USA

Nationwide

Bankruptcy/Restructuring


Bankruptcy/Restructuring - Nationwide

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Basic facts about the department
Key offices include New York, Dallas and Washington, DC.

What the team is known for Leading creditors' committee practice that has recently expanded its work on the company side. Wide-reaching national presence with a range of talent handling work for bondholders, noteholders, trustees and secured lenders. Recognized wealth of experience in the real estate, energy, shipping and healthcare industries.

Strengths (Quotes mainly from clients)
"They have a tremendous bench strength - more depth than any firm I have seen."

"There is a constant backdrop of personnel who are all consistently strong, which makes for a uniform and consistent service across the firm."

Work highlights Acted for the Official Committee of Unsecured Creditors in the Edison Mission Energy bankruptcy case. The group investigated transactions between the debtor and parent company Edison International, filed breach of fiduciary and other claims against the parent company and negotiated with stakeholders in the debtor's coal-generating facilities in order to maximize return for the unsecured creditor clients.

Represented the Official Committee of Unsecured Creditors in the international bankruptcy case of Nortel Networks. The case has involved asset and patent portfolio sales worth nearly $8 billion as well as significant cross-border complexities, tax negotiations and settlements with the Nortel Networks UK Pension Trust. 

Notable practitioners  

Daniel Golden has recently represented CEVA Group in its out-of-court restructuring, leading negotiations for a settlement with holders of second-lien notes and senior unsecured debt in a successful reorganization. He is acknowledged as being "clearly one of the leaders in the industry" and is well regarded for his work with creditors' and bondholders' committees.

Ira Dizengoff is regarded as a "very commercial lawyer who gets the business side of things." His practice largely focuses on creditor-side engagements, working with bondholders, acquirers of distressed assets and DIP financiers. He has also recently worked with Atari in its Chapter 11 restructuring of approximately $325 million in debt.

Fred Hodara heads the firm's restructuring group. He works predominantly with committees and financial institutions, with recent cases including the representation of the Official Committee of Unsecured Creditors in the Overseas Shipholding Group Chapter 11 case. Interviewees credit him as "a good consensus builder."

Charles Gibbs is praised by interviewees for being "exceptional - he's so good that he's in demand by lots of people. He is very experienced, so he knows how to manage expectations." He works from the firm's Dallas, Texas office with institutional lenders, bondholders and distressed assets purchasers.

Michael Stamer is described by clients as a "very mature, pragmatic and practical attorney who is never caught off guard or unprepared." His practice includes work for creditors' committees and acquirers of distressed assets, with recent work including the representation of an ad hoc group of noteholders in the Eastman Kodak bankruptcy.

Significant clients Official Committee of Unsecured Creditors of Excel Maritime Carriers, Official Committee of Unsecured Creditors of Hawker Beechcraft, Official Committee of Unsecured Creditors of St Vincent's Catholic Medical Centers.

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Basic facts about the department
Key office is New York.

What the team is known for Highly respected for both litigation and advisory work for leading financial institutions acting as administrative agents or lenders in bankruptcy matters. Substantial debtor-side practice working with distressed companies in a range of sectors, including the airline, manufacturing and energy industries.

Strengths (Quotes mainly from clients)
"A great client focus and responsiveness with a deep knowledge, deep bench and deep expertise."

"They have an extremely strong team." 

Work highlights Represented JPMorgan Chase as a senior pre-petition lender with claims of over $8.5 billion, in the Tribune bankruptcy case. The matter involved litigation to see a plan successfully confirmed in spite of objections, with the client and other senior lenders eventually obtaining 98% of the stock issued in the newly restructured company.

Acted for Patriot Coal in its Chapter 11 proceedings, DIP financing and other litigation related to the restructuring of the company. The group oversaw a successful confirmation of the plan of reorganization and reached a collective bargaining agreement with the United Mine Workers of America that will fund retiree healthcare benefits through a trust funded by a 35% stake in the reorganized company. 

Notable practitioners  

Donald Bernstein is described as "extremely responsive, very practical and commercial." He is cochair of the firm's restructuring group, handling cases for debtors, creditors and acquirers of distressed companies and assets, with recent work including advising leading financial institutions that must submit plans of risk management under the requirements of the Dodd-Frank Act.

Marshall Huebner is praised for being "instrumental in breaking stalemates in negotiations because he can come up with concepts and arguments to unlock a deal." His practice includes work with both financial institutions and distressed companies. Huebner recently led the representation of Lehman Brothers International and UK Lehman affiliates in their claims against Lehman Brothers Holdings.

Significant clients Bank of America, Citigroup, Pinnacle Airlines, Goldman Sachs, Morgan Stanley, PwC.

Band 1 | Jones Day

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Basic facts about the department
Key offices include New York, Los Angeles, Dallas and Cleveland.

What the team is known for Comprehensive practice working with distressed companies in major bankruptcy cases with the capacity also to handle creditor-side engagements for committees and leading lender institutions. Depth of experience in handling significant municipal bankruptcy matters as well as in bankruptcy-related litigation.

Strengths (Quotes mainly from clients)
"Very smart, thorough and tenacious in their approach to cases. They understand the issues and think things through."

"They have some of the smartest lawyers who are very creative and willing to work out a consensual deal and not always to litigate."

Work highlights Represented the City of Detroit in its Chapter 9 filing and restructuring of its debt and obligations. The group has worked to implement restructuring proposals, negotiating with the city's key constituents to seek a consensual confirmation of a plan of reorganization.

Acted for Hostess Brands and its affiliates in its Chapter 11 bankruptcy filing that sought to reorganize over $800 million in debt. The case involved substantial litigation against unions and other employee groups over labor cost changes and negotiating the sale of assets worth $850 million through auction.  

Notable practitioners  

Corinne Ball is regarded as "one of the premier names in the practice" and "as sharp and as battle-ready as they come." She is cochair of the New York restructuring group and has a wealth of experience in the reorganization and sale of distressed companies. She recently acted as part of the debtor's counsel in Hostess Brands' Chapter 11 bankruptcy filing.

Bruce Bennett is known as "one of the smartest lawyers out there," and is reputed by market observers to be "excellent at strategic thinking." He is highly experienced in working with debtors, creditors and lenders in complex reorganizations. Major recent representations include acting for the Senior Lender Group in the Tribune bankruptcy.

Paul Leake is "excellent at taking a lead role in the situation and can explain things succinctly to the senior people at a company," say sources. He is the leader of the firm's restructuring group and handles cases for clients on all sides of bankruptcy matters. In the past year he acted for World Fuel Services in the Chapter 15 case of STX Pan Ocean.

David Heiman is highly regarded in the Ohio bankruptcy market for his work on major Chapter 11 cases with clients including debtors, lenders and creditors, among others. He has recently defended Peabody Energy against adversary proceedings after its former subsidiary, Patriot Coal, filed for bankruptcy.

Heather Lennox is "a very accomplished lawyer - highly regarded by adversaries and the court," say sources. She has a comprehensive practice working with clients in bankruptcy cases, out-of-court reorganizations and also in bankruptcy-related litigation. She recently led the restructuring and asset sale in the Hostess Brands Chapter 11 bankruptcy.

Richard Wynne is considered to be "very experienced and very knowledgeable in the bankruptcy area," offering a comprehensive practice working with debtors, official and ad hoc creditors' committees and lenders. He recently represented FGIC, the cochair of the official creditors' committee in the Residential Capital bankruptcy.

Significant clients Pilatus Aircraft, MF Global Ad Hoc Group of Lenders, Travelport Noteholder Group and ComputerShare, RBS, Franklin Advisers.

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Basic facts about the department
Key offices include New York and Chicago.

What the team is known for Dominant debtor-side practice handling some of the nation's largest Chapter 11 cases and out-of-court restructurings. Skilled in finding solutions to reorganization problems through creative means, with experience in managing DIP financing agreements, sale of distressed assets, debt for equity exchanges and consensual settlements with creditors.

Strengths (Quotes mainly from clients)
"They have a great ability to understand the big picture and strategy as well as having the in-depth technical knowledge in every aspect." 

"They are endlessly creative and they have deep relationships in the restructuring industry that allow the client to benefit from the credibility they have built up."

