Award Turnarounds & Workouts

Most Successful Restructurings of 2012

In Turnarounds & Workouts' annual report on the bankruptcy industry, Kirkland was debtor counsel for three of the most successful restructurings of 2012.

Partners James Sprayregen, Anup Sathy and Joshua Sussberg were listed as counsel to Centerbridge Partners in the restructuring of Aquilex Holdings LLC. The case was recognized for providing Aquilex "liquidity that had been sorely lacking, thus avoiding liquidation and preserving hundreds of jobs."

Partners James Sprayregen, Jonathan Henes, Ryan Bennett and Michael Slade were listed as debtor's counsel for Global Aviation Holdings Inc. The case "completely restructured operations and balance sheet on a tight timetable and with insufficient cash to survive any material delays" and required "complex, extremely contentious bet-the-company negotiations with five unions."

Partners Marc Kieselstein and Chad Husnick were listed as debtor's counsel for Nebraska Book Company, Inc. The "challenging restructuring" was noted for preserving an "important going concern business in a struggling sector."