Best Distressed Debt Restructuring Firms in USA
Non-sponsored, Expert Verified and Transparently Ranked Distressed Debt Restructuring Firms in USA
Published: December 22, 2025 | Verified by: Ted Scheiman & Rob Watts
Executive Summary
We analyzed 5 solutions. Top Recommendation: Legal Services by White & Case LLP scored highest due to Ranked in the top 5 globally for cross-border restructurings by IFLR Europe Awards 2025 and recognized for complex US restructurings by Chambers USA..
Content Verification
15
Total Sources
December 22, 2025
Last Verified
100%
Evidence Coverage
Side-by-Side Comparison
| Feature | #1 Legal Services (White & Case LLP) | #2 Restructuring & Special Situations (PJT Partners) | #3 Legal Services (Skadden, Arps, Slate, Meagher & Flom LLP) | #4 Legal Services (Greenberg Traurig) | #5 Legal Services (Pillsbury Winthrop Shaw Pittman) |
|---|---|---|---|---|---|
| Best For | Ranked in the top 5 globally for cross-border restructurings by IFLR Europe Awards 2025 and recognized for complex US restructurings by Chambers USA. | Consistently tops global restructuring league tables and named IFR's Restructuring Advisor of the Year, with a proven track record in landmark multi-billion dollar deals. | Market-leading counsel in acquisition finance, leveraged recapitalizations, and sophisticated intercreditor arrangements, ranked top by Chambers USA 2025. | Internationally recognized with deep advisory and litigation experience across US and global offices for complex insolvency situations. | Recognized by Global Restructuring Review in its 2025 GRR 100 Guide for top partners and deals. |
| Cross-Border Expertise | Global, integrated restructuring platform with on-the-ground lawyers in key jurisdictions. Regularly manages simultaneous, multijurisdictional insolvency and Chapter 11/15 proceedings for multinational clients. In Latin America, it has played key roles in most major cross-border restructurings, with dedicated resources in Mexico and Brazil. (whitecase.com) (whitecase.com) | Seamless global restructuring team with offices across the Americas, EMEA and Asia Pacific; collaborates across borders to advise corporates, sponsors and creditors on liability management, in-/out-of-court restructurings, distressed M&A and financings. (pjtpartners.com) Track record spans Europe, Latin America and sovereigns (e.g., Ukraine Eurobonds; Azul). (pjtpartners.com) | Global, multi-jurisdictional finance and restructuring capability: 21 offices across four continents with local law capabilities (English, EU, French, German, Hong Kong, Japanese). Handles multijurisdictional financings and cross-border restructurings, coordinating cross-border elements and navigating insolvency regimes worldwide; recognized in GRR 30 for cross-border restructuring advice. (skadden.com) | Internationally recognized restructuring practice handling in- and out-of-court reorganizations, distressed M&A, and cross-border proceedings; ranked in GRR 30 as a leading firm for cross-border restructuring and insolvency matters. (gtlaw.com) | Global firm with offices in London, Beijing, Shanghai, Tokyo, Hong Kong, Doha, Riyadh, and the U.S., supporting cross-border transactions and disputes. (pillsburylaw.com) London handles matters across Europe, the Americas, Asia, Middle East, and Africa. (pillsburylaw.com) Nearly one-third of work is cross-border. (pillsburylaw.com) Recognized for cross-border restructuring (e.g., SAS AB proceedings). (pillsburylaw.com) |
| Track Record in Complex Cases | Proven results in complex restructurings: Hertz (paid >US$19B of claims; shareholder recovery), Boy Scouts (US$2.46B survivor trust), Celsius UCC (600k+ account holders), Maxus (US$575M veil‑piercing settlement). (whitecase.com) Recent wins include Zachry (2025 plan confirmation), Seadrill (US$5.6B facilities) and Adler Group (contested €3.2B bond restructuring). (whitecase.com) | Advised on LATAM Airlines’ $16bn cross‑border Chapter 11 and Puerto Rico HTA’s restructuring using novel rum‑tax CVIs. (ifre.com) Led creditor‑side Carvana $6bn debt exchange and served as debtor advisor to Intelsat’s confirmed plan; IFR Restructuring Adviser of the Year four straight years (2020, 2023). (ifre.com) | Skadden pioneered prepackaged Chapter 11s and led record‑setting restructurings: CIT Group’s largest‑ever prepack solicitation; MGM’s sub‑30‑day $4B prepack; SunEdison (largest 2016 Ch. 11); Kmart (largest U.S. retail Ch. 11); LyondellBasell’s then‑largest $8.5B DIP; cross‑border Takata/Westinghouse matters; first U.S., Australia out‑of‑court restructuring (Centro). Recognized in GRR 30 and award‑winning deals. (skadden.com) | Award-winning restructuring track record: counsel in Washington Prime Group’s large Chapter 11 (Turnaround Atlas award). (gtlaw.com) Represented Sandy Creek noteholders in Brazos Electric’s bankruptcy, securing $150M in plan distributions after complex, multi‑party negotiations (M&A Advisor Utilities Deal of the Year). (gtlaw.com) Recognized Top Law Firm, Lender/Agent Counsel for 2024 by BankruptcyData. (gtlaw.com) | Strong record in complex restructurings: led 51-state AG coalition in Endo International’s Chapter 11, securing a $465.2m opioid settlement (Turnaround Atlas “Chapter 11 Transaction of the Year”). (pillsburylaw.com) Represented major creditors in Avianca’s Chapter 11 (Latin Lawyer Deal of the Year). (pillsburylaw.com) Notable airline cases (American $3B; Delta $2B). (pillsburylaw.com) GRR 100 2025-ranked. (pillsburylaw.com) |
