Kayalyn A. Marafioti’s corporate restructuring practice encompasses corporate transactions, out-of-court debt restructurings and bankruptcy cases. She counsels creditors, debtors, committees, equity security holders, foreign liquidators, investment banks, trustees and accountants on a wide range of restructuring matters.
Ms. Marafioti has represented numerous companies in Chapter 11 reorganizations, including: Delphi Corporation in its Chapter 11 case; Russell-Stanley Holdings, Inc. in its pre-packaged reorganization case; NTL Incorporated in its prenegotiated Chapter 11 reorganization case; PhyCor, Inc. in its prenegotiated Chapter 11 case; and American Banknote Corporation in its Chapter 11 reorganization. Ms. Marafioti also represented Home Holdings Inc., the holding company of The Home Insurance Company, in its prenegotiated Chapter 11 reorganization case; Wang Laboratories, Inc. in its Chapter 11 case; Lenox Healthcare, Inc. in its Chapter 11 case; and the Chapter 11 trustee of Cardinal Industries Incorporated.
Ms. Marafioti also has represented many creditors and equity holders in reorganization cases, including: TECO Energy, Inc. in the prenegotiated Chapter 11 cases of certain of its subsidiaries; an affiliate of Thomas H. Lee in the Conseco, Inc. Chapter 11 case; West LB AG in the FLAG Telecom Holdings Limited cases; Petrie Stores Liquidating Trust in the Petrie Retail, Inc. cases; Daiwa International Trust Bank Limited in the Toshoku America, Inc. cross-border reorganization case; a consortium of creditors in the Chapter 11 case of The Eli Witt Company; the official creditors’ committee in the Simmons Upholstered Furniture Chapter 11 case; and Royal Bank of Canada in the Henry Birks Jewelers, Inc. and Birks International, Inc. cases.
Ms. Marafioti’s international work has involved the representation of English, Canadian and Bermudian liquidators and trustees in cases ancillary to foreign bankruptcy proceedings. She regularly counsels clients on various issues arising in multinational restructuring and insolvency proceedings.
Ms. Marafioti has advised a number of clients on acquisitions involving troubled companies, including: affiliates of Foot Locker, Inc. in their purchase of assets from Footstar, Inc. and from The Athlete’s Foot Stores, LLC; Dean Foods Company in its acquisition of the assets of a subsidiary of Parmalat USA Corp.; an affiliate of Fortress Investment Group LLC in its purchase of assets from The National Benevolent Association of the Christian Church; United Air Lines, Inc. in its purchase of assets from Pan American World Airways, Inc. and from the Chapter 11 trustee of Eastern Air Lines, Inc.; and Meridian Automotive Systems in its acquisition of Cambridge Industries.
Another aspect of Ms. Marafioti’s practice involves advising corporate clients on the debtor-creditor aspects of leveraged buyouts, recapitalizations, mergers and acquisitions, e-commerce deals, energy, structured and project financings, spinoffs, and derivatives transactions. She has represented a number of major investment banks in debt restructurings, corporate transactions, real estate workouts and reorganizations. In addition, Ms. Marafioti renders debtor-creditor advice on corporate disclosure issues and the purchase and sale of claims against troubled companies.
Ms. Marafioti is a fellow in the American College of Bankruptcy. She is a contributing author to the treatise Chapter 11 Theory and Practice (LRP Publications) and has authored and co-authored numerous educational outlines on bankruptcy-related issues. She frequently serves as a speaker on continuing legal education panels and at seminars on bankruptcy law and related topics. She has been repeatedly selected for inclusion in The Best Lawyers in America.
