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After completing its restructuring, NJOY is majority-owned by Mudrick Capital Management, a multi-billion dollar investment firm which specializes in corporate turnarounds, and Mr. Teitelbaums Homewood Capital. Mr. Teitelbaum has previously led successful turnarounds, including Barneys New York, The Planet Hollywood Resort and Casino Las Vegas, Telcove, Inc. and Island One Intl. The United States Bankruptcy Court for the District of Delaware entered an order approving the transaction on November 15, 2016 for case number 16-12076 (CSS). NJOYs legal advisor in connection with the restructuring has been Kirkland & Ellis LLP. Batuta Advisors LLC was the Companys financial advisor for the restructuring. Mudrick Capital Management was represented by Neal, Gerber & Eisenberg LLP. About NJOY, LLC: NJOY, LLC is an independent electronic nicotine delivery system company.
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