Milbank grabs Lehman creditor role

Milbank Tweed Hadley & McCloy has landed a role advising the creditors’ committee of Lehman Brothers, which recreates the law firm line-up of the Enron bankruptcy.

Weil Gotshal & Manges is advising on the Lehman chapter 11 filing as it did on Enron, Linklaters is advising on the European end as it did on Enron and Milbank is reprising its Enron role advising the creditors committee.

Milbank’s co-head of restructuring Paul Aronzon is back on the team having just returned to the firm on Monday (15 September 2008) after two years at US investment bank Imperial Capital.

“His timing is just perfect,” said a source at Milbank.

Aronzon was a partner at the firm for 17 years and was co-head of Milbank’s restructuring group before leaving for Imperial Capital in February 2006.

It is understood that most of Milbank’s bankruptcy team is consumed with the matter having won the beauty parade on Monday. The team is being led by Luc Despins and Dennis Dunne.

Quinn Emanuel Urquhart Oliver and Hedges’ New York head of restructuring Susheel Kirpalani was appointed as conflicts counsel. He and Quinn Emanuel’s London office will be working alongside Milbank. Kirplani was previously the youngest ever elected partner at Milbank.

As reported by on Monday, Weil Gotshal & Manges is handling Lehman’s Chapter 11 bankruptcy filing in the USA, led by partner Harvey Miller (15 September).

Linklaters head of restructuring and insolvency Tony Bugg, restructuring partner Richard Holden, and corporate partners Matthew Middleditch and David Ereira are working on the European end with PricewaterhouseCoopers.