Bankruptcy Group Earns High Rankings in Debtwire’s 2020 Advisory Mandate Report
February 5, 2021
Kelley Drye today announced that the Firm’s Bankruptcy and Restructuring Practice Group has received high marks in Debtwire’s recent “2020 Full Year Advisory Mandates Report.” This report tracks and ranks advisors on the number of representations they have had throughout the year, and is considered an industry benchmark on debt markets worldwide.

Kelley Drye placed among the top 20 firms for “Lead Counsel Representation,” and was listed as the fourth highest firm in “Lead Counsel Representation for Unsecured Creditor Committees (UCC).”

“Our clients count on us to guide them through both out-of-court and court supervised restructurings, liquidations, and post-confirmation matters,” said Eric Wilson, Chair of Kelley Drye Bankruptcy Practice Group. “2020 was a difficult year for many of our clients, and the number of representations cited by the Debtwire report is indicative of their confidence in our team’s ability to minimize exposure, maximize recovery and deliver creative solutions.”

The Group’s cases in 2020 included representing the creditors’ committees in the Chuck E. Cheese and NPC International cases, both of which had over $1 billion in assets and liabilities. Reporting on NPC’s restructuring, Reorg Research stated that presiding Judge Jones for the Southern District of Texas “commended the work of counsel to the UCC, Eric Wilson of Kelly Drye, for a ‘case study’ committee representation.”[1]

The Group also represented the creditors’ committee in the American Blue Ribbon case where the committee achieved two objectives that seemed impossible in 2020 due to the very difficult economic climate for casual dining restaurants: (1) a reorganized company, and (2) a recovery of about 20 percent for unsecured creditors.

In 2020 the Group also led a very successful out-of-court liquidation of AC Moore that led to a recovery for unsecured creditors of 40 percent with 100 percent participation from the landlord community and represented multiple landlord clients in over 50 retail, fitness center and restaurant bankruptcy cases that filed throughout the United States including: 24 Hour Fitness, Ascena Group, Brooks Brothers, J.C. Penney, Neiman Marcus, Pier 1 Imports, Ruby Tuesday, Stage Stores and Tailored Brands.

For more information on the Bankruptcy and Restructuring Practice Group. Click here.

To read the full Debtwire 2020 Full Year Advisory Mandates Report click here. (access may require a subscription.)
 
 
[1]      Reorg Research: “NPC International - Judge Jones Confirms NPC International Chapter 11 Plan at Largely Uncontested Hearing”