Kirkland Wins “Innovative Lawyers in Restructuring” at Financial Times’ North America Innovative Lawyers Awards
The Financial Times named Kirkland the winner of the “Innovative Lawyers in Restructuring” category at the 2025 North America Innovative Lawyers Awards. The Firm was also honored in four categories as part of the North America Innovative Lawyers report, which spotlights key trends and transformations taking place in the legal sector over the past year.
In the “Practice of Law (Restructuring)” category, Kirkland’s liability management transaction for Warner Bros. Discovery was honored as the most innovative transaction of the year. The novel liability management transaction captured in excess of $3 billion of debt discount, stripped substantially all covenants from Warner Bros. Discovery’s indentures and paved the way for Warner Bros. Discovery to separate its businesses in connection with its upcoming M&A transaction. According to the Financial Times, the deal also “has set a precedent for other large ‘fallen angel’ companies, which have seen their debt rating downgraded.”
Kirkland was also highly commended in “Practice of Law (Science & Technology)” for securing a precedential summary judgment ruling for Thomson Reuters that affirmed “that the non-consensual use of its editorial content for artificial intelligence training violates copyright, representing a key ruling in the ongoing tussles between copyright holders and the artificial intelligence industry.”
In the “Business of Law (Training & Development)” category, Kirkland was highly commended for advancements in its in-house mock board training program. The Firm’s long-standing program is “led by real-life board members who are experienced in restructuring, rather than traditional lawyers and bankers, to make the scenario as realistic as possible.”
Partner Erica Berthou was also recognized among the “10 Most Innovative Practitioners” for establishing Kirkland’s infrastructure fund formation platform that “brought together expertise formerly spread across the firm — in areas such as tax and property, as well as finance.” The Financial Times noted that “the race to build more data centers to support artificial intelligence is stoking demand for energy infrastructure and opportunities to invest. Erica…is helping to satisfy those two demands.”
