Ryan M. Scofield

Sidley represented Coupang, Inc. (Coupang), one of the world’s leading global retailers, in the completion of its acquisition of the business and assets of Farfetch Holdings plc (Farfetch), in a rescue deal through an English pre-pack administration process. Farfetch is a leading global marketplace for the luxury fashion industry. Coupang and certain funds managed and/or advised by Greenoaks Capital Partners, LLC (Greenoaks) had previously entered into a US$500 million bridge loan facility and a transaction support agreement with the Farfetch group in December 2023. This was done through a newly formed joint entity, Surpique LP, a Delaware limited partnership (formerly known as Athena Topco LP). The cross-jurisdictional team was led by partners Martin A. Wellington (M&A and Private Equity), Mark Knight (Restructuring), and Karen Goldstein (Global Finance), and senior managing associate Dhevine Chandrapala (Restructuring) alongside partners and teams from across several practice areas and offices, including: Restructuring (London): partner Jifree Cader, senior managing associate Dhevine Chandrapala, managing associate Luke Mason, associate Hannah Murray, and trainee solicitor Doris Beganovic; Global Finance (Dallas and London): senior managing associate Adam M. Nelson, managing associate Kendra Smith, and associates Henry Sasse and Chase M. Rowland; Corporate (Dallas and London): partners Ryan M. Scofield, Adam Runcorn, and Courtney J. Gilberg, senior managing associate Zoe Woodhouse, and associates Molly K. Byman, Jessica Edwards, and Stanley Amoah; Tax (Palo Alto and London): partners Jason Menzies and Rachel D. Kleinberg, and managing associate Ellie Verran; Litigation (New York): partner James Heyworth; and Antitrust and Competition (Washington, D.C. and Brussels): partners Ken Daly and Vadim Brusser, and associate Iva S. Todorova.~~Sidley represented Coupang, Inc. (Coupang), one of the world’s leading global retailers, in the completion of its acquisition of the business and assets of Farfetch Holdings plc (Farfetch), in a rescue deal through an English pre-pack administration process. Farfetch is a leading global marketplace for the luxury fashion industry. Coupang and certain funds managed and/or advised by Greenoaks Capital Partners, LLC (Greenoaks) had previously entered into a US$500 million bridge loan facility and a transaction support agreement with the Farfetch group in December 2023. This was done through a newly formed joint entity, Surpique LP, a Delaware limited partnership (formerly known as Athena Topco LP). The cross-jurisdictional team was led by partners Martin A. Wellington (M&A and Private Equity), Mark Knight (Restructuring), and Karen Goldstein (Global Finance), and senior managing associate Dhevine Chandrapala (Restructuring) alongside partners and teams from across several practice areas and offices, including: Restructuring (London): partner Jifree Cader, senior managing associate Dhevine Chandrapala, managing associate Luke Mason, associate Hannah Murray, and trainee solicitor Doris Beganovic; Global Finance (Dallas and London): senior managing associate Adam M. Nelson, managing associate Kendra Smith, and associates Henry Sasse and Chase M. Rowland; Corporate (Dallas and London): partners Ryan M. Scofield, Adam Runcorn, and Courtney J. Gilberg, senior managing associate Zoe Woodhouse, and associates Molly K. Byman, Jessica Edwards, and Stanley Amoah; Tax (Palo Alto and London): partners Jason Menzies and Rachel D. Kleinberg, and managing associate Ellie Verran; Litigation (New York): partner James Heyworth; and Antitrust and Competition (Washington, D.C. and Brussels): partners Ken Daly and Vadim Brusser, and associate Iva S. Todorova.

Feb 5

2 min

Sidley is representing Coupang, Inc., a global retailer, in its proposed acquisition of the business and assets of Farfetch Holdings plc, a global online luxury fashion marketplace, in a rescue deal, including a US$500 million bridge financing facility. Greenoaks Capital Partners, a global investment firm, will be taking part in the deal as Coupang’s investment partner. Details of the acquisition can be found in Coupang’s press release here. The global Sidley team is being led by partners Martin A. Wellington (M&A and Private Equity), Karen Goldstein (Global Finance), and Mark Knight (Restructuring), and includes Jifree Cader, Dhevine Chandrapala, Luke Mason, and Hannah Murray (Restructuring); Kelly M. Dybala (Global Finance); Ryan M. Scofield, Courtney J. Gilberg, and Molly K. Byman (M&A and Private Equity); Johnny G. Skumpija and John W. Stribling (Capital Markets); and Ken Daly and Vadim M. Brusser (Antitrust and Competition).~~Sidley is representing Coupang, Inc., a global retailer, in its proposed acquisition of the business and assets of Farfetch Holdings plc, a global online luxury fashion marketplace, in a rescue deal, including a US$500 million bridge financing facility. Greenoaks Capital Partners, a global investment firm, will be taking part in the deal as Coupang’s investment partner. Details of the acquisition can be found in Coupang’s press release here. The global Sidley team is being led by partners Martin A. Wellington (M&A and Private Equity), Karen Goldstein (Global Finance), and Mark Knight (Restructuring), and includes Jifree Cader, Dhevine Chandrapala, Luke Mason, and Hannah Murray (Restructuring); Kelly M. Dybala (Global Finance); Ryan M. Scofield, Courtney J. Gilberg, and Molly K. Byman (M&A and Private Equity); Johnny G. Skumpija and John W. Stribling (Capital Markets); and Ken Daly and Vadim M. Brusser (Antitrust and Competition).

