Negotiated a reorganisation plan for this mid-stream oil business under a Chapter 11 bankruptcy. It involved creating a set of procedures to deal with state statutory claims where there is little existing law. Lawyers were praised for the practical, commercial way in which they applied the law in court
Combining insurance, bankruptcy and structured finance expertise, the firm worked with the New York Insurance Department to issue the first-ever “1,310 order” to stop the company going into liquidation. With none of the tools of a Chapter 11 available, the firm restructured nearly $80bn in outstanding claims against the insurer
