Edward Arnold

Represented lead banks in leveraged lease financing of fractional interest in $320 million offshore drilling platform.

Louisiana counsel in numerous financing transactions, including a Nevada gaming corporation in its $2 billion credit facility.

Closed $60 million in senior secured financing for energy industry client, refinancing a $45 million loan previously closed by Baker Donelson. The loan proceeds were used by the client to refinance existing debt and fund the drilling of additional wells in the Gulf of Mexico.

Represented energy industry client, closing $45 million in senior secured financing on its behalf in order to refinance existing debt, fund the acquisition of additional offshore mineral leases, and fund the acquisition of a plugging and abandonment company. The loan follows a failed $100 million bond offering that closed but did not fund in the wake of the collapse of the high-yield bond market in 2014.

Closed a $10 million bankruptcy acquisition of a bio-diesel plant for an international client, who plans for a future $100 million conversion to an ammonia plant.

Closed a complicated marine financing transaction for a major national bank. The bank issued letters of credit in excess of $50 million to support the construction of two 271-foot Offshore Supply Vessels for its shipyard customer. The transaction also included an escrow of the full purchase price of the vessels by the shipyard's customer. The letters of credit serve in some respects as a performance bond and required complicated draw and collateral provisions.

Obtained 14th judgment in favor of a home buyer in a Louisiana redhibition/fraud case after winning eight full appeals following a damages award in Bankruptcy Court. The defendants disputed the home buyer's request for additional attorneys' fees in connection with the continued appeals. The District Court ruled that the home buyer was entitled to all fees incurred to date, as well as additional fees incurred in the event of a third appeal to the Fifth Circuit.

Represented an energy company as main counsel in its bankruptcy proceeding, which involved $54 million in senior secured debt and approximately $50 million in remaining debt. Also represented the company and related entities in connection with financial and operational issue prior to the bankruptcy filing.

Secured a favorable verdict on behalf of a seller in Jefferson Parish, Louisiana, in a lawsuit involving an asset purchase sale in which the buyer committed a number of defaults under a promissory note and loan documents.

Successfully forced increased interest rates and a reduction in term in connection with a complex, contested Chapter 11 proceeding on behalf of a lending institution. The bankruptcy involved dueling appraisals, feasibility experts, cram-down interest rate issues and the 1111(b) election.

Represented the first lien lender in a $46 million multi-bank debt restructuring for a distressed vessel company.

Defended a vessel fleet company in the maritime arrest of one of its vessels. Pursued collection from the offshore marine company that hired the vessel.

Prevailed in the U.S. Court of Appeals for the Fifth Circuit, which upheld a district court's ruling in favor of our banking client regarding a claim brought under the Equal Credit Opportunity Act related to the Small Business Administration's Paycheck Protection Program.