Bankruptcy/Restructuring: The Elite | USA

Akin is a superb performer in the area of complex bankruptcies and restructurings on behalf of high-profile creditors and committees, while also offering an excellent debtor-side offering. The firm boasts an impressive roster of experienced practitioners with insolvency-related transactional and litigation expertise. The team enjoys a strong reputation for its expertise in the energy, retail, media and financial services sectors and also offers notable strength in cross-border matters.

Davis Polk & Wardwell LLP boasts a standout team of highly reputed bankruptcy and restructuring attorneys primarily advising clients on the creditor side, including notable experience acting for bondholder groups. The firm offers impressive capabilities in advisory and transactional assignments, as well as top-quality representation in multijurisdictional matters, with burgeoning strength in oil and gas-related issues. The team excels in debtor-in-possession financings, distressed M&A, and strategic planning and advisory work for major financial institutions.

Kirkland & Ellis LLP maintains a market-leading reputation in the bankruptcy and restructuring field, with formidable capabilities in its representation of all parties but particularly excelling in company-side representations. The firm offers an exceptionally deep bench of experienced attorneys with expertise in handling insolvency-related matters for a variety of domestic, international and multinational corporations. The team maintains broad-ranging industry sector expertise, including energy, retail and media.

Latham & Watkins LLP has an acclaimed bankruptcy and workouts team with an established creditor practice and burgeoning debtor-side capabilities. The firm is relied upon by clients in major Chapter 11 cases, as well as out-of-court restructurings and distressed M&A transactions. The team maintains a fine reputation for its cross-border capabilities and is also particularly noted for its work in the energy sector. Notable strengths include bankruptcy-related litigation.

Milbank LLP possesses a distinguished bankruptcy and restructuring practice offering a broad range of expertise, particularly in complex Chapter 11 cases, advising underwriters, investors and creditors. The firm demonstrates particular strength in restructuring transactional matters such as distressed M&A, in addition to offering prowess in contentious bankruptcies. The well-regarded attorneys are experienced across a myriad of industry sectors and cases involving cross-border components, with notable strengths in Latin America. The team is active in the energy and natural resources, retail and financial services sectors, among others.

Paul, Weiss, Rifkind, Wharton & Garrison LLP offers a deep bench of bankruptcy and restructuring experts experienced in representing creditor and debtor-side clients, as well as equity sponsors. The firm advises on the full spectrum of distressed transactions and insolvency proceedings across the energy, technology and financial services sectors, housing significant domestic and cross-border expertise and regularly working on restructurings involving European or Latin American components. The group offers an impressive multidisciplinary approach, drawing on its wider strengths in corporate, finance and tax law.

Weil, Gotshal & Manges LLP is an impressive performer that handles a wide spectrum of restructuring matters on behalf of domestic and international clients. Well reputed for its representation of financial institutions and major corporate clients, the firm is also highly regarded for its debtor practice, with additional strength in creditor work. The group houses a deep bench of experts who demonstrate significant experience in handling distressed situations within the oil and gas, metals and mining industries, as well as the retail sector.

HSF Kramer boasts a diverse bankruptcy and restructuring practice that is active on behalf of a range of clients, including creditors' committees, bondholders and the acquirers of distressed assets. The firm undertakes significant work in the area of complex bankruptcy litigation while also advising on M&A of distressed companies. The team also offers notable expertise with regard to bondholder representations in municipal restructurings.

Herbert Smith Freehills LLP and Kramer Levin Naftalis & Frankel LLP combined on June 1st to form HSF Kramer.

Paul Hastings LLP fields a highly capable team with a wealth of experience in the full range of bankruptcy work. The form offers impressive cross-border capabilities, with particular expertise in Latin America. The group is active in the airline, energy and hospitality sectors and routinely acts for creditors' committees, noteholders and lenders, while also handing sovereign debt restructuring.

Wachtell, Lipton, Rosen & Katz houses a deep bench of experienced transactional lawyers able to advise on the full range of bankruptcy and restructuring matters, with additional support from its talented litigators. The firm is noted for undertaking complex restructuring and distressed M&A work for major private equity, hedge fund and financial institution clients. Areas of expertise include transactional work, debt exchanges and litigation.

