S&C's restructuring and bankruptcy litigation practice has been involved in a number of the most significant restructuring matters in recent years. Our business model rests on three competitive strengths:
- Multidisciplinary Excellence. A significant corporate reorganization is a multidisciplinary assignment. Few firms match the quality of S&C across the major corporate and litigation disciplines. S&C is unique in its ability to handle all elements of a corporate restructuring – whether or not an insolvency proceeding may be used as a tool – with world-class resources.
- Innovative Techniques. We approach a restructuring situation as sophisticated deal lawyers, with broad experience in corporate law and global transactional practice. We are equally comfortable with bankruptcy and non-bankruptcy execution paths. In bankruptcy, our cases are marked by the successful adoption of innovative capital markets and M&A techniques to the legal requirements of Chapter 11 or foreign insolvency regimes.
- Specialization in Going Concern Reorganizations. We specialize in going concern reorganizations. As a result, we have a different mindset, culture and toolbox than generalist 'bankruptcy' lawyers.
SELECTED REPRESENTATIONSSullivan & Cromwell lawyers have been involved in hundreds of restructuring transactions, and more specific credentials are available upon request for any industry or jurisdiction. Representative matters include:
- Abengoa SA steering committee of banks in the global Chapter 11 reorganization and Spanish homologation proceedings (“Restructuring Deal of the Year,” IFLR Europe 2018; “Legal Advisor of the Year,” Institute of Financial Turnaround 2017)
- The international dealer-managers in the $102.5 billion sovereign debt restructuring of the Republic of Argentina
- Ascent Resources Marcellus in its successful prepackaged Chapter 11 filing
- AT&T in its $1.875 billion section 363 acquisition of Nextel Mexico
- California Resources Corporation in its deleveraging and liability management transactions
- Eastman Kodak Company in its successful global Chapter 11 reorganization
- Energy Future Holdings official committee of unsecured creditors (largest operating Chapter 11 case ever filed in Delaware and the largest M&A transaction, by cash consideration, completed in a Chapter 11 proceeding)
- Koninklijke Philips, the largest unsecured creditor, in relation to Gibson Brands Inc.’s Chapter 11 bankruptcy
- Quality Care Properties, Inc. in the proposed acquisition of HCR ManorCare, Inc. through a plan of reorganization
- Zim Integrated Shipping Services in its out-of-court restructuring (“Restructuring Deal of the Year,” Marine Money 2015; “Financial Restructuring Award,” The IFT 2015; “Restructuring Deal of the Year,” M&A Advisor Dealmakers 2014)