April 6, 2017

Milbank Scoops Eight Awards at Turnaround M&A Atlas Awards; Dennis Dunne Named Global Restructuring Lawyer of the Year

Share

Honors include Private Equity Turnaround of the Year, Chapter 11 Restructuring of the Year, and Corporate Turnaround of the Year

Milbank, Tweed, Hadley & McCloy LLP made a strong showing at the Turnaround M&A Atlas Awards, earning eight awards at the 9th Annual Restructuring + Distressed Investing gala, held at Manhattan’s Metropolitan Club. The M&A Atlas Awards, presented by the Global M&A Network, recognize excellence in restructurings, distressed investing, insolvencies, turnarounds, and special situations M&A.

Dennis Dunne, partner and head of the firm’s Financial Restructuring Practice, was named Global Restructuring Lawyer of the Year.

The firm was also honored in the following categories:

  • Corporate Turnaround of the Year ($2.5B - $5B) – The Milbank team, led by Mr. Dunne and partner Samuel Khalil, represented the Ad Hoc Committee of Second Lien Noteholders in the $3 billion reorganization of offshore oil and gas driller Energy XXI Ltd.
  • Private Equity Turnaround of the Year (above $500M) – The Milbank team, led by Mr. Dunne advised private equity investor Oaktree Capital Management in the chapter 11 reorganization of global metal and mining company Molycorp, Inc.
  • Private Equity Turnaround of the Year ($200M - $500M) – The Milbank team, led by Mr. Dunne and Mr. Khalil, advised the Ad Hoc Committee of Second Lien Debtholders of ‎Quicksilver Resources Inc., a Fort Worth, Texas-based natural gas and oil exploration and production company, in its $2 billion reorganization.
  • Chapter 11 Restructuring of the Year ($5B - $15B) – The Milbank team, led by Mr. Dunne and partner Evan Fleck, acted as counsel to the Official Committee of Unsecured Creditors in the chapter 11 of leading American coal producer Alpha Natural Resources, a supplier of metallurgical coal for global steelmakers.
  • Chapter 11 Restructuring of the Year ($2.5B - $5B) – The Milbank team, led by Mr. Dunne, advised the Informal Committee, which was comprised of noteholders of multiple series of secured notes issued by certain Debtors, in connection with the chapter 11 of paper producer Verso.
  • Chapter 11 Restructuring of the Year ($250M - $500M) – The Milbank team, led by partners Mark Shinderman and Peter Newman, advised the ad hoc group of term loan lenders in connection with the Chapter 11 cases of Vertellus Specialties Inc., global manufacturer of specialty chemicals.
  • Energy Restructuring of the Year (above $1B) – The Milbank team, led by Mr. Dunne, represented the Cross-Over Ad Hoc Committee, in the chapter 11 reorganization which comprised of holders second lien senior secured notes due 2020 and the third lien senior secured notes issued by Midstates Petroleum Company, Inc. and Midstates Petroleum Company LLC.

Milbank’s Financial Restructuring Group advises stakeholders in all facets of insolvencies and distressed situations, handling matters worldwide. The firm is routinely ranked among the top restructuring practitioners by leading industry publications. Most recently Milbank represented Caesars Entertainment Corp. in the chapter 11 reorganization of more than $18 billion in debt held by its subsidiary, Caesars Entertainment Operating Co.; the Ad Hoc Group of Bondholders in the $7.2 billion restructuring of Nortel Networks Inc.; and noteholders in the $7.7 billion restructuring of LINN Energy LLC and its affiliates.