Chapman is serving as US counsel to the indenture trustee in connection with the restructuring of approximately $220 million (NIS 620 million) of bonds traded on the Tel Aviv Stock Exchange issued by SIMAD Holdings Limited, a BVI holding company that operates over 30 summer camps across the northeastern United States. The company commenced bankruptcy proceedings under Chapter 11 of the United States Code in the District of New Jersey. The matter is being led by partner Michael Friedman, head of Chapman’s Israel Practice and leader of the Special Situations and Restructuring Group.
The engagement was reported by Israel Desks: Legally Israel News and Law360.
