Firm Also Plays Key Role in 2013 “Health Care/Life Sciences Deal of the Year”
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. was a deal team member recipient of the 2013 “Consumer Services Deal of the Year” Award at the 8th Annual M&A Advisor Turnaround Awards for its work on the restructuring of the debt of the Mashantucket Pequot Tribal Nation (Foxwoods Resort Casino). The annual awards honor “the best of the distressed investing and reorganization industry.” An interdisciplinary group from the firm’s Public Finance and Bankruptcy, Restructuring & Commercial Law sections were instrumental in the success of the award winning deal.
Additionally, Mintz Levin attorneys played an integral role in the acquisition of Westerly Hospital by LMW Healthcare, Inc., which was named the “Health Care/Life Sciences Deal of the Year” by M&A Advisor.
The winners of the 8th Annual M&A Advisor Turnaround Awards were selected by an independent jury of industry experts based on nominations from over 500 companies. M&A Advisor will honor the 2013 recipients at an awards gala on March 11 in Palm Springs, Florida.
In connection with the restructuring of the Mashantucket Pequot Tribal Nation’s debt, Mintz Levin Members Ann-Ellen Hornidge, Paul J. Ricotta, Leonard Weiser-Varon and Miyoko Sato represented the bond trustee and the interests of the holders of a $366 million tranche of subordinated bonds in a $1.9 billion capital structure. In addition to complex intercreditor negotiations, unique issues in the transaction included Native American federal gaming laws, state gaming compacts, and the restructuring of management and investment arrangements of multi-national casino operators.
Throughout the acquisition of Westerly Hospital by LMW Healthcare, Inc., Mintz Levin’s Ian A. Hammel provided counsel to the bond trustee for Westerly Hospital’s revenue bonds, representing the bond trustee and interests of the bondholders in Westerly Hospital’s unique receivership proceedings, court-supervised sale process and ultimate sale of its hospital business and related assets. Mintz Levin negotiated for and obtained payment in full for the bondholders.