Debtwire today published its Restructuring Advisory Mandate Report for June and 1H17, which tracks and ranks advisors by the total number of representations announced or reported by Debtwire during 2017, covering both in-court and out-of-court situations. The report breaks down mandates by category of representation (i.e., lead counsel, local/special counsel, financial advisors/investment bankers, restructuring advisors, claims agents) and type of client (i.e., company-side, committees, financial creditor). The report also highlights retail and energy sector retentions and provides snapshots of the leading players in the counsel, financial advisor, and restructuring advisor spaces.
Kirkland & Ellis is the clear leader in the lead counsel category, with 21 hires to in 2017, six more than Morgan Lewis & Bockius. Kirkland’s mandates were weighted company-side, while Morgan Lewis was heavily creditor-focused. Young Conaway Stargatt & Taylor led the local/special counsel category with 13 mandates, followed closely by Richards Layton & Finger with 11.
On the financial advisor/investment banker side, Houlihan Lokey ran away with the category. Houlihan’s 25 engagements are more than double FTI Consulting’s 11.
For restructuring advisors, AlixPartners’ 13 representations topped Alvarez & Marsal’s nine, while Prime Clerk dominated the claims agent space doubling the rest of the field.