December 07, 2020
Weil has been profiled by Law360 as a 2020 “Bankruptcy Practice Group of the Year” for leading some of the year’s most significant and successful restructurings.
The profile noted that Weil has continued to excel at the very forefront of the field, spearheading several “of the most noteworthy” chapter 11 restructurings of 2020. Led by Co-Chairs Matt Barr, Gary T. Holtzer and Ray C. Schrock, P.C., the Restructuring Department has set the standard for excellence and helped major businesses navigate unprecedented challenges.
"One of the things we pride ourselves on is instilling confidence in people quickly," Matt Barr told Law360. "We instill a comfort level that we'll get through it based on our experience. We're able to bring calm to people pretty quickly."
The profile highlighted the group’s expertise in leading PG&E Corporation’s landmark chapter 11 case, a $59 billion restructuring that epitomized Weil’s ability to handle the most pivotal and complex insolvencies.
"The firm drew on its experience in managing some of the largest restructurings ever, and this included looking back at our experience with mass torts and liability management," said Ray Schrock. "We were nimble enough to work our way through the process realizing that it could be not just a business solution but also a political solution."
Law360 also highlighted Weil’s achievements leading J.Crew Group Inc.’s prearranged chapter 11 case. The restructuring allowed the iconic retailer to convert more than $1.6 billion of debt into equity, raise over $400 million in new financing and preserve its workforce. In addition, the publication recognized Weil’s effectiveness leading the multibillion-dollar chapter 11 restructuring of CEC Entertainment, the parent company of Chuck E. Cheese and Peter Piper Pizza.
Weil’s record is notable for the variety and scale of its restructurings. The array of cases demonstrates the Firm’s ability “to create bespoke solutions for each client that allows them to drive the outcome of the case,” Law360 reported.
"We approach every engagement without the idea that there is some set playbook,” Gary Holtzer said. “We start with what our client thinks the right answer is, and then we spend our time focusing on what we can craft in terms of a very specific solution. That frequently can only come from a few select law firms.”