Two Fox Rothschild Transactions Win M&A Advisor Awards

November 23, 2015 – Press Releases

Fox Rothschild LLP is pleased to announce that two transactions handled by the firm’s corporate and bankruptcy attorneys received 2015 M&A Advisor Awards at the 14th Annual M&A Advisor Awards Gala, held on November 17.

The event honored professionals whose activities set the standard for M&A transactions. This year, more than 280 nominees, representing more than 690 companies, became finalists for the awards. An independent judging committee of 25 top M&A industry professionals determined the ultimate recipients of the awards.

Fox was honored with the Real Estate Deal of the Year Award for its work on the purchase of Veris Gold USA Inc. assets by Whitebox Advisors LLC (WBOX 2014-1 Ltd.).

The firm also earned M&A Deal of the Year for transactions valued between $10 and $25 million for its legal representation connected to the acquisition of Nelson Pipeline by Navigator Partners and Beirne Pipeline Holdings partnered with Axis Private Equity.

Deal Details

Purchase of Veris Gold USA Inc. assets by Whitebox Advisors LLC (WBOX 2014-1 Ltd.)

The team of Fox Rothschild attorneys - Brett Axelrod, Charles Axelrod and Micaela Rustia Moore - filed a Chapter 15 for recognition of the foreign proceeding under Canada’s Companies’ Creditors Arrangement Act before the Supreme Court of British Columbia in Vancouver. The foreign representative sought to preserve the status quo in order to ensure the debtors would have the opportunity to restructure their businesses for the benefit of all stakeholders as contemplated under the U.S. Bankruptcy Code and Canadian law.

The debtors commenced the Canadian Proceeding and filed the Chapter 15 Petition based upon defaults asserted by Deutsche Bank AG related to the purchase of gold. The Canadian Court issued an initial order appointing the foreign representative, authorizing the filing of a chapter 15 petition and specifically prohibiting Deutsche Bank from exercising remedies against the debtors’ assets. Due to the nature of the debtors’ mining operations and the related safety, regulatory and environmental concerns, the debtors’ ability to fund expenses for supplies and payroll is crucial. In turn, the debtors’ cash flow is dependent on its ability to sell gold on favorable terms to its primary purchaser. Fox Rothschild assisted with obtaining provisional relief on an expedited basis and getting relief from the U.S. Bankruptcy Court the very same day the chapter 15 petition was filed. The team further assisted in obtaining other forms of relief, including a stipulated use of cash collateral with Deutsche Bank, before the US Bankruptcy Court that have allowed the Debtors to continue their operations.

The Fox team also assisted with the process that led to the eventual sale of the gold mines.

Acquisition of Nelson Pipeline by Navigator Partners and Beirne Pipeline Holdings partnered with Axis Private Equity

A team of Fox attorneys that included Peter Tucci, Sandra Romaszewski, Rick Rubin, Harsha Krishnan, Christopher Pippett, Susan Jordan, Joseph Sellars and Alexander Radus represented Navigator Partners, LLC, a private equity firm, and Beirne Pipeline Holdings, LLC in a series of inter-related and complex transactions including:

  • Equity raise for Navigator Nelson Investors LLC
  • Establishment of a joint venture entity, Nelson Infrastructure Services LLC, followed by formation of its wholly owned subsidiary, Nelson Pipeline Constructors LLC
  • Loan by White Oak Global Advisors, LLC to Nelson Pipeline Constructors LLC to fund part of the purchase price for substantially all of the operating assets of Colorado-based Nelson Pipeline Constructors, Inc.
  • Line of credit facility by First Western Trust Bank to Nelson Pipeline Constructors LLC
  • Purchase by Nelson Pipeline Constructors LLC of substantially all of the operating assets of Nelson Pipeline Constructors, Inc.

The deal closed over a three-day period: April 26 to April 28, 2015.