Work highlights Represented Platinum Energy Systems, a Texas oilfield services provider, in a comprehensive out-of-court restructuring. The matter included an exchange offer for the client's 14.25% senior secured notes.

Represented AMF Bowling and its subsidiaries in a Chapter 11 case that saw a global settlement reached with unsecured creditors' recoveries exceeding expectations, first lien noteholders being paid in full and second lien noteholders receiving a substantial majority of post-reorganization equity.

Notable practitioners  

Richard Cieri is described as a "superstar" and interviewees say "he is the gold standard of US restructuring lawyers." He recently led the firm's representation of Ally Financial and Ally Bank after their subsidiary, Residential Capital, filed for bankruptcy.

Clients regard James Sprayregen as someone who can "carry a great deal of gravitas on high-level issues." He is active in both the Chicago and New York offices of the firm and has recently led the representation of what was formerly known as Hawker Beechcraft in its successful reorganization of $2.5 billion in funded debt.

Paul Basta is praised by interviewees for being "pretty amazing and very, very smart." His practice involves work with debtors, creditors and investors. Work highlights include acting for MSR Resort Golf Course and its affiliates in a Chapter 11 case that involved the sale of four resort golf courses to provide a 100% recovery for creditors.

Jonathan Henes wins plaudits for his work with debtors, creditors' committees, private equity firms and hedge funds. Clients comment that he "has got good judgment and is good on his feet in court." Recent work has included providing advice to Cengage Learning after it filed for Chapter 11 bankruptcy.

Marc Kieselstein is based in Chicago with a practice that includes significant work for debtors and creditors in Chapter 11 cases, debt transactions and Section 363 sales. He recently worked on the pre-packaged Chapter 11 cases of Dex One and SuperMedia that provided for a merger between the two distressed companies. 

Edward Sassower has significant experience working for a wide range of clients in the energy, shipping, real estate and manufacturing industries. Interviewees say he has a "great understanding of the impact of decisions on business."

Anup Sathy is based in the firm's Chicago office and is described by clients as a "phenomenal lawyer." His broad practice includes representing distressed companies in bankruptcy filings, handling debt-for-equity exchanges for corporate investors, and advising distressed asset purchasers and DIP lenders. 

Significant clients Global Aviation Holdings, Longview Power, Hanesbrands, Prommis Holdings, Edison Mission Energy.

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Basic facts about the department
Key offices include New York and Los Angeles.

What the team is known for Predominantly a creditor-side shop dealing with official and ad hoc groups of unsecured creditors and groups of noteholders and first lien lenders. Experienced practitioners that are able to advise distressed companies and represent companies involved in Chapter 11 proceedings.

Strengths (Quotes mainly from clients)
"They are absolutely outstanding - high quality and very responsive. I think very highly of them."

"They have a very strong bench both in terms of quality and quantity."

Work highlights Acted for the Official Committee of Unsecured Creditors in the Arcapita Bank Chapter 11 case, which involved the reorganization of approximately $2.55 billion in debt. The distinguishing feature of the case was the debtor's global role as a Shari'a-compliant investment bank, which required novel solutions in an untraditional bankruptcy case.

Counseled the Official Committee of Unsecured Creditors in the ATP Oil & Gas Chapter 11 bankruptcy proceedings. The group worked with its clients to establish DIP financing and the eventual sale of assets to the DIP financier as part of a successful settlement for unsecured creditors.

Notable practitioners  

Dennis Dunne is co-head of the firm's restructuring group. He recently handled work for US Bank as the administrative agent to a $1.5 billion credit agreement with Overseas Shipholding Group, which had filed for Chapter 11 bankruptcy protection. Clients say he "is very good and has a well-deserved reputation."

Paul Aronzon works with financially distressed companies and creditors in bankruptcy cases and out-of-court workouts, using a range of debt-for-equity exchanges, distressed asset sales and other tools to maximize return for his clients. He recently counseled Franklin Advisors in relation to its $1 billion bond holdings in Dynegy.

Gerard Uzzi is described as being "very creative in his solutions to various issues and is also good at moving forward with negotiations." His practice is varied, working with both debtors and creditors, with recent cases including the representation of junior secured noteholders in the Residential Capital bankruptcy proceedings.

Matthew Barr is credited by interviewees for "knowing how to get to a resolution in a case." His skills are predominantly utilized in working for creditors, debtors and investors in distressed companies. In the past year he acted for LightSquared, a telecommunications company, in its Chapter 11 filing and attempted recapitalization.

Significant clients Ad Hoc Committee of AMR creditors, Official Committee of Unsecured Creditors of Eastman Kodak, Ad Hoc Group of First Lien Lenders in Cengage Learning, Deutsche Bank, Wells Fargo.

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Basic facts about the department
Key office is New York.

What the team is known for Diverse practice with an international and domestic client base that includes debtors, secured and unsecured creditors' committees, and equity sponsors and purchasers of distressed assets. Expertise in the corporate, finance, litigation and M&A departments lends itself well to maintaining a well-rounded bankruptcy group.

Strengths (Quotes mainly from clients)
"They have a very deep practice group, they are very thoughtful and they produce a great product."

"They are good, solid, practical deal-makers." 

Work highlights Worked for a group of Senior Secured Lenders to Nine Entertainment Group, an Australian-based media company with over $2 billion in debt. The reorganization arrangement led to the transfer of equity to the lenders, who eventually became the principal equity holders of the restructured company.

Acted for Citigroup and its affiliates in bringing claims against Lehman Brothers International for $1.292 billion. The group was successful in achieving a settlement that allowed the client to exercise $1.04 billion of the claims against the defendant while maintaining $252 billion in unsecured claims.

Notable practitioners  

Alan Kornberg is praised as "a statesman of the bankruptcy Bar whose senior experience shows in the quality of his work. He is very commercial, sensible and thrives in difficult circumstances." Recent engagements include acting for School Specialty in the restructuring of $525 million of debt under Chapter 11 protection. 

The "very impressive" Andrew Rosenberg is praised for the deal-making ability he brings to a case. He works predominantly with ad hoc committees of creditors and bondholders, with recent engagements including the representation of an ad hoc group of lenders in the CEVA bankruptcy case.

Stephen Shimshak is highly regarded by interviewees who note the quality of his litigation skills and the efficiency of his work. Recent matters include advising Oak Hill Capital Management in connection with the restructuring of Southern Air Holdings.

Significant clients Angelo, Gordon & Co, Apollo Global Management, Ericsson, Oak Hill Capital Partners and Silver Point Capital.

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Basic facts about the department
Key offices include New York, Chicago, Los Angeles and Wilmington.

What the team is known for Major domestic and international company-side engagements in Chapter 11 proceedings, pre-packaged bankruptcy cases and out-of-court restructurings. Significant skill in working with creditors and investors, leveraging the firm's strong M&A, capital markets and finance expertise in dealing with clients' needs.

Strengths (Quotes mainly from clients)
"They are very practical and super-smart. They know how to get commercial deals done and they do what's best for the client as quickly as possible."

"Very collegial and very smart people that are able to drive deals and give clients the best advice."

Work highlights Acted for Exide Technologies, a leading manufacturer of batteries, after it filed for voluntary bankruptcy. The group worked to secure DIP financing worth $500 million for the company prior to filing for Chapter 11 protection as part of a lengthy restructuring of the business.

Represented Excel Maritime Carriers and its subsidiaries after it filed for Chapter 11 protection. An agreement was reached with senior secured lenders that provided the company with additional liquidity prior to filing and the group negotiated with the unsecured creditors committee to gain confirmation of a consensual plan of reorganization.

Notable practitioners  

Jay Goffman is the global leader of the firm's corporate restructuring group and is credited for being a "phenomenal consensus builder" who "prides himself on driving deals as opposed to driving litigation." In the past year he continued to represent Excel Maritime Carrier in its cross-border Chapter 11 case.

George Panagakis is based in Chicago with a client base that includes companies requiring complex debt restructurings and leading financial institutions involved in bankruptcy cases as agents or DIP financiers. His recent work has included representing Synagro Technologies, facilitating DIP financing and a sale of the company's assets worth $465 million.

Gregory Milmoe brings a wealth of experience to the restructuring group and is heralded as a seasoned expert in the area of Chapter 11 filings, out-of-court restructurings, distressed M&A work, debt for equity exchanges and loan workouts.