| Integration of Legal and Financial Advisory | Integrates legal and financial advisory through cross‑practice teams (restructuring, bank finance, tax, regulatory) aligning legal strategy with capital‑structure solutions, and coordinating with financial advisers and investment banks on restructurings (e.g., Pine Gate Renewables). (whitecase.com) | PJT integrates financial advisory with legal processes by advising on all aspects of in-court Chapter 11, designing out-of-court liability management and specialty financings, and developing structures to resolve tort liabilities, coordinating stakeholders (companies, creditors, boards) across distressed M&A and asset sales. (pjtpartners.com) | Skadden integrates legal and financial advisory by coordinating finance, capital markets and corporate restructuring teams to advise on credit/bond financings, liability management, in- and out-of-court restructurings, DIP financings, distressed M&A, and capital-structure analysis to protect downside risk and maximize value. (skadden.com) | Greenberg Traurig integrates legal and financial advisory via multidisciplinary teams spanning finance, capital markets, and regulatory, advising lenders, borrowers, and debtors/creditors on financings, restructurings/workouts, and distressed M&A. (gtlaw.com) Examples: multidisciplinary counsel on Procaps’ $130M equity raise and $209M debt restructuring; RE-STRUC combines real estate, restructuring, financing, regulatory, and tax expertise. (gtlaw.com) | Pillsbury integrates legal and financial advisory through cross-practice restructuring and finance teams that structure DIP/exit financings, leveraged financings and distressed M&A for banks, investment banks, funds and borrowers; it also mobilizes consultants for corporate/financial crises and includes lawyers with prior banking experience for commercially grounded advice. (pillsburylaw.com) |
5 Companies Listed
Last Updated: December 22, 2025
White & Case LLPCompany Information
Industry: Energy
Description
A leading international law firm focused on providing high-quality legal services across a broad range of sectors and practice areas.
What They Do
Provide legal services in various practice areas including corporate, intellectual property, litigation, and regulatory matters.
Who They Serve
Corporations, governments, and individuals seeking legal assistance.
Key Value Propositions
Expertise in multiple legal fields
Global reach with offices worldwide
Strong commitment to client service
Target Customers
Corporations
Financial institutions
Government entities
Non-profit organizations
Individuals
Industries Served
Energy
Corporate
Financial Services
Healthcare
Technology
Real Estate
Media & Entertainment
Contact Information
Summary
White & Case provides comprehensive guidance on financial restructurings, workouts, and insolvency matters, including Chapter 11 proceedings for multinational corporations across various sectors. The practice handles both transactional and litigation aspects with resources in key global jurisdictions.
Key Benefits
- Global reach and experience
- Expertise in complex legal challenges
- Industry-specific legal solutions
- Comprehensive practice coverage
Who Is It For
- Companies
- Governments
- Financial institutions
Services
White & Case is an international law firm that serves companies, governments and financial institutions. Our long history as a global firm means we are uniquely placed to help our clients resolve their most complex legal challenges wherever they are.
Industries
White & Case serves a wide range of industries.
- Consumer & Retail
- Energy
- Financial Institutions
- Infrastructure
- Life Sciences and Healthcare
- Mining & Metals
- Private Capital
- Real Estate
- Sovereigns
- Technology
Practices
White & Case offers legal services across numerous practice areas.
- Antitrust/Competition
- Asset Finance
- Capital Markets
- Construction
- Data, Privacy & Cybersecurity
- Debt Finance
- Derivatives
- Employment, Compensation & Benefits
- Financial Restructuring and Insolvency
- Financial Services Regulatory
- Foreign Direct Investment (FDI) Reviews
- International Arbitration
- Intellectual Property
- International Trade
- Islamic Finance
- Investment Funds
- Litigation
- Mergers & Acquisitions
- Private Wealth & Family Offices
- Pro Bono
- Project Development and Finance
- Sports
- Sustainability & Responsible Business
- Tax
- Technology Transactions
- US Government Contracts
- US Public Company Advisory
- White Collar/Investigations
Regions
White & Case provides legal services across multiple global regions and countries.
