Katten's Restructuring Department will be honored as an award recipient in three categories of The M&A Advisor's 17th Annual International M&A Awards, which set the standard for excellence among organizations with a multinational presence, celebrating the leading transactions, restructurings, financings, firms and professionals that define global dealmaking. For over two decades, The M&A Advisor has been the definitive voice in dealmaking — honoring achievement, sharing thought leadership and connecting the world’s most accomplished deal professionals.
Katten was recognized for its key roles in several significant restructurings, winning the following awards:
- Materials Deal of the Year (Over $1B)
- Financials Deal of the Year (Over $100MM)
- Debt Financing of the Year (Up to $1B)
Winning these independently governed awards equates to achieving the "Gold Standard of Performance" standing in the industry, validating the firm's and team's excellence. From cross-border megadeals to domestic transactions with significant international impact, these Awards recognize those who are driving the industry forward and setting the benchmark for the world to follow.
Katten's Restructuring practice was recognized for work related to the following three significant restructuring matters:
1. Materials Deal of the Year (Over $1B): Restructuring of Ascend Performance Materials
Ascend Performance Materials filed for Chapter 11 in 2025 in the United States Bankruptcy Court for the Southern District of Texas to address an overleveraged balance sheet amid industry and liquidity pressures. Under the Chapter 11 plan, the company deleveraged approximately $2.1 billion of debt and emerged as a reorganized company with a cleaner capital structure.
Katten served as counsel to Ascend's Disinterested Directors, advising them in their oversight of the restructuring process and related transactions. In that role, Katten helped ensure the board's decisions — particularly around negotiations with the lender group and private equity sponsor — were independent, informed and consistent with fiduciary duties. Notably, Katten conducted an independent investigation on behalf of the Disinterested Directors, which was essential to the formulation and ultimate approval of Ascend's Chapter 11 plan. The plan was confirmed by the Bankruptcy Court on December 9, 2025, and Ascend emerged from bankruptcy on December 19, 2025.
The Katten team was led by Steven J. Reisman (Restructuring global chair and partner), Marc B. Roitman (Restructuring partner), Robert Smith (Appeals and Critical Motions partner and chair) and Shaya Rochester (Restructuring partner), who were assisted by Cindi Giglio (Restructuring partner and co-chair), Todd Hatcher (Transactional Tax Planning partner), Ally Jordan (Appeals and Critical Motions associate) and Summer McKee (Restructuring counsel).
2. Financials Deal of the Year (Over $100MM): Restructuring of Linqto
Linqto operated an online platform allowing customers to indirectly invest in private companies, with a focus on the technology sector. After uncovering likely legal and regulatory violations relating to the fundamental structure of its business, Linqto shut down its trading platform in March 2025 and filed for Chapter 11 on July 7, 2025, with estimated assets in excess of $500 million.
Katten represented the Special Subcommittee in Linqto’s Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas, advising on all aspects of the cases, including its independent investigation and determinations regarding releases and exculpations under the Chapter 11 plan. The results of the investigation were incorporated into a Chapter 11 plan embodying a creative yet practical global settlement that established a liquidating trust and closed-end fund for the benefit of customers. The plan was confirmed on February 6 of this year, with Judge Perez describing the treatment of customer claims as “extremely beneficial” and the “closest thing” creditors could receive to the “benefit of their bargain,” noting that customers “overwhelmingly” voted in favor at an “unusually high” response rate.
The Katten team was led by Steven J. Reisman (Restructuring global chair and partner) and Cindi M. Giglio (Restructuring department co-chair and partner), who were assisted by Marc B. Roitman (Restructuring partner), Allison E. Yager (Restructuring partner), Dan Barnowski (White Collar Litigation partner), Patrick M. Smith (Litigation partner), Mike Didiuk (Financial Markets and Funds partner), Mitchel Pahl (Tax partner), Emily Kay Watson (Private Credit partner), Philip A. Nemecek (Litigation counsel), Grace A. Thompson (Restructuring associate), Ethan Trotz (Restructuring associate), Alexander L. Norman (Restructuring associate), Nico S. Colombo (Restructuring associate), Ally G. Jordan (Appeals and Critical Motions associate), Jonathan M. Deitch (Corporate associate) and Anna J. Hile (Corporate associate).
3. Debt Financing of the Year (Up to $1B): Out-of-Court Restructuring of Automotores Gildemeister SpA
Katten represented an ad hoc group of noteholders (the Ad Hoc Group) holding 7.50 percent Junior Secured Notes due 2027 and 10.00 percent Subordinated Notes due 2035 issued by Automotores Gildemeister SpA (AG). AG conducted a comprehensive out-of-court debt restructuring through exchange offers and consent solicitations launched on November 21, 2025. Upon completion, AG exchanged (i) $306.5 million in aggregate principal amount of Existing Junior Notes for New 2032 Notes and cash, and (ii) $108.4 million in aggregate principal amount of Existing Subordinated Notes for New 2035 Notes and cash.
On behalf of the Ad Hoc Group, Katten negotiated the terms of the exchange offers and consent solicitations, including the exchange consideration, the New Notes Indentures, the Intercreditor Agreement, the Security Documents and the proposed amendments to the Existing Notes Indentures. Katten also negotiated the Exchange Support Agreement pursuant to which the Supporting Noteholders (beneficially owning over 95 percent of each series of Existing Notes) agreed to tender their Existing Notes and deliver Consents. Through its representation of the Ad Hoc Group, Katten played a central role in moving the restructuring forward and ensuring that the transaction was consummated on terms acceptable to the Ad Hoc Group. The transaction significantly improved AG’s balance sheet by allowing the company to access credit lines in South America that otherwise would not have been available absent the transaction.
The Katten team was led by Steven J. Reisman (Restructuring global chair and partner), Peter P. Knight (Restructuring department co-chair and partner) and Timothy J. Kirby (Capital Markets partner), who were assisted by Shaya Rochester (Restructuring partner), Marc B. Roitman (Restructuring partner), Amanda J. Segal (Financial Markets and Funds partner), Kirby Chin (Private Credit partner) and Elizabeth C. McNichol (Capital Markets partner).
“Winners Announced for the 17th Annual International M&A Awards,” The M&A Advisor, May 15, 2026