Kenneth Ziman deals with distressed companies and lenders with loans in distressed companies, recently taking a key role in the representation of Exide Technologies through its Chapter 11 proceedings. He is praised as an "incredibly smart and persuasive" attorney.

Significant clients Savient Pharmaceuticals, Anchor BanCorp Wisconsin, Ipsen Pharma, LifeCare Holdings, Pfizer.

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Basic facts about the department
Key offices include New York and Dallas.

What the team is known for Large, complex debtor-side engagements in many of the most prominent bankruptcy cases nationwide. Applies a range of restructuring solutions, including debt-for-equity exchanges and pre-packaged Chapter 11 plans, alongside work for lenders, creditors and distressed asset purchasers in cases that involve DIP financing and stalking-horse bidding.

Strengths (Quotes mainly from clients)
"The preeminent bankruptcy firm in the USA with a full complement of expertise and an understanding of the pragmatics and dynamics of how cases work."

"They have huge depth and can staff any case with responsive and nice people and there are not many others that can do that. At all levels - junior to senior - they are great."

Work highlights Counseled AMR and its affiliates, which include American Airlines, in Chapter 11 proceedings required to restructure the $29.5 billion in liabilities recorded at the time of filing. The company sought and achieved confirmation for a plan that provided for reorganization through a merger with US Airways.

Acted for the Ad Hoc Committee of Senior Noteholders, who were also the DIP lenders, in the Chapter 11 case of K-V Pharmaceutical and its affiliates. The group negotiated and achieved approval for the DIP facility and sought a consensual confirmation of a plan of reorganization with major stakeholders that provided full recoveries for the noteholders.

Notable practitioners 

Harvey Miller is held in high esteem as the "dean of the American bankruptcy Bar" and has an impressive track record in representing clients in major national bankruptcies. He has continued to oversee work in the bankruptcy case of Lehman Brothers Holdings, which recently involved distributions to creditors and the settling of claims with Lehman Brothers International.

Restructuring group chair Marcia Goldstein impresses clients with a longstanding practice working with domestic and international companies in distress along with other stakeholders in bankruptcy proceedings. She recently led the firm's representation of the joint special administrators to MF Global UK.

Stephen Karotkin has been a lead partner for the firm in the AMR Chapter 11 case and is described by interviewees as being "very smart and very effective." His practice predominantly focuses on work with troubled companies, but he also does significant work with leading lender institutions.

Lori Fife is praised for being "smart, very efficient, knowledgeable and hands-on in day-to-day matters." She handles work for debtors, banks and asset purchasers, among other bankruptcy constituents, with recent work including her lead role in handling the bankruptcy of Lehman Brothers Holdings.

Martin Sosland, based in the firm's Dallas office, focuses his practice on major debtor-side representation. He also works on creditors' rights and distressed M&A matters, with the diversity of his skills exemplified in his representation of EQT Partners in its role as the stalking horse bidder and equity purchaser in the Synagro Technologies bankruptcy.

Gary Holtzer is "an exceptionally hard-working and passionate lawyer," say sources. His recent engagements have included managing FGIC's role in the City of Detroit Chapter 9 bankruptcy case.

Alfredo Perez practices from the firm's Houston office and is noted for his breadth of expertise in working with companies in need of restructuring, creditors and distressed debt investors. In the past year he has been a key part of the teams handling the Lehman Brothers Holdings, AMR and FGIC bankruptcies.

Significant clients Washington Mutual, Readers Digest, Silver Point Capital, Barclays, Citibank.

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Basic facts about the department
Key office is New York.

What the team is known for Significant work on behalf of debtors and individual creditors in the domestic market, along with recognized expertise pertaining to Latin America. Provides significant value to clients involved in cross-border bankruptcy cases filed in the USA. Recent industry expertise includes shipping, media and telecommunications.

Strengths (Quotes mainly from clients)
"The firm's reputation is great and they have good individual practitioners."

"It goes without saying that they are very good, especially where they are involved with financial institutions."

Work highlights Represented SuperMedia in a prepackaged Chapter 11 case that involved a merger with Dex One, which also filed for Chapter 11 protection, to create the new Dex Media company.

Worked for an ad hoc group of bondholders in the Maxcom Telecommunication restructuring proceedings. The group worked with the client to negotiate an agreement with the Mexican debtor that paved the way for recapitalization and the confirmation of a plan of reorganization.

Notable practitioners  

The "smart and talented" James Bromley is chair of the firm's restructuring group. He has particular expertise in cross-border restructuring matters and works widely with debtors, creditors and other interested parties. Recent highlights include acting for Overseas Shipholding Group in its Chapter 11 case, dealing with international lenders in the process.

Lisa Schweitzer is praised by interviewees as "a very skilled attorney and an accomplished litigator." Her practice focuses on work with debtor companies, individual creditors and investors in distressed assets. She has worked with Fintech Advisory as the major creditor in the Vitro bankruptcy case in the past year.

Significant clients American Roads, Wilmington Trust, Nortel Networks, Bank of New York, HSBC.

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Basic facts about the department
Key office is New York.

What the team is known for Strong creditors' committee practice routinely representing official unsecured creditors' committees in major Chapter 11 filings. Handles significant work for lending institutions and ad hoc groups of noteholders, and has recently handled debtor-side engagements in the shipping and healthcare sectors.

Strengths (Quotes mainly from clients)
"They are very professional in how they handle matters. I think they are very good at dealing with clients and are able to cut some very astute deals."

"They have a tremendous amount of experience with the partners that lead the group having been involved in major US bankruptcy cases." 

Work highlights Acted for the Official Committee of Unsecured Creditors in the Hostess Brands bankruptcy case, which involved $2 billion in unsecured debt. The group was originally involved in labor negotiations and post-liquidation sought to maximize recoveries for the committee in the sale of assets.

Represented the indenture trustees, Bank of New York Mellon and Law Debenture Trust, with regard to $2 billion in bonds linked to seven airports in the American Airlines bankruptcy case. The case has involved the reinstatement of $1.72 billion of those bonds and further negotiations as part of the plan of reorganization for the debtor.

Notable practitioners  

Thomas Mayer has worked for stakeholders in major Chapter 9 municipal bankruptcy filings and is a leading authority on representing creditors' committees. Recent engagements include representing creditors' committees in the Hostess Brands and WP Steel Venture cases.

Kenneth Eckstein is celebrated for his work in some of the nation's biggest cases, with engagements including the official creditors' committees in the Residential Capital and Patriot Coal bankruptcies. Clients say "he is a smart guy and he has a good temperament."

Significant clients General Maritime, St Vincent Catholic Medical Centres, Creditors' Committee for AES Eastern Energy, JPMorgan Chase.

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Basic facts about the department
Key offices include New York, Chicago and Los Angeles.

What the team is known for Broad-based practice representing financially troubled companies, the purchasers of distressed assets, DIP and exit financiers and leading financial institutions acting as bank agents.

Strengths (Quotes mainly from clients)
"A great firm with really deep resources to deal with all manner of surprises that might arise in a case. They thrive on complex restructuring matters with no straightforward route."

"They bring a really high level of talent to a case. They have the ability to see a case from all sides."

Work highlights Continued to represent US Airways in its acquisition of American Airlines, the subsidiary of AMR that filed for Chapter 11 bankruptcy protection in 2011. The group worked with the client to negotiate a deal with the debtor company that successfully underpinned a plan of reorganization acceptable to creditors.

Acted as debtor counsel for A123 Systems, a developer and manufacturer of batteries that received government funding for its business, in its Chapter 11 restructuring. The case involved a cross-border distressed M&A deal with the Chinese auto parts manufacturer Wanxiang America, purchasing almost all of the client's assets for $256.6 million.

Notable practitioners  

Interviewees say David Heller "focuses on finding workable solutions among various competing interests." He concentrates his practice on the representation of secured and unsecured lenders and distressed companies. Recent engagements have included representing The Carlyle Group as an equity holder in the bankruptcy case of Synagro Technologies.

The "fantastic and well-renowned" Jan Baker is the global chair of the firm's restructuring practice and has built a practice working with a comprehensive range of bankruptcy clients, from debtors to lenders. In the past year he has led the firm's work for US Airways in its acquisition of American Airlines.

