George J. Vlahakos

Sidley represented the selling unitholders (affiliates of Stonepeak Infrastructure Partners) in Energy Transfer LP’s underwritten secondary public offering of an aggregate of 38,755,996 common units representing limited partner interests, for total gross proceeds to the selling unitholders of approximately US$607.7 million. Barclays Capital Inc. served as the underwriter for the offering. The Sidley team was led by Alex Csordas and George J. Vlahakos and included Kunchok Yaklha. Energy Transfer LP owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with more than 130,000 miles of pipeline and associated energy infrastructure.~~Sidley represented the selling unitholders (affiliates of Stonepeak Infrastructure Partners) in Energy Transfer LP’s underwritten secondary public offering of an aggregate of 38,755,996 common units representing limited partner interests, for total gross proceeds to the selling unitholders of approximately US$607.7 million. Barclays Capital Inc. served as the underwriter for the offering. The Sidley team was led by Alex Csordas and George J. Vlahakos and included Kunchok Yaklha. Energy Transfer LP owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with more than 130,000 miles of pipeline and associated energy infrastructure.

Aug 15

1 min

On Friday, August 2, 2024, Sidley successfully obtained confirmation of Ebix Inc.’s Chapter 11 plan from the U.S. Bankruptcy Court for the Northern District of Texas. Ebix, which operates an insurance exchange platform as well as providing other financial services focused on the insurance industry, filed for Chapter 11 bankruptcy on December 17, 2023. In connection with the filing, Ebix reached a “stalking horse” agreement to sell its North American Life and Annuity assets to Zinnia Distributor Solutions, which sale ultimately closed on April 1, 2024. The Debtors then ran an extensive marketing process for their remaining assets and/or equity interests in non-Debtor subsidiaries, and the right to sponsor a plan of reorganization for the Debtors. A consortium of Eraaya Lifespaces Limited, Vikas Lifecare Limited, and Vitasta Software India Private Limited (the “Plan Sponsor”) was the successful bidder for the sponsorship of a plan of reorganization for the Debtors, and the Debtors were able to broker a global resolution between the Debtors, the Prepetition Lenders / DIP lenders, the Plan Sponsor, and the Unsecured Creditors Committee in advance of the confirmation hearing to present an uncontested confirmation hearing other than with respect to issues related to releases and exculpation provisions in the plan raised by the Office of the United States Trustee. Following a bench ruling, the Court confirmed the plan, commending the parties for a “marvelous job” done, specifically appreciating the consideration given to addressing the Court’s stated concerns regarding third-party releases (although ultimately requiring the removal of the third-party release opt-out provisions). This complex, cross-border matter involved lawyers and staff from the New York, Chicago, Los Angeles, Century City, Houston, Dallas, Washington, D.C., San Francisco, London, Singapore, and Hong Kong offices. The Sidley team included Tom Califano, Rakhee Patel, Ameneh Bordi, Jeri Leigh Miller, Weiru Fang, Molly Dyas, Luke Mason, Michael Sabino, Ibrahim Babiker, Siddhanth Goyal, Raphael Rabinowitz, Parker Embry, Ashrita Gulati, Jake Landreth, Joshua Lee, Jesse Lopez, Chelsea McManus, Joshua Oeij, Andreas Rauch, Francesca Sadler, and Chris Yu (Restructuring); Nicholas Schwartz, Mark Adler, Julie Ann Rosenberg Lamm, Pietro Fontana, Daniel Lindsey, Bill Turnbull III, Shaobin Zheng, Wilfred Ong, and Horine Ye (Global Finance); S. Scott Parel, Justin Macke, Jessica Pisani, Nick DeAngelis, Staci Alexander, Amanda Patterson, Ryan Lim, Sarah Kang, Ellen Heighten, Henry Dickinson, Rachel Ang, Caulyn Bong, Micaela Hannah, and Amanda Gonzalez (M&A/Private Equity); Suresh Advani, Richard Silverman, Oliver Currall, Mitchell Li, Molly Homann, Tyler Replogle, Alice Qin (Tax); Gregory Jacobs, John Kuster, Jon Muenz, and Katelin Everson (Commercial Litigation and Disputes); James Mendenhall, Carys Golesworthy, Kayla Scott, and Ryan Tan (Global Arbitration, Trade and Advocacy); Kristina Gliklad, Vadim Brusser, Edward