The Deal Announces H1 2015 Out-Of-Court Restructuring League Tables

Aug 04, 2015, 11:53 ET from TheStreet, Inc.

NEW YORK, Aug. 4, 2015 /PRNewswire/ -- The Deal 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 Jan. 1 and June 30, 2015.

"Restructuring advisers have been busy in the first half of this year, as the downturn in the energy industry has caused restructuring in the coal sector, among oil and gas exploration and production companies and also service companies," said The Deal's senior editor Jamie Mason. "Many of these distressed energy companies have only completed the first round of their restructurings though, so more activity is expected for the remainder of this year and into next year."

League Table highlights:

  • Lazard Ltd. was the top financial adviser to distressed companies with 15 deals, while Evercore Partners Inc. was ranked second with 13 deals. Houlihan Lokey ranked third, with 11 deals, followed by Moelis & Co. LLC with 10 deals.
  • Houlihan Lokey was the top financial adviser to creditors with 14 deals, while Moelis & Co. LLC was second with eight deals. Blackstone Advisory Partners LP and Lazard Ltd. tied for third with five deals each.
  • Amongst law firms, Kirkland & Ellis LLP and Latham & Watkins LLP were tied for the top counsel to distressed companies with eight deals each. Skadden, Arps, Slate, Meagher & Flom LLP followed in third place with five deals.
  • Latham & Watkins was also ranked first for the top counsel to creditor with eight deals. Akin Gump Strauss Hauer & Feld LLP ranked second with six deals. Cleary Gottlieb Steen & Hamilton LLP, Davis Polk & Wardwell LLP and Dentons all ranked third 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 seven deals as the adviser to distressed companies, while Alvarez & Marsal LLC had six.

The full report is available online.

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 Jan. 1 and June 30, 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 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 has offices in New York, London, Washington, D.C., Petaluma, and Chennai, India. For more information, visit www.thedeal.com.

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SOURCE TheStreet, Inc.



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