Locke Lord Serves as Local Counsel to First Lien Lenders in Mood Media Corporation Bankruptcy

Locke Lord’s Phil Eisenberg (Houston) and Brad Knapp (New Orleans) served as local counsel to the first lien lenders in the prepackaged bankruptcy of Mood Media Corporation, the successor to the historic Musak Corporation. The plan of reorganization provides for the first lien lenders to convert debt to equity in a transaction that will deleverage the company’s balance sheet by $400 million. The Mood Media bankruptcy was filed in the Southern District of Texas on July 30 around 1 p.m., and the plan or reorganization was confirmed on July 31 at around noon, making it one of the fastest Chapter 11 restructurings in history.
Posted on August 4, 2020