NEW YORK, July 27, 2017 /PRNewswire/ -- The second quarter
of 2017 made history as the first time a U.S. territory filed
for bankruptcy, when Puerto Rico
started to restructure its $70
billion in debt, according to The Deal, a business unit
of TheStreet, Inc. (NASDAQ: TST).
"The formal start of the restructuring of Puerto Rico's $70
billion in debt dominated the second quarter in the
bankruptcy world," said Stephanie
Gleason, senior writer at The Deal. "Additionally, we're
seeing already that retail will continue to be a major driver of
bankruptcy filings through the rest of the year."
The Deal's exclusive ranking covers the
top U.S. firms involved in bankruptcy cases
filed between January 1 and June 30, 2017.
Some highlights from the report:
- Weil, Gotshal & Manges LLP claimed the top spot
for bankruptcy law firms by volume, with $111 billion in
liabilities. Paul, Weiss, Rifkind, Wharton & Garrison LLP
followed, with $101.3 billion in
liabilities. Milbank, Tweed, Hadley, & McCloy
LLP ranked third, with just over $99 billion in
liabilities. White & Case LLP ranked fourth
with $95.6 billion in liabilities and Reed Smith LLP
ranked fifth with $89.3 billion in liabilities.
- For investment banks by volume, Houlihan Lokey Inc.
remained in the top spot, with $94.9 billion in
liabilities. Lazard Ltd. followed in second, with $28.6
billion in liabilities. Jeffries LLC was third,
with $17.8 billion in liabilities. PJT Partners Inc.
ranked fourth, with $10.9 billion in
liabilities. UBS Investment Bank rounded up the top five
with $10 billion in liabilities.
- FTI Consulting Inc. claimed the top spot for crisis
management firms by volume with $113.7 billion. Zolfo
Cooper LLC followed with $81.4 billion. Goldin Associates
LLC came in third with $75.8 billion. AlixPartners LLP
came in fourth with $22.9 billion. BRG Capstone/Berkeley
Research Group LLC finished in fifth with $16.9 billion.
The full article is available online, or learn more
about The Deal's Bankruptcy League Tables by
visiting http://www.thedeal.com/league-tables/bankruptcy/.
About The Deal's Bankruptcy League Tables
The
Deal's Bankruptcy League Tables are comprised of advisory
assignments on business petitions with liabilities of at
least $25 million, filed
in U.S. courts, between January 1 and June 30,
2017.
About The Deal
The Deal (www.thedeal.com)
provides actionable, intraday coverage of mergers, acquisitions and
all other changes in corporate control to institutional investors,
private equity, hedge funds and the firms that serve them. The Deal
is a business unit of TheStreet, Inc. (NASDAQ:
TST, www.t.st), a leading financial news and information
provider. Other business units include TheStreet
(www.thestreet.com), an unbiased source of business news and
market analysis for investors; BoardEx (www.boardex.com), a
relationship mapping service of corporate directors and officers;
and RateWatch (www.rate-watch.com), which supplies rate and fee
data from banks and credit unions across the U.S.
Contact: Jon Kostakopoulos, (212)
321-5561, Jon.Kostakopoulos at thestreet.com
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SOURCE TheStreet, Inc.