Aug. 19, 2013
, TheStreet's (NASDAQ:TST) institutional business, today announced the results of their quarterly rankings of the top firms and professionals involved in active bankruptcy cases for the second quarter of 2013. Overall, there were 973 filings in Q2 versus 1,030 in Q1.
Read The Deal's full analysis
League Table highlights:
- The top two law firms by volume remained the same as Q1 with Skadden, Arps, Slate, Meagher & Flom LLP with cases totaling $1,055.1 billion in assets and White & Case LLP with $1,040.9 billion in assets. Rounding out the top five were Weil, Gotshal & Manges LLP with $1,031.4 in assets, Saul Ewing LLP with $1,028.3 billion in assets and Duane Morris LLP with $1,023.0 billion in assets.
- The top five investment banks by volume were Houlihan Lokey Inc. with $48.2 billion in assets, Moelis & Co. LLC with $40.7 billion in assets, Blackstone Group LP with $36.6 billion in assets, Jefferies LLC with $34.2 billion in assets and Perella Weinberg Partners LP with $33.0 billion in assets.
- FTI Consulting Inc. took over the top slot in crisis management firms by volume by adding $624.8 billion despite losing two cases, giving them $916.1 billion in assets.
- Amongst lawyers, Michael Schein ( Vedder Price PC), Thomas Lauria (White & Case LLP) and Douglas B. Rosner (Goulston & Storrs PC) maintained their top three positions from Q1, with Richard Hahn (Debevoise & Plimpton LLP), Douglas Lipke ( Vedder Price PC), Andrew D. Gottfried (Morgan, Lewis & Bockius LLP), Scott Davidson (King & Spalding LLP), Daniel H. Golden (Akin Gump Strauss Hauer & Feld LLP), Peter Gilhuly (Latham & Watkins LLP) and Neil E. Herman (Morgan, Lewis & Bockius LLP) rounding out the top 10.
- One particularly active area was the marine transportation sector, which has provided a bounty for restructuring advisers so far in 2013. Filings included STX Pan Ocean Co. Ltd. ( $6.7 billion), Excel Maritime Carriers Ltd. ( $2.7 billion), TMT USA Shipmanagement LLC ( $1.5 billion) and PT Berlian Laju Tanker Tbk ( $500 million). (Excel's figures are not part of this quarter's data, as it filed for Chapter 11 on July 1.)
"Obviously, shippers have had a tough time recently. Many of the advisers working with these troubled companies now will be undoubtedly showing up in our bankruptcy listings for later quarters," said
, Editor in Chief of The Deal.
The full suite of rankings is available now on
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, the transaction information service powered by The Deal's newsroom.
About The Deal's Bankruptcy League Tables
The Deal's Bankruptcy League Tables are the industry's only league tables focused solely on active U.S. bankruptcy cases. The rankings involve cases of debtors with assets of
or more with the rankings based on the aggregation of those asset values. Firms and professionals only get one credit for each active case, not each active assignment. There are eight categories: law firms and lawyers, investment banks and bankers, crisis management firms and professionals, and non-investment banks and professionals.
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SOURCE TheStreet, Inc.