Paul Hastings Advises Lenders in ZIPS Car Wash Chapter 11 Restructuring Exit

Paul Hastings LLP advised an ad hoc group of lenders in the Chapter 11 restructuring exit of Zips Car Wash, LLC (ZIPS). As a part of the confirmed Chapter 11 plan, ZIPS reduced its debt obligations and secured access to additional liquidity through a new revolving credit facility to support future strategic initiatives.

Financial Restructuring partners Justin Rawlins and Robert Nussbaum led the Paul Hastings team, which also included Finance partner Phil Ratner, Corporate partner Timothy Fesenmyer, Financial Restructuring partners Sal Perrotto and Charles Persons, Tax partner Lucas Rachuba, of counsel Dov Goodman, Vanessa Tarpos and Rob Wilson, and associates Jamal Baghlani, Kevin DeCeoursty, Matt Friedrick, Annie Yu and Ian Chang.

More details on the transaction can be found here.

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