White & Case LLP enjoys a solid reputation for its handling of litigious bankruptcy cases on behalf of high-profile clients. The firm is recognized for its representation of creditors in highly contentious bankruptcy proceedings, and also offers counsel to debtors, administrative agents and investors. The team handles matters across a variety of industries including technology and energy, and its expertise stretches to cross-border restructurings for a range of multinational clients.

Cleary Gottlieb Steen & Hamilton LLP provides high-quality counsel to a wide range of stakeholders in Chapter 11 cases, possessing standout expertise in sovereign debt restructuring transactions. The firm is frequently retained to advise on cases with Latin American and wider cross-border components. The team also specializes in high-value domestic corporate restructurings, with experience handling both distressed transactions and complex insolvency-related litigation. The lawyers counsel clients in the energy and transportation sectors, among others.

Gibson, Dunn & Crutcher LLP offers a solid bench of experienced attorneys and demonstrates strength across its global office network in cross-border restructurings, both in and out of court. The firm gains particular recognition for its representation of distressed companies and creditors, including equity holders and major financial institutions. The team also advises on the acquisition of distressed assets, and on bankruptcy-related litigation. The group has broad-ranging industry sector expertise that includes entertainment, hospitality and telecommunications, among other sectors.

Morrison Foerster provides quality restructuring and insolvency expertise, most notably excelling on behalf of creditors' committees. The firm is also renowned for its strength in debt trading transactions, representing a variety of asset managers and other financial services clients. An impressive range of international work includes acting for international debtors in Chapter 15 cases and working with bondholders, trustees and liquidators in offshore restructuring and liquidation proceedings. The team frequently handles matters arising in the retail, energy and financial services sectors.

Skadden, Arps, Slate, Meagher & Flom LLP fields an impressive bankruptcy and restructuring group counting high-profile creditors, investors and debtors among its clientele. The firm draws upon its highly capable M&A practice to provide wide-ranging transactional advice on distressed situations in the energy, technology and financial services sectors. The team possesses a breadth of experience in out-of-court and in-court bankruptcy proceedings, including wind-downs, prepackaged bankruptcies and financial recapitalizations, and offers notable cross-border capability.

Sullivan & Cromwell LLP has a strong team with the ability to handle complex corporate restructurings and bankruptcy litigation for high-profile clients. The firm possesses expertise in Chapters 11 and 15 proceedings, and offers notable capabilities in international matters. The team acts for clients from a variety of sectors, including financial services, energy and retail.

Willkie Farr & Gallagher LLP is recognized for its prowess in representing major debtors, in addition to undertaking significant creditor-side engagements. The firm demonstrates impressive skill when negotiating contentious deals, particularly excelling in matters covering multiple jurisdictions. The group houses a multidisciplinary team of experts with strength in handling both in-court and out-of-court insolvency proceedings.

Debevoise & Plimpton LLP has a versatile group that is well equipped to tackle Chapter 11 restructurings for its global clientele. The firm acts for the full spectrum of stakeholders including creditors, debtors and boards of directors, with significant expertise in representing private equity clients and their portfolio companies in a variety of distressed situations. The team has notable experience with energy-related bankruptcies.

Jones Day offers a well-regarded practice prominent in the full range of major bankruptcy and restructuring matters in the USA and further afield. Areas of specialty include handling corporate and municipal bankruptcies on behalf of both creditor and debtor-side clients, as well as distressed M&A. The firm offers significant sector expertise in matters pertaining to the energy and retail sectors, and is also active in the technology and financial services sectors.

Proskauer Rose LLP has a widely respected practice active in a number of significant out-of-court restructurings and Chapter 11 bankruptcies, while also offering counsel in corporate governance matters. The firm exhibits additional strength in contentious matters, particularly in fraudulent conveyance litigation. The team offers a wealth of experience with creditor representation, and also provides counsel to distressed companies. The group is also noted for its counsel on multijurisdictional matters, with considerable experience working in Latin America.

Quinn Emanuel Urquhart & Sullivan LLP is home to a highly distinguished litigation practice advising on an array of contentious bankruptcy matters, demonstrating particular skill on major Chapter 11 cases. The firm is frequently engaged by significant bondholder, investor and hedge fund clients to handle bet-the-company bankruptcy and restructuring disputes. The team offers wide-reaching industry sector expertise in areas including energy and natural resources, as well as municipal insolvency.

