Global M&A Network has named Squire Patton Boggs as “USA Restructuring Law Firm of the Year – Middle Markets” at its 2020 Turnaround Atlas Awards ceremony, held on January 22, 2021. The firm also received two category awards: “Basic Resources Restructuring of the Year (value above US$500 million)” and “Media Restructuring of the Year.” According to Shanta Kumari, CEO and Global Group Editor at Global M&A Network, “the award[s] validate excellence, tireless work of professionals and firms. Winners should take pride for effectuating successful restructurings."
“We are honored to be recognized by Global M&A Network as USA Restructuring Law Firm of the Year and winners of two Turnaround Atlas transactions awards. The significance of winning the Law Firm of the Year award for the work of our entire US team, particularly in 2020 - a year that presented unforeseen, complex legal challenges, would not have been possible without this team’s steadfast dedication to delivering top-notch service to clients,” said Stephen D. Lerner, global chair of the Restructuring & Insolvency Practice Group. “I am proud of our team and look forward to carrying this momentum into 2021.”
Squire Patton Boggs was recognized with the “Basic Resources Restructuring of the Year (value above US$500 million)” award for its representation of coal producer Blackjewel LLC in its filing of voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code. Faced with an unprecedented emergency filing on less than 72 hours notice, Squire Patton Boggs, together with FTI Consulting and Jefferies, arranged for necessary financing to successfully complete more than ten section 363 sales of Blackjewel’s mining properties in four states in less than one month, maximizing value and preserving jobs for Blackjewel’s employees. The firm team was led by Stephen Lerner.
The firm also received the “Media Restructuring of the Year” award for its representation of the Official Committee of Unsecured Creditors of LBI Media, Inc. in its Chapter 11 case. Pursuant to its court-approved Chapter 11 reorganization plan, the Burbank, California-based Spanish language broadcaster shed US$350 million of debt in exchange for 100% of the company’s equity to lender and investment firm HPS Investment Partners. In addition to its new capital structure, Squire Patton Boggs’ efforts led to LBI Media’s trade and general unsecured creditors receiving nearly 100% recoveries under the company’s reorganization plan. Partner Norman N. Kinel, national chair of the Squire Patton Boggs Creditors’ Committee Practice, led the firm’s team.
“We have a reputation for aggressive representation as well as devising creative and innovative solutions which have led to highly successful outcomes in many of our committee and other engagements. The strength of our team’s capabilities and its ability to execute have contributed to our being named a Turnaround Atlas Award winner in multiple categories this year, in addition to similar awards we have received in prior years,” added Mr. Kinel.
The Squire Patton Boggs global Restructuring & Insolvency Practice Group is one of the world’s largest, most experienced and respected practices, with more than 130 experienced lawyers in 36 offices in 15 countries collaborating on domestic and cross-border restructuring matters. The seasoned US team is expert in all facets of restructuring and insolvency engagements including Chapter 11 reorganizations, Chapter 15 cross-border insolvencies, Chapter 9 municipal restructurings, out-of-court restructurings and related contentious work. Clients span every type of business, both public and private, and range from middle market to Fortune 500 companies.
Global M&A Network is a diversified information, digital media and professionals connecting company, serving the alternative investing, private equity, M&A, restructuring, transactional and business communities world-wide. Winners are selected independently based on select deal performance criteria, expertise, clients served, and leadership.