August 31, 2022
Restructuring Department Co-Chair Ray C. Schrock has been recognized and profiled as a top restructuring attorney for 2022 by Business Insider.
The publication prominently cited Ray as one of the 16 best bankruptcy practitioners in the U.S. and highlighted his work representing major retailers, including J.Crew Group Inc., Sears Holdings Corp., and Aéropostale Inc.
Ray explained that helping companies avoid a chapter 11 process, maximizing the benefit of any chapter 11 process for those companies that must seek court protection, and steering companies through complicated workouts, is immensely satisfying personally and professionally.
"In those cases where we were able to get to a good outcome for stakeholders while preserving jobs for the thousands of families that depend on these companies. Without a doubt, those are the most rewarding and important accomplishments for our practice," Ray said.
Business Insider also cited Ray’s prediction for a continued increase in distressed situations in the near term.
"Lenders largely were able to refinance any distressed credit throughout 2021, but with tightening monetary conditions, we expect to see many more workouts later in 2022 and into 2023," Ray explained.