Law Firms Hire Bankruptcy Lawyers

Several major law firms this week strengthened their practice groups in the areas of bankruptcy and financially distressed companies.

Kirkland & Ellis announced on Tuesday that it will add four lawyers, from four different firms, to its London office. Litigation firm McKool Smith also hired a veteran bankruptcy lawyer, as did Atlanta-based Kilpatrick Townsend & Stockton.

The lateral hires came on the heels of the announcement earlier this week that Latham & Watkins brought aboard George Davis, former co-chair of the global restructuring practice at O’Melveny & Myers, in the same role.

Law firms appear to be bolstering their bankruptcy, restructuring and workaround teams to be in position if there is an economic downturn in the next year or two, and to help clients invested in sectors like oil and gas who might be seeking such reorganization expertise, according to bankruptcy lawyers.

The Kirkland & Ellis International LLP hires were Matthew Czyzyk, a lawyer with experience in financial restructurings across Europe, from the London office of Milbank, Tweed, Hadley & McCloy. He will become a partner in the firm’s restructuring practice group. Also hired for the restructurings team were associates Jack Mead, from Orrick, Herrington & Sutcliffe; Alexandra Caddy from Freshfields Bruckhaus Deringer; and Peter Madden, from Norton Rose Fulbright.

Czyzyk has experience advising a group of creditor funds in the restructuring of Ocean Rig, an international offshore drilling contractor, and the restructuring of Ambatovy, Africa’s largest nickel extraction facility. He also, among other European matters, served as a financial advisor to Hellenic Bank in connection with its recapitalization plan.

At McKool Smith, the trial firm hired H. Jeffrey Schwartz from Robins Kaplan as a principal—the equivalent of a partner, as McKool Smith is not an LLC. Schwartz has represented creditors’ committees in the bankruptcies of for-profit post-secondary education provider Corinthian Colleges Inc., as well as Digital Domain Media Group. He joins McKool Smith as it is trying to expand its New York office, which has a large insurance recovery practice.

In the push for restructuring talent, Kilpatrick Townsend & Stockton also said it would add Lenard Parkins as a partner on its bankruptcy and financial structuring team. Parkin, who will work in Houston and New York, has represented industries including energy, oil and gas, and real estate.

Kirkland’s and Latham’s hires appear to be aimed at cross-border restructurings.

“The addition of Matt alongside Jack, Alex, and Peter to our European restructuring practice, will allow us to further enhance our offering to clients with interests in distressed situations,” said Kon Asimacopoulos, a London-based restructuring partner, said of Kirkland’s hires.

Davis, at Latham, told Big Law Business that the firm is interested in offering a full suite of bankruptcy, restructuring and workout services to its current clients and in attracting more cross-border business.

He is the second restructuring heavyweight that Latham, a 2,600-lawyer firm, has added in recent months to join the 80-person restructuring team.

To contact the reporter on this story: Elizabeth Olson at egolson1@gmail.com.

To contact the editors on this story: Casey Sullivan at csullivan@bloomberglaw.com and Nicholas Datlowe at ndatlowe@bloomberglaw.com.