Cravath’s New York Office Moves to Two Manhattan West
Cravath has been at the forefront of restructuring since the early days of the Firm itself, “practicing bankruptcy law for longer than most firms have even existed.” (Law360) Cravath continues to represent clients in restructuring, reorganization and bankruptcy matters that have marked pivotal moments in U.S. and global markets, including the bankruptcy of PG&E and the Republic of Argentina’s historic debt restructuring.
Cravath’s litigators represent companies, creditors and other counterparties facing their most challenging and critical litigation due to bankruptcy or reorganization. We have extensive experience handling matters related to various bankruptcy‑related causes of action, including alleged fraudulent conveyances, alleged breaches of fiduciary duty by board members or officers of distressed companies, disputes arising out of lender claims and alleged breaches of contract. We also have important experience in the fields of municipal and sovereign restructuring.
Our litigators work closely with Cravath’s Financial Restructuring & Reorganization (FR&R) practice to achieve the best results in this specialized area of litigation. Clients benefit from our role as a strategic and commercial partner in the face of issues triggered by financial distress or insolvency, receiving complete representation not only from our dedicated restructuring specialists, but also from the Firm’s premier litigation, board advisory, M&A and finance teams. In addition to our bankruptcy litigation work, Cravath’s substantial experience with reorganization and restructuring matters includes both debtor and creditor side engagements, debtor in possession (DIP) and exit financing, advising independent directors and boards of directors, distressed M&A (in court and out of court), and advising bondholder and other ad hoc creditor groups. We also advise corporate clients on bankruptcy issues in a wide variety of commercial contexts, from how bankruptcy provisions might impact their relationships with distressed commercial counterparties to how best to structure transactions to mitigate bankruptcy risk.
Among other accolades in this area, Cravath has been repeatedly recognized as a “Bankruptcy Practice Group of the Year” by Law360, “Restructuring Advisory Firm of the Year” by The Deal and a leading firm by Chambers USA.
Cravath’s litigators represent companies, creditors and other counterparties facing their most challenging and critical litigation due to bankruptcy or reorganization. We have extensive experience handling matters related to various bankruptcy‑related causes of action, including alleged fraudulent conveyances, alleged breaches of fiduciary duty by board members or officers of distressed companies, disputes arising out of lender claims and alleged breaches of contract. We also have important experience in the fields of municipal and sovereign restructuring.
Our litigators work closely with Cravath’s Financial Restructuring & Reorganization (FR&R) practice to achieve the best results in this specialized area of litigation. Clients benefit from our role as a strategic and commercial partner in the face of issues triggered by financial distress or insolvency, receiving complete representation not only from our dedicated restructuring specialists, but also from the Firm’s premier litigation, board advisory, M&A and finance teams. In addition to our bankruptcy litigation work, Cravath’s substantial experience with reorganization and restructuring matters includes both debtor and creditor side engagements, debtor in possession (DIP) and exit financing, advising independent directors and boards of directors, distressed M&A (in court and out of court), and advising bondholder and other ad hoc creditor groups. We also advise corporate clients on bankruptcy issues in a wide variety of commercial contexts, from how bankruptcy provisions might impact their relationships with distressed commercial counterparties to how best to structure transactions to mitigate bankruptcy risk.
Among other accolades in this area, Cravath has been repeatedly recognized as a “Bankruptcy Practice Group of the Year” by Law360, “Restructuring Advisory Firm of the Year” by The Deal and a leading firm by Chambers USA.
Deals & Cases
November 27, 2023
On November 20, 2023, the California Supreme Court held that Cravath client PG&E, the country’s largest utility, cannot be sued for losses incurred by customers during public safety power shutoffs that complied with the guidelines set forth by its regulator, the California Public Utilities Commission (“PUC”). In a unanimous decision, the Court held that such claims are barred because their adjudication would interfere with the PUC’s comprehensive supervision and regulation of safety shutoffs.
Deals & Cases
August 11, 2022
On August 5, 2022, the New York Supreme Court, Commercial Division, dismissed with prejudice a lawsuit brought by Moby S.p.A., one of the world’s largest passenger shipping companies, against Cravath client Morgan Stanley and two of its employees. The lawsuit was related to Moby’s restructuring proceeding in Milan, Italy.
Accolades
June 18, 2024
On June 14, 2024, Cravath partners Michael A. Paskin, George E. Zobitz, Paul H. Zumbro, Jelena McWilliams, Lauren A. Moskowitz and Omid H. Nasab were named to Lawdragon’s list of “500 Leading Global Bankruptcy and Restructuring Lawyers” in recognition of their work advising clients on financial restructuring and reorganization and related litigation matters. The list recognizes the lawyers “who can make all the difference for a business, debtor or creditor and have done so time and time again.”
