USA financial news

Elite Restructuring Crew Joins Dechert LLP

NEW YORK, Aug. 2, 2022 /PRNewswire/ — Dechert LLP introduced as we speak the lateral acquisition of a top-tier restructuring workforce, consisting of companions Doug Mannal and Stephen Zide. They would be the sixth and seventh companions to affix the worldwide monetary restructuring apply prior to now three years and are key hires within the strategic progress of the agency’s New York providing.

Mr. Mannal and Mr. Zide have practiced collectively for greater than 15 years and are each acknowledged by Chambers USA as main legal professionals in company restructuring and chapter.

Mr. Mannal usually represents official unsecured collectors’ committees and advert hoc creditor teams in Chapter 11 instances. His current unsecured creditor representations embody the official unsecured collectors’ committees in Gulfport Power Corp., Frontier Communications, California Sources, RAIT, Seadrill, CHC and Bristow Helicopters.

As well as, Mr. Mannal commonly advises and represents a various vary of collectors in distressed conditions, together with main secured and unsecured collectors, indenture trustees and monetary establishments in Chapter 11 chapter instances and out-of-court restructurings. Current representations embody important stakeholders in Alpha Media, McClatchy Newspapers, Neiman Marcus and 9 West. Mr. Mannal clerked for the Honorable Conrad B. Duberstein of the U.S. Chapter Court docket for the Japanese District of New York after receiving his J.D. from Brooklyn Legislation College and a B.A. from Lafayette Faculty.

Mr. Zide might be becoming a member of Dechert with over 15 years’ expertise representing a various vary of purchasers in most of the largest and most advanced chapter 11 bankruptcies and out-of-court restructurings. His purchasers embody official and advert hoc creditor committees, debtors, and strategic consumers – together with, most just lately, creditor teams within the bankruptcies of Valaris, Noble, Payless, Westmoreland, Peabody, Revel and Eastman Kodak and official committees within the bankruptcies of Gulfport Power Corp., RAIT Funding, Toy R Us, NII and Rescap. 

Mr. Zide focuses on advising purchasers with respect to advanced capital buildings and has intensive expertise representing purchasers in negotiating DIP financings, fairness dedication agreements and rights choices. He’s additionally a lecturer on restructuring and chapter matters and has authored quite a few articles at American Chapter Institute Journal and the Norton Journal of Chapter Legislation and Apply. He clerked for the Honorable Jerome Feller of the U.S. Chapter Court docket for the Japanese District of New York, after receiving his J.D. from Brooklyn Legislation College and a B.A. from Queens Faculty, New York.

Andrew Levander, chairman of Dechert, said, “We’re excited to welcome Doug and Stephen to the workforce as we proceed to increase our extremely ranked world restructuring apply and meet our purchasers’ rising wants.”  

Allan Sensible, co-chair of Dechert’s world monetary restructuring apply, added, “Doug and Stephen’s appreciable company restructuring expertise will improve our workforce’s capabilities and choices to purchasers within the U.S. and abroad.”

Mr. Zide commented, “That is an thrilling time to be becoming a member of Dechert’s main monetary restructuring group, and I sit up for working with the progressive and collaborative cross-practice, cross-border workforce to assist purchasers clear up their most advanced restructuring points.”

Mr. Mannal added, “We sit up for constructing on Dechert’s world platform, robust finance apply and stellar popularity as authorized advisor to top-tier asset managers.”

Dechert’s monetary restructuring apply is understood globally for dealing with high-profile cross-border restructuring and insolvency issues, progressive deal structuring and reaching courtroom victories throughout jurisdictions. Dechert is acknowledged by World Restructuring Evaluation, Chambers and The Authorized 500 as having one of many main restructuring teams on the earth.

About Dechert

Dechert is a number one world regulation agency with 22 places of work world wide. The agency advises on issues and transactions of the best complexity, bringing power, creativity, and environment friendly administration of authorized points to ship business and sensible recommendation for purchasers.

SOURCE Dechert LLP

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