- Africa (Egypt, South Africa)
- Asia-Pacific (Australia, Hong Kong SAR, India, Indonesia, Japan, Korea, Mainland China, Philippines, Singapore, Taiwan, Vietnam)
- Central & Eastern Europe (Czech Republic, Kazakhstan, Poland, Türkiye)
- Latin America (Brazil, Mexico)
- Middle East (Egypt, Israel, Oman, Qatar, Saudi Arabia, UAE)
- Nordic (Finland, Sweden)
- North America (Canada, United States)
- Western Europe (Belgium, France, Germany, Italy, Luxembourg, Spain, Switzerland, United Kingdom)
Resources
Supporting Resources
https://whcs.law/37ACml3https://whcs.law/2Qymjgohttps://www.whitecase.com/tags/us-administration-trackerhttps://www.whitecase.com/law/practices/national-security/cfius-firrma-toolhttps://www.whitecase.com/resources/eu-supply-chain-navigatorhttps://www.whitecase.com/publications/insight/antitrust-merger-statpak-globalhttps://www.whitecase.com/insight-our-thinking/dawn-raid-analysis-quarterlyhttps://www.whitecase.com/insight-tool/white-case-global-non-compete-resource-center-ncrc
Detailed Comparison
Cross-Border Expertise
Global, integrated restructuring platform with on-the-ground lawyers in key jurisdictions. Regularly manages simultaneous, multijurisdictional insolvency and Chapter 11/15 proceedings for multinational clients. In Latin America, it has played key roles in most major cross-border restructurings, with dedicated resources in Mexico and Brazil. (whitecase.com) (whitecase.com)
Track Record in Complex Cases
Proven results in complex restructurings: Hertz (paid >US$19B of claims; shareholder recovery), Boy Scouts (US$2.46B survivor trust), Celsius UCC (600k+ account holders), Maxus (US$575M veil‑piercing settlement). (whitecase.com) Recent wins include Zachry (2025 plan confirmation), Seadrill (US$5.6B facilities) and Adler Group (contested €3.2B bond restructuring). (whitecase.com)
Integration of Legal and Financial Advisory
Integrates legal and financial advisory through cross‑practice teams (restructuring, bank finance, tax, regulatory) aligning legal strategy with capital‑structure solutions, and coordinating with financial advisers and investment banks on restructurings (e.g., Pine Gate Renewables). (whitecase.com)
2
PJT Partners
Restructuring & Special Situations
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Last Updated: December 22, 2025
PJT PartnersCompany Information
Industry: Finance
API: No
Description
PJT Partners is a trusted advisor to global companies focused on driving growth, value creation and durability for the future, providing independent advice and high-touch client service.
What They Do
PJT Partners provides strategic advisory, restructuring and special situations, and fund advisory services to clients globally.
Who They Serve
Global companies across various industries, focusing on those involved in transformative transactions and capital raises.
Key Value Propositions
Leading advisory services
Highly experienced teams
High-touch client service
Proven track record in restructuring
Global reach in capital support
Target Customers
Startups
Established companies
Alternative asset managers
Consequential corporations
Industries Served
Finance
Real Estate
Retail
Telecommunications
Technology
Healthcare
Energy
Manufacturing
Contact Information
Summary
PJT Partners advises companies, financial sponsors, and creditors on distressed turnarounds, recapitalizations, Chapter 11 bankruptcies, distressed M&A, and tort liability resolutions globally.
Key Features
- Out-of-Court Advisory: Creative liability management solutions for balance sheet recapitalizations, enhanced liquidity, and shareholder value.
- Bespoke Financing: Negotiation and execution of complex specialty financings, including new debt and equity capital raises.
- In-Court Advisory: Guidance on all aspects of traditional in-court Chapter 11 bankruptcy transactions.
- Tort Liability Resolutions: Development of frameworks and structures to address and resolve contingent liability overhangs.
- Distressed M&A and Asset Sales: Assistance with buying or selling assets in distressed contexts, both in- and out-of-court.
Key Benefits
- Access to a seamless global team with deep experience in distressed situations
- Creative, bespoke solutions tailored to client needs
- Comprehensive support across the capital structure
- Proven track record with landmark transactions
- Ability to advise both in-court and out-of-court situations
- Expertise in liability management, capital raising, and distressed M&A
Who Is It For
- Companies facing financial distress or complex strategic challenges
- Financial sponsors
- Creditors
- Boards of directors
- Shareholders
- Lenders
- Bondholders
- Coordinating committees
Use Cases
- Turnarounds and recapitalizations
- Capital raising in distressed situations
- Liability management exercises
- Chapter 11 and other bankruptcy proceedings
- Distressed mergers and acquisitions
- Resolution of contingent liabilities
Restructuring & Special Situations
We are the world’s leading advisor to companies, financial sponsors and creditors in distressed situations including turnaround, recapitalizations and capital raising transactions. We operate a seamless global team advising across a diverse range of industries. Our team brings deep experience in developing creative solutions and utilizes the breadth of the firms’ global advisory and capital markets capabilities to serve our clients.
