The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Kirkland & Ellis is set to reap millions of pounds in fees after landing the lead advisory role to United Airlines, which last week became the biggest Chapter 11 filing in airline history
The work-out of the Chicago-based airline that has floundered under $5.2bn (£3.3bn) of debt, is expected to be a drawn out process that experts predict could last for at least two years.
Unlike other airlines that have restructured under Chapter 11, due to opposition from a heavyweight union-ised contingent within the company, United has sold off little or no assets in an attempt to stem its debt.
The complexity of the restructure will mean a fee bonanza for Kirkland & Ellis, which has a longstanding relationship with United.
Lead partner on the deal James Sprayregen, a highly-rated restructuring, workout and bankruptcy specialist has had a good deal of experience in the airline sector. Sprayregen was responsible for steering TWA through Chapter 11 in 2001. TWA eventually sold its assets to American Airlines.
It is believed that United's filing is the eleventh time an airline has been forced into Chapter 11 since the sector was deregulated in 1978.