NEW YORK, July 29, 2015 /PRNewswire/ -- The Deal announced the results of its quarterly rankings of the top firms and professionals involved in active bankruptcy cases for the second quarter of 2015. Collected data captures only active bankruptcy work on ongoing U.S. and Canadian cases.
"In recent months, advisers said they saw distress, particularly in the oil and gas sector, due to a number of factors, including supply outpacing the increase in demand," said Kelsey Butler, bankruptcy reporter at The Deal. "Advisers expect this to not only continue, but to also cause a ripple effect for the rest of 2015 that will negatively impact those that supply goods."
League Table highlights:
- Akin Gump Strauss Hauer & Feld LLP moved to the top spot for bankruptcy law firms by volume with $1,070.9 billion in liabilities, followed by Vedder Price PC with $1,031.0 billion in liabilities. Duane Morris LLP was ranked third, up three spots from sixth in Q1 2015, with $977.9 billion in liabilities. DLA Piper retained its ranking of fourth with $946.0 billion in liabilities.
- Among lawyers by volume, the top five bankruptcy lawyers retained their rankings from last quarter. Douglas Rosner (Goulston & Storrs PC) ranked first, followed by Richard Hahn (Debevoise & Plimpton LLP), Scott Davidson (King & Spalding LLP), Daniel Golden (Akin Gump Strauss Hauer & Feld LLP) and Peter Gilhuly (Latham & Watkins LLP).
- For investment banks by volume, the top three banks kept their rankings since Q2 2014. Blackstone Group LP maintained its lead with $831.4 billion in liabilities, followed by Miller Buckfire & Co. LLC in second place with $726.1 billion in liabilities. Jefferies LLC was in third place with $118.3 billion in liabilities. Solic Capital Advisors LLC remained in the fourth spot from last quarter with $65.0 billion in liabilities. Millstein & Co. moved up two spots to rank fifth with $69.6 billion in liabilities.
- The top three investment bankers kept their rankings from Q2 2014 by volume with Timothy Coleman (Blackstone Group LP) in the lead, followed by Stuart Erickson (Miller Buckfire & Co. LLC) and Leon Szlezinger (Jefferies LLC). Steven Zelin (Blackstone Group LP) moved up one spot from last quarter to rank fourth.
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 has offices in New York, London, Washington, D.C., Petaluma, CA and Chennai, India. For more information, visit www.thedeal.com.
SOURCE TheStreet, Inc.