NEW YORK, April 25, 2016 /PRNewswire/ -- The Deal, a business unit of TheStreet Inc. (NASDAQ: TST), announced the results of its quarterly rankings of the top firms and professionals involved in active bankruptcy cases for the first quarter of 2016. Collected data captures only active bankruptcy work for ongoing U.S. and Canadian cases.
"Retail bankruptcies, both large and small, were notable events in the first quarter," said Andrew Hedlund, bankruptcy reporter for The Deal. "This trend will likely continue, as more retailers have encountered financial distress this year. The sector will likely continue presenting restructuring professionals with opportunities as more retailers look to address debt loads and financial difficulties, both in court and out of court."
League Table highlights:
- Akin Gump Strauss Hauer & Feld LLP remained in the top spot for bankruptcy law firms by volume, with $1,029.1 billion in liabilities. Latham & Watkins LLP followed, with $1,007.2 billion in liabilities. Vedder Price PC ranked third, with $996.6 billion in liabilities. Dentons followed in fourth with $943.1 billion in liabilities and DLA Piper ranked fifth with $938.9 billion in liabilities.
- Among lawyers by volume, Peter Gilhuly (Latham & Watkins LLP) ranked first, followed by Douglas Rosner (Goulston & Storrs PC), Daniel Golden (Akin Gump Strauss Hauer & Feld LLP), Richard Hahn (Debevoise & Plimpton LLP) and Scott Davidson (King & Spalding LLP).
- For investment banks by volume, Lazard Ltd. moved into the top spot, with $121.8 billion in liabilities. Miller Buckfire & Co. LLC followed in second, with $113.1 billion in liabilities. PJT Partners Inc. was third, with $97.7 billion each in liabilities. Houlihan Lokey Inc. ranked fourth, with $95.0 billion in liabilities.
- Steven Zelin (PJT Partners Inc.) moved to the top spot for investment bankers by volume in the first quarter of 2016. Neil Luria (Solic Capital Advisors LLC) ranked second, while Richard Klein (Jefferies LLC) ranked third. Leon Szlezinger (Jefferies LLC) ranked fourth, followed by Edward Casas (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 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 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, Petaluma, Calif., and Chennai, India. For more information, visit www.thedeal.com.
Contact: Ashley Klepach, 212.321.5048, Ashley Klepach at thestreet.com
SOURCE TheStreet, Inc.