Ropes & Gray Hires Weil Bankruptcy Lawyer as Talent War Persists

Weil, Gotshal & Manges restructuring partner Ryan Preston Dahl has joined Ropes & Gray as a partner in the firm’s Chicago and New York offices.

Dahl has represented numerous household names in bankruptcy and other restructuring matters, including 24 Hour Fitness, J.Crew, A&P Supermarkets, Caesars, and CEC Entertainment, owner of the Chuck E. Cheese brand.

His move is the latest in the shuffle of top Big Law restructuring talent, as more large companies file for bankruptcy as a result of the coronavirus pandemic’s economic toll. In the first half of 2020 alone, Big Law firms brought in nearly double the cash for bankruptcy work than they had in all of 2019.

A mid-year Bloomberg Law analysis showed that Weil was among the most active bankruptcy firms so far in the year.

Managing partner David Djaha said Dahl will take a leadership role in Ropes & Gray’s expansion of its restructuring practice.

“Continuing to build our business restructuring practice is a priority for Ropes & Gray,” Djaha said in a statement.

Dahl said the expansion of Ropes & Gray’s restructuring practice is a “natural next step” for the firm, given its focus on private equity work.

“I think now more than ever, private equity clients and sponsors look at restructuring as a necessary component of the advice they’re getting from their firm,” he said.

Restructuring Work Slowing

Ryan also said he believes the large spike in restructuring work that began in March has already begun to slow down.

“2020 was obviously a fairly extraordinary year in terms of the level of restructuring activity,” he said. “I think everybody hopes that will be abated. Whether you’re a restructuring lawyer or not, finding a resolution to a global pandemic is more important than anything else.”

Dahl’s other bankruptcy clients have included Doncasters Group, syncreon, The NORDAM Group, Claire’s, Avaya, and General Growth Properties. On the creditor side, he has represented creditors of Jason Industries, Exela Technologies, EuropaCorp S.A., and Altegrity.

“We appreciate Ryan’s contributions to Weil and wish him well on his future endeavors,” a firm spokesperson said.