Christopher S. Koenig

Since joining Golden Flag, Chris has been involved in the following representations:

• Sientra, Inc. — Representing Sientra, Inc. and three of its subsidiaries (“Sientra”), a surgical aesthetics company with a direct marketing and sales organization, in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. Sientra offers leading transformative treatments and technologies, including the development and sale of breast implants, breast tissue expanders, and fat transfer systems for plastic surgeons, hospitals, and surgery centers. Sientra filed for Chapter 11 with the support of its prepetition lenders through the funding of a $90 million debtor-in-possession financing facility. Sientra is using its Chapter 11 cases to facilitate a sale of substantially all of its assets to maximize value, preserve operations, and to provide continued support to customers.
• Juniper Specialty Products, LLC and SGCE, LLC — Represented EQT Ventures, LLC, a subsidiary of EQT Corporation (the largest producer of natural gas in the United States), in its successful purchase of 42 metric tons of Fischer-Tropsch TL8 catalyst from the Chapter 7 estates of Juniper Specialty Products, LLC and SGCE, LLC. The section 363 sale was approved by the U.S. Bankruptcy Court for the Southern District of Texas.
• Talen Energy Supply, LLC — Represented an ad hoc group of unsecured noteholders (the “Ad Hoc Group”) in the Chapter 11 cases of Talen Energy Supply, LLC and its affiliated debtors (“Talen”) in the United States Bankruptcy Court for the Southern District of Texas. Talen is one of the largest competitive power generation companies in North America, with a generation portfolio consisting of 18 facilities that are collectively capable of producing approximately 13,000 megawatts of power. Talen filed for Chapter 11 relief on May 9, 2022 to restructure its approximately $4.5 billion of funded debt obligations. On May 17, 2023, Talen successfully consummated its Chapter 11 plan of reorganization and emerged from Chapter 11, following a $1.4 billion new-money recapitalization led by the Ad Hoc Group, whereby Talen’s balance sheet was deleveraged by approximately $2.7 billion and the Ad Hoc Group emerged as the new majority equity owners of reorganized Talen.
• Riverbed Technology, Inc. — Represented Riverbed Technology, Inc. and three of its affiliates in their prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. Riverbed is a leading provider of IT optimization products and services, including a suite of best-in-class network visibility, management and performance enhancement solutions to many of the world’s largest organizations. Riverbed commenced its Chapter 11 cases with a fully solicited plan and the support of 100% of its first lien and second lien lenders. Pursuant to the Chapter 11 plan, Riverbed will eliminate approximately $1.1 billion of its funded debt and will receive $100 million in new capital. 
• Seadrill Limited (Second Restructuring) — Represented Seadrill Limited and certain of its direct and indirect subsidiaries in their multi-jurisdictional restructuring of approximately $6.1 billion of funded debt. Seadrill is a leading global provider of offshore contract drilling services and employs nearly 3,100 individuals across 15 countries and five continents. Seadrill's Chapter 11 cases, one of the largest filings of 2021, equitized approximately $4.9 billion of secured debt across twelve silos and facilitated a capital investment of $350 million, enabling Seadrill to continue to operate its modern fleet of drilling units.
• Gulfport Energy Corporation — Represented Gulfport Energy Corporation and its wholly-owned subsidiaries in their prearranged Chapter 11 restructuring in the U.S. Bankruptcy Court for the Southern District of Texas. Gulfport is an independent returns-oriented, gas-weighted exploration and development company and one of the largest producers of natural gas in the contiguous United States, with significant acreage positions in Ohio and Oklahoma. The restructuring eliminated more than $1.2 billion of funded debt obligations, secured $50 million of new capital through a backstopped rights offering and $580 million in new exit financing, and right-sized Gulfport’s go-forward midstream contract obligations, positioning Gulfport as a viable and strengthened enterprise post-emergence.
• Post Acute Medical, LLC — Represented Post-Acute Medical, LLC (“PAM”), as stalking horse bidder and ultimate purchaser of nine long-term acute care hospitals from LifeCare Holdings LLC and its affiliates (“LifeCare”). The sale was approved in LifeCare’s Chapter 11 cases in the Bankruptcy Court for the District of Delaware following an auction. PAM provides post-acute health care services at over 40 long-term acute care hospitals and inpatient rehabilitation hospitals and over 30 outpatient physical therapy locations.
• Rosehill Resources Inc. — Represented second lien noteholders and certain preferred shareholders in the prepackaged Chapter 11 cases of Rosehill Resources Inc. and Rosehill Operating Company, LLC (“Rosehill”). Rosehill is an independent oil and natural gas exploration and production company with assets in the Permian Basin. The prepackaged Chapter 11 plan resulted in the conversion of Rosehill’s new-money DIP financing (which was led by the second lien noteholders and certain other prepetition creditors), prepetition second lien notes and certain prepetition unsecured debt into new common equity in Rosehill.
• 99 Cents Only Stores LLC — Represented certain directors, stockholders and second lien lenders in the out-of-court recapitalization transaction of 99 Cents Only Stores, LLC and its affiliates (“99 Cents”). 99 Cents is a premier deep-discount retailer with over 350 stores in the United States, which carries a broad assortment of name-brand consumable and general merchandise. The recapitalization transaction resulted in the conversion of 100% of 99 Cents’ second lien debt and 92.1% of its third lien debt into new preferred and common equity, as well as a new cash equity investment of $34 million led by certain former third-lien lenders.
• Whiting Petroleum Corporation — Represented Whiting Petroleum Corporation and certain of its affiliates (collectively “Whiting”) in connection with Whiting’s prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Whiting is a Denver-based publicly traded independent exploration and production company with an oil focused asset base, employing approximately 500 employees and with funded debt of approximately $3.4 billion as of the Chapter 11 filing. Whiting entered into a restructuring support agreement with its unsecured noteholders, which contemplated a Chapter 11 plan that would provide 97% of the reorganized equity to noteholders and other holders of general unsecured claims, while still providing a recovery to existing equityholders in the form of the remaining 3% of reorganized equity. Through the deal reached with Whiting’s lenders and noteholders, Whiting will delever its balance sheet by eliminating over $2.7 billion of funded debt.
• Dura Automotive Systems, LLC — Represented Dura Automotive Systems, LLC and certain of its subsidiaries (“Dura”), a leading independent designer and manufacturer of automotive systems, including mechatronic systems, exterior systems, and lightweight structural systems, in their Chapter 11 cases. As of its Chapter 11 filing, Dura and its affiliates had operations in thirteen countries with sales from its three main product segments generating approximately $1.1 billion in 2018.
• Bristow Group Inc. — Represented an ad hoc group of unsecured noteholders (the “Unsecured Ad Hoc Group”) in the Chapter 11 cases of Bristow Group Inc. and its affiliated debtors (collectively, “Bristow”) in the U.S. Bankruptcy Court for the Southern District of Texas. Bristow is a publicly-traded helicopter services company with funded debt obligations exceeding $1.7 billion. Following the filing of Bristow’s cases, Golden Flag assisted the Unsecured Ad Hoc Group in negotiating an amended restructuring support agreement with Bristow and its secured creditors that resulted in a restructuring led by the Unsecured Ad Hoc Group that included a $385 million rights offering and noteholders taking control of the reorganized company.
• Westmoreland Coal Company — Represented Westmoreland Coal Company and certain of its affiliates (collectively, “Westmoreland”) in their Chapter 11 proceedings before the U.S. Bankruptcy Court for the Southern District of Texas. Westmoreland is the sixth largest North American coal producer, maintaining domestic coal operations in Montana, Wyoming, North Dakota, Texas, New Mexico, and Ohio, and Canadian coal operations in Alberta and Saskatchewan, and is headquartered in Englewood, Colorado. At the time the cases were filed, Westmoreland had funded debt obligations of approximately $1.4 billion. Westmoreland is pursuing a sale of its mining operations and commenced its Chapter 11 cases with a restructuring support agreement entered into with a substantial majority of its key lender constituents.

