Bankruptcy/Restructuring: Delaware

THE FIRM This highly rated team of five partners and ten associates is one of the most well respected in Delaware. It tackles major Chapter 11 bankruptcy cases, often representing the debtor as co-counsel or lead counsel. The practice also wins praise for its creditor work. The team recently acted as co-counsel to Nortel in its bankruptcy issues in Canada, the UK and France. It also represents Townsends, Trico Marine Services and Fortistar.

Sources say: "A tremendous firm." 

KEY INDIVIDUALS Derek Abbott is described as "a class lawyer who is probably as good as anyone in Delaware." He is especially noted for his Chapter 11 expertise, and is hailed as "an extremely talented debtor lawyer who is professional, reasonable and practical."

Practice head Robert Dehney is recommended for his expertise in major bankruptcies filed by large public entities.

Of counsel William Sudell has a superb reputation after decades in the industry. He now acts as a consultant for the firm, providing advice to both creditor committees and debtors.

THE FIRM The strength and depth of this Delaware firm's sizeable team is commended across the board by clients, peers and out-of-state co-counsel firms. The practice comes highly recommended as a local counsel support team and also, in its own right, for its expertise acting as sole counsel in numerous Chapter 11 cases. Sources particularly note its unparalleled level of client service.

Sources say: "Not only are they practical but they understand the law as well as anyone and are nimble and act quickly."

KEY INDIVIDUALS Practice leader Mark Collins "has always been a go-to person for lender work," say sources. He is praised for his "unique knowledge of local customs and practices, as well as of substantive law." He recently acted as lead counsel in advising Howe Bell + Howell on its Chapter 11 proceedings.

"A deal-maker who understands the transaction," John Knight "is smart, practical and efficient, and gets the job done," according to interviewees. He acted as co-counsel to Equal Energy in its acquisition of a debtor's assets.

Daniel DeFranceschi acted as co-counsel to the debtors in Magic Brands' bankruptcy. He "brings reason and judgment to complex problems."

Litigation expert Russell Silberglied is "an excellent litigator who brings his restructuring skillset to the courtroom. He can always be counted on to deliver top-quality work efficiently and effectively." He recently played an integral role acting as counsel to the Official Committee of Unsecured Creditors in the bankruptcy of Javo Beverage.

Fellow litigator Robert Stearn is described by one interviewee as "the most thoroughly prepared lawyer I have ever worked with; his attention to detail is extraordinary."

Paul Heath is "hard-working and always looking to craft a workable solution to difficult situations. He also does a splendid job of managing his team efficiently and effectively." He recently acted as co-counsel to Ambassadors International, along with Stroock & Stroock, in its Chapter 11 proceedings.

Michael Merchant is praised for his superb understanding of technically complex bankruptcy issues, and for his proactive approach on behalf of his clients.

THE FIRM This international powerhouse runs a stellar Delaware bankruptcy practice. The group regularly acts as lead counsel on major cases, both locally and out of state. Pre-arranged bankruptcy matters are considered a particular forte of the practice. The firm is praised for its ability to seek out alternatives to in-court bankruptcy proceedings, and for its approach to treating bankruptcy assignments as a commercial negotiation. Recent highlights include representing Investcorp and affiliates in defense of fraudulent transfer and breach of fiduciary claims brought by a liquidation trust.

Sources say: "They have consistently met seemingly impossible deadlines with top-quality work. They provide solutions and strategies to accomplish our business objectives."

KEY INDIVIDUALS Mark Chehi is "rock solid at the task at hand," say sources. He advises on both bankruptcies and out-of-court restructurings, and recently appeared for Banco Popular de Puerto Rico as lender in a $137 million DIP financing and pre-petition secured loan facility relating to Caribbean Petroleum's Chapter 11 case. 

"Brilliant litigator" Anthony Clark leads the firm's Wilmington practice. He is praised for "thinking very quickly on his feet." He recently defended Communications Test Design against trademark infringement, fraud and misappropriation of trade secrets claims brought by Nortel Chapter 11 and Chapter 15 debtors.

THE FIRM This team provides superb local and sole counsel in major bankruptcies. It recently earned tremendous acclaim for its work as co-counsel to the debtors in the Los Angeles Dodgers Chapter 11 proceedings. The highly regarded full-service firm is praised for its debtor work, and also offers a strong line in representing creditors and undertaking prepackaged bankruptcies and workouts.

