 billion. M&G obtained a $100 million debtor-in-possession financing commitment, which is being used to fund a sale of the company’s assets. The sale process is currently ongoing.