TSL Express Daily News

Schulte Roth & Zabel is pleased to announce the formation of the firm’s dedicated Special Situations group. Co-chaired by partners Adam Harris and Doug Mintz, the Special Situations group is a multidisciplinary team focused on helping clients achieve their legal and financial objectives across the spectrum of stressed and distressed transactions. It is comprised of lawyers from practice groups across the firm, including Business Reorganization, Finance, Litigation, Mergers & Acquisitions, Securities, Distressed Trading and Tax.

As many restructurings are now being implemented out-of-court, companies are making use of a wide range of solutions and workouts to manage their financial difficulties, avoid insolvency and successfully navigate what can often be contentious matters involving different classes of creditors.  

“The Special Situations Group is responsive to our private capital clients’ needs as the breadth and process for restructuring transactions expands beyond straight-forward bankruptcy and into an array of potential transactions, including loan modifications, creative financing transactions, coercive exchanges and pre-negotiated bankruptcies,” said Doug. “This is a team that leverages the full range of our firm’s deep experience in providing counsel on complex out-of-court financial restructurings, Chapter 11 reorganizations and insolvency proceedings across a wide range of industries.”

“As more restructuring takes place outside of court, the ability of advisers to provide the full suite of restructuring advice that private funds expect has become mission-critical,” said Adam. “For Schulte, and our clients, this is not new. Our focus on private capital has for many years afforded us a comprehensive view into the unique issues our clients face in restructuring situations, incuding those relating to client-specific structuring issues, tax structuring and regulatory and compliance requirements.”

“Special situations require a high level of interaction and cooperation across multiple practice areas to ensure that clients receive the best possible counsel on complex operational and financial restructurings,” said Marc Elovitz, co-managing partner of Schulte. “Collaboration is in Schulte’s DNA, and we regularly advise our clients with the coordinated approach. The creation of this group represents a natural evolution of our collaborative structure to meet evolving client needs.”

The formation of Schulte’s Special Situations Group comes as the firm continues to receive recognition for its business advisory work with leading private funds. The Deal’s Q2 Restructuring and Bankruptcy League Tables ranked Schulte #2 for Counsel to Creditors and tied for #7 for Counsel to Distressed Companies. The firm has ranked in the top 10 for the former category for eight consecutive quarters and the latter for six consecutive quarters. In The Deal’s Q2 Bankruptcy League Tables, Schulte was ranked fifth overall for Law Firms based on dollar volume. The firm has ranked in the top ten for this category for five consecutive quarters.

In addition, Turnarounds & Workouts has recognized Schulte as one of the top Bankruptcy Tax Specialists in the US. The firm has also been recognized by Chambers and The Deal for its extensive advisory capabilities in complex restructurings and related proceedings.