The Deal Announces Q4 2015 Out-of-Court Restructuring League Tables

Feb 12, 2016, 10:00 ET from TheStreet, Inc.

NEW YORK, Feb. 12, 2016 /PRNewswire/ -- The Deal, a business unit of TheStreet, Inc. (NASDAQ: TST), announced the results of its exclusive rankings of the top investment banks, law firms and restructuring advisers involved in out-of-court restructurings. Data collected captures advisers to distressed companies with financial restructurings active between Oct. 1 and Dec. 31, 2015.

"Regional supermarket chains have been struggling to compete with larger national chains, with several grocers filing for bankruptcy protection in 2015," said The Deal's bankruptcy reporter, Kirk O'Neil. "Many more regional chains will need to file for Chapter 11 in 2016 unless they make changes to their business model, such as offering online shopping solutions and other customer service enhancements to attract customers."

League Table highlights:

  • Moelis & Co. LLC moved up one spot to become the top financial adviser to distressed companies in the fourth quarter, with 21 deals. Lazard Ltd. was second, with 20 deals. Houlihan Lokey ranked third, with 12 deals, followed by Jefferies LLC, with 10 deals.
     
  • Houlihan Lokey remained in the top spot for financial advisers to creditors, with six deals. PJT Partners Inc. was second, with five. Moelis & Co. LLC and Rothschild ranked third and fourth, with four and three deals, respectively.
     
  • Among law firms, Kirkland & Ellis LLP was the top counsel to distressed companies, with 10 deals, followed by Cleary Gottlieb Steen & Hamilton LLP, with eight. Weil, Gotshal & Manges LLP was third, with five deals.
     
  • David Polk & Wardwell LLP ranked first for the top counsel to creditors, with nine deals. Latham & Watkins LLP ranked second, with seven deals. Akin Gump Strauss Hauer & Feld LLP ranked third, with six deals. Cadwalader, Wickersham & Taft LLP and Kirkland & Ellis LLP tied for fourth, with five deals each.
     
  • FTI Consulting Inc. and Alvarez & Marsal LLC ranked first and second, respectively, as the top restructuring advisers to distressed companies. FTI Consulting Inc. had 10 deals. Alvarez & Marsal LLC had nine. Deloitte ranked third, with four deals. AlixPartners LLP and PricewaterhouseCoopers LLP tied for fourth place, one spot down from last quarter, with three deals each.

The report is available online. For more information about The Deal's Out-of-Court Restructuring coverage, go to http://www.thedeal.com/the-deal/out-of-court-restructuring.

About The Deal's Out-of-Court Restructuring League Tables
The Deal's Out-of-Court Restructuring league tables are based on distressed companies that have announced financial restructurings for the first half of 2015. Minimum requirements for inclusion include: announcement date between Oct. 1 and Dec. 31, 2015; at least one (1) piece of debt amount stated (bond, note, loan, credit facility, etc.); credit facility security (secured or unsecured); and name of the distressed company. Roles in the league tables will be: legal advisory, financial advisory and other advisory (including Public Relations or Restructuring Adviser).

About The Deal
The Deal is a media and technology company providing over 100,000 users with actionable ideas from its two services - The Deal & BoardEx.  Law firms, investment banks, private equity firms and hedge funds use The Deal service to find their next deal and BoardEx to connect the dots between their organizations and clients.  The Deal has offices in New York, London, Washington, D.C., Petaluma, CA and Chennai, India. For more information, visit www.thedeal.com.

Contact: Ashley Klepach 212.321.5048 Ashley Klepach at thestreet.com 

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SOURCE TheStreet, Inc.



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