We advised the ABL agent in connection with the chapter 11 bankruptcy case

Davis Polk advised 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 Corporation and its affiliated debtors (collectively, “Accuride”) filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The Bankruptcy Court confirmed Accuride’s plan of reorganization on February 12, 2025, and Accuride emerged from chapter 11 on March 7, 2025. In connection with the plan, the prepetition revolving lenders received an approximately $40.2 million paydown of outstanding prepetition ABL obligations and agreed to provide a new $70 million exit ABL facility at emergence.

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 included partner Eli J. Vonnegut, counsel Stephanie Massman and associate Motty (Mordechai) Rivkin. The finance team included partner Kenneth J. Steinberg, counsel Demian von Poelnitz and associates Matthew Vallade and Maggie Li. All members of the Davis Polk team are based in the New York office.

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