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NEWS

June 21, 2011
Curtis Honored at 2011 Turnaround Atlas Awards

 
 

 

New York, June 21, 2011 -- Curtis, Mallet-Prevost, Colt & Mosle LLP won Turnaround Atlas Awards for several of its significant restructuring matters. Curtis was honored with the Turnaround Atlas Award for "Turnaround of the Year ($5 million plus) and "Special Situation M&A Deal of the Year (middle markets)."

The Turnaround Atlas Awards recognize outstanding performances from the distressed M&A, restructuring and reorganization communities. The awards were presented by the Global M&A Network at its annual dinner in Chicago, Illinois on June 16, 2011.

"Curtis is thrilled to be recognized with these honors in a diverse group of restructuring matters," said Steven J. Reisman, co-Chair of the Curtis Restructuring and Insolvency Group. "We are very proud of all of our lawyers who played major roles in these significant transactions."

Curtis and client GB Merchant Partners each received the Turnaround Atlas Award for "Turnaround of the Year ($5 million plus)" for their roles in the acquisition of Ashley Stewart by GB Merchant Partners’ 1903 Equity Fund, the institutional private equity affiliate of The Gordon Brothers Group. Curtis served as counsel to GB Merchant Partners in the successful bid to acquire Ashley Stewart from the chapter 11 bankruptcy cases of Urban Brands Inc. In acquiring Ashley Stewart, GB Merchant Partners rescued an iconic retail brand from likely liquidation, thereby preserving nearly 200 operating stores and the thousands of associated jobs. The team was led by partners Steven Reisman and Timothy Barnes and included partner Lawrence Goodman and associates James Zimmer, Danny Phillips and Joshua Geller.

Curtis received the Turnaround Atlas Award for "Special Situation M&A Deal of the Year (middle markets)" for its role in the acquisition of Marquis Jet by NetJets Inc. Prior to its acquisition by NetJets, Marquis was the national industry leader in private jet cards, which provided fractional ownership of more than 80 aircraft.

Curtis was one of several legal and professional firms advising Marquis Jet in the transaction, pursuant to which Marquis became part of the Berkshire Hathaway conglomerate of companies. The Curtis team was led by partners Steven Reisman and Timothy Barnes and included partners Jerrold Bregman, Valarie Hing, Evan Borenstein, Andy Seiden, Turner Smith and Theresa Foudy; and associates Heather Elizabeth Saydah, Massimo Giugliano, Doug Glazer, Brad Doline and Josh Holt.

In addition, Curtis played a significant role in the following turnaround deals which were also given awards in their respective categories:

The Readers' Digest Association, Inc. received the Turnaround Atlas Award for "Pre-packaged Reorganization of the Year (large)" for companies with more than $1 billion in assets. Curtis served as conflicts counsel to Readers' Digest in the bankruptcy case, in which a prepackaged bankruptcy plan implemented the terms of a consensual de-leveraging transaction that has been projected to reduce Readers' Digest's total debt from approximately $2.2 billion to approximately $555 million. The team was led by partner Steven Reisman.

Atrium Companies, Inc. received the Turnaround Atlas Award for "Chapter 11 Reorganization of the Year (upper middle markets)." Curtis served as counsel to the acquirer, Golden Gate Capital. The team was led by partners Steven Reisman and Mat Vega and associates Danny Phillips and Joshua Geller.

Smurfit-Stone Container Corp. received the Turnaround Atlas Award for "Industrial & Manufacturing Turnaround of the Year." Curtis served as lead counsel to Wilmington Trust Company as indenture trustee of the funded debt obligations of Smurfit. The team was led by partners Steven Reisman and Jerrold Bregman.

In 2010, the Turnaround Atlas Awards honored Curtis with the Turnaround Atlas Award for "Pre-Packaged Chapter 11 Reorganization of the Year" award for the restructuring of companies with less than $1 billion in assets for its role as lead counsel in the pre-packaged bankruptcy restructuring of client Cygnus Business Media. Three other Chapter 11 reorganizations in which Curtis acted as conflicts counsel were also recognized last year: CIT Group, Bally Total Fitness and Charter Communications.

Curtis, Mallet-Prevost, Colt & Mosle LLP is a leading international law firm providing a broad range of services to clients around the world. Curtis has 14 offices in Europe, the United States, Latin America, the Middle East and Central Asia. For more information about Curtis, please visit www.curtis.com or follow Curtis on Twitter (http://twitter.com/curtislawfirm) and Facebook (https://www.facebook.com/Curtis.Careers).

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