S&C Advises LSC Communications in Chapter 11 Asset SaleOctober 5, 2020
Updated December 4, 2020
On December 4, LSC Communications Inc. and certain of its subsidiaries completed the sale of substantially all of LSC's assets under Section 363 of the U.S. Bankruptcy Code to an affiliate of Atlas Holdings LLC with the support of certain of LSC's secured creditors. U.S. Bankruptcy Court Judge Sean Lane in the Southern District of New York had approved the sale on October 7.
LSC, which was spun off from R.R. Donnelley & Sons Company in 2016, is one of the largest printers of books and magazines in the United States. S&C has handled various matters for LSC prior to the bankruptcy filing, including mergers and acquisitions, securities law, financing and other general corporate matters.
The S&C restructuring team was led by Andy Dietderich and included Brian Glueckstein and Christian Jensen. Audra Cohen led the M&A aspects of the transaction. Heather Coleman advised on employee and executive compensation matters and David Hariton advised on tax issues.