Curtis Receives 12 Nominations at M&A Advisor Turnaround Awards

Curtis transactions have received 12 nominations across nine categories at the 7th Annual M&A Advisor Turnaround Awards. The winners will be announced at the Awards Gala to be held on March 6, 2013, in Palm Beach, Florida.

The Reorganization of Lehman Brothers is nominated for Chapter 11 Reorganization of the Year (Over $250m), Professional Services Deal of the Year (Over $100m) and Financial Services Deal of the Year. The Lehman chapter 11 filing remains the largest in U.S. history, with Lehman holding over $600 billion in assets. The extraordinary circumstances surrounding the bankruptcy presented new legal issues which will significantly impact the financial industry in the future. Curtis served as conflicts counsel to Lehman and its affiliated debtors, handling all bankruptcy, corporate and litigation related matters where Lehman's lead counsel had an actual or perceived conflict of interest. The Curtis team includes partners Lynn Harrison 3rd; Joseph Pizzurro, Nancy Delaney, Michael Moscato, Turner Smith and Peter Behmke, and counsel Myles Bartley (Litigation); and partners Andy Seiden and Dan Lenihan, counsel Susan Pollack, and associate Susana Namnum (Corporate).

The Chapter 11 Restructuring of General Maritime, which was recently chosen as Energy Deal of the Year at the 11th Annual M&A Advisor Awards, is nominated for Restructuring Deal of the Year (Over $500m), Chapter 11 Reorganization of the Year (Over $250m), Industrial Manufacturing/Distribution (Over $50m) Deal of the Year and Energy Deal of the Year. Facing the worst economic environment for the oil tanker industry in decades, General Maritime Corporation, a leading provider of international seaborne transportation for crude oil, filed for relief under chapter 11 of the Bankruptcy Code. Just six months after filing, General Maritime successfully emerged from bankruptcy with reduced indebtedness and increased liquidity, allowing the company to continue operating as a leading seaborne transportation service. The team includes partner Michael A. Cohen, counsel Maryann Gallagher and associate Peter Buenger (Restructuring and Insolvency).

The Chapter 11 Restructuring of Sbarro is nominated for Restructuring Deal of the Year ($100m to $500m), Chapter 11 Reorganization of the Year (Over $250m) and Consumer and Retail Products Deal of the Year (Over $250m). Pursuant to their chapter 11 plan of reorganization, Sbarro and its affiliates were able to reduce their debt and ensure enough liquidity to emerge as a successful company. In just under eight months, the company transitioned out of chapter 11 more stable, both financially and operationally, and with trade relationships still intact. The team includes partner Michael A. Cohen and associate James Zimmer (Restructuring & Insolvency); associate Gary Moy (Litigation); and partner Evan Borenstein (Corporate).

The Chapter 11 Restructuring of Caribe Media Inc. is nominated for Restructuring Deal of the Year ($100m to $500m), and Consumer and Retail Products Deal of the Year (Between $10m and $250m). In just over six months, Caribe, a publisher of telephone directories, achieved a consensual restructuring that accomplished the goal of providing a global settlement resolving intercompany claims with non-debtor affiliates, and reduced their outstanding indebtedness by approximately $185 million. This reduction allowed the company to successfully emerge from chapter 11 as a stand-alone enterprise. The team includes partner Michael A. Cohen and associate James Zimmer (Restructuring & Insolvency); and partner Evan Borenstein (Corporate).