NEW YORK, Aug. 8, 2016 /PRNewswire/ -- The Deal, a
business unit of TheStreet Inc. (NASDAQ: TST), announced
the results of its exclusive rankings of the top investment banks,
law firms and restructuring advisers involved in out-of-court
restructurings. Data collected captures advisers to distressed
companies with financial restructurings active between April 1
and June 30, 2016.
"Restructuring in the energy space has slowed down a bit from
the breakneck pace that we saw in the first half of this year, as
oil prices have stabilized a bit," said Jamie Mason, senior editor at The Deal.
"However, restructuring professionals agree that the energy sector
will still dominate restructurings in the U.S. and that we may see
more activity with midstream energy companies in the next six to
eight months."
Some highlights from the report:
- Lazard Ltd. was the top financial adviser to distressed
companies in the second quarter, with 32 deals. Houlihan Lokey
Inc. was second, with 18 deals. Moelis & Co. and PJT Partners
Inc. tied for third, with 16 deals each. Rothschild & Co.
ranked fourth with 15 deals. Rounding up the top five was Evercore
Partners Inc., with 12 deals.
- Moelis & Co. LLC was the top financial adviser to
creditors, with 18 deals. PJT Partners Inc. was second, with
10. Houlihan Lokey ranked third,
with nine deals. Rothschild & Co. ranked fourth, with five
deals. Ducera Partners LLC ranked fifth, with four deals.
- Among law firms, Kirkland & Ellis LLP was the top
counsel to distressed companies, with 16 deals. Latham &
Watkins LLP and Weil, Gotshal & Manges LLP tied
for second, with eight deals each. Cleary Gottlieb Steen &
Hamilton LLP and Vinson & Elkins LLP tied for
third, with seven deals each.
- Latham & Watkins LLP ranked first for the top counsel
to creditors, with 16 deals. Davis Polk & Wardwell LLP and
Paul, Weiss, Rifkind, Wharton & Garrison LLP tied for
second, with nine deals each. Kirkland & Ellis
LLP ranked third, with seven deals. Akin Gump Strauss
Hauer & Feld LLP ranked fourth, with six deals.
- FTI Consulting Inc. was the top restructuring advisers to
distressed companies for the second quarter, with 12
deals. Alvarez & Marsal LLC was ranked second,
with eight. Deloitte and PricewaterhouseCoopers LLP tied
for third, with five deals each. AlixPartners LLP and KPMG
tied for fourth, with four deals each.
The full report is available online, or learn more about The
Deal's Out-of-Court Restructuring League Tables by visiting
http://www.thedeal.com/out-of-court/.
About The Deal's Out-of-Court Restructuring League
Tables
The Deal's Out-of-Court Restructuring league tables are based on
distressed companies that have announced financial restructurings
for the second quarter of 2016. Minimum requirements for inclusion
include: announcement date between April 1 and June 30, 2016;
at least one (1) piece of debt amount stated (bond, note, loan,
credit facility, etc.); credit facility security (secured or
unsecured); and name of the distressed company. Roles in the league
tables will be: legal advisory, financial advisory and other
advisory (including Public Relations or Restructuring Adviser).
About The Deal
The Deal is a media and technology company providing over
100,000 users with actionable ideas from its two services - The
Deal & BoardEx. Law firms, investment banks, private equity
firms and hedge funds use The Deal service to find their next deal
and BoardEx to connect the dots between their organizations and
clients. The Deal is a business unit of TheStreet, Inc. (NASDAQ:
TST) and has offices in New York,
London, Washington, Petaluma, Calif., and Chennai, India. For more information, visit
www.thedeal.com.
Contact: Ashley Klepach,
212.321.5048, ashley.klepach at thestreet.com
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