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Latham & Watkins

Restructuring 2010

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RankingHighly commended
InnovationCreating a precedent for credit bidding by private equity firms in distressed transactions
DescriptionRepresented Centrebridge Partners in acquiring the “fulcrum” debt of Greatwide Logistics in the secondary market, and in a subsequent debt-for-control transaction. The lawyers found a way of dragging along dissenting minority lenders to a credit bid in a “section 363” asset sale, which has since been followed in other expedited asset sales