Overview
Darren Azman is a member of the Firm’s Management Committee and a partner in the Business Restructuring group. Darren’s practice focuses on corporate restructurings, creditors’ rights and distressed acquisitions. His clients include private equity sponsors, troubled companies, official creditors’ committees, financial and strategic purchasers of distressed assets and others in connection with in-court and out-of-court restructurings.
Darren has distinct restructuring experience in the fields of energy, manufacturing, healthcare, technology, maritime and transportation, cryptocurrency, and cross-border restructurings, including insolvency proceedings in Brazil, Germany, Japan and Korea. He routinely litigates matters in US Bankruptcy Courts and other venues.
Darren also acts as a trusted advisor to emerging companies by helping them navigate a wide range of business and legal issues, including capital formation, licensing, developing and leveraging intellectual property, strategic alliances, regulatory compliance, employee and labor matters, litigation and general corporate matters. During law school, Darren took a leave of absence to start a health care technology company in New York, which still exists today. Darren’s prior experience on the business side of emerging companies gives him a unique ability to provide clients with guidance on matters that directly impact business growth. His clients include emerging companies in the technology, healthcare, energy, blockchain, cryptocurrency, telecommunications and media space.
Results
Distressed Companies in Chapter 11 Cases and Out-of-Court Restructurings
- Represented Volunteer Energy Services, a retail supplier of electricity and natural gas, in its Chapter 11 bankruptcy proceedings ($200mm revenue; $70mm debt)
- Represented medical device manufacturer NinePoint Medical Inc. in its Chapter 11 bankruptcy proceedings
- Represented an international apparel manufacturer and retailer with approximately 1,000 store locations in connection with a potential Chapter 11 bankruptcy filing
- Represented upstream oil & gas company operating Furie Operating Alaska in its Chapter 11 bankruptcy proceedings ($25mm revenue; $450mm debt)
- Represented firearms distributor United Sporting Companies in its Chapter 11 bankruptcy proceedings ($550mm revenue; $300mm debt)
- Represented Agera Energy, a retail supplier of electricity and natural gas, in its Chapter 11 bankruptcy proceedings ($750mm revenue; $375mm debt)
- Represented Borgers S.A., a Germany-based automotive parts manufacturer with facilities in Europe and the US, in an out-of-court restructuring (€900mm revenue; €350mm debt)
- Represented international fuel bunker supplier O.W. Bunker Germany GmbH in its Chapter 15 bankruptcy proceedings and in connection with litigation in New York and Texas regarding unpaid fuel bunker receivables
- Represented Japanese real estate portfolio companies in connection with an out-of-court restructuring ($400mm debt)
- Represented publicly traded insurance company Affirmative Insurance Holdings, Inc. in its Chapter 11 bankruptcy proceedings ($100mm debt)
- Represented intraoperative neuro physiological monitoring company ProNerve Holdings, LLC in its Chapter 11 bankruptcy proceedings ($30mm revenue; $50mm debt)
- Represented cable and broadband equipment repair company Contec Holdings, Ltd. in its Chapter 11 bankruptcy proceedings ($150mm revenue; $360mm debt)
Creditor Committees in Chapter 11 Cases
- Official Committee of Unsecured Creditors in the Chapter 11 Cases of Entrust Energy, Inc.
- Official Committee of Unsecured Creditors in the Chapter 11 Case of retail energy provider Griddy Energy LLC
- Official Committee of Unsecured Creditors in the Chapter 11 Cases of cryptocurrency financial services platform Cred Inc.
- Official Committee of Unsecured Creditors in the Chapter 11 Cases of specialty metals supplier Energy Alloys Holdings, LLC
- Official Committee of Unsecured Creditors in the Chapter 11 Cases of restaurant chain Perkins & Marie Callender’s, Inc.
