Miami, FL – 2 May – LAWFUEL – The Law News Network – The Florida business law firm of Berger Singerman, which is serving as special transactional counsel to Aloha Airlines in its Chapter 11 reorganization proceeding, announced that it successfully assisted the airline in obtaining a $65 million debtor in possession (DIP) revolving credit facility in New York that will enable the company to continue operations as it proceeds through its business reorganization.
The loan is with Ableco Finance, LLC, an affiliate of Cerberus Capital Management, LP., and Goldman Sachs Credit Partners, LP.
“We are extremely fortunate to have aligned ourselves with two highly respected financial institutions such as Cerberus and Goldman Sachs,” said David A. Banmiller, Aloha’s president and chief executive officer. “This financing commitment from our new lenders is a significant step in our goal to quickly exit bankruptcy and represents a vote of confidence in our restructuring business plan.”
The following Berger Singerman attorneys were involved in this effort: bankruptcy attorneys Paul Steven Singerman and Jordi Guso, and transactional attorneys Daniel Lampert, Arnold D. Shevin and Thomas O. Wells. All are shareholders with Berger Singerman, and Paul Singerman serves as Co-CEO of the firm.
“I am extraordinarily proud of our team for the talent and leadership it demonstrated in getting this complicated transaction done,” said Singerman. “Aloha Airlines is the fifth largest employer in the state of Hawaii with 3,700 employees, and this financing will contribute greatly to its successful reorganization and emergence from bankruptcy.”
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Berger Singerman is a Florida business law firm with 45 attorneys working out of offices in Boca Raton, Fort Lauderdale, Miami and Tallahassee. Members of the firm have expertise in all areas of commercial law, including banking, creditors’ rights, business reorganization, bankruptcy, corporate & securities, dispute resolution and litigation, white collar crime, real estate, environmental and land use, health care, tax, estate planning, and probate.