Posts by: Orrick Restructuring Group

Orrick Ranked Among Top Ten Bankruptcy Law Firms

Posted on

The Deal has once again recognized Orrick as a Top Ten Bankruptcy Law Firm in its Q1 2016 Bankruptcy League Tables. After being named to the top ten in each quarter last year, Orrick extended the streak by gaining one spot in the rankings (now #7).

During a busy Q1 period, we advised several clients on a diverse blend of bankruptcy matters, with a particular emphasis in the areas of distressed energy, municipal debt and cross-border restructurings.

The Deal’s Bankruptcy League Tables are the industry’s only league tables focused solely on active bankruptcy cases. These rankings are compiled on a quarterly basis through comprehensive deal intelligence to identify the top law, crisis management, investment, and non-investment firms and professionals involved in bankruptcy transactions throughout the United States.

Orrick Named Top Ten Bankruptcy Law Firm in Every 2015 Quarter

Posted on

DealPipelineTablesQ415Once again, Orrick has been ranked a Top Ten Bankruptcy Law Firm by The Deal Pipeline. These rankings are released on a quarterly basis, compiling comprehensive deal intelligence to identify the leading law, crisis management, investment, and non-investment firms and professionals involved in bankruptcy transactions throughout the United States. After cracking the top ten in Q1, Orrick remained among the top ten bankruptcy law firms in every quarter in 2015.

Orrick’s restructuring team enjoyed a busy year, including such recent highlights as representing the City of Stockton in its exit from bankruptcy and dismissal of an appeal filed by holdout creditor Franklin Templeton in the US Bankruptcy Appellate Panel of the Ninth Circuit; Tirreno Power on a complex corporate reorganization including the negotiation and drafting of a €1 billion debt restructuring agreement, which was awarded Restructuring Deal of the Year at the 2016 Legalcommunity Energy Awards; and IFM Investors Pty Ltd, on behalf of IFM Global Infrastructure Fund, in its $5.72 billion acquisition of 100% of the membership interests of ITR Concession Company, which operates and maintains the Indiana Toll Road – named M&A Deal of the Year by ​M&A Advisor.

To see the complete list of rankings, please click here.

VIDEO: Debtwire European Distressed Debt Market Outlook 2016

Posted on

Orrick partner and co-head of Europe Restructuring Stephen Phillips recently joined a Debtwire panel on potential high yield restructurings in Europe and current volatile market conditions at the 12th European Distressed Debt Market Outlook. Several videos from the launch are now available on Debtwire’s site.

sphillipsdebtwire

For more information, please contact Stephen.

 

Debtwire European Distressed Debt Market Outlook 2016

Posted on

Distressed investors did not witness the anticipated wave of European high yield restructurings in 2015, but with significant stock market declines and a growing sense of economic anxiety, participants in the 12th European Distressed Debt Market Outlook expect a marked increase in restructuring activity in 2016. Despite improved European growth and stronger U.S. economic data, falling commodity prices (particularly oil) and the higher number of high yield bonds trading at distressed levels suggest another year of volatility is in store.

Orrick partner and co-head of Europe Restructuring Stephen Phillips recently joined the Debtwire panel addressing these issues. For more information, please contact Stephen.

To access the full report, click here.

M&A Advisor Names ITR Transaction Distressed M&A Deal of the Year at Annual Turnaround Awards

Posted on

M&A Advisor selected the restructuring of ITR Concession Company, operator of Indiana Toll Road, and its ensuing $5.725 billion sale to IFM Investors, as the Distressed M&A Deal of the Year (in the over $1 billion category) at its 10th Annual Turnaround Awards. A cross-practice Orrick team featuring Young Lee and Dan Mathews of the Energy & Inf​rastructure Group, King Milling and Tal Hacohen of the Corporate Group and Lorraine McGowen of the Restructuring Group advised on the matter. In November, a separate M&A Advisor judging committee also recognized this matter as its M&A Deal of the Year.

The M&A Advisor Turnaround Awards honor the accomplishments of the leading distressed investing, restructuring and turnaround firms and professionals.

Investing in Southern Europe

Posted on

Leaving aside the drama of the Greek crisis, Southern Europe is in recovery from a long recession.  Our recent panel of experts discussed investment opportunities in Italy, Spain and  Portugal.

Topics covered include the nature of the opportunities they are working on and the commercial environment facing investors who are looking to undertake  new money debt,  equity and distressed debt investments in the region. The audience was updated on the significant recent developments in the  insolvency laws in Spain and Italy which are designed to facilitate corporate restructuring. We also addressed some of the English law restructuring procedures which investors have used where local law measures have not proved suitable.

The live video presentation from this event is available here, and the presentation materials from this seminar are also available at this link.

2015 Oil & Gas Outlook Follow-Up Report

Posted on

oilgasfollowupOrrick’s Restructuring Practice Chair, Raniero D’Aversa, recently sat on The Deal Pipeline’s expert panel, a 60 minute round table which addressed the present issues in the oil and gas industry and provided viewers with an insight into the key factors for their success in 2015.

Please click here here for this follow-up report.

Orrick Ranked Among Top Ten Bankruptcy Law Firms

Posted on

2015Q1_250x150_Bnk_COrrick has been ranked a Top Ten Bankruptcy Law Firm by The Deal Pipeline. These rankings are compiled on a quarterly basis through comprehensive deal intelligence to identify the top law, crisis management, investment, and non-investment firms and professionals involved in bankruptcy transactions throughout the United States.

Recent highlights for Orrick’s restructuring team include advising the City of Stockton, California on the confirmation of its chapter 9 plan of adjustment and its successful exit from bankruptcy; representing the bidding lenders in a potential $400 million post-petition DIP financing for the City of Detroit; and advising several of the world’s largest banks in the $6 billion restructuring of the Indiana Toll Road—the largest toll-road debt restructuring to date. For their work on these and other matters, the Orrick team was recognized by Law360 as one of the publication’s Bankruptcy Practice Groups of the Year.

To see the full list of rankings, please click here.

Supreme Court Removes Cloud Over Bankruptcy Judges’ Powers, But Creditors Need To Remain Vigilant

Posted on

On February 23, we reported on a case pending before the U.S. Supreme Court:  Wellness International Network, Limited v. Sharif.  On May 26, the Supreme Court in Wellness held that parties may waive their right to have certain claims decided by a court other than a Bankruptcy Court and that the waiver need not be express.  It can be implied as a result of a litigant’s conduct.  No. 13-935, 575 U.S. ___ (2015).

READ MORE →

2015 Oil and Gas Outlook Webcast

Posted on

OilGas_227x114The recent dip in oil prices has set many leading oil and gas companies into situations of financial distress, which could lead to increased deal flow in the second half of the year as these companies are faced with a need to sell assets.

On May 19th, Orrick’s Restructuring Practice Chair, Raniero D’Aversa, sat on The Deal Pipeline’s expert panel, a 60 minute round table which addressed these issues in the oil and gas industry and provided viewers with an insight into the key factors for their success in 2015.

This webcast is available for viewing here.