THE FIRM The Chicago-based restructuring group at Kirkland & Ellis continues to work with the firm's New York office on some of the largest bankruptcy-related matters in the country. The group is best known for debtor-side expertise across all manner of industries including retail, automotive, real estate, media and telecoms. The team is also commended for its expertise in resolving large-scale matters out-of-court, evidenced by the restructuring of YRC Worldwide. Recent highlights also include engagements for Corus Bankshares, The Great Atlantic & Pacific Tea Company, Green Valley Ranch Gaming and MSR Resort Golf Course in their respective Chapter 11 proceedings. While debtor-side representations are a particular strength, the team also regularly represents clients with other interests. It currently represents an ad hoc group of holders of senior notes in TerreStar Networks in a sale relating to TerreStar’s Chapter 11 cases.
Sources say: "They have incredible depth and are able to quickly assemble a top-notch team to address any issue very quickly and effectively."
KEY INDIVIDUALS James Sprayregen continues to excel since rejoining the group in 2008 and is widely regarded as a preeminent restructuring attorney. He is praised by commentators, who say he "gets the big cases" because of his "incredible work ethic and skill." Sprayregen, who splits his time between Chicago and New York, fosters an exemplary reputation in representing troubled companies and their directors in a range of matters and industries.
Anup Sathy advises various corporate entities on various issues relating to restructurings, workouts and Chapter 11 reorganizations. He has been involved in many of the team's more impressive representations recently, including acting for Innkeepers USA Trust, Conseco and YRC Worldwide.
David Seligman focuses on acting for public entities and privately held portfolio companies during both in- and out-of-court restructuring matters. He also has niche expertise in cross-border insolvencies. Clients admire this "smart, professional problem solver" for his extremely collegial approach. He played a pivotal role in the Chapter 11 restructurings of Green Valley Ranch Gaming, Corus Bankshares and Japan Airlines.
David Eaton represents a broad range of clients, including debtors, committees and secured creditors. His experience in the field of investment banking and turnaround consulting has also equipped him with an excellent skill set in the cross-border restructuring sector. Eaton provided essential advice in the out-of-court restructuring of YRC Worldwide.
James Stempel has a growing reputation among commentators, who say that he is "extremely bright and creative in his approach; really easy to work with." He is strong across the spectrum of bankruptcy-related matters and regularly advises purchasers of distressed companies.