S&C Advises LSC Communications in Obtaining Court Approval for Chapter 11 Asset SaleOctober 5, 2020
LSC Communications Inc. has received court approval for the sale of substantially all of its assets to an affiliate of Atlas Holdings LLC. On September 30, U.S. Bankruptcy Court Judge Sean Lane in the Southern District of New York approved the stock and asset purchase agreement, which has the support of certain of LSC's secured creditors. The transaction is expected to close during the fourth quarter of 2020.
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 is led by Andy Dietderich and includes Brian Glueckstein and Christian Jensen. Audra Cohen is leading the M&A aspects of the transaction. Heather Coleman is advising on employee and executive compensation matters and David Hariton is advising on tax issues.