Engagements

Drivetrain and its professionals have been engaged in a number of matters that are both public and private in nature.  A representative sample of our publicly disclosed engagements includes: 

lightsquared

Independent Director
special committee member

LightSquared, a holder of wireless spectrum owned and controlled by a financial sponsor, filed for chapter 11 in May 2012.  In 2013, after the stakeholders were unable to negotiate a mutually acceptable resolution, a Drivetrain professional was appointed to the board as an independent director and member of the Special Committee.  The Special Committee was responsible for driving the restructuring process, which included court-mandated mediation, an auction process, multiple alternate chapter 11 plans, over $3.0 billion of new 1st and 2nd lien exit financing commitments, and the negotiation and approval of a plan of reorganization that was acceptable to all major stakeholders and approved by the bankruptcy court 


puerto rico

Trustee for Doral Financial

Drivetrain serves as the liquidation trustee for Doral Financial Corporation, a liquidating Puerto Rican bank that holds a substantial claim in the Title 3 proceedings. In this role, Drivetrain serves as the [co-chair] of the Official Committee of Unsecured Creditors in the Puerto Rican restructuring proceedings.    


Terraform Global

Independent Director
Conflicts committee member
Compensation Committee member

Terraform Global was a profitable public subsidiary of an insolvent parent when a Drivetrain professional was appointed to the board by the parent's management as an independent director. The key tasks for the independent directors were (i) resolving multiple complex litigations; (ii) overseeing the creation of a standalone infrastructure as part of the subsidiary's separation from the parent (e.g., creation of independent accounting, reporting & compliance systems); (iii) keeping the subsidiary from being drawn into the parent's chapter 11 process and out of bankruptcy; and (iv) managing a successful auction process for the sale of the subsidiary.  


the weinstein companY

Independent Director

In April 2018, during the bankruptcy of The Weinstein Company, a Drivetrain professional was appointed to the board as an independent director at the request of the Unsecured Creditors Committee to help navigate the bankruptcy process.