Prior to joining Golden Flag, Chris was involved in the following representations:

• Puerto Rico Urgent Interest Fund Corp. (“COFINA”) — Represented Bettina M. Whyte, as the COFINA Agent, in the title III cases of the Commonwealth of Puerto Rico and its affiliated debtors in the United States District Court for the District of Puerto Rico. The COFINA Agent was appointed to litigate the ownership of approximately $20 billion in sales and use taxes that were pledged to secure bonds issued by COFINA.
• FirstEnergy Solutions Corp. — Represented the independent directors of FirstEnergy Solutions Corp. in its Chapter 11 restructuring in the United States Bankruptcy Court for the Northern District of Ohio. FirstEnergy Solutions owns and operates fossil and nuclear power plants throughout Ohio and Pennsylvania. The independent directors oversaw an investigation of intercompany claims between FirstEnergy Solutions and its non-debtor affiliated companies, which led to a settlement of those claims that included over $1.5 billion in value.
• Caesars Entertainment Operating Co. Inc. — Represented certain second lien lenders in the Chapter 11 cases of Caesars Entertainment Operating Co. Inc. in the United States Bankruptcy Court for the Northern District of Illinois.
• Momentive Performance Materials, Inc. — Represented Momentive Performance Materials, Inc. (“MPM”) and its affiliated debtors in their Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York. MPM is one of the world’s largest producers of silicones and silicone derivatives, and is a global leader in the development and manufacture of products derived from quartz and specialty ceramics. Following a highly contested confirmation process with its senior secured lenders and subordinated noteholders, MPM received court approval of its Chapter 11 plan, which restructured $4.2 billion in funded debt obligations through a debt-to-equity transaction.
• LightSquared Inc. — Represented a holder of first lien debt and potential acquirer of LightSquared Inc. in its Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York. LightSquared is a communications company developing a satellite-terrestrial network. After two hotly contested confirmation hearings, a global settlement was approved that paid holders of first lien debt in full in cash and restructured LightSquared’s obligations that totaled more than $5 billion.