UMB Bank held a security interest on all of the assets of Zilkha Biomass Selma LLC, a manufacturer of black pellets for the biomass energy market that filed for bankruptcy. UMB held a security interest on all of the debtor's assets to secure a $59.8 million bond issue by the debtor under a prepetition indenture of trust. The chapter 7 bankruptcy case involved the liquidation of the debtor's assets.
Waller represented UMB Bank, National Association, in the bankruptcy of the manufacturer as the bank served as bond trustee. Waller also facilitated the hiring of an auctioneer for the chapter 7 trustee's sale of the debtor's assets as a going concern under section 363 of the Bankruptcy Code, thereby providing the bond trustee with a viable alternative to a foreclosure sale with potential environmental concerns.
Represented a bank in providing a $40 million asset-based loan to finance the acquisition and operations of 28 skilled nursing and assisted living facilities in five states in a multi-stage transaction.
Represented the lender in $68.5 million in term, AR loans to the owners and operators of multiple skilled nursing facilities in Georgia.
Represented the lender in $17.8 million bridge loan to refinance a Michigan assisted living facility.