The thing that strikes you the most about Paul, Weiss is the depth of the practice. They just have a large number of senior partners, all of whom are of an outstanding quality. 
- Chambers USA, Band 1 for Bankruptcy/Restructuring (Nationwide and NYC) and "Bankruptcy Law Firm of the Year" in 2019
PUBLICATIONS
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Market-Leading Industry Insights
Our team regularly provides clients with updates on key industry developments and consistently contributes to the most well-respected restructuring publications.
» View a complete list of our recent restructuring client memos and publications
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Conflicting Rulings on Applicable Rate of Postpetition Interest Set the Stage for Hertz Post-Confirmation Interest Rate Litigation
A bankruptcy judge in Delaware recently confirmed the chapter 11 plan filed by The Hertz Corporation debtors. Just prior to confirmation, the debtors filed a revised plan that proposed to pay unimpaired unsecured creditors postpetition interest at the federal judgment rate, while reserving the right for the unsecured creditors.
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Second Circuit Finds 2017 Fee Increase for Chapter 11 Debtors Unconstitutional, Awards Debtors a Refund
The Second Circuit recently held that a congressionally mandated 2017 increase to the quarterly fees paid by chapter 11 debtors violated the Constitution’s uniformity clause, because it applied only to debtors that filed for bankruptcy in U.S. Trustee Program jurisdictions, but not to those who filed in non-UST Program jurisdictions. The court awarded Clinton Nurseries, Inc. a refund.
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New York Bankruptcy Court Approves Two Structured Dismissals Post-Jevic
In two recent rulings, the Bankruptcy Court for the Southern District of New York approved the structured dismissals of the chapter 11 cases of the A&P grocery store chain and the Il Mulino family of restaurants. The court rejected arguments that the structured dismissals violated the Supreme Court’s Jevic decision, which held that structured dismissals cannot be approved over the dissent of affected creditors if distributions are made to junior creditors in violation of the Bankruptcy Code’s absolute priority rule.
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Southern District of Texas Bankruptcy Court Rules That Indenture Trustees Must Provide a Substantial Contribution in Exchange for Payment of Fees by Estate
The U.S. Bankruptcy Court for the Southern District of Texas held indenture trustees must satisfy the “substantial contribution” standard to obtain administrative expense status for their fees and expenses in a chapter 11 case.
Firm of Choice When It Matters
Clients come to us with their most complex, high stakes matters. Learn more about representative engagements here:
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Seamless Multidisciplinary Approach
The full suite of the firm's resources are leveraged to protect and further our clients' interests. Learn more about the firm’s market-leading practices here:
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Comprehensive Industry Experience
Our experience spans a diverse array of industries. Learn more about representative engagements here:
» Consumer Products, Retail & Apparel
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» Utilities, Coal, Power & Other Energy
Top-Tier Restructuring Practice
At a high level, working with the firm is great because not only is the restructuring group strong, but the firm in general is excellent, so you know you are well represented. - Chambers USA » Learn more about our recent awards and recognition
Client News & Insights
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Alan Kornberg Receives New York Law Journal’s “Lifetime Achievement Award”
Restructuring partner Alan Kornberg received a “Lifetime Achievement Award” as part of the New York Law Journal’s 2021 New York Legal Awards.
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Kelley Cornish Honored as Notable LGBTQ Leader by Crain’s New York Business
Restructuring partner Kelley Cornish has been named to Crain’s New York Business’s 2021 “Notable LGBTQ Leaders and Executives” list.
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U.S. Supreme Court Declines to Disturb the Fifth Circuit’s Ruling That Coal Miner Retiree Health Benefits Can Be Modified in Bankruptcy
The U.S. Supreme Court recently denied a certiorari petition filed by certain benefit plan trustees arising out of the chapter 11 bankruptcy of Westmoreland Coal Company.
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Paul, Weiss Advises Ad Hoc Term Lender Group in Covia Bankruptcy
Paul, Weiss advised an ad hoc group of term loan lenders in connection with the prearranged chapter 11 case of Covia Holdings Corporation in U.S. Bankruptcy Court for the Southern District of Texas.
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Kyle Kimpler Named to ABI’s 40 Under 40
Restructuring partner Kyle Kimpler was named to the American Bankruptcy Institute’s 2021 “40 Under 40” honorees.
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Apollo, Knighthead and Certares Sponsor Plan to Fund Hertz’s Exit From Bankruptcy
Paul, Weiss is advising funds and accounts managed by affiliates of Apollo Capital Management, L.P. in a joint proposal, alongside Knighthead Capital Management LLC and Certares Opportunities LLC, to sponsor Hertz Global Holdings, Inc.’s chapter 11 plan of reorganization and to fund Hertz’s and its affiliates’ exit from bankruptcy.
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Alan Kornberg and Elizabeth McColm Author Chapter in ICLG’s Restructuring & Insolvency 2021 Guide
Restructuring partners Alan Kornberg and Elizabeth McColm wrote the “USA” chapter of The International Comparative Legal Guide (ICLG) – Restructuring & Insolvency Laws & Regulations 2021, published by the Global Legal Group Ltd., London.
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Diamond Offshore Drilling Emerges From Chapter 11
Paul, Weiss represented Diamond Offshore Drilling, Inc., a Houston-based offshore rig contractor, and its subsidiaries in their successful restructuring and chapter 11 cases.
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Jacob Adlerstein Authors Two Chapters in Getting the Deal Through
Restructuring partner Jacob Adlerstein authored the “United States” and “Global Trends” chapters of the 2021 edition of Getting the Deal Through – Restructuring & Insolvency, published by Law Business Research Ltd.
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The Deal Highlights Paul, Weiss as Leading Adviser to Acquirers in Chapter 11 Cases During COVID-19 Pandemic
In “Restructuring Insider: Paul Weiss Tops Acquirer Counsels,” The Deal highlighted Paul, Weiss as the leading U.S. adviser to acquirers of distressed assets in chapter 11 cases during the COVID-19 pandemic.
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Kelley Cornish Featured in LEADERS Magazine
Restructuring partner Kelley Cornish was featured in a Q&A in LEADERS magazine’s January 2021 issue.
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Gulfport Energy Emerges From Chapter 11
Paul, Weiss advised an ad hoc group of unsecured noteholders of Gulfport Energy Corporation, an independent returns-oriented, gas-weighted, exploration and development company, in the company’s successful restructuring.
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The Collected Group Wins Approval for Reorganization Plan
Paul, Weiss is advising California-based fashion brand owner The Collected Group and its debtor subsidiaries in their chapter 11 cases.