Sharon, and Jamie Sadler (Antitrust and Competition); Kostian Ciko, Prabhat Mehta, and Istvan Hajdu (Capital Markets); Mary Niehaus and Gregory Matisoff (Employee Benefits and Executive Compensation); Walter Carlson and Andrew Kunsak (Securities and Shareholder Litigation); David Lashway and John W. Woods Jr. (Privacy and Cybersecurity); E. Kyle Barnett (Technology and Life Sciences Transactions); Stephanie Dobecki (Insurance); Elizabeth McCloy (Real Estate); Carlton Fleming (Emerging Companies and Venture Capital); Scott Heyman (Tax Controversy); Katherine Roberts (Labor, Employment and Immigration); and George Vlahakos (Energy and Infrastructure).~~On Friday, August 2, 2024, Sidley successfully obtained confirmation of Ebix Inc.’s Chapter 11 plan from the U.S. Bankruptcy Court for the Northern District of Texas. Ebix, which operates an insurance exchange platform as well as providing other financial services focused on the insurance industry, filed for Chapter 11 bankruptcy on December 17, 2023. In connection with the filing, Ebix reached a “stalking horse” agreement to sell its North American Life and Annuity assets to Zinnia Distributor Solutions, which sale ultimately closed on April 1, 2024. The Debtors then ran an extensive marketing process for their remaining assets and/or equity interests in non-Debtor subsidiaries, and the right to sponsor a plan of reorganization for the Debtors. A consortium of Eraaya Lifespaces Limited, Vikas Lifecare Limited, and Vitasta Software India Private Limited (the “Plan Sponsor”) was the successful bidder for the sponsorship of a plan of reorganization for the Debtors, and the Debtors were able to broker a global resolution between the Debtors, the Prepetition Lenders / DIP lenders, the Plan Sponsor, and the Unsecured Creditors Committee in advance of the confirmation hearing to present an uncontested confirmation hearing other than with respect to issues related to releases and exculpation provisions in the plan raised by the Office of the United States Trustee. Following a bench ruling, the Court confirmed the plan, commending the parties for a “marvelous job” done, specifically appreciating the consideration given to addressing the Court’s stated concerns regarding third-party releases (although ultimately requiring the removal of the third-party release opt-out provisions). This complex, cross-border matter involved lawyers and staff from the New York, Chicago, Los Angeles, Century City, Houston, Dallas, Washington, D.C., San Francisco, London, Singapore, and Hong Kong offices. The Sidley team included Tom Califano, Rakhee Patel, Ameneh Bordi, Jeri Leigh Miller, Weiru Fang, Molly Dyas, Luke Mason, Michael Sabino, Ibrahim Babiker, Siddhanth Goyal, Raphael Rabinowitz, Parker Embry, Ashrita Gulati, Jake Landreth, Joshua Lee, Jesse Lopez, Chelsea McManus, Joshua Oeij, Andreas Rauch, Francesca Sadler, and Chris Yu (Restructuring); Nicholas Schwartz, Mark Adler, Julie Ann Rosenberg Lamm, Pietro Fontana, Daniel Lindsey, Bill Turnbull III, Shaobin Zheng, Wilfred Ong, and Horine Ye (Global Finance); S. Scott Parel, Justin Macke, Jessica Pisani, Nick DeAngelis, Staci Alexander, Amanda Patterson, Ryan Lim, Sarah Kang, Ellen Heighten, Henry Dickinson, Rachel Ang, Caulyn Bong, Micaela Hannah, and Amanda Gonzalez (M&A/Private Equity); Suresh Advani, Richard Silverman, Oliver Currall, Mitchell Li, Molly Homann, Tyler Replogle, Alice Qin (Tax); Gregory Jacobs, John Kuster, Jon Muenz, and Katelin Everson (Commercial Litigation and Disputes); James Mendenhall, Carys Golesworthy, Kayla Scott, and Ryan Tan (Global Arbitration, Trade and Advocacy); Kristina Gliklad, Vadim Brusser, Edward Sharon, and Jamie Sadler (Antitrust and Competition); Kostian Ciko, Prabhat Mehta, and Istvan Hajdu (Capital Markets); Mary Niehaus and Gregory Matisoff (Employee Benefits and Executive Compensation); Walter Carlson and Andrew Kunsak (Securities and Shareholder Litigation); David Lashway and John W. Woods Jr. (Privacy and Cybersecurity); E. Kyle Barnett (Technology and Life Sciences Transactions); Stephanie Dobecki (Insurance); Elizabeth McCloy (Real Estate); Carlton Fleming (Emerging Companies and Venture Capital); Scott Heyman (Tax Controversy); Katherine Roberts (Labor, Employment and Immigration); and George Vlahakos (Energy and Infrastructure).

