Anson B. Frelinghuysen

Anson B. Frelinghuysen’s restructuring practice includes the representation of lenders, debtors, and strategic investors at all stages of the restructuring process.  Banks call on Anson to protect their interests in troubled investments, and companies rely on Anson’s advice to carry them through a successful restructuring. Anson works alongside strategic investors to find value in distressed debt and assets in a wide range of sectors. 

Anson’s transactional experience focusses on distressed transactions, representing both buyers and sellers in bankruptcy auctions.  Anson also advises companies in non-distressed transactions, including representation in de-SPAC transactions and otherwise, including capital markets offerings and SEC transaction approval.  

Anson spent a significant portion of his early career representing the trustee for the separate liquidations of Lehman Brothers Inc. and MF Global Inc, both under the Securities Investor Protection Act.  In both proceedings, Anson resolved myriad disputes on behalf of the trustee, including the resolution of thousands of individual claims, status of various financial instruments in liquidations, and the distribution of billions in assets to these entities’ former customers and creditors. His work brought him into frequent contact with regulators, self-regulatory organizations, and industry groups, including revising the rules for Commodity Exchange Act liquidations.

Anson serves as trustee on numerous trusts for the benefit of individuals and families, meeting the needs of grantors and beneficiaries for responsible and fair administration.

•  Isos Acquisition Corp.  Represented Isos in connection with its de-SPAC transaction with Bowlero, the nation’s largest bowling center operator.
• Starboard Value Acquisition Corp.  Represented Starboard with a SPAC backed by activist investor Starboard Value, in its $404 million initial public offering and $3.4 billion merger with Cyxtera Technologies Inc. that took the data center provider public.
• Hermitage Offshore.  Represented DNB Bank ASA and SEB as secured lenders, chapter 11 lenders, and eventual purchasers of the debtors’ assets, including the in connection with the lenders’ subsequent resale of the assets.
• GulfMark Offshore, Inc. Represented secured lender DNB Bank ASA with respect to creditor rights and provision of debtor-in-possession financing. Represented DNB Bank ASA and Hayfin Capital Management in connection with the arrangement and provision of exit financing.
• CST Corporation. Represented the debtor with respect to its obtaining debtor-in-possession financing and with respect to cash management and ongoing business operation issues.
• Patriot National, Inc. Represented the debtor with respect to its obtaining debtor-in-possession financing and with respect to cash management and ongoing business operation issues.
• Emerald Oil LLC.  Represented Dakota Midstream LLC as the purchaser of assets through a bankruptcy auction.
• Valaris Offshore.  Served as DNB Bank ASA’s special counsel in connection with its role as a member of the statutory creditors committee and lender to the debtor, including in connection with DNB’s participation in the debtors’ successful exit from chapter 11.
• Altera Infrastructure.  Advised DNB as a member of lending syndicate in connection with global restructuring of Altera Infrastructure.
• Toys “R” Us, Inc.  Represented Hain Celestial Group, Inc. in connection with its vendor-based claim.
• Lehman Brothers Inc. (LBI)  Represented the Trustee in the $123 billion liquidation of Lehman Brothers Inc., the largest bankruptcy in history. Secured a 100% recovery for customers, secured and priority claimants and distributed nearly $9 billion to general unsecured creditors.
• MF Global Inc. (MFGI)  Represented the Trustee in the $40 billion liquidation of MF Global Inc., the eighth largest bankruptcy in US history. Secured a 100% recovery for customers and secured creditors, and a 95% recovery for unsecured creditors.