Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
04.10.23
Pillsbury represented debtor Rockley Photonics Holdings Limited, a global leader in photonics-based health monitoring and communications solutions, in its chapter 11 case in the U.S. Bankruptcy Court for the Southern District of New York, successfully confirming a prepackaged chapter 11 plan that allowed Rockley to go private and restructure its business through transactions that eliminated more than $120 million of secured debt and generated approximately $35 million in new funding from existing secured noteholders.
Rockley’s plan of reorganization was supported by 100% of holders of claims entitled to vote on the plan. Despite two days of contested confirmation hearings, the plan was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on March 10—just 46 days after commencement of the case.
The Pillsbury team was led by Insolvency & Restructuring partners Joshua Morse, Dania Slim, and John Pintarelli, with special counsel Jonathan Doolittle and associates Kwame Akuffo and Alana Lyman. The Pillsbury team was supported by Corporate partner Jim Masetti and associates Olivia Lugar and Shade Oladetimi; Litigation partner Ari Berman and associate Roland Reimers; Finance senior counsel Kenneth Suh, counsel Victoria Judd, and associate Sacha Urbach; and Insurance Recovery & Advisory counsel Aaron Coombs.