Kramer Levin won awards in three categories at the 10th Annual Turnaround Atlas Awards, presented by the Global M&A Network on July 19, 2018.
Kramer Levin received the award for Turnaround of the Year (above $10 billion) for the firm’s role in the reorganization of Caesars Entertainment Operating Company, Inc. and its affiliated Debtors. Kramer Levin played a pivotal role in the negotiations that formed the basis for Caesars’ 2015 bankruptcy filing, and represented holders of more than $3 billion of first lien notes issued by Caesars (the largest and key creditor constituency) throughout the uniquely complex Chapter 11 cases.
The Kramer Levin team was led by Bankruptcy and Restructuring partners Kenneth H. Eckstein and Daniel M. Eggermann. The team also included Bankruptcy and Restructuring partner P. Bradley O’Neill, special counsel David E. Blabey, Jr., and associates Mark Chass, Nathaniel Allard and David Z. Braun; Corporate partner John Bessonette and associate Jeffrey Taylor; Tax partner Barry Herzog and associate Rita Celebrezze D’Souza; Banking and Finance partner David J. Fisher; Real Estate partner Tzvi Rokeach; and Litigation counsel Natan Hamerman, special counsel Samantha V. Ettari, associates Leah S. Friedman, Hanna Seifert, Catherine Hoge and Ryan Gander, and assistant managing attorney Samantha M. Ford.
The firm won Chapter 11 Restructuring of the Year ($5 billion-$15billion) for its role in Peabody Energy Corporation’s restructuring. Kramer Levin represented Elliott Capital Management and Aurelius Capital Management as holders of unsecured notes before and during the Chapter 11 case, which was one of the largest bankruptcy filings of 2016.
The Kramer Levin team was led by Bankruptcy and Restructuring partner Kenneth H. Eckstein and included Bankruptcy and Restructuring partner P. Bradley O'Neill, special counsel David E. Blabey, Jr., and associates Joseph A. Shifer, Alana Katz, Philip Michael Guffy and Rama Douglas; Corporate partners Abbe L. Dienstag, John Bessonette and David J. Fisher; Litigation partner Jeffrey S. Trachtman, counsel Natan Hamerman, and associates Leah S. Friedman, Ryan Gander, Timur Tusiray and Catherine Hoge; and Tax partner Barry Herzog.
Kramer Levin also received the award for Corporate Turnaround of the Year ($1 billion- $5 billion) for the firm’s role in the reorganization of CHC Group Ltd. Kramer Levin served as counsel to the Official Committee of Unsecured Creditors in the Ch. 11 filing of CHC Group Ltd., the largest commercial helicopter service provider primarily servicing the oil and gas industry.
The Kramer Levin team was included Bankruptcy and Restructuring special counsels Anupama Yerramalli and Jennifer R. Sharret, and associates Rachael Ringer, Mark Chass, Philip Michael Guffy and Priya K. Baranpuria; Litigation partners Gregory Aaron Horowitz and Philip Bentley; Corporate partners Abbe L. Dienstag and David S. Berg, associates Elaine Lo, Daniel Michaelson and Nathan Hyman; Tax partner Barry Herzog and associate Rita Celebrezze D’Souza.