Press Release

Kirkland & Ellis Expands European Restructuring Practice with the Addition of Two German Partners

Kirkland & Ellis is pleased to announce the hiring of two German restructuring partners. These partners will further strengthen Kirkland's Munich office and form the core of Kirkland’s German Restructuring Practice. Kirkland's Munich office opened in January 2005 and has recorded a successful first year. The office has grown to 15 attorneys.

The first partner, Bernd Meyer-Löwy, joins from Linklaters where he was a senior restructuring specialist of Linklaters’German insolvency and restructuring practice, with particular focus on representing senior creditors in work out and insolvency situations. Mr. Meyer-Löwy also represents insolvency trustees and debtor companies in complex restructurings. He was a part of the team that recently advised the senior creditors in the Callahan NRW and Primacom restructurings.

"I am pleased to contribute my experience in representing national and international creditors in the recent major German restructurings to the Kirkland restructuring practice," commented Mr. Meyer-Löwy. "There will be many opportunities to assist clients in achieving results familiar in U.S. and U.K. restructurings but still to be implemented in the German insolvency regime on a more regular basis"

The second partner will join in April and is currently serving out his notice period. His practice is focused on the representation of debtors in cross-border insolvencies and of junior creditors and distressed debt investors within Germany and internationally.

"The hiring of two German restructuring partners is a key component in the strategic development of Kirkland & Ellis’ International Restructuring Practice," said James H.M. Sprayregen, P.C., head of Kirkland’s Global Restructuring Practice.

Other key members of Kirkland’s European Restructuring Team are partners Richard East and Partha Kar as well as senior associate Kon Asimacopolous who joined Kirkland’s London office from Cadwalader Wickersham & Taft’s London office in January 2006. Together with the recent hires of associates Natasha Watson and Helena Potts, Kirkland’s European Restructuring Group has nearly doubled in size in 12 months, reflecting the success of securing engagements on many major European restructurings during 2005.

Some of the significant European restructuring matters that Kirkland is engaged on include securing the highly sought after landmark instruction to act as lead lawyers for the debtor and subsequently the administrators of global automotive interior systems manufacturer, the Collins & Aikman Group. This matter involved guiding 24 companies in 10 European jurisdictions into a groundbreaking legal proceeding.

Kirkland’s European Restructuring Group has also recently advised global safety shoe manufacturer Jallatte Almar on its financial restructuring, Treofan Group, the German-based maker of oriented polypropylene, on its operational and financial restructuring in a debt-for-equity swap and advising the major U.S.-based energy company Calpine Corp. on European law issues in relation to its Chapter 11 filing in the U.S.

Other recent European restructuring matters include advising substantially all the bondholders of Avecia, a leading global specialty chemicals company on its bond buyback, Cabovisao SA, the second largest cable company in Portugal, on all aspects of its restructuring, and a significant party in the Acordis administration. Kirkland continues to act for one of the major creditors, European Investment Bank, in the complex Eurotunnel restructuring.

Kirkland’s 100-attorney International Restructuring Practice Group advises on some of the world’s largest and most complex bankruptcies and restructurings. For instance, Kirkland is representing global air carrier United Airlines which emerged from Chapter 11 on February 1 2006.

Kirkland & Ellis LLP is a 1,100-attorney law firm representing global clients in complex restructuring, corporate, tax, litigation, dispute resolution and arbitration, and intellectual property and technology matters. The Firm has offices in Munich, London, Chicago, Los Angeles, New York, San Francisco and Washington, D.C.