The World’s Leading Lawyers for Business 2007: Bankruptcy/Restructuring

On an annual basis, Chambers & Partners conducts extensive research and thorough data analysis in compiling its objective list of legal talent available at the highest level of international legal practice. Its research methodology has been independently audited and confirmed to be thorough, robust and complete.

In Chambers' 2007 review of international legal talent in the area of Bankruptcy/Restructuring, our Firm is listed among the best in the world.

Chambers' comments:

USA Ranking: 2

The Firm: Despite the recent loss of high-profile lawyer James Sprayregen, Kirkland & Ellis remains "a force to be reckoned with" in bankruptcy matters. Theteam "consistently does a phenomenal job" on some of the most high-profile restructurings and is said to be "in a league of its own for debtor work." It led Calpine through the restructuring process following its filing for Chapter 11 protection - one of the largest bankruptcy claims in the USA in 2005. The team's representation of United Airlines also drew praise from commentators. The group also maintains a healthy creditor service and represents hedge funds and other investors in distressed companies.

The Lawyers: Richard Cieri works out of the New York office. Clients characterise him as "an incredibly good listener" who has the ability to "distil information into meaningful advice." He provides regular restructuring and financial assistance to clients including Collins & Aikman, Solutia and Laidlaw.

United Kingdom Ranking: 5

The Firm: Kirkland & Ellis is certainly making a splash on this side of the Atlantic. The London restructuring group has had a very good run in the past twelve months, almost doubling in size, representing a record number of financial institutions and playing a part in almost every major European restructuring. Sources are confident that while the UK team does not yet have the resources of the larger players, it is fast becoming a feature of the UK insolvency and restructuring landscape. "They've made their mark," is the general consensus. The team has the ability to carry out significant cross-border work by drawing from its international capabilities and strong New York bondholder practice. For instance, it represented Collins & Aikman in its European operations and sale of assets to a consortium led by WL Ross. The team also advised Jallatte Almar on its negotiations with its debt and equity stakeholders, and it is acting for one of the principal creditors of Eurotunnel. It is also penetrating the German restructuring market and advised Treofan Group, a multinational producer and supplier of polypropylene film products based in Germany, on restructuring negotiations with its debt providers and shareholders.

The Lawyers: Lyndon Norley is head of European restructuring and enjoys a growing market presence.

Reprinted with permission from Chambers Global, The World's Leading Lawyers for Business 2007 - www.chambersandpartners.com.