Chapter 11 for General Growth Properties, owner-manager of regional shopping centers
Originality
6
Rationale
6
Impact
6
Total
18
Description
The restructuring challenged the conventional wisdom that commercial mortgage-backed securities debt was “bankruptcy remote” and could not be restructured. Kirkland’s lawyers found a way to put the commercial mortgage-backed securities debt into bankruptcy and unlock its value for the company’s creditors
Representing Charter Communications' pre-arranged Chapter 11
Originality
8
Rationale
7
Impact
8
Total
23
Description
Helped reinstate nearly $12bn in debt borrowed at pre-credit-crisis interest rates. The debtor, junior bondholder and their advisers worked together to use a section of the bankruptcy code never previously used on this scale against the opposition of the senior debt holders
