A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
One-of-a-Kind/Bespoke
Paul, Weiss is the firm of choice for every type of client – companies needing to restructure, creditor groups, individual creditors, equity sponsors, purchasers of the assets, debt and securities of distressed companies, etc. – seeking innovative, strategic and practical guidance to navigate unique restructuring, refinancing and recapitalization matters.
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Pacific Gas & Electric’s Chapter 11 Case
California Public Utilities Commission (CPUC) in the chapter 11 cases of PG&E Corporation and its primary operating subsidiary, Pacific Gas and Electric Company, California’s largest investor-owned public utility and the largest public utility in U.S. history to file for bankruptcy, with a reported $71.4 billion in assets and $51.7 billion in liabilities. Paul, Weiss also represented CPUC in PG&E’s previous bankruptcy proceedings, including related litigation and appeals, from which PG&E emerged in 2003.
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General Motors in Bankruptcy Court Litigation Related to Proposed Settlement of Ignition Switch Claims
General Motors LLC, the purchaser of substantially all of the assets of General Motors Corp (now known as Motors Liquidation Company) (“Old GM”), in litigation in the bankruptcy court related to a proposed settlement between a trust representing Old GM and plaintiffs asserting personal injury and economic loss claims arising from ignition switch and other alleged defects in vehicles manufactured by Old GM that were recalled in 2014.
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Sears’ Chapter 11 Cases
The Restructuring Sub-Committee of the Board of Directors of Sears Holdings Corporation, a leading retailer in the appliance, tool, lawn and garden, fitness equipment, automotive repair and maintenance retail sectors, in the company’s chapter 11 cases, including the investigation of potential claims and causes of action in connection with related party transactions and the court-approved $5.2 billion sale of assets.
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Puerto Rico’s Constitutional Debt Restructuring
An ad hoc group of Puerto Rico general obligation bondholders in restructuring the $18 billion of Constitutional debt issued or guaranteed by the Commonwealth of Puerto Rico, including in the Title III cases commenced under the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) to restructure the debts of the Commonwealth and certain of its instrumentalities and public corporations.
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CGG’s Prenegotiated Cross-border Restructuring
Certain subsidiaries of CGG S.A., a Paris-based global geophysical and geoscience services company serving customers principally in the oil and gas exploration and production industry, in their prenegotiated chapter 11 cases by which the company and its subsidiaries equitized approximately $2 billion of unsecured debt through concurrent restructuring proceedings in France and the United States. Brian S. Hermann was named an American Lawyer 2018 “Dealmaker of the Year” for his work representing CGG S.A. in its chapter 11 cases.
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Charter Communications’ Chapter 11 Case
The unofficial committee of bondholders of Charter Communications, one of the largest cable service providers, in Charter’s unprecedented “reinstatement” plan under chapter 11, permitting the fourth largest cable television operator to emerge from chapter 11 with $8 billion less debt on its balance sheet and $2.5 billion of capital newly invested by our clients. Paul, Weiss was recognized by The Financial Times for our “Stand Out” work on this matter. The Deal Magazine recognized the matter as a “Deal of the Year.”
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GMAC’s Debt-Exchange Offer
The ad hoc committee of bondholders of GMAC, one of the world’s largest financial services companies, in a $28.5 billion debt-exchange offer, one of the largest exchange offers ever consummated.
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CIT Group’s Chapter 11 Case
Bondholders of CIT Group, a leading financing and bank holding company, in the first successful bankruptcy of a bank holding company and the largest prepackaged bankruptcy ever completed, including negotiating $7.5 billion of emergency financing and a prepackaged reorganization plan to restructure approximately $33 billion of debt. Paul, Weiss was recognized by The Financial Times for our “Highly Commended” work on this matter. The Deal Magazine recognized the matter as a “Deal of the Year.”