Expertise
- Out-of-Court Advisory: Design creative liability management solutions for companies, financial sponsors and creditors to support comprehensive balance sheet recapitalizations by creating enhanced liquidity and shareholder value.
- Bespoke Financing: Assist companies in negotiating and executing complex specialty financings across the capital structure, managing all aspects of a refinancing process including raising new debt and equity capital.
- In-Court Advisory: Advise companies, financial sponsors, creditor groups and boards of directors on all aspects of traditional in-court Chapter 11 bankruptcy transactions.
- Tort Liability Resolutions: Provide unmatched expertise in advising companies to develop frameworks to address contingent liability overhangs and to implement structures that comprehensively resolve these liabilities.
- Distressed M&A and Asset Sales: Assist companies and other stakeholders on buying or selling assets in a distressed context, both in- and out-of-court.
Results
A proven track record of impact, reflected in the landmark transactions and outcomes we've helped deliver.
- $600 million capital raise & $2 billion balance exchange transaction (2025)
- $6.0 billion liability management (2025)
- €5.3 billion advisor to the bondholders (2025)
- €3.9 billion Advisor to the company (Baywa, 2025)
- €1.4 billion Advisor to the shareholder (Accell Group, 2025)
- $6.7 billion Chapter 11 restructuring (Wolfspeed, 2025)
- £1.8 billion Advisor to a take private credit provider (TalkTalk, 2025)
- $20.0 billion Advisor to the Eurobonds (Govt of Ukraine, 2025)
- $3.0 billion Advisor to the company (Lowell, 2025)
- $2.9 billion Advisor to the company (Selecta, 2025)
- CHF1.1 billion Advisor to the Company (Idorsia, 2025)
- $4 billion Advisor to the creditors (Azul, 2025)
- $3.1 billion Chapter 11 restructuring (Incora, 2025)
- $3.1 billion Advisor to the company (IQHQ, 2025)
- $4 billion Advisor to the company (Quest, 2025)
- $3 billion liability management exercise (Tropicana, 2025)
- $2.1 billion Advisor to the company (Hurtigruten, 2025)
- $2.9 billion Advisor to the creditors (Ivanti, 2025)
- $4.6 billion Advisor to the creditors (Claritev, 2025)
- $4.8 billion out of court debt exchange (iHeart Black, 2025)
- $3.8 billion Chapter 11 restructuring (WeWork, 2024)
- €6.9 billion Advisor to the company (Adler, 2024)
- €1.3 billion Advisor to the bondholders (Codere, 2024)
- £5.0 billion Advisor to a private credit provider (Stonegate, 2024)
- $6.7 billion Advisor to the Creditors (Yuzhou Group, 2024)
- $7.6 billion liability management exercise and refinancing (Brightspeed, 2024)
- $15.3 billion advisor to the creditors (Kaisa, 2024)
- €2.9 billion Advisor to the company (Branicks, 2024)
- $8.1 billion Chapter 11 restructuring (Endo, 2024)
- €860 million Advisor to the bondholders (Wittur, 2024)
- €7.6 billion Advisor to the SteerCo of Secured TLB (Casino, 2024)
- €9.7 billion Advisor to SteerCo of unsecured creditors (Orpea, 2024)
- £925 million Advisor to the company (MetroBank, 2023)
- €1.4 billion Advisor to the company (Flint Group, 2023)
- €3.0 billion Advisor to the creditors (Celsa, 2023)
- €850 million Advisor to the company (Takko, 2023)
- $1.1 billion Advisor to the company (Lycra, 2023)
- NOK15.4 billion Advisor to the lenders (DOF, 2023)
- $3.7 billion Advisor to the coordinating committee (Altera, 2023)
- $5.3 billion Chapter 11 restructuring (Cineworld, 2023)
- $1.1 billion Advisor to the bondholders (Nostrum Oil & Gas, 2023)
- €1.0 billion Advisor to the bondholders (Naviera Armas, 2023)
- £1.1 billion Advisor to the company (ASOS, 2023)
- $3.0 billion Advisor to the company (Anywhere, 2023)
- $10.2 billion Advisor to the creditors (Sunac, 2023)
- $2.1 billion Advisor to the company (ED&F, 2022)
- $1.5 billion Advisor to the senior secured lenders (Prosafe, 2022)
- $15.7 billion Chapter 11 restructuring (Intelsat, 2022)
- $14.4 billion Chapter 11 restructuring (Latam Airlines, 2021)
- $2.9 billion Advisor to the company (Premier Oil, 2021)
- $4.5 billion Advisor to the company (Tullow, 2021)
- 2.3 billion Advisor to the company (McGraw Hill, 2021)
- $4.5 billion Advisor to the company (Genting, 2021)
- €2.9 billion Advisor to the First Lien Lenders (Swissport, 2020)
- $8.6 billion Advisor to the company (Garuda Indonesia, 2020)
- $6.5 billion Advisor to the company (Norwegian, 2020)
- €2.4 billion Advisor to the banks (Leoni, 2020)
- $3.4 billion Advisor to the company (Nobel, 2020)
- £4.3 billion Advisor to the company (Intu Trafford, 2020)
- $5.8 billion Advisor to the shareholders (NAC, 2020)
- €3.0 billion Advisor to the creditors (Solstad Offshore, 2020)
- $7.3 billion Advisor to the bondholders (Digicel, 2020)
- €10.7 billion Advisor to an ad hoc committee of creditors (Steinhoff, 2019)
- $18.4 billion restructuring of its subsidiary CEOC (Caesars Entertainment, 2017)
We advise clients on their most complex strategic challenges
We bring the full force of our collective insight to every engagement – working across disciplines and geographies to solve the toughest problems.
