NEW YORK, May 1, 2014 /PRNewswire/ -- The Deal, TheStreet's (NASDAQ: TST) institutional business, announced the results of their quarterly rankings of the top firms and professionals involved in active bankruptcy cases for the first quarter of 2014.
"Pre-planned bankruptcies have gradually become the rule rather than the exception. In recent years we have seen them occur in more jurisdictions and applied on increasingly complex cases, including some of the notable filings in the first quarter," reported Anders Melin, Senior Editorial Research Coordinate at The Deal. "Experts attribute this to the fact that creditors involved in cases have become more sophisticated about the strategy and have a better understanding of the likely fallout of lengthy proceedings."
League Table highlights:
- Top law firms were White & Case LLP with $1,044.2 billion in liabilities, Saul Ewing LLP with $1,042.0 billion in liabilities, Morgan, Lewis & Bockius LLP with $1041.4 billion in liabilities, Vedder Price PC with $1037.3 billion in liabilities and Skadden, Arps, Slate, Meagher & Flom LLP with $1,008.7 billion in liabilities.
- Amongst lawyers, Michael Schein (Vedder Price PC) held on to his top ranking from Q2 through Q4 2013, followed by Richard Hahn (Debevoise & Plimpton LLP), Douglas Rosner (Goulston & Storrs PC), Andrew Gottfried (Morgan, Lewis & Bockius LLP), and Scott Davidson (King & Spalding LLP).
- For the investment banks, Blackstone Group LP held its lead from Q3 and Q4 2013 with $705.0 billion in liabilities and 27 active cases, followed by Miller Buckfire & Co. LLC with $626.0 billion in liabilities, Houlihan Lokey Inc. with $59.5 billion in liabilities, Jefferies LLC with $45.2 billion in liabilities, and Moelis & Co. LLC with $37.8 billion in liabilities.
- Top investment banker was Timothy Coleman (Blackstone Group LP) maintaining his position from Q4, followed by Stuart Erickson (Miller Buckfire & Co. LLC), Leon Szlezinger (Jefferies LLC), Edward Casas (Solic Capital Advisors LLC) and Neil Luria (Solic Capital Advisors LLC).
About The Deal's Bankruptcy League Tables
The Deal's Bankruptcy League Tables are the industry's only league tables focused solely on active bankruptcy cases. The Bankruptcy League Tables by volume involve only active U.S. bankruptcy cases of debtors with assets of $10 million or more. The rankings are based on the aggregation of those asset values. The table reflects the number of active cases fitting that criteria and may not characterize the total number of active cases. Firms and professionals only get one credit for each active case, not each active assignment. The Bankruptcy League Tables by number involve global bankruptcy cases irrespective of debtor asset size. Professionals receive credit for multiple assignments on one case.
About The Deal
The Deal, a business unit of TheStreet, has been serving corporate dealmakers, advisers and institutional investors the most sophisticated analysis of the deal economy since 1999. Our transaction information service, The Deal Pipeline, is powered by a newsroom of senior journalists who offer proprietary research and reporting across M&A, bankruptcies, auctions and financings. It includes a breaking news service, First Take; daily and weekly sector newsletters; The Daily Deal, a 2x daily report of the day's top stories; a research center with over a decade's worth of intelligence and a database of over 100,000 deals; and an iPad app. Our marketing & media services group produces the industry's leading forecasting event, The Deal Economy, held annually in New York City in addition to industry webcasts and integrated marketing programs. For more information, visit www.thedeal.com.
SOURCE TheStreet, Inc.