Kenneth Noble Founder and Managing Member

Kenneth Noble has an excellent reputation as a go-to attorney focused on financial restructurings and special opportunities.  He has significant experience representing foreign and domestic financial institutions, funds and other creditor groups in connection with middle-market and large cap out-of-court workouts and bankruptcy proceedings.

His restructuring practice is industry agnostic, often concentrating in specific sectors based on macro- and micro-economic trends. He is a sought-after lecturer on complex and emerging financial restructuring issues.

Kenneth is admitted as a practicing attorney in New York and Illinois and as a practicing solicitor in England and Wales.  He is also a Certified Public Accountant and a Certified Management Accountant (non-practicing).

Experience

Healthcare

  • Represented the administrative agent under a $235 million credit facility in connection with the restructuring and Chapter 11 sale of Aceto Corporation, an international producer and distributor of generic pharmaceuticals and specialty chemicals.
  • Represented the administrative agent under a $125 million credit facility in connection with a strict foreclosure and out-of-court sale of Pharm-Olam, a global clinical research organization.
  • Represented the lender under a $35 million credit facility in connection with an out-of-court restructuring and sale of Rosdev TX SNF Group, which operated a group of skilled nursing facilities in Texas.
  • Represented the lender under a $30 million credit facility in connection with an out-of-court restructuring of Lexington Health Care Centers, which operated a group of skilled nursing and rehabilitation centers.
  • Represented the administrative agent under a $25 million credit facility in connection with an out-of-court merger and restructuring of Community United Methodist Health, a comprehensive healthcare system in western Kentucky.
  • Represented the lender under a $25 million credit facility in connection with an out-of-court restructuring of Brandman, a group of skilled nursing facilities.
  • Represented the administrative agent under a $225 million letter of credit reimbursement agreement in connection with the restructuring of Mirabella Tower at South Waterfront, a premier continuing care retirement center.
  • Represented the administrative agent under a $165 million credit facility in connection with the out-of-court sale and restructuring of Allion Healthcare, a specialty pharmacy and disease management company.
  • Represented the administrative agent under a $50 million credit facility in connection with the out-of-court restructuring of Loving Care, a leading provider of home health services.
  • Represented the administrative agent under a $50 million credit facility in connection with a stock foreclosure and out-of-court restructuring of Vision Twenty-One, which was a publicly owned vision healthcare company.

Restaurant

  • Represented the administrative agent under a $100 million credit facility in connection with the out-of-court restructuring and sale of Diversified Restaurant Holdings, one of the largest franchisees for Buffalo Wild Wings.

Education

  • Represented the administrative agent under a $125 million credit facility in connection with a pre-packaged Chapter 11 restructuring of Penn Foster, a for-profit provider of accredited online high school, career, and college programs.
  • Represented the administrative agent under an $80 million credit facility in connection with the out-of-court restructuring of Education Dynamics, LLC, a provider of marketing support and enrollment services to post-secondary education.
  • Represented the administrative agent under a $30 million credit facility in connection with the out-of-court restructuring and exit of Glenwood Academy, a nonprofit school.

Municipal

  • Represented the holder of $65 billion of bonds in connection with the city of Detroit's Chapter 9 case.
  • Represented the city of East St. Louis in connection with Chapter 9 analysis and out-of-court restructuring negotiations.

Retail

  • Represented the administrative agent under a $125 million credit facility in connection with the out-of-court restructuring of Empire Carpets, a home improvement and home furnishing company specializing in installed carpet, flooring, and window treatments.
  • Represented the lender in a $50 million credit facility in connection with the out-of-court restructuring of Young America Corporation's consumer promotion fulfillment services.
  • Represented the administrative agent under a $750 million credit facility in connection with a Chapter 11 proceeding involving Spiegel, a leading international general merchandise and specialty retailer, and its affiliates.
  • Represented the Official Bank Creditors' Committee of Handy Andy Home Improvement Centers, Inc., a major regional hardware company.
  • Represented the Official Unsecured Creditors' Committee of Highland Superstores, Inc., a major electronics retailer.
  • Represented the holder of $65 billion of bonds in connection with the city of Detroit's Chapter 9 case.