- Ad hoc bondholder group holding $300 million in principal amount in connection with the reorganization of Brazilian oil and gas company OGX Petroleo & Gas Participacoes SA
Financial Sponsors and Strategics in Acquiring Distressed Companies
- In re: GBG Sean John LLC (Bankr. S.D.N.Y) – Sean John fashion and lifestyle brand
- In re: Vitality Health Plan of California (Bankr. C.D. Cal.) – HMO Health Insurance Plan in California
- In re: Imerys Talc America, Inc. (Bankr D. Delaware) – Talc mines and operations located in Vermont, Montana, Texas, and Canada
- In re: IntegraMed Holding Corp. (Bankr. D. Delaware) – Management company for nationwide group of fertility practices
- In re: Texas Pellets Inc. (Bankr. S.D. Texas) – Wood pellet production facility
- In re: Willowood USA Holdings, LLC (Bankr. D. Colorado) – Crop protection products and related EPA registrations
- In re: Real Industry, Inc. (Bankr. D. Delaware) – Aluminum recycling facilities
- In re: BTH Quitman Hickory LLC (Bankr. D. Nevada) – Wood pellet production facility
- In re: WonderWork, Inc. (Bankr. S.D.N.Y.) – Charitable assets including restricted donations
- In re: SEGA Biofuels, LLC (Bankr. S.D. Georgia) – Wood pellet production facility
- In re: SunEdison, Inc. (Bankr. S.D.N.Y.) – Solar energy assets
- In re: Revel AC, Inc. (Bankr. D. New Jersey) – Casino
- In re: Potomac Supply Corporation (Bankr. E.D. Virginia) – Forest products company
- In re: Arctic Glacier (Bankr. D. Delaware) – Ice manufacturer
Directors & Officers and Other Parties in Bankruptcy Court Litigation
- Represented former officer of ITT Educational Services, Inc. in connection with the ITT Chapter 7 bankruptcy proceedings
- Represented four of the world’s five largest intermodal shipping container lessors in the Chapter 15 case of Hanjin Shipping Co., Ltd. and related insolvency proceedings worldwide, including Korea
- Represented indenture trustees and administrative agents in connection with Chapter 11 proceedings
- Represented trade creditors and other parties in defending fraudulent conveyance and preference actions in Chapter 7 and Chapter 11 proceedings
Recognitions
- The M&A Advisor, Chapter 11 Reorganization of the Year – Cred Inc., 2022
- The M&A Advisor, Restructuring Deal of the Year – Vitality Health Plan of California, 2022
- Legal 500 USA, Recommended Lawyer, 2022
- American Bankruptcy Institute, 40 Under 40, 2021
- The American Lawyer, Litigator of the Week (Runner-Up), February 2021
- Best Lawyers: Ones To Watch (Bankruptcy and Debtor Rights / Insolvency and Reorganization Law), 2021
- American Bankruptcy Institute, Asset Sale of the Year (In re: Agera Energy), Lead Debtors’ Counsel, July 2020
- Turnarounds & Workouts, Outstanding Young Restructuring Lawyer, 2020
- The M&A Advisor, Emerging Leader Award, 2019
- New York Law Journal, Rising Star, 2019
- Super Lawyers, New York Metro Rising Star, 2017 to 2022
- IFLR, Restructuring & Insolvency Rising Star, 2018 to 2019
- The Turnaround Management Association, Non-Profit Transaction of the Year – Wonderwork, Inc., 2019
- The American Lawyer, Honoree, Global Finance Deal of the Year (South America), 2015 (OGX Debt Restructuring)
Credentials
Education
Georgetown University Law Center, cum laude
Bentley University, BS, magna cum laude
Admissions
Massachusetts
New York
Courts / Agencies
US District Court for the District of Colorado
US District Court for the Eastern District of New York
US District Court for the Southern District of New York
US Court of Appeals for the Second Circuit
US Court of Appeals for the Third Circuit
US District Court for the District of Massachusetts
US Bankruptcy Court for the Southern District of New York
