 |
Who's Getting the Big-Ticket Work?
Largest Bankruptcies Filed, 2002
Bankruptcy's big four -- Jones Day; Kirkland & Ellis; Skadden, Arps, Slate, Meagher & Flom; and Weil, Gotshal & Manges -- dominated the debtor side of this year's bankruptcy chart, which lists lead counsel in the 22 largest filings of 2002. Skadden represented debtors in five of the filings, while Jones Day, Kirkland, and Weil had three representations each. On the creditors side, Akin Gump Strauss Hauer & Feld was dominant, with lead representations of creditors committees in five of the 22 largest filings. Four other firms -- Brown Rudnick Berlack Israels; Fried, Frank, Harris, Shriver & Jacobson; Kramer Levin Naftalis & Frankel; and Otterbourg, Steindler, Houston & Rosen -- each had two creditors-side representations.
| For research reports on these featured firms and other large U.S. and global firms, access LegalMarketInfo at www.legalmarketinfo.com.
|
Assets
(in millions) |
Company |
Industry |
Debtor's Counsel |
Creditors Committee Counsel |
| $103,900 |
WorldCom Inc.
Clinton, Miss. |
Telecommunications |
Weil, Gotshal & Manges |
Akin Gump Strauss Hauer & Feld |
| 61,392 |
Conseco Inc.
Carmel, Ind. |
Insurance |
Kirkland & Ellis |
Fried, Frank, Harris, Shriver & Jacobson |
| 30,185 |
Global Crossing Ltd.
Hamilton, Bermuda |
Telecommunications |
Weil, Gotshal & Manges |
Brown Rudnick Berlack Israels |
| 25,197 |
UAL Corp.
Elk Grove Township, Ill. |
Airlines |
Kirkland & Ellis |
Sonnenschein Nath & Rosenthal |
| 21,500 |
Adelphia Communications Corp.
Coudersport, Penn. |
Telecommunications |
Willkie Farr & Gallagher |
Kasowitz, Benson, Torres & Friedman |
| 14,630 |
Kmart Corp.
Troy, Mich. |
General Merchandise |
Skadden, Arps, Slate, Meagher & Flom |
Otterbourg, Steindler, Houston & Rosen; Winston & Strawn |
| 13,026 |
Intl Group Ltd
New York |
Telecommunications |
Skadden, Arps, Slate, Meagher & Flom |
Cadwalader, Wickersham & Taft; Fried, Frank, Harris, Shriver & Jacobson |
| 7,941 |
US Airways Inc.
Arlington, Va. |
Airlines |
Skadden, Arps, Slate, Meagher & Flom |
Otterbourg, Steindler, Houston & Rosen |
| 7,931 |
XO Communications Inc.
Reston, Va. |
Telecommunications |
Willkie Farr & Gallagher |
Akin Gump Strauss Hauer & Feld |
| 5,992 |
The Williams Communications Group Inc.
Tulsa, Okla. |
Telecommunications |
Jones Day |
Kirkland & Ellis |
| 4,755 |
McLeodUSA Inc.
Cedar Rapids, Iowa |
Telecommunications |
Skadden, Arps, Slate, Meagher & Flom |
Milbank, Tweed, Hadley & McCloy |
| 4,470 |
Budget Group Inc.
Daytona, Fla. |
Automotive Retailing |
Sidley Austin Brown & Wood |
Brown Rudnick Berlack Israels |
| 3,800 |
National Century Financial Enterprises
Dublin, Ohio |
Financial Services |
Jones Day |
Ballard Spahr Andrews & Ingersoll |
| 3,633 |
Asia Global Crossing Ltd.
Hamilton, Bermuda |
Telecommunications |
Kasowitz, Benson, Torres & Friedman |
Bingham McCutchen |
| 3,477 |
FLAG Telecom Holdings Limited
Hamilton, Bermuda |
Telecommunications |
Gibson, Dunn & Crutcher |
Akin Gump Strauss Hauer & Feld |
| 3,347 |
Kaiser Aluminum Corp.
Houston |
Metals and Mining |
Jones Day |
Akin Gump Strauss Hauer & Feld |
| 3,296 |
Covanta Energy Corp.
Fairfield, N.J. |
Utilities |
Cleary, Gottlieb, Steen & Hamilton |
Arnold & Porter |
| 2,994 |
Genuity Inc.
Woburn, Mass. |
Computer and Data Services |
Skadden, Arps, Slate, Meagher & Flom |
Kramer Levin Naftalis & Frankel |
| 2,565 |
National Steel Corp.
Mishawaka, Ind. |
Metals and Mining |
Piper Rudnick |
Reed Smith |
| 2,299 |
Exide Technologies
Princeton, N.J. |
Motor Vehicles and Parts |
Kirkland & Ellis |
Akin Gump Strauss Hauer & Feld |
| 2,004 |
Peregrine Systems Inc.
San Diego |
Computer Software and Services |
Pachulski, Stang, Ziehl, Young, Jones & Weintraub |
Hennigan, Bennett & Dorman |
| 1,890 |
Adelphia Business Solutions Inc.
Coudersport, Pa. |
Telecommunications |
Weil, Gotshal & Manges |
Kramer Levin Naftalis & Frankel |
| Sources: BankruptcyData.com and The American Lawyer research |
| (The American Lawyer, May 2003) |
|
|
