Close

NEIMAN MARCUS: Porter Hedges, Paul Weiss Represent Noteholder Group

Subscribe or sign up for a free trial.

Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure, the law firms of Porter Hedges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP submitted a verified statement to disclose that they are representing the Ad Hoc Committee in the Chapter 11 cases of Neiman Marcus Group Ltd LLC, et al.

The Ad Hoc Secured Noteholder Committee or the Ad Hoc Committee of (i) 8.750% Third Lien Senior Secured Notes due 2024 issued under that certain indenture, dated as of June 7, 2019, as amended, restated, amended and restated, supplemented or otherwise modified from time to time, by and among Mariposa Borrower, Inc., The Neiman Marcus Group LLC, NMG Subsidiary LLC and Neiman Marcus Group LTD LLC, the guarantors party thereto and Wilmington Trust, National Association, as trustee and collateral agent; (ii) 8.000% Third Lien Senior Secured Notes due 2024 issued under that certain indenture, dated as of June 7, 2019, as amended, restated, amended and restated, supplemented or otherwise modified from time to time, by and among the Issuers, the guarantors party thereto and Wilmington Trust, as trustee and collateral agent, and (iii) 14.0% Second Lien Notes due 2024, issued under that certain indenture, dated as of June 7, 2019.

In September 2018, certain members of the Ad Hoc Committee retained Paul, Weiss, Rifkind, Wharton & Garrison LLP to represent them in connection with a potential financed restructuring of the above-captioned debtors and debtors-in-possession. In March 2020, certain members of the Ad Hoc Committee retained Porter Hedges LLP, as its co-counsel. From time to time thereafter, certain additional holders of the Secured Notes joined the Ad Hoc Committee.

As of May 15, 2020, members of the Ad Hoc Committee and their disclosable economic interests are:

J.P. Morgan Investment Management Inc.
1 E Ohio St
Indianapolis, IN 46204

* NMG 14% 2L Notes due 2024: $158,955,409
* NMG 8% 3L Notes due 20244: $116,376,000
* NMG 8.75% 3L Notes due 2024: $85,742,921
* Cash Pay/PIK Extended Term Loans: $53,584,668
* Cash Pay Extended Term Loans: $6,437,014

Capital Research and Management
399 Park Ave., 33th Floor
New York, NY 10022

* NMG 14% 2L Notes due 2024: $97,614,136
* NMG 8% 3L Notes due 20244: $51,724,000
* NMG 8.75% 3L Notes due 2024: $56,528,094
* Cash Pay/PIK Extended Term Loans: $48,015,334

Southeastern Asset Management
6410 Poplar Ave., Suite 900
Memphis, TN 38119

* NMG 14% 2L Notes due 2024: $166,851,855

Marathon Asset Management, LP
One Bryant Park 38th Floor
New York, NY 10036

* NMG 14% 2L Notes due 2024: $45,556,113
* NMG 8% 3L Notes due 20244: $71,151,000
* NMG 8.75% 3L Notes due 2024: $27,335,115

Anchorage Capital Group, LLC
610 Broadway
New York, NY 10012

* NMG 8% 3L Notes due 20244: $15,484,000
* NMG 8.75% 3L Notes due 2024: $158,474,668
* Cash Pay Extended Term Loans: $796,715
* 2028 Debentures: $31,151,000

Susquehanna Advisors Group, Inc.
401 City Ave., Suite 220
Bala Cynwyd, PA 19004

* NMG 8% 3L Notes due 20244: $15,991,672
* NMG 8.75% 3L Notes due 2024: $4,000,000
* Unsecured Cash Pay Notes: $500

LMR Master Fund Limited
10th Floor, 363 Lafayette St
New York, NY 10012

* NMG 8% 3L Notes due 20244: $19,500,000
* NMG 8.75% 3L Notes due 2024: $2,000,000

Counsel to the Ad Hoc Committee can be reached at:

John F. Higgins, Esq.
Eric M. English, Esq.
M. Shane Johnson, Esq.
PORTER HEDGES LLP
1000 Main St., 36th Floor
Houston, TX 77002
Telephone: (713) 226-6000
Facsimile: (713) 228-1331
Email: jhiggins@porterhedges.com

– and –

Andrew Rosenberg, Esq.
Alice Belisle Eaton, Esq.
Claudia Tobler, Esq.
PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
1285 Avenue of the Americas
New York, NY 10019
Telephone: (212) 373-3000
Facsimile: (212) 757-3990
Email: arosenberg@paulweiss.com
aeaton@paulweiss.com
ctobler@paulweiss.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com, is available at https://is.gd/MErS1s

About Neiman Marcus Group

Neiman Marcus Group LTD, LLC, is a luxury omni-channel retailer conducting store and online operations principally under the Neiman Marcus, Bergdorf Goodman, and Last Call brand names. It also operates the Horchow e-commerce website offering luxury home furnishings and accessories. Since opening in 1907 with just one store in Dallas, Neiman Marcus and its affiliates have strategically grown to 67 stores across the United States. See the storefront at https://www.neimanmarcus.com

Neiman Marcus Group LTD and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 20-32519) on May 7, 2020. At the time of the filing, the Debtors were each estimated to have assets of between $1 billion and $10 billion and liabilities of the same range.

Judge David R. Jones oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis International, LLP as bankruptcy counsel; Jackson Walker, LLP as local counsel; Berkeley Research Group, LLC as restructuring advisor; Lazard Freres & Co. LLC as investment banker; and Stretto as claims, noticing and solicitation agent.

Leave a Reply

Your email address will not be published. Required fields are marked *