Sources say: "Every person we dealt with was strategic and reliable, and provided thoughtful recommendations, from the most junior associate up to the most senior partner."

KEY INDIVIDUALS Firm chairman James Patton is widely renowned as one of the country's most experienced bankruptcy experts. He was key in the group's representation of the special committee of the board of managers of EBG Holdings, the parent company of Boston Generating, in its Chapter 11 filing and $1.1 billion asset sale.

"Dominant player" Robert Brady is "sophisticated and smart," say sources. His recent highlights include his lead role in the Los Angeles Dodgers bankruptcy, and his advice to restaurant owner and operator Perkins & Marie Callenders on its Chapter 11 bankruptcy.

Practice group leader Pauline Morgan comes highly recommended for her debtor representations. She was integral to the team in the Los Angeles Dodgers case.

Michael Nestor's recent highlights include his representation of Hobart Truesdell, the Chapter 11 trustee for Global Vision. He is praised for his ability to achieve results and for his "extraordinary ability to work with co-counsel graciously and effectively."

Joel Waite has broad experience of representing committees, lenders and creditors, as well as corporate debtors. His highlights include his role as co-counsel to Oriental Trading.

Edmon Morton is described as a "top-quality and terrific" bankruptcy practitioner. He recently assisted in representing Eric Green, the future claimants' representative in Bondex's Chapter 11.

The "user-friendly" Sean Beach is "practical in his problem-solving," say interviewees. He has experience of Chapter 11 proceedings on both debtor and creditor sides.

THE FIRM This firm's bankruptcy practice is noted for its practical approach. The group is renowned for its creditor committee work and for its bankruptcy litigation expertise. It also has expertise in pre-packaged bankruptcy cases and an increasingly strong reputation for advising debtors. The group served as lead committee counsel in the PFF Bancorp, Centaur LLC and AES Thames Chapter 11 cases. It is also active in representing DIP lenders in the Fairchild Corporation case.

Sources say: "As local counsel they do a wonderful job of writing briefs, preparing confirmation hearings and being our eyes and ears locally."

KEY INDIVIDUALS "Thoughtful and easy to work with," Bonnie Glantz Fatell is the best-known name in the practice. She recently acted as co-counsel to the creditors' committee of American Home Mortgage Company.

David Carickhoff recently advised the creditors' committee in relation to the Chapter 11 cases of Majestic Star Casino. Sources praise him as being "wonderful to work with and passionate about the work."

Michael DeBaecke is recommended as one of the group's future stars. He combines a "sensible, practical approach" with "thorough knowledge of applicable law," say sources. He advises several preference defendants in pending preference actions relating to the bankruptcy of Linens N Things.

Practice group leader Regina Stango Kelbon divides her time between Philadelphia and Wilmington. According to sources, she "understands that bankruptcy is less a protracted legal exercise and more about getting the deal done."

THE FIRM This firm has a strong reputation for its handling of debtor matters. The group is also highly sought after for its conflicts counsel representations. The Delaware practice recently led in Leslie Controls' restructuring and Chapter 11 proceedings. Other key clients include Cliff Zucker and Cadence Innovation.

Sources say: "What impressed me was their knowledge of the law, local practice and procedure."

KEY INDIVIDUALS Department cochair Norman Pernick is an excellent debtor's expert who comes highly recommended, particularly for advising mid- to large-sized businesses. He "has an effective feel for the Delaware bankruptcy judges and is effective in court," say sources. He continues to receive special recognition for his role as co-counsel in Tribune's bankruptcy proceedings.

The "tremendous" Kate Stickles "understands the local practice and is extremely responsive," say sources. She played a key role in representing Barzel Industries and affiliates in their Chapter 11 filing.

Marion Quirk was part of the team advising BNA Subsidiaries on its Chapter 11 case. She impresses sources, many of whom describe her as a "joy to work with."

THE FIRM This well-known international firm has recently burst onto the scene in Delaware following a number of high-profile lateral hires, primarily from Edwards Wildman (formerly Edwards Angell Palmer & Dodge). Sources have great expectations of the newly formed team. Key clients include Bank of America, Starwood Capital, FormFactor and the Government of Ontario.

Sources say: "They are good at understanding the clients' business objectives and working within the parameters of the insolvency laws to help achieve business objectives."