Peter Gilhuly is described by interviewees as "a very, very strong lawyer." His California-based practice has involved acting for Prana Studios in its acquisition of the visual effects studio Rhythm & Hues.

Mitchell Seider frequently acts for lenders, creditors' committees and bondholders, with one client saying: "I would use him where a holistic outlook was needed on complex issues - where you need a creative mind." Seider led the representation of Goldman Sachs in a Shari'a-compliant DIP and exit credit facility in the bankruptcy case of Arcapita Bank.

Significant clients Bank of America, Centerbridge Partners, Deutsche Bank, Goldman Sachs, RHI Entertainment, The Yucaipa Companies.

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Basic facts about the department
Key office is New York.

What the team is known for Leading creditor-side practice working with a range of clients holding stakes in major bankruptcy cases. Experts in handling national and international acquisitions of distressed debt on behalf of hedge funds and private equity firms.

Strengths (Quotes mainly from clients)
"They are commercial, helpful and constructive and do lots of smart work."

"One of the firms I would go to in a major bankruptcy with a great deal of exposure for us."

Notable practitioners  

Harold Novikoff is chair of the restructuring and finance group at the firm and is described as "an outstanding creditors' lawyer with great knowledge of complex financial arrangements." His practice also includes work on debt restructurings for bankrupt companies and negotiating on behalf of bondholders, purchasers and lenders.

The "very, very bright" Scott Charles specializes in distressed M&A matters alongside representing various constituents, including lenders, creditors and creditors' committees, in various bankruptcy matters. He is considered to be a thought leader in the areas of pre-packaged Chapter 11 cases, DIP financing and creditors' rights matters.

Richard Mason is well regarded for work on the creditor-side of bankruptcy cases, with experience handling matters on behalf of ad hoc groups and committees of bondholders and creditors, as well as for purchasers of assets in distressed companies and borrowers seeking leveraged buyouts.

Philip Mindlin is commended by market commentators for his "great intellect." He handles a wide range of matters, including complex transactions on behalf of the buyers and sellers of distressed debt and other loan workouts, guiding clients through asset bids and debt-for-equity exchanges.

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Basic facts about the department
Key office is New York.

What the team is known for Strong debtor shop handling cases for companies under Chapter 11 protection, negotiating reorganization plans with a myriad of other stakeholders. Additional expertise in working with investor groups, first and second lien noteholders, individual creditors and major national banks acting as administrative agents to DIP financing and pre-petition lending agreements.

Strengths (Quotes mainly from clients)
"Very smart people that are able to drive deals and give clients the best advice."

"A really multifaceted group. They are terrific in the courtroom, they understand what our needs and goals are and constantly work to make sure those are achieved." 

Work highlights Counseled a group of investors, including Monarch Alternative Capital and Stonehill Capital Management, in residential mortgage-backed securities issues by the bankrupt company Residential Capital and its affiliates.

Represented K-V Pharmaceutical and its affiliates in its Chapter 11 bankruptcy filing. The group negotiated a consensual plan with DIP financiers and junior and senior noteholders after extensive litigation that would provide full recoveries for senior noteholders, share purchase agreements for junior noteholders and some distributions to unsecured creditors.

Notable practitioners  

Marc Abrams mirrors the firm's diverse practice as a "great all-around lawyer" with a practice that spans engagements for debtors, creditors and lenders. Recent work highlights include acting for strategic investors in the Residential Capital bankruptcy case, which required tough litigation over residential mortgage-backed securities.

Matthew Feldman is described by clients as "very practical, very intelligent and so talented." His work has recently included debtor-side engagements for Rural/Metro and K-V Pharmaceutical, which were both resolved successfully through plans of reorganization.

The "very smart, imaginative, intuitive and hard-driving" Margot Schonholtz is noted for her expertise in the area of lender and creditor representations. She works for agents to lender groups, creditors' committees and commercial lenders in bankruptcy proceedings and out-of-court settlements.

Significant clients Barclays Bank, Platinum Equity, Take-Two Interactive Software, Silver Point Finance, Bank of America.

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Basic facts about the department
Key offices include Boston and New York.

What the team is known for Predominantly known for its bankruptcy litigation practice, which largely involves advocating for ad hoc and official creditors' committees in complex restructuring situations. Additional expertise in working with investors, public debt holders and trade creditors in a range of industries ranging from the automotive to healthcare sectors.

Strengths (Quotes mainly from clients)
"They are extremely bright and creative. They are smart lawyers that have a nose for finding value where others can't."

"They have strong technical skills and the ability to get up in a courtroom and convince a judge."

Work highlights Counseled the Official Committee of Unsecured Creditors in the Dewey & LeBoeuf bankruptcy case and subsequently represented the Liquidation Trustee after a plan of conformation was reached. The group worked with the trustee to pursue claims against certain of the debtor's former partners, which subsequently led to the court confirming the terms of a settlement.

Represented an Ad Hoc Consortium of Unsecured Noteholders in the Central European Distribution Corporation's Chapter 11 bankruptcy case. The client group was regarded as a creditor that would not receive any recovery, but the firm negotiated and secured a 35% cash payout for the noteholders.

Notable practitioners  

Robert Stark is described as "very smart, very responsive and a pleasure to work with" by interviewees. His practice incorporates work with creditor and equity committees, debtors and investors. He recently led the representation of the Official Committee of Unsecured Creditors in the School Specialty bankruptcy.

Interviewees say Edward Weisfelner has "lots of experience and presence and he commands respect." He recently acted for the Ad Hoc Consortium of Second Lien Noteholders in the distressed situation facing Texas Competitive Electric Holdings and he works more widely with creditor committees, indenture trustees and equity holders.

Significant clients Special Committee of Board of Directors in Allied Systems Holdings, Official Committee of Unsecured Creditors to A123 Systems, Official Committee of Equity Security Holders to KIT digital.

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Basic facts about the department
Key office is New York.

What the team is known for Comprehensive practice working with debtors, individual creditors, creditors' committees, agents for lender groups and trustees. Recent experience in dealing with cases in the hospitality, retail and airline industries enhances its healthy reputation in the real estate mortgage and insurance space.

Strengths (Quotes mainly from clients)
"In terms of both strategy and settlements they have done a great job making complex legal issues understandable to the layman."

"They are a no-nonsense, efficient group - when you work with them you work with the senior partners." 

Work highlights Represented the Official Creditors' Committee of Unsecured Creditors in the Ambac Financial Group bankruptcy case. The case involved disputes with the debtor, a monoline financial guaranty insurer, the debtor's parent company and the IRS, among other stakeholders, and eventually reached a global settlement that increased the value of bonds held by creditors.

Acted for the Official Committee of Unsecured Creditors in the Chapter 11 case of Pinnacle Airlines. The group secured favorable DIP financing agreements for its clients and negotiated a plan of reorganization that converted claims into ownership stakes in the debtor after the restructuring.

Notable practitioners  

Brett Miller is praised for being "direct and very analytical - he is good at analyzing the issues and assessing the motivations of other parties." He works closely with clients across the spectrum of bankruptcy matters, representing the Chapter 11 Trustee in the MF Global Holding case and Wells Fargo Bank, the largest creditor in the Extended Stay bankruptcy case.

Gary Lee is the chair of the firm's restructuring group and receives praise for his "unbelievably good" negotiation skills and "unflappable" manner. He led the debtor representation in the major Chapter 11 filing of Residential Capital and works more widely on cross-border matters and cases of distressed debt acquisitions.

Significant clients Triad Guaranty, Eurohypo, Official Committee of Unsecured Creditors of PMI Group.

第三等 |

Basic facts about the department
Key offices include New York and Los Angeles.

What the team is known for Handles contentious and high-stakes matters that require experienced litigators to deal with a range of disputes arising from bankruptcy cases. Works with a range of individual creditor clients and creditors' committees to maximize recoveries as well as defending against and acting for liquidation and litigation trusts bringing claims against a range of stakeholders in bankruptcy proceedings.

Strengths (Quotes mainly from clients)
"They are outstanding - a terrific staff of lawyers with particularly excellent bankruptcy litigation people."

"They are experienced in what the latest developments in the law are and they can answer questions intelligently with the experts inhouse to address the follow up."