Resources
Detailed Comparison
Cross-Border Expertise
Seamless global restructuring team with offices across the Americas, EMEA and Asia Pacific; collaborates across borders to advise corporates, sponsors and creditors on liability management, in-/out-of-court restructurings, distressed M&A and financings. (pjtpartners.com) Track record spans Europe, Latin America and sovereigns (e.g., Ukraine Eurobonds; Azul). (pjtpartners.com)
Track Record in Complex Cases
Advised on LATAM Airlines’ $16bn cross‑border Chapter 11 and Puerto Rico HTA’s restructuring using novel rum‑tax CVIs. (ifre.com) Led creditor‑side Carvana $6bn debt exchange and served as debtor advisor to Intelsat’s confirmed plan; IFR Restructuring Adviser of the Year four straight years (2020, 2023). (ifre.com)
Integration of Legal and Financial Advisory
PJT integrates financial advisory with legal processes by advising on all aspects of in-court Chapter 11, designing out-of-court liability management and specialty financings, and developing structures to resolve tort liabilities, coordinating stakeholders (companies, creditors, boards) across distressed M&A and asset sales. (pjtpartners.com)
3
Skadden, Arps, Slate, Meagher & Flom LLP
Last Updated: December 22, 2025
Skadden, Arps, Slate, Meagher & Flom LLPCompany Information
Industry: Energy
Description
A leading international law firm focused on providing high-quality legal services across a broad range of sectors and practice areas.
What They Do
Provide legal services in various practice areas including corporate, intellectual property, litigation, and regulatory matters.
Who They Serve
Corporations, governments, and individuals seeking legal assistance.
Key Value Propositions
Expertise in multiple legal fields
Global reach with offices worldwide
Strong commitment to client service
Target Customers
Corporations
Financial institutions
Government entities
Non-profit organizations
Individuals
Industries Served
Energy
Corporate
Financial Services
Healthcare
Technology
Real Estate
Media & Entertainment
Contact Information
Summary
Skadden's finance group advises on distressed situations, including credit and bond financings, liability management, restructurings in and out of court, and distressed M&A for corporations and financial institutions.
Resources
Supporting Resources
Detailed Comparison
Cross-Border Expertise
Global, multi-jurisdictional finance and restructuring capability: 21 offices across four continents with local law capabilities (English, EU, French, German, Hong Kong, Japanese). Handles multijurisdictional financings and cross-border restructurings, coordinating cross-border elements and navigating insolvency regimes worldwide; recognized in GRR 30 for cross-border restructuring advice. (skadden.com)
Track Record in Complex Cases
Skadden pioneered prepackaged Chapter 11s and led record‑setting restructurings: CIT Group’s largest‑ever prepack solicitation; MGM’s sub‑30‑day $4B prepack; SunEdison (largest 2016 Ch. 11); Kmart (largest U.S. retail Ch. 11); LyondellBasell’s then‑largest $8.5B DIP; cross‑border Takata/Westinghouse matters; first U.S., Australia out‑of‑court restructuring (Centro). Recognized in GRR 30 and award‑winning deals. (skadden.com)
Integration of Legal and Financial Advisory
Skadden integrates legal and financial advisory by coordinating finance, capital markets and corporate restructuring teams to advise on credit/bond financings, liability management, in- and out-of-court restructurings, DIP financings, distressed M&A, and capital-structure analysis to protect downside risk and maximize value. (skadden.com)
Last Updated: December 22, 2025
Greenberg TraurigCompany Information
Industry: Energy
Description
A leading international law firm focused on providing high-quality legal services across a broad range of sectors and practice areas.