KEY INDIVIDUALS Practice group leader Gregg Galardi joined from Skadden in May 2011 and is considered one of the foremost restructuring experts in the country. While predominantly based in the firm's New York office, he remains a go-to leader in Delaware-based representations. According to sources, he is "an exceptional attorney – aggressive but reasonable and tells it like it is."

Stuart Brown has an enviable client base, acting for the likes of Bank of America, Starwood Capital, Bethny and PJ Finance. He is excellent in "getting into the nuts and bolts" of a case, remark interviewees.

Craig Martin enters the rankings this year as an attorney who "knows the background law and explains it well" for his clients.

THE FIRM Landis Rath's solid bankruptcy practice receives particular acclaim for its expert handling of major out-of-court restructurings. Its team of 12 attorneys is also noted for its strong bankruptcy litigation capabilities, and for its excellent experience with conflicts work. The group is also highlighted for its ability to stand toe-to-toe with competitors in sole counsel engagements, evidenced by its recent first chair representation of the debtor AES Thames in its restructuring case.

Sources say: "Its attorneys are intelligent and practical, well respected by their peers, and bring a collective wealth of Delaware experience to the table."

KEY INDIVIDUALS "Consummate professional" Adam Landis leads the practice and is described as "a thoughtful strategist who brings new perspectives and new ideas to the solution of very complex bankruptcy issues." He recently impressed sources with his representation of the Official Committee of Unsecured Creditors of Tribune.

THE FIRM Pachulski Stang continues to be recognized as a leading national bankruptcy boutique. The group has been extremely active and adept in debtor representations of late, and has also been making waves in major bankruptcies on behalf of creditor committees.

Sources say: "They have a strength without raising their voice. When they say something, the judges pay attention."

KEY INDIVIDUALS Laura Davis Jones leads the Delaware practice and is praised for her ability to make judges pay attention to her arguments. She is active nationally, and out-of-state peers also praise her as "one of our favorites for Delaware conflicts counsel."

Active on both debtor and creditor cases, Bruce Grohsgal "is practical and knows the law. He knows how to come to a resolution."

THE FIRM This team of eight is recommended for its expertise in major Chapter 11 bankruptcies. The group has a solid practice representing a broad range of debtors, creditor committees and lenders. It earns particular praise for its focus on avoiding litigation and for its mediation of adversary proceedings filed in the Delaware Bankruptcy Court. The team recently took the spotlight with its role as co-counsel to CIT, and with its co-counsel representation of the Official Committee of Unsecured Creditors in the Chapter 11 proceedings of Washington Mutual. 

Sources say: "Highly knowledgeable about bankruptcy law generally, and local practices particularly. Extremely responsive and able to add value."

KEY INDIVIDUALS Senior partner David Stratton is an "excellent attorney by anyone's standards," say interviewees. He provided co-counsel to the creditors' committee in the Washington Mutual Chapter 11 case. 

Sources praise Donald Detweiler as "a strong negotiator who handles himself very well in the courtroom." He recently acted as lead counsel to the Official Committee of Lay Employees in relation to the Catholic Diocese of Wilmington case.

David Fournier recently represented Texas Capital Bank and Compass Bank in connection with North American Petroleum's bankruptcy proceedings. He is lauded for his "keen sense of what to expect from the Delaware bankruptcy courts in a variety of issues" and for his "great presence in court."

THE FIRM This firm's exceptional bankruptcy practice is traditionally known for its superb creditor-side expertise, though it is increasingly noted for its debtor work. Its four partners and five associates handle a broad range of issues, covering Chapter 11s, out-of-court workouts and state law foreclosures. Clients include debtors, creditor committees and banks.

Sources say: "They are very responsive and very knowledgeable, and provide appropriate guidance."

KEY INDIVIDUALS Laurie Selber Silverstein is one of the state's best restructuring experts. She is highlighted in particular for her in-depth experience of work on the creditor side. Sources say she "has a thoughtful and even-tempered way about her in distressful and difficult circumstances." Her recent highlights include representing a major financial institution as pre-petition first lien agent in connection with the bankruptcy proceedings of Chem Rx.

The "top-notch" Jeremy Ryan has a solid debtor-side practice, and a strong line in representing creditor committees. He recently represented mezzanine level entities owning and operating the W hotel Union Square in relation to the W hotel brand bankruptcy cases.

