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Corporate Restructuring and Bankruptcy

In distressed situations, it is crucial that counsel be experienced, creative and pragmatic. It is imperative that counsel have the ability to structure and negotiate transactions as well as the litigation expertise necessary to protect client rights. Our 40-attorney Corporate Restructuring and Bankruptcy Department has the resources necessary to tackle complex problems and we take pride in our ability to yield tangible results. Institutions, committees, corporations and individuals look to us to find practical solutions where others cannot. We have been actively involved in most of the major bankruptcy cases over the last 20 years and our breadth of industry expertise is second to none. We are knowledgeable in the telecommunications, real estate, health care, manufacturing, retail, mortgage finance, consumer products, supermarket, food service, financial services, construction, transportation, utilities, media and entertainment sectors, among others.

Working closely with the firm’s other departments, our diverse practice area includes representation of creditors’ committees, equity committees, debtors, banks, bondholders, trade creditors, landlords, investors, debtor-in-possession lenders and acquirers as well as investors in the purchase and sale of securities and assets of troubled companies. Among other areas, we have particular expertise giving advice in connection with complex bankruptcy litigation and investigations, distressed investments, mergers and acquisitions, and mass tort and class action bankruptcies. We also have an active subgroup of attorneys focused on distressed and special situations lending, and another devoted to claims trading in distressed enterprises.

The department's recent recognitions and news include: 

