McDermott Recognized as part of Turnaround & Workouts’ Successful Restructuring of the Year Award

International law firm McDermott Will & Emery is proud to announce that it has been recognized as part of Turnaround & Workouts’ 2021 Successful Restructuring of the Year Award.

Business Restructuring partners Kristin Going and Charles Gibbs acted as lead counsel to CBL & Associates Properties, Inc. (“CBL”) Creditors Committee in the CBL chapter 11 bankruptcy. As one of the largest mall real estate investment trusts in the United States, CBL filed bankruptcy after losing significant revenue due to mall closings as a result of the COVID-19 pandemic. CBL emerged from chapter 11 on November 1, 2021 with a significantly improved capital structure and a lowered cost of capital, having reduced its funded debt and preferred obligations by approximately $1.7 billion.

Turnarounds & Workouts is a news magazine for corporate restructuring professionals such as bankruptcy attorneys, financial advisers, turnaround managers, investment bankers, distressed investors, claims traders, trustees, academics and business journalists. Annually, the publication honors the most Successful Restructurings from the year prior.

McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.