Most Successful Restructurings of 2014

In Turnarounds & Workouts’ annual report on the bankruptcy industry, Kirkland was recognized as debtor counsel for one of the 12 most successful restructurings of 2014. Partners James Sprayregen and Adam Paul were counsel to W.R. Grace & Co., which exited bankruptcy in February 2014 after more than 12 years in Chapter 11. Turnarounds & Workouts recognized the matter as “an innovative and aggressive bankruptcy case … that relied upon a massive litigation effort to provide a reasonable estimate of Grace’s asbestos liabilities.”