Restructuring
Restructuring
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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Alan Kornberg and Elizabeth McColm Author USA Chapter in ICLG’s Restructuring & Insolvency Laws & Regulations 2021-2022
Restructuring partners Alan Kornberg and Elizabeth McColm wrote the “USA” chapter in the International Comparative Legal Guide (ICLG) to Restructuring & Insolvency Laws & Regulations 2021-2022, published by the Global Legal Group Ltd., London.
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Restructuring Department Bulletin - March 2022
In the latest issue of the Restructuring Department Bulletin, we highlight recent decisions impacting the restructuring arena, including the New Jersey Bankruptcy Court’s denial of Talc claimants’ motion to dismiss a Johnson & Johnson subsidiary’s chapter 11 case as not having been filed in good faith; and the Delaware Bankruptcy Court’s rejection of a chapter 7 trustee’s use of the IRS as a “golden creditor” to assert otherwise time-barred avoidance claims. We also share recent news on the Paul, Weiss Restructuring Department.
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Alan Kornberg Featured in Global Restructuring Review Profile
Restructuring partner Alan Kornberg was featured in a profile, “Heads-Up: Alan Kornberg at Paul Weiss in New York,” published in Global Restructuring Review.
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Elizabeth McColm and Brian Bolin Publish Chapter in Americas Restructuring Review 2022
Restructuring partners Elizabeth McColm and Brian Bolin, and associate Grace Hotz, co-authored a chapter in Americas Restructuring Review 2022, published by Global Restructuring Review.
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Kelley Cornish Quoted in Bloomberg Law Article
Restructuring partner Kelley Cornish was quoted in a Bloomberg Law article, “Corporate Bankruptcy Wave Turns to Dust, Defying Expectations.”
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Alan Kornberg and Claudia Tobler Publish U.S. Chapter in Lexology Getting the Deal Through – Restructuring & Insolvency
Restructuring partner Alan Kornberg and counsel Claudia Tobler co-wrote the “United States” chapter of the 2022 edition of Lexology Getting the Deal Through – Restructuring & Insolvency, published by Law Business Research Ltd.
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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.
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Comprehensive Industry Experience
Our experience spans a diverse array of industries. Learn more about representative engagements here:
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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 Honored at Her Justice Auction and Benefit
Restructuring Co-Chair Alan Kornberg was recognized as a leader in the restructuring community and advocate for pro bono work at the Her Justice 2022 Annual Photography Auction & Benefit.
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Kyle Kimpler Named a Turnarounds & Workouts 2022 “Outstanding Young Restructuring Lawyer”
Restructuring partner Kyle Kimpler was recognized among Turnarounds & Workouts’ 2022 “Outstanding Young Restructuring Lawyers.”
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Paul, Weiss Shortlisted for “Bankruptcy Law Firm of the Year” in Chambers USA Awards
Paul, Weiss has been shortlisted in the “Bankruptcy Law Firm of the Year” category as part of the Chambers USA Awards 2022.
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Paul, Weiss Leads DE&I Panel at American College of Bankruptcy Annual Conference; Receives Honorarium for DE&I Efforts
Paul, Weiss led a panel presentation, “The Compelling Business Case for ESG and DEI – Why Adopting Firms Have a Competitive Advantage,” at the American College of Bankruptcy’s annual conference on April 1.
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Kelley Cornish to Assume American College of Bankruptcy Leadership Role; Brian Hermann to Be Inducted to ACB Fellowship
Restructuring partner Kelley Cornish has been nominated to be Second Circuit Regent of the prestigious American College of Bankruptcy’s Board of Regents, and restructuring partner Brian Hermann has been elected an ACB Fellow.
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Paul, Weiss Recognized by IFLR Asia-Pacific Awards for Restructuring Deal of the Year
Paul, Weiss was recognized by the International Financial Law Review’s 2022 Asia-Pacific Awards in the “Restructuring Deal of the Year” category for the firm’s role in advising Boart Longyear Ltd. in schemes of arrangement.
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Paul, Weiss Adds Distinguished Restructuring Partner
Kenneth S. Ziman has joined Paul, Weiss as a partner in the Restructuring Department, resident in the New York office.
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Brian Hermann Named American College of Bankruptcy Fellow
Restructuring partner Brian Hermann has been elected a Fellow of the prestigious American College of Bankruptcy (ACB).
