NEW YORK, Oct. 30, 2015 /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 third quarter of 2015. Collected data captures only active bankruptcy work on ongoing U.S. and Canadian cases.
"In recent months, the state of the credit market, Chapter 11 sales where there is nothing left over as well as pressure from senior lenders have all led to faster Chapter 11's," said Kelsey Butler, bankruptcy reporter at The Deal. "Industry professionals expect this trend to continue as we move into 2016."
League Table highlights:
- Akin Gump Strauss Hauer & Feld LLP remained in the top spot for bankruptcy law firms by volume, with $1,041.9 billion in liabilities. Vedder Price PC followed, with $973.6 billion in liabilities. Duane Morris LLP remained in the third spot, with $922.4 billion in liabilities. DLA Piper retained its ranking of fourth, with $915.3 billion in liabilities.
- Among lawyers by volume, Douglas Rosner (Goulston & Storrs PC) ranked first, followed by Daniel Golden (Akin Gumo Strauss Hauer & Feld), Peter Gilhuly (Latham & Watkins LLP), Richard Hahn (Debevoise & Plimpton LLP) and Scott Davidson (King & Spalding LLP).
- For investment banks by volume, the top three banks kept their rankings since Q2 2014. Blackstone Group LP maintained its lead, with $802.7 billion in liabilities. Miller Buckfire & Co. LLC followed in second place, with $726.1 billion in liabilities. Jefferies LLC and Solic Capital Advisors LLC tied for third place, with $83.8 billion each in liabilities. Millstein & Co. moved up to fourth place, with $69.6 billion in liabilities.
- The top two investment bankers kept their rankings from Q2 2014 by volume, with Timothy Coleman (Blackstone Group LP) in the lead. Stuart Erickson (Miller Buckfire & Co. LLC) followed. Steven Zelin (Blackstone Group LP) ranked third, followed by Neil Luria (Solic Capital Advisors LLC) and Richard Klein (Jefferies 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 is a business unit 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.
Contact: Aedin Moloney, 212.321.5541, Aedin.Moloney at thestreet.com
SOURCE TheStreet, Inc.