Dec 20

1 min

Sidley is representing Altamont Capital Partners and Hadron in the launch of Hadron, a groundbreaking hybrid insurer focused on managing general underwriters (MGUs). Hadron is backed by over US$250 million in capital support from Altamont and other institutional investors. According to Hadron, the company “intends to bring significant underwriting capacity to the growing program space,” by combining “best-in-class underwriting and portfolio management technology with reliable, long-term insurance capacity.” The Sidley team is led by Tony Ribaudo (Insurance), Ryan Scofield (M&A), and John Grothaus (Insurance), and includes Michael Rosenfield, Jennifer Chae (both Insurance), Scott Pollock, Nathan Enfield, Lee Christie (all Tax), Jonathan Litsey (M&A), Ram Burshtine, Daniel Philion, Bill Turnbull, and John Jiang (all Global Finance).~~Sidley is representing Altamont Capital Partners and Hadron in the launch of Hadron, a groundbreaking hybrid insurer focused on managing general underwriters (MGUs). Hadron is backed by over US$250 million in capital support from Altamont and other institutional investors. According to Hadron, the company “intends to bring significant underwriting capacity to the growing program space,” by combining “best-in-class underwriting and portfolio management technology with reliable, long-term insurance capacity.” The Sidley team is led by Tony Ribaudo (Insurance), Ryan Scofield (M&A), and John Grothaus (Insurance), and includes Michael Rosenfield, Jennifer Chae (both Insurance), Scott Pollock, Nathan Enfield, Lee Christie (all Tax), Jonathan Litsey (M&A), Ram Burshtine, Daniel Philion, Bill Turnbull, and John Jiang (all Global Finance).

Nov 6

1 min

Sidley represented Carlyle in connection with a US$300 million purchase facility of equity-sharing home loans from Unison, a pioneer of equity sharing agreements. In addition, Sidley assisted Carlyle in making a strategic investment into Unison. This partnership will enable Unison to launch the Unison Equity Sharing Home Loan product and allow homeowners to access their growing pool of home equity as homes continue to appreciate. The Sidley team was led by T.J. Gordon, Jeffrey Glick, and Ryan Scofield, with assistance from Melissa Goldschmid, Kaylee Bean, and Jake Besanceney (Global Finance), Hannah Marshall (Private Equity and M&A), Sean Smith (Banking and Financial Services), and Richard Silverman and Mitchell Li (Tax).~~Sidley represented Carlyle in connection with a US$300 million purchase facility of equity-sharing home loans from Unison, a pioneer of equity sharing agreements. In addition, Sidley assisted Carlyle in making a strategic investment into Unison. This partnership will enable Unison to launch the Unison Equity Sharing Home Loan product and allow homeowners to access their growing pool of home equity as homes continue to appreciate. The Sidley team was led by T.J. Gordon, Jeffrey Glick, and Ryan Scofield, with assistance from Melissa Goldschmid, Kaylee Bean, and Jake Besanceney (Global Finance), Hannah Marshall (Private Equity and M&A), Sean Smith (Banking and Financial Services), and Richard Silverman and Mitchell Li (Tax).

