We are advising the ABL agent in connection with the restructuring

Davis Polk is advising the administrative agent and collateral agent under an asset-based revolving credit agreement among Accuride Corporation and other parties, in connection with Accuride’s chapter 11 restructuring. On October 9, 2024, Accuride and its affiliated debtors filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. In conjunction with the debtors’ postpetition financing, the prepetition revolving lenders agreed to allow the debtors to use their cash collateral in exchange for adequate protection liens and superpriority claims on all of the debtors’ prepetition assets and substantially all of the debtors’ postpetition assets. The Court approved the debtors’ access to cash collateral, along with the debtor-in-possession financing, on an interim basis at the debtors’ “first-day” hearing held on October 11, 2024.

Accuride is a diversified manufacturer and supplier of commercial vehicle components in North America. Based in Livonia, Michigan, the company designs, manufactures and markets commercial vehicle components. Accuride’s brands are Accuride Wheels, Gunite Wheel End Components and KIC Wheel End Components. Its products include commercial vehicle wheels, wheel-end components and assemblies.

The Davis Polk restructuring team includes partner Eli J. Vonnegut, counsel Stephanie Massman and associate Motty Rivkin. The finance team includes partner Kenneth J. Steinberg and associates Theodore N. Batis and Jee Young Kim. All members of the Davis Polk team are based in the New York office.

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