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GSE Environmental

The firm serves as bankruptcy cocounsel in the representation of GSE Environmental, the leading global manufacturer and marketer of geosynthetic lining solutions, in its prearranged chapter 11 cases. Prior to filing, GSE reached agreement with its secured lenders on a financial restructuring plan that would equitize approximately $170 million in funded debt and provide additional capital for GSE on a going forward basis. GSE’s plan, which was confirmed less than 3 months after GSE filed its chapter 11 cases, provided payment in full for the company’s trade vendors that agreed to return to market trade terms and provided a meaningful recovery to its remaining unsecured creditors.