What They Do
Provide legal services in various practice areas including corporate, intellectual property, litigation, and regulatory matters.
Who They Serve
Corporations, governments, and individuals seeking legal assistance.
Key Value Propositions
Expertise in multiple legal fields
Global reach with offices worldwide
Strong commitment to client service
Target Customers
Corporations
Financial institutions
Government entities
Non-profit organizations
Individuals
Industries Served
Energy
Corporate
Financial Services
Healthcare
Technology
Real Estate
Media & Entertainment
Contact Information
Summary
Greenberg Traurig offers strategies for in- and out-of-court reorganizations, workouts, distressed acquisitions, and cross-border proceedings, serving debtors, creditors, investors, and equity holders.
Key Features
- Extensive practice areas covering corporate, litigation, regulatory, tax, real estate, intellectual property, labor & employment, and more.
- Industry-specific legal services for sectors such as banking, fintech, energy, entertainment, gaming, healthcare, hospitality, manufacturing, real estate, technology, and transportation.
- Specialized sub-practices within each area, including regulatory compliance, dispute resolution, cybersecurity, M&A, private equity, and more.
- Global presence with offices in major cities across the United States, Europe, the Middle East, Asia, and Latin America.
- Integrated, cross-disciplinary teams to address complex, multi-jurisdictional legal matters.
Who Is It For
- Corporations
- Financial institutions
- Startups and emerging companies
- Government entities
- Nonprofits
- Private individuals and family offices
- Industry-specific clients (e.g., energy, entertainment, healthcare, real estate, technology, manufacturing, transportation, hospitality, gaming, food & beverage, etc.)
Resources
Supporting Resources
Detailed Comparison
Cross-Border Expertise
Internationally recognized restructuring practice handling in- and out-of-court reorganizations, distressed M&A, and cross-border proceedings; ranked in GRR 30 as a leading firm for cross-border restructuring and insolvency matters. (gtlaw.com)
Track Record in Complex Cases
Award-winning restructuring track record: counsel in Washington Prime Group’s large Chapter 11 (Turnaround Atlas award). (gtlaw.com) Represented Sandy Creek noteholders in Brazos Electric’s bankruptcy, securing $150M in plan distributions after complex, multi‑party negotiations (M&A Advisor Utilities Deal of the Year). (gtlaw.com) Recognized Top Law Firm, Lender/Agent Counsel for 2024 by BankruptcyData. (gtlaw.com)
Integration of Legal and Financial Advisory
Greenberg Traurig integrates legal and financial advisory via multidisciplinary teams spanning finance, capital markets, and regulatory, advising lenders, borrowers, and debtors/creditors on financings, restructurings/workouts, and distressed M&A. (gtlaw.com) Examples: multidisciplinary counsel on Procaps’ $130M equity raise and $209M debt restructuring; RE-STRUC combines real estate, restructuring, financing, regulatory, and tax expertise. (gtlaw.com)
5
Pillsbury Winthrop Shaw Pittman
Last Updated: December 22, 2025
Pillsbury Winthrop Shaw PittmanCompany Information
Industry: Energy
Description
A leading international law firm focused on providing high-quality legal services across a broad range of sectors and practice areas.
What They Do
Provide legal services in various practice areas including corporate, intellectual property, litigation, and regulatory matters.
Who They Serve
Corporations, governments, and individuals seeking legal assistance.
Key Value Propositions
Expertise in multiple legal fields
Global reach with offices worldwide
Strong commitment to client service
Target Customers
Corporations
Financial institutions
Government entities
Non-profit organizations
Individuals
Industries Served
Energy
Corporate
Financial Services
Healthcare
Technology
Real Estate
Media & Entertainment
Contact Information
Summary
Pillsbury represents financially distressed entities and creditors in insolvency and restructuring matters, earning recognition for landmark deals.
Key Features
- Comprehensive legal services across corporate, finance, IP, litigation, and regulatory domains
- Industry-focused teams with deep sector experience
- Global reach with offices across the Americas, Europe, Asia, Africa, and the Middle East
- Specialized solutions teams for emerging issues (e.g., privacy law, cybersecurity, fintech, crisis management)
- Award-winning litigation team with over 200 litigators
- More than 100 intellectual property lawyers worldwide
- Regulatory team includes former senior U.S. government officials
Who Is It For
- Corporations and organizations at all stages of growth
- Clients in industries such as energy, financial services, real estate, technology, aviation, communications, retail, education, health care, life sciences, nonprofit, hospitality, and more
- Clients with international business needs
Sectors
Our lawyers have broad and deep sector experience across a wide swath of the world’s most important industries.