Work highlights Acted for the Liquidating Trust of Washington Mutual with regards to objections to claims arising from the bankruptcy. The group objected to claims filed by underwriters, successfully subordinating the claims below that of unsecured creditors. The team subsequently challenged the validity of the claims and reached a settlement that increased the cash distribution to other creditors.

Represented the SNTL Corporation Litigation Trust in its $780 million dispute with JPMorgan Bank, concerning the bank's requirement under the insurance group's Chapter 11 plan to distribute tax savings to SNTL's creditors.

Notable practitioners  

The "outstanding" Susheel Kirpalani is praised for his "fantastic conflict litigation work" and for his "great analytical skills and experience." He represented the unsecured creditors' committee of Lehman Brothers Holdings in $8 billion fraudulent transfer litigation against JPMorgan Chase Bank.

Significant clients AIG, Allstate Insurance, Massachusetts Mutual Life Insurance, Prudential Insurance Company of America, MSR Hotels & Resorts.

第三等 |

Basic facts about the department
Key offices include Chicago and Los Angeles. 

What the team is known for Primarily noted for debtor-side work, representing major corporate clients in reorganizations and Chapter 11 filings. Particularly strong on media industry matters. Also represents senior debt holders and creditors' committees, including large institutional investors. Active on municipality bankruptcies and public sector debt matters.

Strengths (Quotes mainly from clients)
"They have done major matters. They are excellent - high-profile cases and solid performers."

Work highlights Represented Tribune Company, a national newspaper and broadcast media organization, in its Chapter 11 bankruptcy proceedings before the US Bankruptcy Court for the District of Delaware.

Advised electricity utility Dynegy Holdings and related corporate entities on its Chapter 11 bankruptcy. At the time of the Chapter 11 filing in the US Bankruptcy Court for the Southern District of New York, the company's total liabilities, along with those of its affiliated entities, exceeded $6.2 billion.

Notable practitioners 

Lawrence Nyhan is described as "very impressive" by market observers. He recently advised Yarway, a manufacturer of steel products, through its Chapter 11 filing in Delaware.

James Conlan is primarily a debtor's lawyer, taking the lead on Chapter 11s and corporate restructurings. He also recently represented creditor GSO Capital Partners as lead claim holder to tanker operator Overseas Shipholding Group under a $1.5 billion revolving credit facility. He cochairs the firm's corporate reorganization and bankruptcy practice.

Significant clients GE Capital, Lee Enterprises, Merisant, Owens Corning, Smurfit-Stone Container.

第三等 |

Basic facts about the department
Key office is New York.

What the team is known for Widely regarded in the market for its representation of senior debt holders, including major financial institutions with large exposures to Chapter 11 bankruptcies. Impressive breadth of practice, encompassing bankruptcy court advocacy and peripheral litigation, and capital markets and tax advice. Also noted for the expertise of its bankruptcy team in related M&A matters.

Strengths (Quotes mainly from clients)
"Extremely smart guys and very commercial."  

"A top-notch New York firm without a doubt." 

Work highlights Advised JPMorgan Chase on the restructuring and subsequent Chapter 9 bankruptcy petition of Jefferson County, Alabama, including a number of pending lawsuits against third parties. The bank holds over $1.2 billion of the County's special revenue and general obligation warrants.

Represented Deutsche Bank in the prepackaged Chapter 11 bankruptcy petition of publishing company Lee Enterprises. The plan of bankruptcy included restructuring efforts, inter-creditor agreements, a debtor in possession financing mechanism and an ultimate exit facility.

Notable practitioners  

Peter Pantaleo is very well regarded by peers and clients and gains recognition as "a first choice on banking work" in bankruptcy cases. He represented equity backstop provider GSO in confirming the bankruptcy plan of Kodak.

Significant clients Angelo Gordon, Apax Partners, Barclays Capital, Centerbridge Partners, Deutsche Bank.

第四等 |

Basic facts about the department
Key offices include Atlanta, Chicago, Dallas and Miami.

What the team is known for Respected operator in the midmarket on behalf of debtors, but with capacity to handle very high-value matters. Acts for creditors including private equity houses on bankruptcy court proceedings and related litigation matters. Represents Section 363 purchasers of distressed assets in high-value acquisition transactions.

Strengths (Quotes mainly from clients)
"They are strong in the bankruptcy world, but they are also very good with clients. They give a lot of senior attention to a case and day-to-day the partners are involved."

"One of the benefits is that they have such a breadth of knowledge in the creditors' rights area and are also able to pull on other areas of the firm to get the right expertise in cases."

Work highlights Acted for FriendFinder Networks on a restructuring and Chapter 11 bankruptcy petition. The online social networking company and its associated entities restructured $234 million of first lien debt and $290 million in second liens through a Transaction Support Agreement, which was implemented through a Chapter 11 filing.

Represented the Indianapolis Downs Liquidating Trust in its restructuring and sale of substantially all of the Shelbyville, Indiana racetrack and casino operator's assets. The sell-off was approved by the Bankruptcy Court for one dollar over Indianapolis Downs' $600 million total indebtedness.

Notable practitioners  

Mark Bloom in of the firm's Miami office primarily acts on the creditor side in large-scale reorganizations and bankruptcies, and also focuses on distressed asset purchases. "He has a way of being able to take very complex matters and crystallize them into salient and crisp points that can be worked through," clients report.

Significant clients Fortress Capital, Elliott Management, Rialto Capital Advisors of New York, Liberty Healthcare Group, NatureSweet.

第四等 |

Basic facts about the department
Key office is New York.

What the team is known for Represents bondholders, hedge funds, private equity and institutional investors in reorganizations and bankruptcies. Noted in the market for its tough representation of unsecured creditors and other parties requiring a litigation-ready legal team in bankruptcy matters.

Strengths (Quotes mainly from clients)
"I find them to be very talented. They have the effect on the other side of making them want to settle, otherwise they will pay a lot to lose."

"A strong firm that does very well in situations that have a heavy litigation component."

Work highlights Advised investment fund Harbinger Capital Partners in the Chapter 11 bankruptcy of LightSquared, a wireless-services company, including a related Adversary Complaint against Dish Network and Charles Ergen.

Represented Five Mile Capital Partners as mezzanine debtor of MSR Resort Golf Course in Chapter 11 bankruptcy and in litigation concerning alleged collusion by other debtors over the terms of a stalking horse bid for the company's assets.

Notable practitioners  

David Friedman acts for capital funds as both secured and unsecured creditors as well as equity holders, directors and officers of debtor companies. He is noted for his tenacity in representing clients involved in high-stakes litigation arising out of bankruptcies. "He is a star - he is fantastic and I could not be more thrilled by the firm," enthused one happy client.

David Rosner represents liquidating trustees as well as acting on the creditor side for large institutional investors. "He is a very strong creative litigator, who knows the industry and how to litigate to his clients' interests - he's generally excellent," one peer commented.

Significant clients Donald Trump, Federal Housing Finance Authority, Centerbridge Capital Partners, David Lichtenstein, Law Debenture Trust Company of New York.

第四等 |

Basic facts about the department
Key office is Los Angeles.

What the team is known for Recognized for the caliber of its senior bankruptcy attorneys. Very active representing municipalities in high-profile Chapter 9 bankruptcies, as well as acting on the creditor side in high-value Chapter 11 matters.

Strengths (Quotes mainly from clients)
"They are a powerhouse west of the Mississippi." 

"The Klee, Tuchin group is very, very strong."

Work highlights Represented Jefferson County, Alabama in its $4 billion Chapter 9 bankruptcy. This matter is second only to the bankruptcy of the City of Detroit as the largest Chapter 9 municipal bankruptcy in history.

Advised Japanese multinational Suzuki on the restructuring of its American subsidiary American Suzuki and its network of automobile and motorcycle dealerships through a Chapter 11 process. This included an acquisition of American Suzuki's motorcycle, marine and all-terrain vehicle assets.

Notable practitioners 

Fellow bankruptcy lawyers are unanimous in their high regard for Kenneth Klee, who is considered a "towering intellect" and a "top-tier bankruptcy lawyer" by interviewees. He recently represented the town of Mammoth Lakes, California in its Chapter 9 bankruptcy proceedings.