Aug 9

5 min

Sidley represented Morgan Stanley Energy Partners and its portfolio company, Durango Midstream LLC, a leading natural gas gathering, processing, and marketing company, in connection with the sale of Durango Midstream’s subsidiary, Durango Permian LLC, which owns and operates a world-class midstream business in New Mexico, to Kinetik (NYSE: KNTK), a midstream company operating in the Delaware Basin. Kinetik agreed to acquire Durango Permian for aggregate consideration of US$765 million, which is composed of approximately US$315 million of cash, 11.5 million Kinetik Class C common stock and an equivalent number of Common Units in Kinetik Holdings LP issued to Durango Midstream in two installments (3.8 million shares and units at closing and 7.7 million shares and units on July 1, 2025) and US$75 million in contingent cash consideration. The Sidley team was led by Cliff Vrielink, Chris Folmsbee, and George Vlahakos (Energy and Infrastructure), and included assistance from Eduardo Marquez Certucha and John Brannan III (Energy and Infrastructure); Heather Palmer (Environmental); Zack Pullin and Aaron Mitchell (Tax); Kiana Shin, Meredith Kuykendall, and Alex Thompson (Energy and Infrastructure).~~Sidley represented Morgan Stanley Energy Partners and its portfolio company, Durango Midstream LLC, a leading natural gas gathering, processing, and marketing company, in connection with the sale of Durango Midstream’s subsidiary, Durango Permian LLC, which owns and operates a world-class midstream business in New Mexico, to Kinetik (NYSE: KNTK), a midstream company operating in the Delaware Basin. Kinetik agreed to acquire Durango Permian for aggregate consideration of US$765 million, which is composed of approximately US$315 million of cash, 11.5 million Kinetik Class C common stock and an equivalent number of Common Units in Kinetik Holdings LP issued to Durango Midstream in two installments (3.8 million shares and units at closing and 7.7 million shares and units on July 1, 2025) and US$75 million in contingent cash consideration. The Sidley team was led by Cliff Vrielink, Chris Folmsbee, and George Vlahakos (Energy and Infrastructure), and included assistance from Eduardo Marquez Certucha and John Brannan III (Energy and Infrastructure); Heather Palmer (Environmental); Zack Pullin and Aaron Mitchell (Tax); Kiana Shin, Meredith Kuykendall, and Alex Thompson (Energy and Infrastructure).

May 10

2 min

Sidley represented Southwestern Electric Power Company, a subsidiary of American Electric Power Company, Inc., in the issuance of Series 2024-A Senior Secured Storm Recovery Bonds valued at US$336.7 million to recover certain storm recovery costs, including carrying charges, related to Hurricanes Laura and Delta and winter storm Uri, and fund a new storm recovery reserve account. The team was led by Robert Stephens, George Vlahakos, Mario Samos, and Evan Grosch and included Enrrique Santa Cruz, Zayn Mian, Tanner Groce (all Energy and Infrastructure), Angela Richards (Tax), and Carla Teodoro (Investment Funds).~~Sidley represented Southwestern Electric Power Company, a subsidiary of American Electric Power Company, Inc., in the issuance of Series 2024-A Senior Secured Storm Recovery Bonds valued at US$336.7 million to recover certain storm recovery costs, including carrying charges, related to Hurricanes Laura and Delta and winter storm Uri, and fund a new storm recovery reserve account. The team was led by Robert Stephens, George Vlahakos, Mario Samos, and Evan Grosch and included Enrrique Santa Cruz, Zayn Mian, Tanner Groce (all Energy and Infrastructure), Angela Richards (Tax), and Carla Teodoro (Investment Funds).

Dec 20

1 min

Sidley represented Howard Midstream Energy Partners, LLC (Howard Energy Partners) in connection with its high-yield Rule 144A offering of US$600 million aggregate principal amount of 7.375% Senior Notes due 2032, and its concurrent cash tender offer to purchase any and all of its outstanding 6.75% Senior Notes due 2027. Howard Energy Partners is a diversified, purpose-driven energy infrastructure company focused on providing abundant, clean, low cost, reliable energy that powers communities and businesses and helps people flourish. Howard Energy Partners owns and operates a portfolio of critical energy infrastructure in Texas, New Mexico, Oklahoma, Pennsylvania, and Mexico that is strategically positioned to serve the world’s current and future energy needs. The Sidley team was led by partners George Vlahakos and Johnny Skumpija, and included Tanner Groce, John Stribling, Gabriella Tang, and Amanda Ibrahim.~~Sidley represented Howard Midstream Energy Partners, LLC (Howard Energy Partners) in connection with its high-yield Rule 144A offering of US$600 million aggregate principal amount of 7.375% Senior Notes due 2032, and its concurrent cash tender offer to purchase any and all of its outstanding 6.75% Senior Notes due 2027. Howard Energy Partners is a diversified, purpose-driven energy infrastructure company focused on providing abundant, clean, low cost, reliable energy that powers communities and businesses and helps people flourish. Howard Energy Partners owns and operates a portfolio of critical energy infrastructure in Texas, New Mexico, Oklahoma, Pennsylvania, and Mexico that is strategically positioned to serve the world’s current and future energy needs. The Sidley team was led by partners George Vlahakos and Johnny Skumpija, and included Tanner Groce, John Stribling, Gabriella Tang, and Amanda Ibrahim.

Jun 18

1 min