GST AutoLeather

Representation of GST Autoleather and its affiliates as co-counsel in their chapter 11 cases in the District of Delaware. The company, now called Pangea, is a leading global designer and manufacturer of automotive leather components with operations in North America, China, South Korea, Europe, and South Africa. The company obtained a $40 million debtor-in-possession financing commitment, which was used to fund ongoing operations while pursuing a going-concern sale. A successful sale process resulted in the purchase of substantially all of the company’s assets after an auction for $166.9 million. The bankruptcy court approved the sale in February 2018. After the sale, the firm successfully obtained court approval of the company’s joint disclosure statement and liquidating plan.