Lee Bogdanoff represents debtors including municipalities and also significant noteholders and other creditors. "He is an incredibly smart guy," enthused one client; "he knows the law very well and he is very creative, constantly coming up with unique solutions - exceptionally sharp."

Michael Tuchin acts for creditors in workouts and bankruptcies, and represented the debtor in the Chapter 11 filing of sportsware retailer Pacific Sunware of California. "He is not just good, he is extraordinary," one client reports, while another notes that he was a "very stabilizing and practical ballast to proceedings. He's been a fabulous leader and done a great job."

Significant clients Ableco Finance, Paramount Pictures, WMI Liquidating Trust, Anadarko Petroleum, Thorpe Insulation.

第四等 |

Basic facts about the department
Key offices include Los Angeles, New York and Wilmington.

What the team is known for Represents debtors, creditors' committees and trustees in Chapter 11 cases. Conflict-free and able to act as conflicts counsel on either side in large-scale bankruptcies. Particular expertise in out-of-court resolutions and workouts, and on avoidance actions.

Strengths (Quotes mainly from clients)
"They've done a very effective job; they're a niche boutique firm that is very skilled and effective in bankruptcy litigation."

"We go to them when it is a very significant case and we need a firm who are able to stick with it and have the resources to withstand the fights we are going to have."

Work highlights Advised the creditors' committee of ResCap as conflicts counsel on the mortgage company's $15 billion Chapter 11 bankruptcy. The firm acted on litigation concerning lien securities of over $2 billion of debt owed to noteholders.

Represented debtor Pacific Energy Resources in $500 million Chapter 11 proceedings. The upstream oil and gas development business and its assets were sold and unsecured creditors recovered 100 cents on the dollar plus partial interest.

Notable practitioners  

Los Angeles-based bankruptcy attorney Richard Pachulski frequently represents debtors, creditors' committees and bankruptcy trustees in high-value reorganizations and bankruptcies. One client asserts: "Rich Pachulski is a prince, a gentleman and a scholar. He's tough and has business knowledge. And he has a deep intellectual side to him."

Significant clients American Suzuki, Circuit City, SS Body Armor, Lehman Brothers, Mesa Air Group.

第四等 |

Basic facts about the department
Key offices include New York and Chicago.

What the team is known for Represents all parties to significant bankruptcies and reorganizations, acting for creditors' committees, debtors, trustees and Section 363 purchasers. Experts on out-of-court workouts and avoidance of bankruptcy. Representation of borrowers is the primary focus of the Chicago office.

Strengths (Quotes mainly from clients)
"The firm is excellent in the representation and value it provides. They were a true partner in problem solving."

"They are commercially minded, very knowledgeable and offer a direct approach to providing solutions for clients. They do a very good job of building consensus in a very contentious environment."

Work highlights Advised Rotech Healthcare and 114 subsidiary entities on its $619 million restructure under Chapter 11. The home oxygen equipment manufacturer repaid the full amount of its first lien indebtedness and converted all second lien notes into stock in the reorganized company.

Represented the Statutory Creditors Committee of MF Global Holdings, the commodities brokerage which collapsed in 2011 owing more than $39 billion. The Chapter 11 bankruptcy plan was approved in 2013.

Notable practitioners  

Martin Bienenstock has a "deep understanding of the bankruptcy law and is tireless in his pursuit of the best plan possible for the company," reports one impressed client. He acts for debtors, creditors and trustees in high-value restructurings and bankruptcies. He also assists asset purchasers with distressed M&A transactions.

Significant clients NewPage Corp, Assured Guaranty Insurance, Capmark Financial Group, HMX, Ocala Funding.

第四等 |

Basic facts about the department
Key offices include New York and Miami.

What the team is known for Global law firm frequently representing clients in major international bankruptcies and restructurings. Noted for its strong advocacy, particularly on behalf of funds, frequently representing secured and unsecured creditors.

Strengths (Quotes mainly from clients)
"They are extremely responsive, they produce a very high quality of work, they are savvy and they really have exceptional judgment."

Work highlights Advised secured creditors with holdings of $1.8 billion in LightSquared, in Chapter 11 protection proceedings. The wireless broadband services provider was restructured, resulting in the auctioning-off of certain assets and an ultimate asset purchase agreement. 

Represented Major League Baseball in the LA Dodgers' Chapter 11 bankruptcy. A loan workout process led to the $2.15 billion sale of the baseball franchise and its assets to new owners.

Notable practitioners  

Global head of financial restructuring and insolvency Thomas Lauria divides his time between the firm's New York and Miami offices, and is well regarded in both markets as a tough, client-focused bankruptcy litigation attorney. He is described by peers as "a very smart and very good lawyer." He represents all parties to bankruptcies and workouts.

Significant clients Blackstone Group, Nordea Bank, iGPS, Deutsche Bank, GlobalStar.

第五等 |

Basic facts about the department
Key office is New York.

What the team is known for Advises financial institutions and other key creditors on high-value Chapter 11 matters. Very active on large international bankruptcy cases and related Chapter 15 proceedings in the USA. Often represents creditors' committees in reorganizations and bankruptcies.

Strengths (Quotes mainly from clients)
"They brought the right specialization to the table and they were really good at working across department lines."

"They really think things through. They act deliberately and methodically and help walk us through the issues to get to a solution - a real pleasure to work with."

Work highlights Advised Citigroup Global Markets on the Chapter 11 bankruptcy of Extended Stay Hotels. The firm defended Citigroup against $2.1 billion allegations of aiding and abetting and fraudulent conveyance claims brought by the litigation trust.

Represented the joint liquidators of A.B.C. Learning Centres, an Australian early education services provider, in Chapter 15 proceedings filed in Delaware and a subsequent appeal to the US Court of Appeals for the Third Circuit. The liquidators were seeking the recognition of the Australian liquidation process as foreign main proceedings and protection of the debtor's US assets.

Notable practitioners

Howard Seife is a "smart, business-oriented consensus builder," clients report. He is recognized in the market for his expertise representing financial institutions and creditors' committees, and has recently acted for examiners and liquidating trustees on high-value bankruptcies. He also has a wealth of experience on cross-border bankruptcy matters.

Significant clients AIG Instruments and Financial Services, NextExtra Energy Resources, HSBC Bank USA, AES, Octaviar Administration Pty.

第五等 |

Basic facts about the department
Key office is New York.

What the team is known for Noted for its representation of debtor companies in distressed asset transactions and corporate structure reorganizations. A strong presence on restructurings in the airline and insurance sectors. Also acts for a number of large investors, including private equity houses.

Strengths (Quotes mainly from clients)
"There are always quality people on a case, you get the very best people throughout the firm and they have a real consistency of quality and intellectual depth."

"The group has long-term, in-depth knowledge of the industry and they know our goals and our interests as a client. They bring the right people, the right attention and the right balance of senior and junior partners on the team."

Work highlights Advised American Airlines on the restructuring of aircraft purchase agreements and related finance arrangements, in addition to acting in a dispute over $1.3 billion of bond payments.

Advised MBIA on the restructuring of $2 billion of liabilities and potential bankruptcy of its insurer subsidiary MBIA Corp. The subsidiary avoided bankruptcy after settlement of litigation.

Notable practitioners  

One of Richard Hahn's clients says: "He's matter-of-fact and direct - there's no drama, which makes things more efficient and brings things to a conclusion more quickly and with less cost and damage along the way." Peers admire this "even-keeled attorney" and note his "strong cross-over" between debtor and creditor work. 

Significant clients Culligan, Oaktree Capital Management, Ripplewood Holdings, HarbourVest Partners, Morgan Stanley Capital Partners.

第五等 |

Basic facts about the department
Key offices include Chicago, Wilmington and Miami.

What the team is known for Global firm recognized for its strong bankruptcy offering in a number of US markets. Often acts for funds, both as creditors and on distressed M&A transactions. Also represents debtors in out-of-court reorganizations and bankruptcy proceedings.

Strengths (Quotes mainly from clients)
"They were able to explain to us, in layman's terms, the options and risks and let us make a business decision, which is the mark of great lawyers."

Work highlights Acted as cross-border counsel to a committee of Canadian creditors on the international bankruptcy of Nortel Networks, involving corporate entities across the globe. The firm represented the creditors in $9 billion litigation in both Canada and the USA over distribution of asset proceeds.

