On June 13, 2002, Archibald Candy (Canada) Corporation closed its $69 million debtor-in-possession loan from Foothill Capital Corporation and Ableco Finance LLC (or Cerberus Partners). The loan was put in place to allow Archibald to file for Chapter 11 protection in Delaware under the U.S. Bankruptcy Code and will provide financing for the company and its subsidiaries to restructure and emerge from bankruptcy. Archibald is a primary manufacturer and the parent of Sweet Factory Inc., a large U.S. candy company already in Chapter 11, and of Laura Secord, a Canadian corporation, which did not file for protection in Canada, but provided a guaranty for the DIP loan to its parent, Archibald.
Winston & Strawn acted for Archibald Candy, with a team that included Patrick Doyle, Matthew Bottica, Grace Shaff and Daniel McGuire in Chicago.
Torys LLP acted for Foothill Capital, with a team that included Manny Grillo, Jen Guerard, Jason Adams and Katie Liming (corporate) and Karrin Bonner (environmental) in New York, and Amanda Balasubramanian in Toronto provided legal advice in Canada concerning Laura Secord’s guaranty of the DIP loan. McMillan Binch also acted for Laura Secord, with a team that included Jeffrey Gollob, Wael Rostom, Sean Cooke and Jeffrey Rogers.
Schulte, Roth and Zabel LLP acted for Ableco Finance, with a team that included Frederic Ragucci, Lynn Tanner and Robert Mrofka in New York.
Winston & Strawn acted for Archibald Candy, with a team that included Patrick Doyle, Matthew Bottica, Grace Shaff and Daniel McGuire in Chicago.
Torys LLP acted for Foothill Capital, with a team that included Manny Grillo, Jen Guerard, Jason Adams and Katie Liming (corporate) and Karrin Bonner (environmental) in New York, and Amanda Balasubramanian in Toronto provided legal advice in Canada concerning Laura Secord’s guaranty of the DIP loan. McMillan Binch also acted for Laura Secord, with a team that included Jeffrey Gollob, Wael Rostom, Sean Cooke and Jeffrey Rogers.
Schulte, Roth and Zabel LLP acted for Ableco Finance, with a team that included Frederic Ragucci, Lynn Tanner and Robert Mrofka in New York.
