December 20, 2019
Weil served as debtors’ counsel in three of the top five matters selected by Law360 as “the most important bankruptcy cases of 2019.” The publication highlights Sears Holdings Corporation, Insys Therapeutics Inc., and PG&E Corporation among the year’s most significant bankruptcies – historic cases that further demonstrate Weil’s leadership and expertise.
- Sears Holdings Corporation and its affiliated debtors in their chapter 11 cases. Sears is one of the largest retailers in the world and its chapter 11 cases represent one of the largest retail chapter 11 cases in history. At the time of commencing these cases, Sears had more than 68,000 employees and approximately $6 billion in debt.
- Insys Therapeutics, Inc., and its six subsidiaries, a specialty pharmaceutical company that develops and commercializes innovative drugs and drug delivery systems of therapeutic molecules that improve patients’ quality of life, in their chapter 11 cases with liabilities in excess of $100 million - $500 million.
- PG&E Corporation and Pacific Gas and Electric Company, one of the largest combined natural gas and electric energy companies in the United States and the largest utility company in the State of California, in their chapter 11 cases. PG&E has approximately 16,000,000 customers, 24,000 employees and estimated liabilities (including contingent and disputed liabilities) in excess of $50 billion.
Weil's Business Finance & Restructuring Department has served as chief debtors’ counsel in six of the seven largest U.S. bankruptcy filings in history, and continues to lead the most complex and high-profile restructurings in the market.