Katten is proud to announce that the Insolvency and Restructuring practice won five "Best Value-Creating Transaction" awards at the Global M&A Network Turnaround Atlas Awards. Known as the "gold standard of performance," the 13th annual Turnaround Atlas Awards celebrates restructuring industry excellence. The recognitions are:
- Turnaround: Le Pain Quotidien (LPQ) US restructuring and sale to Aurify Brands. Katten represented Aurify, who was the DIP lender in LPQ's Chapter 11 and the stalking horse bidder and eventual purchaser of substantially all of LPQ's US assets. The team was led by Insolvency and Restructuring partners Steven J. Reisman, Jerry L. Hall and Cindi M. Giglio, Corporate partner Wade Glover and Private Credit partner Brian Stern.
- Cross-Border Turnaround: Cirque du Soleil takeover by Catalyst Capital Group. Katten represented Ernst & Young Inc. (E&Y) in its capacity as the court-appointed Monitor for Cirque du Soleil Canada Inc. in the Chapter 15 cases of In re CDS U.S. Holdings, Inc., et al., Case No. 20-11719 (CSS) in the US Bankruptcy Court for the District of Delaware. The team was led by Insolvency and Restructuring partners Steven J. Reisman, Jerry L. Hall, and Shaya Rochester, Transactional Tax Planning partner Todd Hatcher, and Corporate partner Michelle Gyves.
- Corporate Turnaround: Windstream chapter 11 restructuring. Katten represented Windstream Holdings, Inc. and its debtor affiliates, as conflicts counsel, in the Chapter 11 cases of In re Windstream Holdings, Inc. et al., Case No. 19-22312 (RDD) in the US Bankruptcy Court for the Southern District of New York. The team was led by Insolvency and Restructuring partners Steven J. Reisman and Shaya Rochester, and Intellectual Property partners Terence P. Ross and Michel R. Justus.
- Special Situation M&A Deals: J.C. Penney asset buy by Brookfield & Simon Property. Katten represented J.C. Penney, at the direction of its Independent Directors in the Chapter 11 cases of In re J.C. Penney Company, Inc. et al., Case No. 20-20182 (DRJ) in the US Bankruptcy Court for the Southern District of Texas. The team was led by Insolvency and Restructuring partners Steven J. Reisman, Jerry L. Hall, and Paul Musser, and Real Estate partner Michael McBride.
- Restructuring Transactions by Industry – Restaurants: CraftWorks takeover by Fortress Credit. Katten represented the Chapter 11 debtors as lead counsel in In re Craftworks Parent, LLC et al., Case No. 20-10475 (BLS) in the US Bankruptcy Court for the District of Delaware. The team was led by Insolvency and Restructuring partners Steven J. Reisman, Peter A. Siddiqui, and Stephanie Hor-Chen.
Steven Reisman, Insolvency and Restructuring co-chair, stated, "I am humbled and honored to be recognized by Global M&A Network. But truth be told, I am nothing without the talented team of partners, associates and staff at Katten that help our clients succeed in their objectives every day. Congratulations to all of the firms and professionals recognized — those nominated and those who won. The insolvency and restructuring community is made up of hard working professionals that I am privileged to be a part of." ("Turnaround Atlas Awards," June 23–25, 2021)
