NEW YORK, July 23, 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 second quarter of 2014. Starting with this quarter, data collected will capture only active restructuring work on ongoing U.S. and Canadian cases.
"While the total number of restructurings continued to trend down in the second quarter, we saw some interesting activity in the energy sector," reported Anders Melin, Senior Editorial Research Coordinator for The Deal. "The common denominator for several of the larger cases is coal. As the debate on global warming grows louder, coal-based electricity generation is increasingly falling out of favor, and experts tell us that we will likely see more restructurings in that sector over the next few years, which will make an imprint on the bankruptcy league tables."
League Table highlights:
- Top law firms were Saul Ewing LLP with $1,091.8 billion in liabilities; Vedder Price PC with $1,072.7 billion in liabilities; Akin Gump Strauss Hauer & Feld LLP with $1,053.7 billion in liabilities; Duane Morris LLP with $979.8 billion in liabilities and Morgan, Lewis & Bockius LLP with $970.1 billion in liabilities.
- Amongst lawyers, Michael Schein ( Vedder Price PC) held on to his top ranking from Q2 through Q1 2014, followed by Richard Hahn (Debevoise & Plimpton LLP) maintaining his ranking from Q1 2014, Douglas Rosner (Goulston & Storrs PC), Andrew Gottfried (Morgan, Lewis & Bockius LLP) and Scott Davidson (King & Spalding LLP).
- For investment banks, the top two banks held on to their positions from Q1 2014. Blackstone Group LP maintained its lead with $786.2 billion in liabilities and Miller Buckfire & Co. LLC came in second with $674.3 billion in liabilities. They were followed by Jefferies LLC with $106.4 billion in liabilities, Centerview Partners LLC with $65.0 billion in liabilities and Peter J. Solomon Co. with $54.4 billion in liabilities.
- The top three investment bankers held onto their rankings from Q1 with Timothy Coleman (Blackstone Group LP) in the lead, followed by Stuart Erickson ( Miller Buckfire & Co. LLC) and Leon Szlezinger (Jefferies LLC). Steven Zelin (Blackstone Group LP) ranked fourth and Richard Klein (Jefferies LLC) and Robert White (Jefferies LLC) tied for the fifth place spot in the rankings.