December 15, 2016
Gary Holtzer, co-chair of Weil’s Business Finance & Restructuring department, has been named an MVP for Bankruptcy by Law360 for his standout representation of both debtors and creditors in some of the largest bankruptcies of 2016.
Mr. Holtzer was responsible for marshalling a wide array of matters through bankruptcy, including multiple billion-dollar oil and gas industry restructurings, as well as those in the steel and health insurance industries.
In the energy sector, as oil prices plummeted and destabilized the oil and gas industry, Mr. Holtzer helped to lead the $1.1 billion prepackaged reorganization of oil services company Paragon Offshore, the restructuring of Halcón Resources Corp.’s $1.8 billion in debt, and the reorganization of oil and gas exploration company Endeavour International Corp., among others. CHC Group, a global helicopter services provider for the oil and gas industry that suffered from a decrease in demand from offshore drillers, was another representation from 2016 that required significant attention and negotiations that took place all over the world.
Remarkably, however, Mr. Holtzer was not focused exclusively on the energy sector in 2016. He also advised AK Steel Corp. in connection with the bankruptcy of its joint venture subsidiary Magnetation LLC, and guided the landmark liquidation of Health Republic Insurance Corp. of New York, one of the largest of the nonprofit cooperatives created under the Affordable Care Act.
Under the leadership of Mr. Holtzer, Weil’s Business Finance & Restructuring department has grown over the past year, in part by broadening its creditor practice – a trend he believes will continue into 2017. Attributing the department’s success to its partners’ abilities to work across practices, Mr. Holtzer noted that “At the end of the day, the law firm has provided so much support for our practice and for me that it’s gone a long way to allowing my practice to grow here. Many times the answer to how to grow a practice is down the hall in a colleague’s office.”