- Aviation, Aerospace & Transportation
- Communications
- Retail, Ecommerce & Consumer Brands
- Cybersecurity, Data Protection & Privacy
- Education
- Energy
- Financial Industry Group
- Health Care
- Internet & Interactive Entertainment
- Life Sciences
- Nonprofit Organizations
- Real Estate & Construction
- Restaurant, Food & Beverage
- Technology
- Travel, Leisure & Hospitality
- Wine, Beer & Spirits Law
Corporate & Transactional
From formation, financing and acquisition through divestiture, organizations at every stage of growth rely on Pillsbury’s corporate and transactional lawyers for guidance.
- Capital Markets
- Emerging Companies & Venture Capital
- Employment Law
- Energy Capital Markets
- Trusts & Estates
- Executive Compensation & Benefits
- Financial Industry Group
- Global Sourcing & Technology Transactions
- Impact Investing
- Insolvency & Restructuring
- Investment Funds
- Mergers & Acquisitions
- Private Equity
- Real Estate
- REITs & Real Estate Capital Markets
- Tax
- Technology Transactions
Finance
Pillsbury’s finance lawyers anticipate problems and devise innovative and effective financing solutions, handling the full spectrum of legal and business issues that impact financing and investment transactions in all industries.
- Asset Finance
- Bank & Leveraged Finance
- Derivatives & Structured Products
- Financial Industry Group
- Financial Services Litigation
- Insolvency & Restructuring
- Projects
- Real Estate Finance
- Structured Finance
- Sustainable Finance
- Trade & Export Credit Agency Finance
Intellectual Property
With more than 100 Intellectual Property lawyers around the world, Pillsbury provides clients with successful and comprehensive IP strategies to protect, manage, assert, defend and leverage their IP assets.
- Intellectual Property Litigation
- Patent Counseling, Prosecution and Litigation
- Trademark Counseling, Prosecution & Litigation
- Trade Secrets Counseling & Litigation
- Copyright Counseling & Litigation
- ITC Section 337
- Post-Grant Proceedings
- IP Audits & Strategic Planning
- Open Source
Litigation
Pillsbury’s award-winning team of more than 200 litigators takes on emerging issues, sets precedent in complex large-scale matters and has earned the respect of judges, juries and rivals.
- Antitrust & Competition
- Appellate
- Business Trials & Litigation
- Commercial Litigation in New York
- Construction Counseling & Dispute Resolution
- Consumer Class Actions
- Corporate Investigations & White Collar Defense
- Employment Law
- Environmental Litigation
- Financial Services Litigation
- Government Contracts & Disputes
- Health Care Litigation
- Information Law & Electronic Discovery
- Insolvency & Restructuring
- Insurance Recovery & Advisory
- Intellectual Property Litigation
- International Arbitration
- Litigation – Trusts, Estates and High Net Worth
- Product Liability & Mass Torts Defense
- Real Estate Litigation
- Securities Litigation & Enforcement
- Federal Tax Controversy & Tax Policy
- State & Local Tax
Regulatory
We offer deep experience with a team that includes former senior officials in the U.S. government, who, in many instances, drafted the regulations, wrote the legislation or helped establish the policies most directly impacting our clients.
- Aviation, Aerospace & Transportation - Regulatory
- Communications
- Consumer Finance Regulatory
- Consumer Protection
- Energy
- Environmental & Natural Resources
- Financial Services Regulation
- Government Contracts & Disputes
- Government Law & Strategies
- International Trade
- Minerals, Metals and Materials Supply Chains
- National Security and Defense Innovation
- Native American Law
Global Reach
From offices across the Americas, Europe, Asia, Africa and the Middle East, Pillsbury offers fully integrated service to clients doing business around the globe. Nearly one-third of our work is international in nature.
- Canada
- China
- India
- Israel
- Japan
- Korea
- Latin America
- Middle East
Solutions Teams
From privacy law, cybersecurity and fintech to unmanned aircraft systems and crisis management, Pillsbury lawyers keep clients well positioned to manage high-impact emerging issues, reduce risk and maximize opportunities.
