Paul Hastings LLP has expanded its financial restructuring group significantly over the last three years, which included the hiring of 11 additional restructuring and finance lawyers from King & Spalding LLP in 2024; this includes Matthew Warren and Zach Cochran, with Warren joining the Chicago office and Cochran splitting his time between Atlanta and New York. The team is particularly known for its roles on the creditor-side, including in numerous billion-dollar restructurings. It advised the unsecured creditors’ committee in the bankruptcy of FTX, which involved $32bn in liabilities and an $8bn shortfall in FTX’s balance sheet and a massive fraud; the firm had to employ traditional bankruptcy expertise alongside cryptocurrency experience to deal with asset recovery across multiple jurisdictions and asset classes. The team is spread across the firm’s New York, Texas, Chicago, California and Washington DC offices. Along with its notable expertise in cryptocurrency, it is also recognised for its experience in real estate and telecoms. Kristopher Hansen and Jayme Goldstein co-head the financial restructuring group; Hansen is noted for his ad hoc creditor committee roles, leading a team in the FTX and WeWork bankruptcies, while Goldstein headed a group that worked on the multi-billion-dollar rescue of Travelport. Jonathan Canfield and Gabe Sasson are also key partners. Named individuals are all based in New York, unless stated otherwise.
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‘The practice is unique in that it is comprised of core bankruptcy practitioners, bankruptcy litigators, corporate attorneys as well as those with debt finance expertise, making the team immediately responsive and knowledgeable on relevant issues.'
'The team has also been at the forefront of the financial restructuring world, taking novel positions in negotiations and litigations and obtaining successful results in those endeavors. The team knows when to be aggressive and when it is more advantageous to moderate action, which is a rare quality in this field.’
‘I have worked closely with Kris Hansen, Ken Pasquale and Gabe Sasson, among others in the group and they are superb attorneys and individuals, generally. They are always well versed in cutting edge issues in the field and come up with creative, often never before used strategies and legal arguments. The team is able to present points in a cohesive and clear manner that makes it easy for all to participate in decision making.’
‘The Paul Hastings team is fantastic, growing and dynamic, and is at the cutting edge of liability management and restructuring technology.’
‘The superstars on the Paul Hastings team that I had an opportunity to work with this year include Jayme Goldstein, Jeremy Evans, Isaac Sasson, David Hong, and Dan Fliman. Operating at the top of their game in dealing with in court and out of court restructurings, liability management transactions, and litigation.’
‘We really enjoy working with the Paul Hastings team. The addition of the team from King & Spalding (Matt Warren and Zach Cochran etc) was a real coup. We view this group as one of the strongest on the street. Very client friendly, very sophisticated and very smart.’
‘Matt Warren is great, a real up and comer. We are thrilled to work with him. Zach Cochran is a machine and can handle anything, letting you sleep easily at night. We also enjoy working with Dan Fliman. David Hong is brilliant and one of the best kept secrets on the street, particularly where derivative and LME matters intersect.’
Clients clés
- Official Committee of Unsecured Creditors of FTX
- Official Committee of Unsecured Creditors of WeWork
- Ad Hoc Group of First Lien Lenders to Franchise Group
- Ad Hoc Group of Crossholders of Diamond Sports Group
- Official Committee of Talc Claimants of Red River Talc LLC
- Barnes & Noble Education
- Ad hoc group of convertible noteholders of Spirit Airlines
Avocats
Les grands avocats du marché
Avocats associés reconnus parmi les leaders du marché par leurs pairs et leurs clients, régulièrement présents dans les grands dossiers dans lesquels ils sont au premier plan.
Responsable de la pratique
Kristopher Hansen; Jayme Goldstein
Autres avocats clés
Jonathan Canfield; Gabe Sasson; Ken Pasquale; Matthew Warren; Zach Cochran; Dan Fliman; David Hong; Jeremy Evans; Isaac Sasson