International

  • Represented the administrative agent under a $150 million credit facility in connection with Chapter 11 bankruptcy proceedings and related litigation of Morgan Creek International regarding international distribution rights to a major motion picture library.
  • Represented the administrative agent under a $100 million credit facility in connection with Hill International, Inc.'s out-of-court restructuring of project management and construction claims services.
  • Represented the administrative agent under a $120 million credit facility in connection with the out-of-court exchange offer and recapitalization of Weigh-Tronix, a leading international manufacturer, marketer, and servicer of industrial and food retail weighing systems and its domestic and foreign subsidiaries.

Manufacturing

  • Represented the administrative agent under a $125 million credit facility in connection with the out-of-court restructuring and sale of SolAero Technologies, one of the world’s leading manufacturers of solar cells and solar panels for space power applications.
  • Represented the administrative agent under a $150 million credit facility in connection with the out-of-court restructuring of Gibson Guitar Corporation, which manufactures a premier line of instruments under various brands.
  • Represented the administrative agent under a $140 million credit facility in connection with the out-of-court restructuring of PDM Bridge, LLC, a steel fabricator of complex bridge structures.
  • Represented the administrative agent under a $300 million (Cdn.) credit facility in connection with pending Chapter 11 proceedings involving Slater Steel, one of the largest specialty steel processors in North America, and its affiliates.
  • Represented the administrative agent under a $60 million credit facility in connection with an out-of-court restructuring of Beacon Industries, an international manufacturer of metalworking and metal fabrication equipment.
  • Represented the administrative agent under a $55 million credit facility in connection with an out-of-court restructuring of Monona Wire and its domestic and foreign subsidiaries, which manufacture electrical wire harnesses and related sub-assemblies.
  • Represented the administrative agent under a $68 million credit facility in connection with an out-of-court liquidation of FlexTek, a sheet metal fabrication and stamping manufacturer.

Real Estate

  • Represented the administrative agent under a $650 million credit facility in connection with the out-of-court restructuring of Rockwood Ocean, LLC, which owned and operated a portfolio of full-service hotels on the East Coast.
  • Represented a steering committee member under a $566 million credit in connection with Chapter 11 proceedings involving Sea Island Company, which owned and operated a luxury resort and golf vacation destination.
  • Represented the lender under a $265 million loan, lease, and construction facilities in connection with equity enforcement and out-of-court restructuring for Muvico Theaters, a chain of premium, mega-plex motion picture theaters.
  • Represented the lender under a $250 million lease financing in connection with Chapter 11 bankruptcy proceedings of AMF Bowling Centers, the largest domestic bowling chain.

Gaming

  • Represented the lender under a $750 million bilateral credit facility in connection with the out-of-court restructuring of M Resort Spa Casino Las Vegas, a luxury boutique hotel and casino. As a result of the successful outcome of this matter, Mr. Noble was recognized as a finalist for the 2011 ACG Art of the Deal Award.
  • Represented the administrative agent under a $250 million credit facility in connection with the out-of-court restructuring of MS Gaming, which owned and operated the Edgewater and Colorado Belle gaming resorts.
  • Represented a steering committee member in connection with the out-of-court restructuring of a $7 billion credit facility to MGM Resorts International, the second-largest gaming company in the world.
  • Represented a steering committee member under a $900 million credit facility in connection with Chapter 11 proceedings involving Station Casinos, an owner and operator of 18 casinos and resorts.
  • Represented a steering committee member under a $900 million credit facility in connection with Chapter 11 proceedings and litigation relating to the construction and sale of the Fontainebleau Resort hotel, condo, and casino development.