THE FIRM This team is particularly well known for its strength on the creditor side, while also maintaining a solid debtor-side and bankruptcy litigation practice. It is recommended by peers for its ability to provide strong co-counsel representation on such cases.

Sources say: "A great firm."

KEY INDIVIDUALS "Stalwart of the Delaware Bar" William Bowden "gives first-class advice, knows the players and gets maximum results," remark sources. His deep experience of the Delaware court system is appreciated by clients.

THE FIRM This nine-strong practice acts on a wide variety of bankruptcy matters, including both debtor and creditor engagements, and handles the full range of reorganizations and liquidations. The practice is recommended as a superb local counsel partner, and its provision of ancillary services, such as its tax advice, is also noted by interviewees. The team recently acted for Yuzhmash, a large Ukrainian state-owned space rocket manufacturer, in its litigation against the Official Committee of Unsecured Creditors.

Sources say: "They all know the judges and have completely faultless knowledge of local procedures."

KEY INDIVIDUALS Neil Glassman leads the team and is described as "a good predictor of what arguments the judges will like" in bankruptcy court. He recently led in the group's representation of Yuzhmash, and also advised Constar and its affiliated debtors in their pre-negotiated Chapter 11 proceedings.

Charlene Davis recently represented Pizza Hut in Midland Food Services' bankruptcy. Interviewees praise her as an attorney who "always puts together the right team, covers all the bases and knows local procedure."

THE FIRM This team has a significant creditor focus, and represents financiers and pre-petition lenders. Key clients include AFCO Credit, which the group represents throughout the country in bankruptcy issues. The team's highlights include its co-counsel representation of Imperial Tobacco Canada in the Chapter 11 filing of its former subsidiary, Flintkote.

Sources say: "Their concise and prompt responses on cases have aided in keeping our costs at a minimum while experiencing exceptional counsel support."

KEY INDIVIDUALS Practice head Stephen Miller is noted for both his broad practice and his "dedication, determination, attention to detail, responsiveness, and broad business and legal knowledge."

Brett Fallon is a respected bankruptcy adviser and litigator who is "attuned to what the judge is concerned about," say sources.

Carl Kunz has a large stable of creditor clients. He is praised for his "years of proven experience" and for his "strong and prompt communication" skills.

THE FIRM The Wilmington office of this international firm advises both debtors and creditors on bankruptcy matters. It can call upon its expertise in other offices around the country for additional support.

KEY INDIVIDUALS Kurt Gwynne appears in Chapter 11 bankruptcies on behalf of creditors' committees and lenders. Observers are especially impressed by his "huge enthusiasm for his clients and their causes."

Richard Robinson has a diverse bankruptcy practice, acting on behalf of both debtors and creditors, and is praised for his "outstanding command of all matters pertaining to bankruptcy law."

THE FIRM This Mid-Atlantic firm's Wilmington practice handles a broad spread of bankruptcy work, including litigation. The group is largely known for its representation of creditors, but also acts on behalf of debtors, committees and lenders.

Sources say: "They have strong organization skills and knowledge of bankruptcy proceedings."

KEY INDIVIDUALS Practice group cochair and noted in-court bankruptcy expert Mark Minuti "hits on all cylinders" in his representation of debtors, creditors, committees and trustees. He recently represented CVS and its affiliates in the Linens Holding bankruptcy case. He is also praised for his ability to "explain complex issues in simple terms."

THE FIRM This national firm's practice is highly respected for its representation of creditors' committees, lenders and debtors. Its large team enables it to take on an impressive roster of clients, such as the State of Montana, Chrysler and the Official Committee of Unsecured Creditors of Electroglas.

Sources say: "They are knowledgeable in the law and good to work with."

KEY INDIVIDUALS Steven Kortanek "has great encyclopedic knowledge of case law and knows how the courts have dealt with similar matters," according to sources. He recently represented the Official Committee of Unsecured Creditors in the Chapter 11 proceedings of Park Seed and Jackson & Perkins.

Frank Monaco recently represented Global Capacity in the confirmation of its plan of reorganization and related litigation. He is described as "very knowledgeable of procedure, very helpful on substantive matters."

The "very bright" Mark Desgrosseilliers recently acted for Carroll Services as the plan administrator in the Goody's Family Clothing bankruptcy cases.

Matthew Ward is a noted and widely recommended up-and-coming member of the team. He played a key role on behalf of the Official Committee of Unsecured Creditors of Barnes Bay Development.