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Two Paul, Weiss Transactions Shortlisted for "Restructuring Deal of the Year" in IFLR Americas Awards
Two Paul, Weiss-led matters are shortlisted for "Restructuring Deal of the Year" in the International Financial Law Review’s 2022 IFLR Americas Awards.
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Alice Eaton Named Law360 MVP in Bankruptcy
Restructuring partner Alice Eaton was honored with a Law360 2021 MVP Award in the Bankruptcy category.
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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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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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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.
Events & Publications
Elizabeth McColm to Discuss Governance and Shared-Services Issues at American Bankruptcy Institute’s Complex Financial Restructuring Program
- May 11, 2022
- Events
Elizabeth McColm to Discuss Governance and Shared-Services Issues at American Bankruptcy Institute’s Complex Financial Restructuring Program
Restructuring partner Elizabeth McColm will participate in a panel on “Governance and Shared-Services Issues” at the American Bankruptcy Institute’s 2022 Complex Financial Restructuring Program.
Alan Kornberg and Elizabeth McColm Author USA Chapter in ICLG’s Restructuring & Insolvency Laws & Regulations 2021-2022
- May 05, 2022
- Publications
Alan Kornberg and Elizabeth McColm Author USA Chapter in ICLG’s Restructuring & Insolvency Laws & Regulations 2021-2022
Restructuring partners Alan Kornberg and Elizabeth McColm wrote the “USA” chapter in the International Comparative Legal Guide (ICLG) to Restructuring & Insolvency Laws & Regulations 2021-2022, published by the Global Legal…
Paul, Weiss Appoints Tracey Zaccone and Austin Witt as Heads, Hybrid Capital & Special Situations
- Apr 25, 2022
- Firm News
Paul, Weiss Appoints Tracey Zaccone and Austin Witt as Heads, Hybrid Capital & Special Situations
Paul, Weiss has appointed partner Tracey Zaccone as Head of Hybrid Capital and partner Austin Witt as Head of Special Situations.
Paul, Weiss Leads DE&I Panel at American College of Bankruptcy Annual Conference; Receives Honorarium for DE&I Efforts
- Apr 01, 2022
- Events
Paul, Weiss Leads DE&I Panel at American College of Bankruptcy Annual Conference; Receives Honorarium for DE&I Efforts
Paul, Weiss led a panel presentation, “The Compelling Business Case for ESG and DEI – Why Adopting Firms Have a Competitive Advantage,” at the American College of Bankruptcy’s annual conference on April 1.
Karen Zeituni to Moderate ABA Business Law Section Panel on Opioid Bankruptcies
- Apr 01, 2022
- Events
Karen Zeituni to Moderate ABA Business Law Section Panel on Opioid Bankruptcies
Restructuring counsel Karen Zeituni will moderate a panel, “Issues in Opioid Bankruptcies,” at the American Bar Association’s Business Law Section Spring Meeting.
Jake Adlerstein Authors Two Chapters in Lexology Getting the Deal Through – Restructuring & Insolvency 2022
- Mar 18, 2022
- Publications
Jake Adlerstein Authors Two Chapters in Lexology Getting the Deal Through – Restructuring & Insolvency 2022
Restructuring partner Jake Adlerstein wrote the “United States” and “Global Trends” chapters of the latest edition of Lexology Getting the Deal Through – Restructuring & Insolvency, published by Law Business Research Ltd.
Alice Nofzinger to Participate in Ms. JD Conference on Women in Law
- Mar 18, 2022
- Events
Alice Nofzinger to Participate in Ms. JD Conference on Women in Law
Restructuring associate Alice Nofzinger will host a fireside chat, “Advice to My Younger Me,” at the Ms. JD 14th Annual Conference on Women in Law, which promotes success for aspiring young women lawyers.
Restructuring Department Bulletin - March 2022
- Mar 09, 2022
- Publications
Restructuring Department Bulletin - March 2022
In the latest issue of the Restructuring Department Bulletin, we highlight recent decisions impacting the restructuring arena, including the New Jersey Bankruptcy Court’s denial of Talc claimants’ motion to dismiss a Johnson &…
Alan Kornberg Featured in Global Restructuring Review Profile
- Feb 18, 2022
- Publications
Alan Kornberg Featured in Global Restructuring Review Profile
Restructuring partner Alan Kornberg was featured in a profile, “Heads-Up: Alan Kornberg at Paul Weiss in New York,” published in Global Restructuring Review.
