S&C was named a Bankruptcy “Practice Group of the Year” by Law360. In an interview with the publication, Andy Dietderich, Co-Head of S&C’s Global Finance & Restructuring Group, attributed the Firm’s success representing FTX to its ability to build consensus among different stakeholders: “The magic of the case was … aligning everybody around the consensus … to treat all the creditors as victims here and all the victims as creditors.”
Fellow Co-Head Jim Bromley echoed that this approach was applicable for both FTX and SVB: “We were able to bring the cases on a consensual basis through this process and out the other side without there needing to be long trials or expensive discovery or depositions and the like.”
The group’s recent accomplishments include guiding FTX Trading through its landmark bankruptcy proceedings, which culminated in its emergence from Chapter 11 in January, just over two years after its collapse and bankruptcy filing; managing the Chapter 11 proceedings of SVB Financial Group, which arose from the third largest bank failure in U.S. history; and advising Kidde-Fenwal in the first-ever Chapter 11 case aiming to resolve national mass tort liability related to “forever chemicals.”
S&C was named a “Firm of the Year” for its showing in these awards, with eight practices selected.