Award Chambers & Partners

The World's Leading Lawyers for Business 2008: Bankruptcy/Restructuring

On an annual basis, Chambers & Partners conducts extensive research and thorough data analysis in compiling its objective list of 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' 2008 review of international legal talent in the area of Bankruptcy/Restructuring, our Firm is listed among the best in the world.

Chambers' comments:

Global Ranking: 1

The Firm: Commentators dubbed this firm “the hottest one on the street” in the USA. As one explains: “There’s been explosive growth out of the Chicago office to New York,” and that appears to be a trend that is continuing on a global scale. It is successfully building up a presence in London and its European practice has a very strong UK/Germany link, agree clients. Considered one of the world’s leading debtor firms, the team is often called in when the largest companies are in financial difficulty. It is currently lead counsel to an impressive roster of clients including Dura Automotive, Collins & Aikman and Calpine, representing them on both sides of the Atlantic in all cases. It’s also acting for London-based company Sea Containers on its global restructuring. On the creditor side, it is acting for bondholders in the Schefenacker restructuring, and represents a UK hedge fund’s interests in Compañía de Alimentos Fargo’s bankruptcy proceedings in Argentina.

The Lawyers: Rick Cieri is the New York office’s leading light, and West Coast practice leader Rick Wynne is another important figure in the firm. He is based in Los Angeles “but roams all over” according to clients, who are impressed with the extent of his influence.

USA Ranking: 1

The Firm: Industry sources have dubbed this “the hottest firm on the street” thanks to the significant number of high-profile debtor matters it has attracted of late. Although the team recently lost James Sprayregen to join Goldman Sachs, “it hasn’t missed a beat” and continues to “pull in the work.” The group’s ability to “successfully guide a company billions of dollars in debt through myriad issues” has led to a string of recent filings, namely for Calpine, Dura Automotive Systems and WR Grace & Co. The team also boasts a strong presence in the private equity world and undertakes creditor and distressed M&A work, but remains best known for its “effective and aggressive debtor representations.” Interviewees respect Kirkland for recognising that bankruptcy is a “contact sport and not for sissies.” At the same time they praise the restructuring lawyers for “conducting their relationships and interactions at a highly professional level; they never let their personalities intrude.”

The Lawyers: Richard Cieri, “one of the most successful debtor lawyers in the country,” is an undisputed hit with clients. “He appreciates not only your thoughts and perspectives, but those of the people on the other side of the table. In the end, that’s the only way to get deals done.”

Reprinted with permission from Chambers Global, The World's Leading Lawyers for Business 2008 -