Sep 20

1 min

Sidley successfully represented Stonepeak Infrastructure Partners (Stonepeak) in connection with the Chapter 11 cases of Akumin Inc. (Akumin), a leading national provider of outpatient radiology and oncology solutions. The restructuring transactions culminated in Stonepeak consummating a “loan to own” take-private transaction of the once publicly traded company and becoming the sole owner of the reorganized Akumin. In furtherance of going private, Akumin provided consideration to former public equity holders in the form of cash and contingent value rights. In addition to delisting from the Toronto Stock Exchange and Nasdaq, Akumin obtained novel approval from Canadian regulators to cease to be a reporting issuer and withdrew from its U.S. public reporting requirements. Through a prepackaged Chapter 11 bankruptcy case filed on October 22, 2023 in the U.S. Bankruptcy Court for the Southern District of Texas, Akumin deleveraged its approximately US$1.6 billion balance sheet by approximately US$600 million, including through a highly successful bespoke reverse Dutch election opportunity that enabled the company to buy back a portion of its existing notes at a discount. Upon emergence from the Chapter 11 process, Akumin stands significantly recapitalized through the contributions of Stonepeak, the issuance of new notes, and entry into a new revolving credit facility. The Sidley team representing Stonepeak includes Cliff Vrielink, Ryan Scofield, and George Vlahakos (M&A); Tom Califano and Anthony Grossi (Restructuring), Nick Schwartz and Mark Adler (Global Finance); Jon Zucker (Healthcare); Zack Pullin (Tax); John Kuster (Litigation); Kate Roberts (Labor, Employment and Immigration); Beatriz Azcuy (Real Estate); and Colleen Brown (Privacy and Cybersecurity). The team also includes Weiru Fang, Jason Hufendick, Ryan Fink, Maggie Alden, Michael Sabino, Nate Elner, Chelsea McManus, Veronica Courtney, Jake Landreth, and Daniela Rakowski (Restructuring); Shayona Schiely, Nicholas Prey, Dillyn Foy, Dimitris Fthenakis, and Shaobin Zheng (Global Finance); Samantha Seley, Tanner Groce, Courtney Luster, Amanda Patterson, Sean Nuernberger, Estella Serrano, John Walker, and Kelli McQuillan (M&A); Rina Mady, Meghan Weinberg, Francesca Ozinal, Kim Schroer, Gabrielle Feliciani, Sama Kahook, Taylor Andelman, Steve Komorek, and Josh Martin (Healthcare); Maureen Crough, Nicole Noëlliste, Jagdeep Singh, and Greta Carlson (Environmental); Andrew Smith and Ryan Kelly (Tax); Aimee Mackay and Katie Sreenan (Labor, Employment and Immigration); Edward Sharon (Antitrust/Competition); Ben Nager (Securities Enforcement/Regulatory); Connor Evans (Real Estate); John Skakun (Insurance); and Andrew Friedman (Investment Funds).~~Sidley successfully represented Stonepeak Infrastructure Partners (Stonepeak) in connection with the Chapter 11 cases of Akumin Inc. (Akumin), a leading national provider of outpatient radiology and oncology solutions. The restructuring transactions culminated in Stonepeak consummating a “loan to own” take-private transaction of the once publicly traded company and becoming the sole owner of the reorganized Akumin. In furtherance of going private, Akumin provided consideration to former public equity holders in the form of cash and contingent value rights. In addition to delisting from the Toronto Stock Exchange and Nasdaq, Akumin obtained novel approval from Canadian regulators to cease to be a reporting issuer and withdrew from its U.S. public reporting requirements. Through a prepackaged Chapter 11 bankruptcy case filed on October 22, 2023 in the U.S. Bankruptcy Court for the Southern District of Texas, Akumin deleveraged its approximately US$1.6 billion balance sheet by approximately US$600 million, including through a highly successful bespoke reverse Dutch election opportunity that enabled the company to buy back a portion of its existing notes at a discount. Upon emergence from the Chapter 11 process, Akumin stands significantly recapitalized through the contributions of Stonepeak, the issuance of new notes, and entry into a new revolving credit facility. The Sidley team representing Stonepeak includes Cliff Vrielink, Ryan Scofield, and George Vlahakos (M&A); Tom Califano and Anthony Grossi (Restructuring), Nick Schwartz and Mark Adler (Global Finance); Jon Zucker (Healthcare); Zack Pullin (Tax); John Kuster (Litigation); Kate Roberts (Labor, Employment and Immigration); Beatriz Azcuy (Real Estate); and Colleen Brown (Privacy and Cybersecurity). The team also includes Weiru Fang, Jason Hufendick, Ryan Fink, Maggie Alden, Michael Sabino, Nate Elner, Chelsea McManus, Veronica Courtney, Jake Landreth, and Daniela Rakowski (Restructuring); Shayona Schiely, Nicholas Prey, Dillyn Foy, Dimitris Fthenakis, and Shaobin Zheng (Global Finance); Samantha Seley, Tanner Groce, Courtney Luster, Amanda Patterson, Sean Nuernberger, Estella Serrano, John Walker, and Kelli McQuillan (M&A); Rina Mady, Meghan Weinberg, Francesca Ozinal, Kim Schroer, Gabrielle Feliciani, Sama Kahook, Taylor Andelman, Steve Komorek, and Josh Martin (Healthcare); Maureen Crough, Nicole Noëlliste, Jagdeep Singh, and Greta Carlson (Environmental); Andrew Smith and Ryan Kelly (Tax); Aimee Mackay and Katie Sreenan (Labor, Employment and Immigration); Edward Sharon (Antitrust/Competition); Ben Nager (Securities Enforcement/Regulatory); Connor Evans (Real Estate); John Skakun (Insurance); and Andrew Friedman (Investment Funds).

Feb 9

3 min