Paul Zumbro Named a Winner of the Turnaround Management Association’s 2021 “Mega Company” Turnaround/Transaction Award
September 15, 2021
On September 14, 2021, the Turnaround Management Association (“TMA”) announced Cravath partner Paul H. Zumbro as a winner of the 2021 Turnaround/Transaction Award in the “Mega Company” category, for his representation of PG&E in its Chapter 11 bankruptcy and related wildfire settlements. TMA annually recognizes “the most successful turnarounds and impactful transactions industry‑wide.” This year’s winners were specifically chosen based on their “significant impact on the global economy during one of the most challenging times for business in generations.”
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1992, Yale CollegeDistinction in Major, cum laude
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September 25, 2020
PG&E Emerges from Chapter 11
On July 1, 2020, PG&E Corporation and Pacific Gas & Electric Company (together, “PG&E”) announced that PG&E has emerged from Chapter 11, successfully completing its restructuring process and implementing PG&E’s Plan of Reorganization that was confirmed by the United States Bankruptcy Court on June 20, 2020. Cravath has represented PG&E as corporate, financing and litigation counsel in its Chapter 11 bankruptcy proceedings, as counsel in the arrangement of its Debtor‑in‑Possession financing, committed debt bridge financing, committed backstop equity financing and marketed equity exit financing, and in litigation related to the 2017 and 2018 Northern California Wildfires.