Elizabeth McColm to Speak at Wharton Restructuring and Distressed Investing Conference
- Feb 25, 2022
- Events
Elizabeth McColm to Speak at Wharton Restructuring and Distressed Investing Conference
Restructuring partner Elizabeth McColm will participate in a panel, “Recent Trends in Chapter 11: The Fate of Third Party Releases, Certain Liability Management Transactions, and Structured Dismissals,” as part of the Wharton…
Awards & Recognition
Paul, Weiss Wins Three IFLR Americas Awards
- May 19, 2022
- Awards
Paul, Weiss Wins Three IFLR Americas Awards
Paul, Weiss was recognized by the International Financial Law Review’s IFLR Americas Awards 2022 in three categories.
Alan Kornberg Honored at Her Justice Auction and Benefit
- May 10, 2022
- Awards
Alan Kornberg Honored at Her Justice Auction and Benefit
Restructuring Co-Chair Alan Kornberg was recognized as a leader in the restructuring community and advocate for pro bono work at the Her Justice 2022 Annual Photography Auction & Benefit.
Kyle Kimpler Named a Turnarounds & Workouts 2022 “Outstanding Young Restructuring Lawyer”
- Apr 21, 2022
- Awards
Kyle Kimpler Named a Turnarounds & Workouts 2022 “Outstanding Young Restructuring Lawyer”
Restructuring partner Kyle Kimpler was recognized among Turnarounds & Workouts’ 2022 “Outstanding Young Restructuring Lawyers.”
Paul, Weiss Shortlisted for “Bankruptcy Law Firm of the Year” in Chambers USA Awards
- Apr 11, 2022
- Awards
Paul, Weiss Shortlisted for “Bankruptcy Law Firm of the Year” in Chambers USA Awards
Paul, Weiss has been shortlisted in the “Bankruptcy Law Firm of the Year” category as part of the Chambers USA Awards 2022.
Paul, Weiss Shortlisted for Chambers USA Awards in Three Categories
- Apr 11, 2022
- Awards
Paul, Weiss Shortlisted for Chambers USA Awards in Three Categories
Paul, Weiss has been shortlisted in the “Banking & Finance Law Firm of the Year,” “Bankruptcy Law Firm of the Year,” and “Commercial Litigation Law Firm of the Year” categories as part of the Chambers USA Awards 2022.
Kelley Cornish to Assume American College of Bankruptcy Leadership Role; Brian Hermann to Be Inducted to ACB Fellowship
- Apr 01, 2022
- Awards
Kelley Cornish to Assume American College of Bankruptcy Leadership Role; Brian Hermann to Be Inducted to ACB Fellowship
Restructuring partner Kelley Cornish has been nominated to be Second Circuit Regent of the prestigious American College of Bankruptcy’s Board of Regents, and restructuring partner Brian Hermann has been elected an ACB Fellow.
Two Paul, Weiss Transactions Shortlisted for "Restructuring Deal of the Year" in IFLR Americas Awards
- Mar 30, 2022
- Awards
Two Paul, Weiss Transactions Shortlisted for "Restructuring Deal of the Year" in IFLR Americas Awards
Two Paul, Weiss-led matters are shortlisted for "Restructuring Deal of the Year" in the International Financial Law Review’s 2022 IFLR Americas Awards.
Paul, Weiss Shortlisted for Three IFLR Europe “Deal of the Year” Awards
- Mar 22, 2022
- Awards
Paul, Weiss Shortlisted for Three IFLR Europe “Deal of the Year” Awards
Paul, Weiss was shortlisted for three “Deals of the Year” as part of International Financial Law Review’s Europe Awards 2022.
Paul, Weiss Recognized by IFLR Asia-Pacific Awards for Restructuring Deal of the Year
- Mar 17, 2022
- Awards
Paul, Weiss Recognized by IFLR Asia-Pacific Awards for Restructuring Deal of the Year
Paul, Weiss was recognized by the International Financial Law Review’s 2022 Asia-Pacific Awards in the “Restructuring Deal of the Year” category for the firm’s role in advising Boart Longyear Ltd. in schemes of arrangement.
Brian Hermann To Receive Distinguished Service Award at Pace University’s Law Leadership Celebration
- Mar 10, 2022
- Awards
Brian Hermann To Receive Distinguished Service Award at Pace University’s Law Leadership Celebration
Restructuring partner Brian Hermann will be recognized with a Distinguished Service Award at the Pace University Elisabeth Haub School of Law’s 27th Annual Law Leadership celebration.