Advised Ahern Rentals, an equipment hire and maintenance company, on its Chapter 11 bankruptcy filed in Nevada. The approved bankruptcy plan will result in a full payout to creditors and retention of equity by all stockholders.

Notable practitioners 

Gregg Galardi is "ferocious and formidable in court because of his encyclopedic knowledge of bankruptcy law and his multilateral thinking," clients enthuse. He represents debtors and creditors in Chapter 11 proceedings and workouts, and cochairs the firm's global restructuring practice.

Significant clients West Penn Alleghany Health System, Education Holdings 1, Virginia United Methodist Homes of Williamsburg, Mercantile Bancorp, Orchard Supply Hardware Store.

第五等 |

Basic facts about the department
Key offices include Houston, Dallas, Fort Worth and New York.

What the team is known for A market-leading bankruptcy practice in Texas, with additional resources available in the New York market. Very active on high-value restructurings and bankruptcies in the oil and gas sector.

Strengths (Quotes mainly from clients)
"A very deep and very good bench that I wouldn't hesitate to work with at any time. They are honest, creative, hard-working and very smart, and offer great partner involvement."

"What stands out is their objectivity, fast response and willingness to see problems and difficult situations from different perspectives." 

Work highlights Represented the Idearc Litigation Trust in a $9 billion fraudulent transfer lawsuit against Verizon and its former directors. The firm had previously acted as co-counsel to the official creditors' committee in Idearc's Chapter 11 bankruptcy.

Advised Centennial Beverage Group, a Texas-based wine and spirits retailer, on pre-petition asset sales, Chapter 11 proceedings, and the sell-off of its remaining assets after filing. At the time of filing for bankruptcy, the debtor owed $48.5 million.

Notable practitioners 

Robert Albergotti represents clients across the full range of bankruptcy and restructuring matters, including creditors, debtors and asset purchasers. He is often retained for business-critical corporate reorganizations and out-of-court workouts.

Charles Beckham is "a really effective and smart guy," sources say. He recently represented Credit Suisse as Texas counsel in the Chapter 11 bankruptcy of upstream energy operator ATP Oil & Gas.

Clients described Robin Phelan as "creative, user-friendly, hard-working and very smart." He acts for debtors and creditors in Chapter 11 cases, as well as representing the acquirers of distressed assets.

Significant clients AMR, Rabobank, Crédit Agricole Corporate and Investment Bank, Amegy Bank, Bank of Scotland.

第五等 |

Basic facts about the department
Key offices include New York and Chicago.

What the team is known for A creditors' rights practice frequently representing some of the largest banks, both as individual lenders and as syndicated loan arrangers in large-exposure bankruptcy matters. Acts for both secured and unsecured creditors on reorganizations and Chapter 11 cases.

Strengths (Quotes mainly from clients)
"They are very strong on technical restructuring matters and have a great business sense."

"The group have skill in identifying the legal issues and their client's goal - they listen to the client and know how to achieve results." 

Work highlights Represented upstream energy operator ATP Oil & Gas in its $3 billion Chapter 11 bankruptcy, including a sale of assets under Section 363 of the Bankruptcy Code.

Advised JPMorgan Chase on the Chapter 7 bankruptcy of Peregrine Financial Group, a commodities broker whose owner Russell Wasendorf was convicted of stealing more than $200 million from the company. The Bank acted as depository bank, counterparty to foreign currency exchanges, and issued letters of credit.

Notable practitioners 

Co-head of the global restructuring, bankruptcy and insolvency practice Brian Trust's clients include major financial institutions. Clients say: "When Brian speaks everyone stops to listen - he commands enormous respect within the bankruptcy community. He is a consummate lenders' lawyer who understands business and is always interested in getting the right business result."

Significant clients Bank of America, Barclays, Citigroup, RBS, Société Générale.

第五等 |

Basic facts about the department
Key offices include Houston, Dallas and Austin.

What the team is known for A strong presence in the Texas bankruptcy market, with the capacity to represent clients in matters nationwide and internationally. Most frequently retained by creditors on bankruptcies and restructurings. Also acts for debtors on high-value workouts and bankruptcy filings.

Strengths (Quotes mainly from clients)
"Very competent, well staffed and well positioned globally." 

Work highlights Represented Diamond Offshore Drilling in litigation against bankrupt upstream energy company ATP Oil & Gas. The firm is defending Diamond's rights to oil and gas interests which ATP seeks to render void.

Advised the National Rural Utilities Cooperative Finance Corporation and the Rural Telephone Finance Cooperative as secured lenders on the $524 million bankruptcy of Innovative Communication Corporation filed in the US Virgin Islands. The firm assisted in acquisitions and defended litigation brought by guarantors.

Notable practitioners 

Head of the firm's US bankruptcy practice Lou Strubeck primarily acts on the creditor side of major bankruptcy matters, often for large financial institutions. He recently acted for the Export-Import Bank of China on a $350 million bankruptcy in the shipping sector.

Clients say Toby Gerber is "quick, knowledgeable, responsive and always adds a measure of calm to difficult situations." He recently represented JPMorgan Chase and Chase Capital in the Chapter 11 bankruptcy proceedings of AGE Refining.

Significant clients AT&T, Bank of America, International Air Transport Association, Wells Fargo, Duke Energy.

第五等 |

Basic facts about the department
Key offices include New York and Los Angeles.

What the team is known for Noted West Coast and East Coast bankruptcy teams with a focus on out-of-court restructurings and corporate reorganizations both for key creditors and on the company side. Also acts for distressed asset purchasers in M&A transactions out of bankruptcy. Very active on oil and gas sector matters.

What's new? John Rapisardi, George Davis and Peter Friedman join the firm's New York bankruptcy team from Cadwalader, Wickersham & Taft.

Work highlights Advised Vertis Holdings, a maker of advertising inserts, on its bankruptcy process and subsequent sale of assets under Section 363 of the Bankruptcy Code. The firm also settled claims with the unsecured creditors' committee and sought a temporary restraining order over the disclosure of confidential information ahead of the sale.

Represented US Bank as holder of more than $575 million of unsecured certificates from corporate subsidiaries of Dynegy Holdings. The company's Chapter 11 bankruptcy proceedings included fraudulent transfer issues and a sell-off of power stations owned by subsidiary entities.

Notable practitioners 

George Davis's clients include major financial institutions and private equity houses on the creditor side and oil and gas operators on the debtor side.

John Rapisardi recently represented JPMorgan Chase in the Chapter 11 bankruptcy of the Revel Casino in Atlantic City, New Jersey, where the bank was agent for over $1 billion of secured loans.

Los Angeles-based Ben Logan recently acted for an ad hoc group of second lien lenders in the Chapter 11 bankruptcy of AMF Bowling, filed in the US Bankruptcy Court for the Eastern District of Virginia. He acts for both creditors and debtors.

Significant clients Caribbean Petroleum Liquidation Trust, Bank of New York Mellon, Avenue Capital, Oaktree Capital, Bank of America.

第五等 |

Basic facts about the department
Key offices include New York, Sacramento, San Francisco and Washington, DC.

What the team is known for Represents individual creditors and committees in significant Chapter 11 bankruptcies and restructures. A strong presence in large municipal bankruptcies, representing the municipality in often difficult and protracted proceedings. Expertise in handling gaming matters for Native American tribal groups.

Strengths (Quotes mainly from clients)
"There is a deep knowledge of the subject matter, and they are very personable, easy to talk to, timely and efficient."

"I am impressed with the firm's diverse expertise and the quality of their lawyers." 

Work highlights Advised a number of financial institutions including RBS on the $6 billion restructuring of the Indiana Toll Road concession. The firm acted as counsel to the Bank Steering Committee, representing 44 lenders.

Represented the City of Stockton, California, in its $500 million Chapter 9 proceedings, overcoming objections from creditors to the bankruptcy filing and securing the City's power to continue governing itself during the bankruptcy.

Notable practitioners  

Marc Levinson's main focus is the representation of municipalities in high-value, politically sensitive Chapter 9 bankruptcies and restructurings. Peers regard him as being "at the cutting edge of Chapter 9 work."  

Significant clients Rabobank International, Wells Fargo, Barclays, W.J. Deutsch & Sons, East West Bank.

