Capabilities

Bankruptcy and Restructuring

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With a sophisticated understanding of the restructuring landscape, our multidisciplinary Bankruptcy and Restructuring practice provides comprehensive services in all aspects of restructuring and insolvency proceedings from pre-workout phase through litigation, if necessary. Our team of more than 30 insolvency and restructuring practitioners, located in Washington, DC, New York, Chicago, Denver, and Los Angeles, has been at the forefront of some of the largest and most complex multinational restructurings and insolvencies of recent past.

We have developed longstanding relationships with the industry's key players and regularly represent a whole range of stakeholders, including corporate debtors, investors and asset purchasers, committees, bondholders, secured and unsecured creditors, parties dealing with distressed businesses, officers and directors, and other interested parties in corporate restructurings, bankruptcy proceedings, and related litigation throughout the United States.

Our bankruptcy lawyers are experienced litigators. We appear in trial and appellate courts throughout the United States and are often involved in precedent-setting cases. Our transactional experience is equally extensive. Our Bankruptcy and Restructuring practice has taken the lead in a number of sophisticated transactions in some of the country's largest bankruptcy cases. We have also negotiated and structured successful out-of-court restructurings, helped clients acquire distressed assets or businesses, and advised clients on their dealings with troubled companies.

In addition to the practice's substantive knowledge and experience regarding restructurings and insolvency proceedings, we frequently partner with Arnold & Porter's other practice groups—Litigation, Corporate and Finance, Securities Enforcement and Litigation, Tax, Environmental, Antitrust, Real Estate, Intellectual Property, and Government Contracts—to provide our clients with a full spectrum of legal services. As bankruptcy issues rarely arise in a vacuum, this multidisciplinary coordination is particularly valuable to our clients.

Our firm and its bankruptcy partners have been recognized by numerous publications as being among the leading bankruptcy and restructuring lawyers in the United States, including Chambers USA: America's Leading Business Lawyers, BTI Client Service All-Stars, The Best Lawyers in America, Legal 500 US: Corporate and Finance, Guide to the World's Leading Insolvency and Restructuring Lawyers, and other publications. Our bankruptcy partners are frequent lecturers, published authors, and widely recognized professionals.

Experience

PetSmart, Inc. Counsel to Ad Hoc Group of Senior Term Lenders

Representation of the ad hoc group of senior term lenders to PetSmart, Inc., the largest specialty pet retailer in North America, with respect to the proposed spin-off of Chewy.com and related district court litigation.

iHeart Media, Inc. Counsel to Ad Hoc Group of Senior Term Lenders

Representation of the ad hoc group of senior term lenders to iHeart Media, Inc. with regard to the restructuring of its nearly $20 billion in indebtedness.

Zohar III Corp. Counsel to Controlling Class of Noteholders

Representation of the controlling class of noteholders of Zohar III Corp. in the Zohar III Bankruptcy cases and in other litigation.

Cumulus Media, Inc. Counsel to Ad Hoc Group of First Lien Lenders

Representation of the ad hoc group of first lien lenders to Cumulus Media, Inc. that were owed more than $1.6 billion. Cumulus is the owner and operator of the second largest group of radio stations in the United States (446 stations in 90 markets reaching 65 million listeners) as well as radio content provider Westwood One, Inc.

Passage Midland Meadows Operations, LLC Counsel to Welltower Inc.

Representation of Welltower Inc. in the Chapter 11 bankruptcy cases of Passage Midland Meadows Operations, LLC, et al., in the United States Bankruptcy Court for the Southern District of West Virginia, and in a receivership proceeding in the United States District Court for the Northern District of Ohio. The Bankruptcy Court ruled in favor of Welltower on all issues. 

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Recognition

Chambers USA
Our Bankruptcy and Restructuring group has been recognized annually by Chambers USA as having a leading bankruptcy practice and leading individuals in the restructuring field.

In its 2018 edition, Chambers USA quoted our clients, noting that "All the lawyers are incredibly smart, creative and very calm under pressure." Previous editions of Chambers have praised the group, stating "The team's knowledge is unparalleled; they're the best lawyers in their practice area, and with that comes not only timeliness, but also pragmatism and business-friendly solutions."

The Legal 500 US
Arnold & Porter has been recognized annually by The Legal 500 US for Bankruptcy and Restructuring.
U.S. News & World Report and Best Lawyers
Arnold & Porter has been recognized nationally as a "Top Tier" firm by U.S. News & World Report and Best Lawyers as one of the "Best Law Firms" for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization.
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Overview

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