Activities & Publications
May 01, 2024
On May 1, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the first quarter of 2024. This edition also examines several recent litigation decisions, including in bankruptcy court, “double dip” financing, emerging trends as early filers comply with the SEC cybersecurity rules and a variety of SEC rulemaking and enforcement updates.
Activities & Publications
February 07, 2024
On February 6, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the fourth quarter of 2023. This edition also examines several recent litigation decisions, including in bankruptcy court, notable developments on digital asset regulation, updates on interest rate benchmarks and a variety of SEC rulemaking, comment and enforcement updates.
Activities & Publications
February 07, 2024
On February 6, 2024, Cravath published the latest edition of its Quarterly Review, which examines the Q4 2023 M&A, activism and corporate governance landscape. The Review provides an overview of activity in those areas and discusses other fourth quarter highlights, including the FTC and DOJ’s finalized merger guidelines, recent Delaware cases and related jurisprudence, findings from the FTC and DOJ Antitrust Division’s Hart‑Scott‑Rodino Annual Report and recent rule adoptions related to corporate governance matters.
Accolades
December 04, 2023
On November 29, 2023, The Am Law Litigation Daily featured Cravath partner Omid H. Nasab as “Litigator of the Week” for his representation of client PG&E, the country’s largest utility, in a victory at the California Supreme Court. In a unanimous decision, the Court held that PG&E cannot be sued for losses incurred by customers during public safety power shutoffs that complied with the guidelines set forth by its regulator, the California Public Utilities Commission. Cravath also served as lead counsel for PG&E in related proceedings before the United States Bankruptcy Court, the United States District Court and the Ninth Circuit Court of Appeals.
Deals & Cases
November 27, 2023
On November 20, 2023, the California Supreme Court held that Cravath client PG&E, the country’s largest utility, cannot be sued for losses incurred by customers during public safety power shutoffs that complied with the guidelines set forth by its regulator, the California Public Utilities Commission (“PUC”). In a unanimous decision, the Court held that such claims are barred because their adjudication would interfere with the PUC’s comprehensive supervision and regulation of safety shutoffs.
Deals & Cases
August 11, 2022
On August 5, 2022, the New York Supreme Court, Commercial Division, dismissed with prejudice a lawsuit brought by Moby S.p.A., one of the world’s largest passenger shipping companies, against Cravath client Morgan Stanley and two of its employees. The lawsuit was related to Moby’s restructuring proceeding in Milan, Italy.
Accolades
June 18, 2024
On June 14, 2024, Cravath partners Michael A. Paskin, George E. Zobitz, Paul H. Zumbro, Jelena McWilliams, Lauren A. Moskowitz and Omid H. Nasab were named to Lawdragon’s list of “500 Leading Global Bankruptcy and Restructuring Lawyers” in recognition of their work advising clients on financial restructuring and reorganization and related litigation matters. The list recognizes the lawyers “who can make all the difference for a business, debtor or creditor and have done so time and time again.”
Activities & Publications
May 01, 2024
On May 1, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the first quarter of 2024. This edition also examines several recent litigation decisions, including in bankruptcy court, “double dip” financing, emerging trends as early filers comply with the SEC cybersecurity rules and a variety of SEC rulemaking and enforcement updates.
Activities & Publications
February 07, 2024
On February 6, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the fourth quarter of 2023. This edition also examines several recent litigation decisions, including in bankruptcy court, notable developments on digital asset regulation, updates on interest rate benchmarks and a variety of SEC rulemaking, comment and enforcement updates.
Activities & Publications
February 07, 2024
On February 6, 2024, Cravath published the latest edition of its Quarterly Review, which examines the Q4 2023 M&A, activism and corporate governance landscape. The Review provides an overview of activity in those areas and discusses other fourth quarter highlights, including the FTC and DOJ’s finalized merger guidelines, recent Delaware cases and related jurisprudence, findings from the FTC and DOJ Antitrust Division’s Hart‑Scott‑Rodino Annual Report and recent rule adoptions related to corporate governance matters.
Accolades
December 04, 2023
On November 29, 2023, The Am Law Litigation Daily featured Cravath partner Omid H. Nasab as “Litigator of the Week” for his representation of client PG&E, the country’s largest utility, in a victory at the California Supreme Court. In a unanimous decision, the Court held that PG&E cannot be sued for losses incurred by customers during public safety power shutoffs that complied with the guidelines set forth by its regulator, the California Public Utilities Commission. Cravath also served as lead counsel for PG&E in related proceedings before the United States Bankruptcy Court, the United States District Court and the Ninth Circuit Court of Appeals.
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