NEW YORK, Feb. 3, 2015 /PRNewswire/ -- The Deal, TheStreet's (NASDAQ: TST) institutional business, announced the results of its quarterly rankings of the top firms and professionals involved in active bankruptcy cases for the fourth quarter of 2014. Data collected captures only active bankruptcy work on ongoing U.S. and Canadian cases.
"The bankruptcy space has definitely seen a slowdown in activity due to companies choosing other avenues for restructuring. These include out-of-court restructurings, assignments for the benefit of creditors and other remedies, which these advisers expect to continue to gain popularity in 2015," said Kelsey Butler, senior bankruptcy reporter at The Deal. "A continuing downturn in bankruptcy work due to factors including low interest rates, a stronger economy and the cost of the Chapter 11 process itself may result in shrinking bankruptcy practices at law firms."
League Table highlights:
- Saul Ewing LLP held onto its ranking from Q2 2014 as the top law firm by volume with $1,091.9 billion in liabilities; Akin Gump Strauss Hauer & Feld LLP was ranked second, with $1073.1 billion in liabilities, followed by Vedder Price PC, with $1061.0 billion liabilities. Duane Morris LLP was ranked fourth, down two spots from second in Q3 2014, with $951.3 billion in liabilities.
- Amongst lawyers by volume, Michael Schein (Vedder Price PC) held on to his top ranking from last quarter, followed by Douglas Rosner (Goulston & Storrs PC), Richard Hahn (Debevoise & Plimpton LLP), Scott Davidson (King & Spalding LLP) and Daniel Golden (Akin Gump Strauss Hauer & Feld LLP).
- For investment banks by volume, the top four banks held on to their rankings since Q2 2014. Blackstone Group LP maintained its lead with $810.2 billion in liabilities, followed by Miller Buckfire & Co. LLC in second place with $702.9 billion in liabilities, Jefferies LLC in third place with $98.8 billion in liabilities, Centerview Partners LLC in fourth place with $65.0 billion in liabilities. Peter J. Solomon Co. ranked fifth with $50.4 billion in liabilities.
- The top four investment bankers held onto their rankings from Q2 by volume with Timothy Coleman (Blackstone Group LP) in the lead, followed by Stuart Erickson (Miller Buckfire & Co. LLC), Leon Szlezinger (Jefferies LLC) and Steven Zelin (Blackstone Group LP).
The full suite of rankings is available now on The Deal, the transaction information service powered by The Deal's newsroom and the full report is also available online.
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 liabilities of $10 million or more. The rankings are based on the aggregation of those liability 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 U.S. and Canadian bankruptcy cases irrespective of debtor asset size. Professionals receive credit for multiple assignments on one case.
About The Deal
The Deal is a media and relationship capital company providing over 100,000 users with business opportunities sourced from proprietary deal news and a relationship discovery tool. Law firms, investment banks, private equity and hedge funds use The Deal's insight and analysis about potential and announced transactions to find their next deal and BoardEx's service and database for building relationships. The Deal is the institutional arm of TheStreet, Inc. and has offices in New York, London, Washington, D.C., Petaluma, CA and Chennai, India. For more information, visit www.thedeal.com.
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SOURCE TheStreet, Inc.
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