Paul, Weiss is advising certain CWT noteholders in the company’s recapitalization plan. CWT, a business-to-business-for-employees travel management platform, entered into an agreement with financial stakeholders representing over 90% of its outstanding debt. Under the terms of the agreement the recapitalization plan is expected to reduce CWT’s total debt by $900 million and provide $350 million of equity capital and substantial long-term liquidity. CWT expects to begin soliciting formal approval of the plan from its existing financial stakeholders in the next few weeks and to finalize implementation of the plan later this year. The Paul, Weiss team includes, among others, restructuring partners Brian Bolin, Brian Hermann and John Weber, and counsel Joe Graham; tax partner Brian Krause; corporate partners Jeffrey Marell and David Huntington, and counsel John Godfrey and David Curtiss; litigation partner William Clareman; executive compensation partner Lawrence Witdorchic; and antitrust counsel Marta Kelly.