Binder Groesswang, working with Davis Polk & Wardwell, has advised Lone Star on the American Chapter 11 restructuring of GTT Communications.
"Lone Star is the largest lender to multinational telecommunications and internet services provider GTT Communications. GTT Communications was able to reduce its liabilities by USD 2.8 billion as a result of the restructuring," the firm announced. "The exit from the Chapter 11 process took place on December 30, 2022."
Operating since 1995, Lone Star is a private equity firm that advises funds investing in real estate, stocks, credit, and other financial assets.
The Binder Groesswang team included Partners Johannes Barbist, Regina Kroell, and Christine Dietz and Lawyer Christoph Raab.
Binder Groesswang was unable to disclose further information on the deal.