Latham & Watkins has developed a wide corporate restructuring and bankruptcy litigation practice, providing both debtor-side and creditor-side support to clients. The team advises on a range of cases, including mass tort liabilities, Chapter 11 restructurings, and supporting clients with liability management. Spearheading the practice are Ray Schrock, who represents clients in complex liability management transactions, Andrew Parlen, who advises on an array of distressed debt matters in and out of court, and John Sobolewski, who has a notable specialism in liability management matters. Los Angeles-based Jeff Bjork brings over 20 years of experience in restructuring cases, while George Davis assists boards and management teams facing complex liability management transactions, recapitalizations, restructurings, and other special situations transactions. Candace Arthur represents clients in corporate matters with a focus on distressed situations, including advising BeyondMeat. Helena Tseregounis, who is based in Los Angeles, undertook a lead role as debtor counsel for Maverick Gaming LLC in its Chapter 11 proceedings. Alexander Welch brings a deep understanding of cross-border insolvency matters, while Ryan Dahl encompasses a wide array of transactional and litigation matters. Other key names include Caroline Reckler, who splits her time between Chicago and New York, George Klidonas and Jason Gott, both in New York. All lawyers mentioned are based in New York, unless otherwise stated.

Legal 500 Editorial commentary

Accolades

Client satisfaction: Sector knowledge

Client satisfaction: NPS ®

Testimonials

Collated independently by Legal 500 research team.

‘Latham & Watkins exemplifies market leadership in risk advisory through a distinctive blend of deep sector expertise and a collaborative ethos.'
‘The Latham & Watkins team stands apart in the mass tort, legacy liability, and risk advisory space. They are able to synthesize legal, financial, and operational perspectives into actionable, client-focused strategies.'
‘Jeff Bjork is one of the best bankruptcy lawyers in the United States. He is relentless, tireless, creative, whip smart, and calm under pressure.'
‘The team is particularly knowledgeable in the area of mass tort, having dealt with some of the most difficult and complex tort-driven restructurings.’
'Helena Tseregounis is a leader in company-side matters, particularly in the mass tort arena.'
'Ray Schrock is an incredible leader of the group, with unparalleled experience and leadership.'

Key clients

AIG Financial Products Corp.
ASB Opco LLC
Astrana Health, Inc.
Beyond Meat, Inc.
BMI Oldco Inc.
Camping World
Capital One
CareerBuilder + Monster
eHealth
Exela Technologies
Golub Capital
IG Design Group Americas, Inc.

Work highlights

Advised Wolfspeed, Inc., a leader in silicon carbide semiconductor technologies used in electric vehicles and renewable energy, in connection with its pre-packaged Chapter 11 reorganization, reducing debt by about US$4.6 billion.

Represented Tropicana Brands Group in a large liability management transaction, including significant financing totaling US$2.9 billion, with near-unanimous lender consent.

Represents ModivCare, a technology-enabled healthcare services company, in its pre-arranged Chapter 11 process, facilitating a comprehensive restructuring to reduce debt by more than US$1 billion and transition ownership.

Lawyers

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