- Access to Capital Resource Center
- California Consumer Privacy Act (CCPA)
- Crisis Management
- Cybersecurity, Data Protection & Privacy
- Fintech, Payments & Blockchain
- Human Capital Solutions
- Private Client & Family Office
- Public-Private Partnerships (P3)
- Unmanned Aircraft Systems (UAS)
Resources
Supporting Resources
Detailed Comparison
Cross-Border Expertise
Global firm with offices in London, Beijing, Shanghai, Tokyo, Hong Kong, Doha, Riyadh, and the U.S., supporting cross-border transactions and disputes. (pillsburylaw.com) London handles matters across Europe, the Americas, Asia, Middle East, and Africa. (pillsburylaw.com) Nearly one-third of work is cross-border. (pillsburylaw.com) Recognized for cross-border restructuring (e.g., SAS AB proceedings). (pillsburylaw.com)
Track Record in Complex Cases
Strong record in complex restructurings: led 51-state AG coalition in Endo International’s Chapter 11, securing a $465.2m opioid settlement (Turnaround Atlas “Chapter 11 Transaction of the Year”). (pillsburylaw.com) Represented major creditors in Avianca’s Chapter 11 (Latin Lawyer Deal of the Year). (pillsburylaw.com) Notable airline cases (American $3B; Delta $2B). (pillsburylaw.com) GRR 100 2025-ranked. (pillsburylaw.com)
Integration of Legal and Financial Advisory
Pillsbury integrates legal and financial advisory through cross-practice restructuring and finance teams that structure DIP/exit financings, leveraged financings and distressed M&A for banks, investment banks, funds and borrowers; it also mobilizes consultants for corporate/financial crises and includes lawyers with prior banking experience for commercially grounded advice. (pillsburylaw.com)
Our Ranking Methodology
How we rank these offerings
We ranked these Distressed Debt Restructuring Firms in USA based on three key factors: Cross-Border Expertise (40% weight), Track Record in Complex Cases (35% weight), and Integration of Legal and Financial Advisory (25% weight). PJT Partners scored highest because of its seamless global restructuring capabilities and award-winning advisory in complex, cross-border situations.
Ranking Criteria Weights:
40%
Cross-Border Expertise
Cross-border expertise is critical for firms handling multinational distressed debt cases, ensuring seamless international operations.
35%
Track Record in Complex Cases
A proven track record in complex cases demonstrates the firm's ability to effectively manage intricate restructuring scenarios.
25%
Integration of Legal and Financial Advisory
Integrating legal and financial advisory services is crucial for offering comprehensive restructuring solutions that address all aspects of distressed debt challenges.
Rankings last updated: 12/22/2025
Frequently Asked Questions
- What are the typical costs and pricing models for distressed debt restructuring firms in the USA?
- Typical costs for distressed debt restructuring firms can vary widely depending on the complexity and scale of the case. Firms like Skadden and White & Case often employ a combination of hourly billing and success-based fees, particularly for high-stakes Chapter 11 proceedings. Flat fees may be used for more predictable aspects of restructuring, such as certain transactional work, as seen in Greenberg Traurig's cross-border proceedings approach. The involvement of firms in both litigation and transactional matters, as handled by White & Case, means that costs can also be influenced by the location and jurisdiction of the distressed entity.
- What are the key selection criteria and considerations when choosing a distressed debt restructuring firm?
- Key selection criteria include the firm's expertise in both litigation and transactional aspects of restructuring, as provided by White & Case, and their global reach. It's crucial to consider a firm's track record in handling complex, multinational cases, as exemplified by Skadden's handling of distressed M&A situations. Additionally, the ability to provide comprehensive strategies for both in- and out-of-court solutions, as offered by Greenberg Traurig, is important. Consideration of the firm's experience in handling creditor and debtor cases, such as those managed by Pillsbury, is also essential.
- What are the industry standards and compliance requirements in distressed debt restructuring?
- Industry standards often require compliance with federal bankruptcy laws, particularly when handling Chapter 11 proceedings, as emphasized by White & Case's multinational approach. Firms must adhere to SEC regulations when managing distressed securities, which is part of the compliance checks handled by Skadden's finance group. International transactions may require conformity with cross-border insolvency protocols, an area where Greenberg Traurig excels. Moreover, ensuring ethical standards and fiduciary duties are maintained is essential, especially in environments involving complex creditor-debtor negotiations as managed by PJT Partners.
- What are some implementation challenges and solutions in distressed debt restructuring?
- Key challenges include navigating jurisdictional complexities and managing stakeholder interests, which White & Case addresses through their global jurisdiction resources. Companies face difficulties in achieving consensus among creditors, a challenge that Skadden mitigates with strategic liability management. Managing cross-border legal and financial systems poses another challenge, which Greenberg Traurig alleviates with their experience in cross-border proceedings. PJT Partners aids in overcoming the challenge of restructuring execution by advising on efficient turnaround strategies and recapitalizations.
- How is ROI and value delivery measured in distressed debt restructuring?
- ROI in distressed debt restructuring is measured by the recovery rate for creditors and the ability to return distressed entities to solvency. White & Case's involvement in both litigation and transactional restructuring helps optimize financial recoveries. Skadden's expertise in distressed M&A provides clients with potential opportunities for enhanced value realization through strategic acquisitions or sales. Greenberg Traurig focuses on financial and operational restructuring strategies that restore long-term viability, thus ensuring sustainable value delivery to stakeholders.
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