NEW YORK, May 1, 2014 /PRNewswire/ -- The Deal, TheStreet's (NASDAQ: TST) institutional business, announced the results of their quarterly rankings of the top firms and professionals involved in active bankruptcy cases for the first quarter of 2014.
"Pre-planned bankruptcies have gradually become the rule rather than the exception. In recent years we have seen them occur in more jurisdictions and applied on increasingly complex cases, including some of the notable filings in the first quarter," reported Anders Melin, Senior Editorial Research Coordinate at The Deal. "Experts attribute this to the fact that creditors involved in cases have become more sophisticated about the strategy and have a better understanding of the likely fallout of lengthy proceedings."
League Table highlights:
- Top law firms were White & Case LLP with $1,044.2 billion in liabilities, Saul Ewing LLP with $1,042.0 billion in liabilities, Morgan, Lewis & Bockius LLP with $1041.4 billion in liabilities, Vedder Price PC with $1037.3 billion in liabilities and Skadden, Arps, Slate, Meagher & Flom LLP with $1,008.7 billion in liabilities.
- Amongst lawyers, Michael Schein ( Vedder Price PC) held on to his top ranking from Q2 through Q4 2013, followed by Richard Hahn (Debevoise & Plimpton LLP), Douglas Rosner (Goulston & Storrs PC), Andrew Gottfried (Morgan, Lewis & Bockius LLP), and Scott Davidson (King & Spalding LLP).
- For the investment banks, Blackstone Group LP held its lead from Q3 and Q4 2013 with $705.0 billion in liabilities and 27 active cases, followed by Miller Buckfire & Co. LLC with $626.0 billion in liabilities, Houlihan Lokey Inc. with $59.5 billion in liabilities, Jefferies LLC with $45.2 billion in liabilities, and Moelis & Co. LLC with $37.8 billion in liabilities.
- Top investment banker was Timothy Coleman (Blackstone Group LP) maintaining his position from Q4, followed by Stuart Erickson ( Miller Buckfire & Co. LLC), Leon Szlezinger (Jefferies LLC), Edward Casas (Solic Capital Advisors LLC) and Neil Luria (Solic Capital Advisors LLC).