第五等 |

Basic facts about the department
Key offices include New York and Boston.

What the team is known for Noted for its distressed acquisitions work, representing purchasers of assets out of bankruptcy including private equity funds. Often represents official or ad hoc committees of key creditors, particularly in the energy and healthcare sectors. A growing debtor-side practice.

Strengths (Quotes mainly from clients)
"They are smart people, creative and extremely thorough." 

"They are great on complex issues, among only a handful of creditor firms that are particularly adept at doing high-quality work."

Work highlights Acted for an ad hoc group of investors holding residential mortgage-backed securities issued by subsidiaries of bankrupt mortgage lender ResCap in an $8.7 billion pre-petition settlement. The firm also negotiated a plan of bankruptcy to see through the terms of the RMBS settlement.

Represented the Executive Benefits Insurance Agency before the US Supreme Court in a precedent-setting case on the power of bankruptcy courts under Article III of the Constitution to exercise judicial power by consent of the litigants.

Notable practitioners  

Clients regard Mark Bane as a "very good lawyer who brings good business acumen to the issues he is working on." He represents debtor companies and creditors' committees in bankruptcy and restructuring matters, with a focus on acting for private equity funds.

Significant clients Bain Capital, York Capital Management, Deutsche Bank Trust Company Americas, Wilmington Trust, Wells Fargo.

第五等 |

Basic facts about the department
Key office is Dallas.

What the team is known for Powerhouse Texas energy firm regularly handling high-value bankruptcy and restructuring matters in the oil and gas sector. Often acts for creditors and other stakeholders in major Chapter 11 cases. Also represents debtor companies and bankruptcy trustees.

Strengths (Quotes mainly from clients)
"A good firm with an excellent knowledge base." 

"We view Vinson & Elkins as a highly professional and extremely capable law firm with a broad range of resources available to clients."

Work highlights Represented the trustee in bankruptcy of telecoms company Innovative Communication in its $650 million Chapter 11 bankruptcy in the US Virgin Islands. The firm advised on a $300 million sale of business assets and litigation against a former owner concerning an allegedly fraudulent transfer.

Notable practitioners  

William Wallander frequently advises debtor clients on the reorganization of their corporate structures, and also acts on the purchaser side in distressed asset M&A transactions. "He's very sound technically, and very proficient in the courtroom," interviewees state.

Significant clients Deutsche Bank, GE Business Energy Financial Services, Rockwater Energy Solutions, Sinclair Oil & Gas, Trans Alta Energy Marketing.

Other Ranked Lawyers 其他上榜律师

Paul Singerman of Berger Singerman is "very well renowned and very impressive," according to interviewees. The Miami attorney acted for Judge Herbert Stettin in his capacity as the bankruptcy trustee of Rothstein Rosenfeldt & Adler, the law firm at the center of the Scott Rothstein Ponzi fraud.

Clients regard Evan Flaschen of Bracewell & Giuliani LLP as having "the gravitas to handle a complex deal." Clients have particular praise for his ability to work through complex transactions in the restructuring space. He recently represented TMT Procurement and related corporate entities in a $1.5 billion Chapter 11 restructuring.

Mark Ellenberg of Cadwalader, Wickersham & Taft LLP receives warm praise from clients, with one commenting that he is "very impressive," adding: "He does an excellent job of understanding the important issues and distilling them down to precisely what the client needs to know. He is very well respected and has instant credibility when arguing a position."

Richard Levin of Cravath, Swaine & Moore LLP "is able to engage on the most complex issues," relates one client, while another comments that "he is incredibly quick and proactive and always comes up with practical solutions to clients' problems." He recently represented the Detroit Institute of Arts in connection with the City of Detroit's Chapter 9 bankruptcy.

Roger Frankel, formerly of Orrick, Herrington & Sutcliffe LLP, recently became a founding partner of FrankelWyron LLP. Frankel is an "excellent lawyer," peers stated. He is noted for his expertise on Native American tribal gaming matters and the representation of the interests of future claimants in asbestos mass tort cases.

Clients observe that Brad Scheler of Fried, Frank, Harris, Shriver & Jacobson LLP "provides practical advice and can come up with creative and novel ideas that are fruitful." He acts for institutional and private equity creditors, debtor companies and parties to distressed asset transactions.

James Giddens of Hughes Hubbard & Reed LLP receives high praise from clients for his "ability to calmly, methodically and intelligently solve problems." He is noted for his work as trustee in the $135 billion liquidation of Lehman Brothers bank and its related entities and on the $40 billion liquidation of collapsed commodities broker MF Global.

James Carr of Kelley Drye & Warren LLP knows "how to build consensus while vigorously protecting our interests" and "is not afraid to devise and push for novel solutions that save time, lead to out-of-court settlements and minimize costs and disruption to our business," clients reports. He acts for creditors and distressed asset purchasers, with particular focus on the energy sector, the aerospace industry and financial services.

Richard Mikels heads the bankruptcy, restructuring and commercial law department of Mintz Levin Cohn Ferris Glovsky and Popeo PC in Boston. He primarily represents debtors in restructurings and bankruptcy proceedings, and also acts for creditors' committees and bondholders. His particular industry specialties are healthcare and real estate.

Michael Reilly recently moved to Morgan, Lewis & Bockius LLP from Bingham McCutchen LLP. He focuses on work for bondholders and lenders in bankruptcy cases and recently led the representation of an investor group in a major bankruptcy. Interviewees say that he is "a very tough negotiator but with real skill in building a consensus."

Edward Dobbs of Parker, Hudson, Rainer & Dobbs LLP in Atlanta is widely regarded as the leading bankruptcy attorney in Georgia. One enthusiastic client said: "He's a human encyclopedia of bankruptcy matters. He can give a very practical view of the application of law and distill complex matters down so that I can understand them. It's like watching an artist in court."

Chair of Paul Hastings LLP's bankruptcy and restructuring practice Luc Despins is "very smart and an effective and creative lawyer," peers affirm. He advises debtors and also acts for banks, both as individual lenders and as agents for syndicated loans.

Deryck Palmer of Pillsbury Winthrop Shaw Pittman LLP is considered a "consummate bankruptcy professional" by clients, "a negotiator and a strong communicator who can work in any industry area." Recent work highlights include acting for Berger Group Holdings in a $1.1 billion out-of-court reorganization and debt refinancing.

Adam Harris of Schulte Roth & Zabel LLP is "bright, practical, effective and excellent in court," say sources. His creditor-side clients include Cerberus Business Finance, which he recently represented in the $1.29 billion Chapter 11 bankruptcy of WP Steel Venture. Cerberus was owed $225 million in second-lien notes.

Clients say Kristopher Hansen of Stroock & Stroock & Lavan LLP "has a ton of experience, understands the issues and can translate the legal issues into how things will pan out in the business world." He primarily represents secured and unsecured lenders, including both official and ad hoc committees, and DIP lenders.

Andrew Dietderich of Sullivan & Cromwell LLP is particularly noted by market sources for his work on the Chapter 11 restructuring of Eastman Kodak, the printing services company which formerly made camera film. Clients admire the way he "focuses on solving the key problems in a case."

Jeffrey Sabin is a new addition to Venable LLP's group having left his former firm of Bingham McCutchen LLP. He is praised as "a very good deal maker" in a practice that deals with distressed company, creditors' committee and investor clients, and he recently acted for a trustee in its sale of a bank.

Foreign Experts

Foreign Experts are individuals with expertise in a different jurisdiction to the one they are based in. These individuals are particularly highly regarded for international and cross-border work. Usually, they will be identified in the jurisdiction in which they are based and in their country of expertise.

Senior Statesman

A 'Senior Statesman' is a lawyer who no longer works hands-on with the same intensity but who, by virtue of close links with major clients, remains pivotal to the firm’s success.

Eminent Practitioners

'Eminent Practitioners' are highly influential lawyers in a particular practice area who, due to managerial or client relationship commitments, are less active in day-to-day work but remain key players in the team.

Other Noted Practitioners

Other Noted Practitioners are individuals who have not yet been ranked but are seen to be active and accomplished in this area of law.

Other Noted Firms

Other Noted Firms are firms that have not yet been ranked but are seen to be active and accomplished in this area of law.