Transactions by MORGAN STANLEY (MS) in the last 6 months

Coda Holdings, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on May 1, 2013. The affiliates include Coda Automotive (CA), Inc. and EnergyCS, LLC. The debtor listed its assets of $24.95 million and liabilities of $95.86 million. The largest unsecured creditors include Hafei Motor Co., Ltd., Morgan Stanley, UQM Technologies, Inc., DPECO Co. Ltd., Faurecia (China) Holding ... Co. Ltd., Saturn Electronics & Engineering, Inc., KPMG LLP, Pilot Systems International, RLE International, Inc. and Droga5 LLC. The debtor is represented by L. John N. Bird, Jeffrey M. Schlerf and John H. Strock of Fox Rothschild LLP and John K Cunningham and Roberto J. Kampfner of White & Case LLP as its legal counsels. Albert Kass and Evan Gershbein of Kurtzman Carson Consultants, LLC are appointed as claims and noticing agents to the debtor for the retainer fee of $25000. Kurtzman Carson Consultants also acted as a administrative agent and received $25,000 as retainers fee. Emerald Capital Advisors Corp. acted as Chief Restructuring Officer for the debtor. Emerald Capital Advisors will charge a monthly fee of $40,000. Houlihan Lokey Capital, Inc. acted as financial advisor for the debtor. John K. Cunningham of White & Case LLP is appointed as special counsel to the debtor. William R. Baldiga, H. Jeffrey Schwartz, Bennett S. Silverberg and Aliza Reicher of Brown Rudnick LLP, and Gregory W. Werkheiser of Morris, Nichols, Arsht & Tunnell LLP acted as legal advisors to official committee of unsecured creditors. Deloitte Financial Advisory Services, LLP acted as financial advisor for the official committee of unsecured creditors and Duff & Phelps Securities, LLC acted as financial advisor for Coda Automotive. CODA Automotive, Inc., along with its affiliates,filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on May 1, 2013. The debtor seeks the Court’s approval for the sale of substantially all its assets to the stalking horse bidder, for a purchase price of $25 million in cash plus adjustment amount, if any and assumed liabilities pursuant to the asset purchase agreement. The debtor’s assets include intellectual property, equipment, inventory, real property, goodwill, etc. The sale shall be closed on second business day of hearing. The stalking horse bidder may credit bid all DIP obligations. At the auction, the subsequent bids would be in increments of at least $0.25 million of the bid offer. The cash deposit shall be of $1 million. The backup bidder shall remain open until the earlier of first business following sale consummation and 20 days after the sale order. To qualify as a qualified bidder, interested parties should submit their bids by May 31, 2013. The debtor has scheduled an auction on June 3, 2013. The sale objection deadline will be June 5, 2013. The sale hearing is scheduled for June 6, 2013. The US Bankruptcy Court granted an order for the joint administration of the Chapter 11 bankruptcy cases of CODA Automotive, Inc. and its affiliates on May 3, 2013. The affiliates include Coda Automotive (CA), Inc. and EnergyCS, LLC. The cases would be jointly administered for administrative and procedural purposes. CODA Automotive, Inc. has been designated as the lead debtor. The US Bankruptcy Court gave an order to CODA Automotive, Inc. to obtain DIP financing on a final basis on May 29, 2013. As per the order, the debtor has been authorized to obtain a term loan in the amount of $4.5 million from many DIP lenders. The Dip Lender Include FCO MA CODA Holdings LLC, Aeris Capital Archer, L.P., Aeris Capital AG, Miles EV Holdings Ltd., Christopher G. Kelly, Jr., George W. Wellde, Jr., Miles Rubin and others. FCO MA CODA Holdings LLC, an affiliate of Fortress Investment Group is also acting as administrative agent and Sidley Austin LLP is representing the agent as its counsel. The DIP loan would carry an interest rate of 6% p.a., along with an additional 2% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a commitment fee of 3% p.a. The DIP facility would mature either on June 30, 2013 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. The administrative fee would be $0.05 million. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.15 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The DIP facility shall be used to pay off Bridge loan and working capital needs. The US Bankruptcy Court gave an order to CODA Automotive, Inc. to obtain DIP financing on an interim basis on May 3, 2013. CODA Automotive, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets o
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Credit Suisse Group AG (SWX:CSGN) signed an agreement to acquire wealth management businesses in Europe, Middle East and Africa (EMEA) from Morgan Stanley (NYSE:MS) on March 27, 2013. The deal is excluding Switzerland region. The businesses acquired will be integrated into Credit Suisse's Private Banking & Wealth Management division. The deal is subject to certain closing conditions, it is expected to close later this year. Morgan Stanley acted as financial advisor to ... itself. Credit Suisse acted as financial advisor to itself. Richard Morrissey, Vanessa Blackmore, John Horsfield-Bradbury, Arvin Abraham, Alana Stelton, Michael McGowan, Eric Wang, Emma Hardwick, Louise Delahunty, Nicholas Storrs, Juan Rodriguez and Patrick Gorman of Sullivan & Cromwell LLP acted as legal advisors for Credit Suisse Group.
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Computershare Limited (ASX:CPU) entered into an agreement to acquire EMEA-based portion of Global Stock Plan Services business from Morgan Stanley (NYSE:MS) for $48.5 million in cash on February 27, 2013. The purchase price will be funded by cash and existing debt facilities. Global Stock Plan Services business recorded revenues of $22 million for year ended 2012. Martyn Drake, will become the Managing Director of Computershare’s UK Employee Share Plan business and will ... look into the integration of EMEA-based portion of Global Stock Plan Services business. The integration team will include senior staff from both Computershare and Global Stock Plan. The acquisition is expected to complete in May 2013. The acquisition is expected to be immediately Management EPS accretive. Morgan Stanley acted as financial advisor for Morgan Stanley (NYSE:MS).
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An unknown buyer acquired Arizona Commons II from Wells Fargo Bank, N.A. and Morgan Stanley (NYSE:MS) for $5.6 million on January 7, 2013. UC Funding LLC provided a $6.4 million bridge loan for the acquisition and renovation of the property. C-III Asset Management, LLC acted as special servicer for Wells Fargo Bank, N.A., as trustee for the holder of Morgan Stanley commercial mortgage pass through certificates, series 2006 – 1st Quarter 2012. David Fogler and Steven ... Nicoluzakis of Cassidy Turley Arizona’s Multi-Family Group brokered the transaction.
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