Serves on Kirkland’s Executive Committee. Represents debtors, creditors and distressed or special situation investors in bankruptcy cases, out-of-court restructurings and acquisitions. Company-side representations include Intelsat, Ascena Retail Group, Gulfport Energy Corporation, Hornbeck Offshore Services, Mood Media Corporation, PetSmart, Acosta, Barneys, Toys "R" Us, Westmoreland Coal, Energy Future Holdings, PES Holdings, Ameriforge Group, Sequa Corporation, Midstates Petroleum, Magnum Hunter Resources, Penn Virginia, MSR Resorts, Sbarro, Horizon Lines, Majestic Star, Calpine, NRG Energy, Muzak and Leiner. Represented ad hoc committees in restructurings of Bonanza Creek, Ocean Rig UDW, Capmark, Lyondell, AbitibiBowater and Mirant. Regularly represents private equity and hedge funds in acquisitions of distressed companies.
North America - United States • Finance
Kirkland & Ellis LLP
Kirkland & Ellis LLP’s restructuring group provides a wide range of business advisory and crisis management services to navigate clients through restructurings and insolvency matters. The team consists of over two hundred restructuring attorneys across the firm’s global team, including the London, Munich and Hong Kong offices, which frequently collaborate with the US team to handle cross-border restructuring projects. The New York-based Josh Sussberg and Nicole Greenblatt have experience in all variations of financial and operational restructurings and insolvency proceedings, with the firm acting on behalf of domestic and multinational corporations. New York lawyer Edward Sassower co-heads the practice with Sussberg and focuses on representing debtors, creditors and distressed investors in bankruptcy cases alongside out-of-court restructurings and acquisitions. Anup Sathy is based in Chicago and represents a range of parties in all aspects of distressed and insolvency situations, while New York lawyers Emily Geier and Christine Okike are skilled in a wide array of restructuring and bankruptcy proceedings, with Okike representing a range of clients across numerous industries including automotive, sports and cryptocurrency. Ross Kwasteniet is based in Chicago and is noted for his experience in representing both buyers and sellers of distressed assets, and Ciara Foster, in New York, is a name to watch due to her involvement in a number of high profile Chapter 11 cases.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘They have a group of seasoned people who really specialize in this area. It is a very niche area and everyone knows everyone. It is helpful to have a real player on your side when you have to go through a difficult time.’
‘They excel with the knowledge of the area and knowing all the right people involved. The Team we had were also very "street savvy". You could tell they would not back down or get run over.’
‘Kirkland & Ellis brings the entire team together - including restructuring, white collar and litigation. The restructuring partner is always tied into each workstream. This results in a seamless experience across different and complex issues for the client.’
‘The Kirkland & Ellis team is relentless, thoughtful, energetic and strategic - strong on legal strategy, court presence and execution.’
‘They own the space. Great depth of talent and experience.’
‘Chad Husnick is an exceptionally talented lawyer. Very clear on strategy and potential outcomes. Highly commercial.’
‘Kirkland & Ellis is the leading firm in debtor representations in restructuring transactions. The quality of their work is exceptionally consistent with their position as the market leader. I have worked with literally dozens of Kirkland lawyers over the years and all have demonstrated the ability to manage complex transactions effectively while delivering the highest quality advice for their clients.’
‘All of the attorneys I have worked with at Kirkland, especially at the partner level, are not only highly skilled attorneys, but also capable business advisors who find creative and often novel solutions to difficult restructuring issues. Unlike some other firms in the restructuring space, Kirkland is willing to pursue novel strategies to obtain the best outcome for their clients. Key partners I have worked with who stand out include Joshua Sussberg, Steven Serajeddini, Chad Husnick, John Luze and Emily Geier.’
Key clients
- Altera Infrastructure
- Avaya Inc.
- Bed Bath & Beyond Inc.
- BlockFi, Inc.
- Center for Autism and Related Disorders LLC
- Cineworld Group plc
- Cyxtera Technologies Inc.
- David’s Bridal, Inc.
- Envision Healthcare Corporation
- Genesis Care Pty Ltd
- Pipeline Health System, LLC
- QualTek Services Inc.
- Rite Aid
- SmileDirectClub LLC
- Venator Materials
- Voyager Digital Holdings LLC
- WeWork
- WheelsUp
- Whittaker Clark & Daniels Inc.
- Yellow Corporation
Work highlights
- Representing Rite Aid Corporation and 119 of its affiliates in the commencement of their prearranged Chapter 11 cases in the U.S. Bankruptcy Court for the District of New Jersey.
- Advised WeWork , and its 517 affiliates on their Chapter 11 filing in the U.S. Bankruptcy Court for District of New Jersey.
- Represented Cineworld Group plc and 104 of its debtor affiliates in its Chapter 11 filing before the U.S. Bankruptcy Court for the Southern District of Texas.
Lawyers
Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Joshua Sussberg is a partner in Kirkland & Ellis’ restructuring group. Part of the largest debtor-side practice in the country, Josh has a broad range of transactional and litigation experience across numerous industries. Recent debtor/borrower side clients include J. C. Penney Company, Macy’s, Tailored Brands, California Pizza Kitchen, McDermott International, Belk, Form Technologies, HighPoint Resources, Frontera Generation, FTS International, Denbury Resources, Mood Media Corporation, AllSaints, Pier 1, Acosta, Clover Technologies, Forever 21, Barneys, Z Gallerie, Toys“R”Us, EV Energy, Cenveo, Charming Charlie, BCBG, Samson Resources, Midstates, AMF Bowling, Edison Mission Energy, and Kerzner International.
Leading lawyers
Ross Kwasteniet’s practice is focused on the representation of distressed companies in all aspects of Chapter 11 reorganizations and out-of-court restructurings. Ross also has considerable experience representing both buyers and sellers of distressed assets. Representative clients include Armstrong Energy, Inc., Seadrill Limited, Samson Resources and Patriot Coal Corporation.
Anup Sathy is a nationally recognized practitioner in matters relating to corporate restructurings, workouts and Chapter 11 reorganizations. He has substantial experience representing and advising companies, buyers, boards, investors and lenders in all aspects of distressed and insolvency situations. Anup has worked on some of the most complex restructuring matters in the country, including Seadrill, iHeartMedia, General Growth Properties, Conseco, Chiquita Brands and Zenith Electronics. He has represented many distressed investors, including Centerbridge, Blackstone, Ares and Davidson Kempner.
Next Generation Partners
Ciara Foster is a restructuring partner in the New York office of Kirkland & Ellis LLP.
Practice head
The lawyer(s) leading their teams.
Edward Sassower, Joshua Sussberg