Telecommunications

  • Represented the lender under a $25 million credit facility in connection with the restructuring and Chapter 11 proceedings of MobiTV, a provider of internet streaming television services.
  • Represented the administrative agent under a $2 billion credit facility in connection with Chapter 11 proceedings involving Adelphia Communications Corporation, the sixth-largest provider of cable television services in North America, and its affiliates.
  • Represented the administrative agent under a $133 million credit facility in connection with workout negotiations and confirmation of a pre-arranged Chapter 11 plan of reorganization of Metrocall, the second-largest provider of paging and related wireless messaging in North America.
  • Represented the administrative agent under a $310 million credit facility in connection with a Chapter 11 sale pursuant to a plan of reorganization of Benedek Broadcasting, an owner and operator of various television stations. Represented the administrative agent under a $120 million credit facility in connection with a stock foreclosure and out-of-court liquidation of Duro Communications, a provider of dial-up Internet access.
  • Represented the administrative agent under a $200 million credit facility in connection with restructuring negotiations and the subsequent Chapter 7 liquidation of TSR Wireless, the fourth-largest provider of paging and other wireless messaging and related services in North America.
  • Represented the Official Unsecured Creditors' Committee of Old UGC, Inc., with $1.5 billion in public bonds outstanding, and the owner of Chile's largest multi-channel television and high-speed Internet provider, as well as Australia's second-largest subscription television operator.
  • Represented the Official Unsecured Creditors' Committee of Midcom Communications, a major provider of telecommunications services.

Other

  • Represented DBI Holdings as borrower and issuer in connection with the out-of-court restructuring of $425 million in debt and equity, which provides transport equipment and supplies distribution services.
  • Represented the lender under a $25 million credit facility in connection with the out-of-court restructuring of Six Sigma Qualtec, a provider of quality control services.

Admissions

  • United States Supreme Court
  • United States Courts of Appeal (Second, Sixth and Seventh Circuits)
  • United States District Courts (S.D.N.Y., N.D. Ill., E.D. Mi.)
  • State of New York
  • State of Illinois
  • England & Whales (Solicitor)

Education

  • University of Chicago Law School (matriculated)
  • University of Illinois, J.D., summa cum laude
  • Northern Illinois University, B.S., cum laude, Finance and Accounting
  • Certified Public Accountant (non-practicing)
  • Certified Management Accountant (non-practicing)

Recognition

  • The Best Lawyers in America, 2013-2023
  • New York Super Lawyers, Thomson Reuters, 2011-2023
  • Legal Advisor of the Year, 15th Annual Atlas Turnaround Awards
  • Pre-packaged Restructuring of the Year, Middle Markets, 6th Annual Atlas Turnaround Awards
  • Art of the Deal Award (finalist), 5th Annual Atlas Turnaround Awards

Selected Events

  • Restructuring for Fun and Profit: Best Practices in Effectuating a Change in Ownership (moderator, 17th Annual Healthcare Private Equity & Finance Conference)
  • Coercive Loan Restructurings – Tools and Trends (moderator, MB CLE)
  • A Brave New World? Exploring Chapter 9 Debt Relief for Detroit and Other Municipalities (panelist, KM Webcast)
  • Structuring Agreements Among Lenders in Unitranche Loan Facilities and Overcoming Bankruptcy-Related Risks (moderator, Strafford CLE)
  • Illuminating Developments in Intercreditor Dynamics: The Impact of Energy Future Holdings Corp. (moderator, LSTA Webcast)

Selected Publications

  • Bankruptcy: A Survival Guide for Lenders (published by American Bankruptcy Institute)
  • Lender Liability (published by Norton Bankruptcy Law and Practice)
  • Municipal Bankruptcies: An Overview and Recent History of Chapter 9 of the Bankruptcy Code  (published by Pratt’s Journal of Bankruptcy Law)
  • Midstream Oil & Gas Gathering Agreements Rejected in Sabine Oil & Gas Bankruptcy (published by LexisNexis)
  • Standing to Surcharge the Secured Creditor: Policy, Plain Meaning and Payment Under Section 506(c) of the Bankruptcy Code (published by Journal of Bankruptcy Law and Practice)