January 23, 2018
Weil was recently profiled by Law360 as a 2017 nationwide Bankruptcy “Practice Group of the Year” for having a prominent role in ten of last year’s largest bankruptcies. Weil has received the Bankruptcy Practice Group of the Year honor every year since the inception of the award eight years ago.
The profile highlights Weil’s ongoing representation of Westinghouse Electric Company and TK Holdings Inc., a subsidiary of Takata, in in their chapter 11 bankruptcies, respectively, among other complex, high-profile representations.
Business Finance & Restructuring Co-Chair Matthew Barr commented on Weil’s role as a pioneer of the modern and still-evolving bankruptcy practice. “We’ve invented a lot of what people do in the industry. We pride ourselves on being innovative and creative thinkers in coming up with solutions that realize the goals our clients are trying to achieve. From Enron to Lehman to WorldCom to others, we have handled cases that have shaped how corporate reorganizations are done today.”
The profile also highlights Weil’s successful representation of CHC Group Ltd., a global helicopter service company operating on six continents, whose plan was confirmed in March 2017, allowing a restructuring of $1.5 billion in debt as well as its aircraft fleet. Business Finance & Restructuring Co-Chair Gary Holtzer commented on the complexity of the situation: “CHC had no U.S. assets, but it went through a chapter 11, so you effectively have to successfully sell the U.S. restructuring process to an entirely global business with foreign investors. The choreography to make a lot of that work is challenging.”
Mr. Holtzer also commented on Weil’s emphasis on efficiency to minimize time spent in bankruptcy. “We are very strategic when we think about how to finish a bankruptcy and not have huge tails of litigation that have existed in other situations, which can go on for years before people resolve how to divide all the proceeds from a transaction.”
With regard to how the practice platform and the group’s challenging caseload play an important role in attracting new associates and partners, Mr. Barr commented: “The work that we do is really exciting and not run-of-the-mill, cookie-cutter type stuff. It is complex reorganizations and restructurings for multinational corporations. And I think that is what’s attractive for younger associates and partners who want to work on those type of matters and really think out of the box on those types of issues.”