  • Kramer Levin won the 2014 M&A Advisor Law Firm of the Year Turnaround award;
  • U.S. News & World Report and Best Lawyers’ Best Law Firms (2011-2014) ranked Kramer Levin’s Corporate Restructuring and Bankruptcy practice in the national and New York top tiers for bankruptcy and creditor debtor rights/insolvency and reorganization law;
  • Department selected by Law360 as a Top Practice Group of the Year for 2012. Kramer Levin was selected as one of five top firms, based on the significance, size and complexity of the deals as well as the number of significant, large or complex deals worked on between Nov. 1, 2011 and Nov. 1, 2012;
  • Department awarded Law Firm of the Year by the 2012-2013 U.S. News and World Report “Best Law Firm Rankings.” The firm’s bankruptcy litigation practice received this honor over 26 other nationally recognized top tier firms based on the rankings of both peer and client review;
  • Department selected as one of the country’s best in the Chambers USA and Legal 500 U.S. series;
  • Department selected as one of the best in the United States by IFLR 1000 (2007-2014);
  • Department selected as one of the best in the United States by IFLR (2008-2012);
  • Kenneth H. Eckstein and Thomas Moers Mayer were selected by Chambers USA 2008-2013, Legal 500 U.S. 2009-2013 and Best Lawyers in America 2008-2014 as leaders in their field;
  • Mr. Eckstein was listed in Chambers Global 2012-2013, was named by Turnarounds & Workouts as one of the “Outstanding Restructuring Lawyers” in 2011 and “Restructuring Lawyer of the Year” by Global M&A Network in 2010; and was selected as a Lawdragon 500 “leading lawyer in America” (2011 and 2012);
  • Mr. Mayer is a member of the National Bankruptcy Conference and a fellow of the American College of Bankruptcy. He was listed in Chambers Global (2008-2013), was named as one of 2012’s Outstanding Restructuring Lawyers by Turnarounds & Workouts, was given the Conway Mackenzie & Dunleavy Award as one of 12 Outstanding Restructuring Lawyers in 2007, and was selected as a Lawdragon 500 “leading lawyer in America” (2007 and 2011);
  • Twelve of the department’s lawyers were recognized in the 2013 New York Super Lawyers;
  • Robert T. Schmidt and Philip Bentley were listed in Best Lawyers (2014);
  • Adam C. Rogoff was named to Global Insolvency & Restructuring Review as one of its “Top 40 Under 40” global insolvency practitioners in 2000, and has been recognized by Chambers USA (2012-2013), Legal 500 U.S. (2010 and 2011) and New York Super Lawyers (2006-2013);
  • Messrs. Mayer and Rogoff are listed as leading lawyers in Practical Law Company’s Restructuring and Insolvency Multi-jurisdictional Guide and the PLC Which Lawyer? online directory guide;
  • Amy Caton has been recognized by Chambers USA (2013) and Legal 500 U.S. (2010, 2012‑2013) and was named to American Lawyer’s “45 Under 45 — Best Young Women Lawyers in the Am Law 200,” Investment Dealer’s Digest’s third annual “40 Under 40” list of up-and coming lawyers, bankers and other professionals; as one of the nation’s top 12 “Outstanding Young Restructuring Lawyers” for 2008 and 2010 by Turnarounds & Workouts; and as one of Law360’s Rising Stars, one of the 10 bankruptcy attorneys under 40 to watch;
  • Douglas Mannal has been recognized by Chambers USA (2013) and was chosen as one of Turnarounds & Workouts Outstanding Young Restructuring Lawyers for 2012 and as one of “New York Rising Stars 2012” by New York Super Lawyers, and received the Law360 2012 Rising Stars award, one of only five attorneys selected in the field of bankruptcy law;
  • Joshua Brody was selected as one of the nation’s top 12 “Outstanding Young Restructuring Lawyers of 2013” by Turnarounds & Workouts;
  • Firm won the 2014 M&A Advisor Section 363 Sale of the Year (Over $1 Billion) Award for the restructuring of Residential Capital LLC (“ResCap”) for its work as counsel to the official committee of unsecured creditors;
  • Firm won the 2014 M&A Advisor Energy Deal of the Year Award for the restructuring of AES Eastern Energy, L.P. for its work as counsel to the official committee of unsecured creditors;
  • Firm received a Turnaround Atlas Award for the firm’s work as debtors’ counsel for General Maritime. The transaction was named “Turnaround of the Year” (Large Markets) at the Global M&A Network’s annual awards gala in Chicago in June 2013;
  • Firm won the M&A Advisor industrial manufacturing and distribution deal of the year Turnaround Award for its work as debtor’s counsel for General Maritime Corporation at the 2013 Distressed Investing Summit;
  • The January 2013 issue of Turnarounds & Workouts listed Kramer Levin client General Maritime Corporation as having undergone one of the top twelve successful restructurings of 2012;
  • Firm won the Healthcare Services Turnaround of the Year Award for its work as debtor’s counsel for Saint Vincent Catholic Medical Centers and the Chapter 11 Reorganization Deal of the Year Award for Capmark Financial Group Inc. at the Global M&A Network’s 2012 Distressed M&A Deal Forum and Turnaround Atlas Awards Gala;
  • Firm won the 2012 Healthcare Deal of the Year and Turnaround Community Impact Award for Saint Vincent Catholic Medical Centers’ $260 million sale of its Manhattan Campus and creation of a new comprehensive care center in Greenwich Village from M&A Advisor;
  • Firm won the Corporate Turnaround of the Year ($500+ million) Award for Cooper-Standard Holdings, and the Industrial Products & Manufacturing Award of the Year for Smurfit-Stone Container Corporation at the Global M&A Network’s 2011 Distressed M&A Deal Forum and Turnaround Atlas Awards Gala;
  • Firm received the M&A Advisor award in 2011 for the Chapter 11 Reorganization of the Year (upper middle market) for its representation of the Official Committee of Unsecured Creditors of Cooper-Standard Holdings; and
  • Firm won the 2010 Distressed M&A and Business Services Sector Deals of the Year for its work on the Deloitte-BearingPoint acquisition. The firm won the Consumer Services Sector Deal of the Year for its Chapter 11 reorganization of Bally Total Fitness. 
     

These awards reflect the depth of our restructuring practice and our ability to deliver successful outcomes. They also demonstrate our role as an industry leader, regularly involved in the nation’s largest cases, including American Airlines, Hostess Brands, General Motors, Chrysler, Capmark Financial, Enron, WorldCom, Calpine, Adelphia, General Maritime, Bally Total Fitness, Dana Corporation, Dura Automotive, Cooper-Standard, Sea Containers, Northwest Airlines, United Airlines, Owens Corning, Dow Corning, ASARCO and W.R. Grace bankruptcies, to name a few.

Members of our team regularly publish, teach and lecture widely on bankruptcy-related topics, including issues related to DIP financing, asset sales, mass tort bankruptcy, acquisition of troubled companies, creditor and shareholder rights, distressed investing and developments in claims trading.  Many of our attorneys have clerked for prominent federal and bankruptcy judges.  We continue to draw on the qualities that have fueled the success of the firm and our clients: a commitment to excellence and a dynamic spirit.

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