Bankruptcy and Restructuring
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.
- Bankruptcy Advice and Counseling
- Corporate Governance
- Creditor Practice
- Cross-Border Insolvencies
- Debtor Practice
- Distressed M&A and Asset Acquisition
- Financial Institutions and Broker-Dealer/Securities
- Insolvency Related Litigation
- Private Equity
- Real Estate and Hospitality
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.
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.
Representation of the controlling class of noteholders of Zohar III Corp. in the Zohar III Bankruptcy cases and in other litigation.
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.
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.
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."