Ropes & Gray LLP is well known for attracting a wide variety of creditor-side engagements from lenders, bondholders and committee groups. The firm regularly features in distressed M&A transactions and complex litigation proceedings, as well as contentious insolvency matters. The team possesses particular strength in matters concerning the energy sector and is also developing a fine reputation for its work on the debtor side. The group also offers counsel to clients active in the technology, media and healthcare sectors.

Brown Rudnick LLP enjoys an established reputation for acting on behalf of bondholders, lenders and unsecured creditors in contentious bankruptcy and restructuring situations. the firm is well known for its depth of knowledge in insolvency matters, particularly for distressed investors. The team frequently represents clients in complex domestic and international matters, with experience advising on distressed situations involving Europe, Asia and Africa, as well as the USA.

Dechert LLP offers a diverse practice handling the full spectrum of representations, excelling for both creditor and debtor-side clients. The firm undertakes a large volume of cases with a cross-border element, and regularly features in highly litigious deals. The team is also known for its strength in advisory work concerning CMBS loan restructurings and large CMBS bankruptcies.

DLA Piper LLP fields a well-regarded team recognized for its expertise in a wide range of bankruptcy matters, including Chapter 11 proceedings and distressed M&A. The firm acts for clients from a variety of industries, with recent experience in the retail, healthcare and media sectors. The team has notable strength in matters with an international element.

McDermott Will & Emery LLP is adept at handling a wide range of restructuring matters, including Chapter 11 proceedings and related transactions. The firm is noted for its expertise in the cryptocurrency and healthcare sectors.

O'Melveny & Myers LLP is an eminent presence in the bankruptcy and restructuring space, well known for its involvement in significant Chapter 11 restructurings. The firm has a strong debtor-side practice in addition to representing major lenders. The team also possesses strength in advising a broad range of creditors, as well as potential buyers and sellers of distressed assets, and enjoys a fine reputation for its work in the energy sector.

Pachulski Stang Ziehl & Jones LLP is a well-regarded bankruptcy boutique particularly renowned for its skillful creditor-side representation. The firm has extensive experience in representing unsecured creditors' committees in complex Chapter 11 proceedings as well as out-of-court restructuring transactions and related litigation. The team frequently handles issues pertaining to the retail sector.

Sidley Austin LLP offers broad expertise, with strength across Chapter 11 cases and out-of-court workouts. The firm offers substantial experience across a wide range of industries, including real estate, healthcare and aviation. The team is noted for work on both the debtor and creditor side of transactions.

Simpson Thacher & Bartlett LLP is a well-resourced outfit operating in a variety of complex bankruptcy and insolvency matters, supported by firmwide experts in litigation, tax and capital markets. The firm possesses expertise in issues relating to distressed entities and assets, and is regularly engaged in Chapter 11 proceedings and out-of-court workouts. The team is highly regarded for its strong client base featuring senior lenders, hedge funds and distressed investors, and is experienced in navigating bankruptcies in the energy, technology and media sectors, among others.

Togut Segal & Segal LLP is a popular boutique with a broad base of expertise in bankruptcy matters. The firm acts for a wide range of clients, including debtors, creditors, committees and trustees, and offers significant experience in high-profile Chapter 11 proceedings.

Hogan Lovells LLP is a popular choice for creditors' committees and investors seeking representation in high-profile matters. The firm is especially noted for its strong international profile, with notable expertise in Chapter 15 work and sovereign restructuring.

King & Spalding LLP has a strong bankruptcy practice with capabilities ranging from Chapter 11 proceedings to distressed M&A. The firm frequently advises lenders, creditors and debtors, and remains active across an array of industries, including healthcare, automotive and retail.

Schulte Roth & Zabel LLP counsels an impressive array of creditors and debtors on a range of restructuring and insolvency matters, including Chapter 11 proceedings. The firm has noted expertise in representing private investment fund clients, such as hedge funds and private equity firms, as lenders or distressed investors in complex restructurings.

WilmerHale offers a well-regarded team hailed for its capabilities advising on Chapter 11 cases and out-of-court restructurings. The firm is highly experienced in undertaking contentious bankruptcy and insolvency matters at both the trial and appellate levels. The team provides accomplished counsel to indenture trustees, and its varied client list also includes investors and bondholder and creditors' committees from the media, energy, pharmaceutical and financial services spaces, among others.