DLA Piper has represented Education Holdings 1 Inc., the former owner of The Princeton Review test-preparation business, in its prepackaged Chapter 11 proceeding.

DLA Piper facilitated a deleveraging of the balance sheet and a conversion of debt to equity through a prepackaged plan of reorganization which was approved by the Honorable Brendan L. Shannon of the US Bankruptcy Court for the District of Delaware on March 7, 2013, only 45 days after filing its petition. The plan of reorganization also contemplated a $43.5 million exit financing facility with General Electric Capital Corporation serving as the administrative agent and collateral agent thereunder.

The team representing Education Holdings 1, Inc. included Matt Murphy, Gregg Galardi, Stuart Brown, Jonathan G. Pfleeger, and Michelle Marino.

http://www.dlapiper.com/dla-piper-advised-education-holdings-1-inc-in-c…