Thursday, July 1, 2010

Greenberg Traurig's Business Reorganization and Bankruptcy Practice Receives Chapter 11 Reorganization of the Year Award

Greenberg Traurig’s Business Reorganization and Bankruptcy Practice was honored at Global M&A Network’s 2010 Turnaround Atlas Awards with the Chapter 11 Reorganization of the Year Award for deals above $1 billion. The firm received the award in connection with its role in the restructuring of LandSource Communities Development LLC.

New York, NY (Vocus/PRWEB ) July 1, 2010 -- Greenberg Traurig’s Business Reorganization and Bankruptcy Practice was honored at Global M&A Network’s 2010 Turnaround Atlas Awards with the Chapter 11 Reorganization of the Year Award for deals above $1 billion. The firm received the award in connection with its role in the restructuring of LandSource Communities Development LLC.

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Our team worked tirelessly to help our clients achieve a successful result in a short timeframe.
The Turnaround Atlas Awards, presented June 17, 2010, in Chicago, Illinois, honored leaders, professionals, top deals and firms from the restructuring, special situations M&A, and the turnaround communities.

LandSource Communities Development LLC was one of the only major real estate development companies to reorganize and emerge from bankruptcy in the current recession. Over $1.2 billion in debt was restructured and $259 million of new capital was raised in connection with this reorganization. Greenberg Traurig represented Barclays Bank PLC as the plan proponent and administrative agent for LandSource’s $1.2 billion Super-Priority, Debtor-in-Possession, First Lien Credit Agreement and also advised the Steering Committee of Secured Lenders under this Credit Agreement.

“We are honored to be recognized for our work on behalf of Barclays in the LandSource reorganization,” said Bruce R. Zirinsky, Co-Chair of the Business Reorganization and Bankruptcy Practice and lead lawyer for the Greenberg Traurig team. “Our team worked tirelessly to help our clients achieve a successful result in a short timeframe.”

The core team of shareholders who worked on this matter included: Bruce Zirinsky, Nancy Peterman and Nathan Haynes from the Business Reorganization and Bankruptcy Practice; Alan Annex and Amit Mehta from the Corporate and Securities Practice; Sean Bezark from the Real Estate Practice; and Joseph Davis from the Litigation Practice.

About Greenberg Traurig, LLP
Greenberg Traurig, LLP is an international, full-service law firm with approximately 1800 attorneys serving clients from more than 30 offices in the United States, Europe and Asia. In the U.S., the firm has more offices than any other among the Top 10 on The National Law Journal’s 2009 NLJ 250. In the U.K., the firm operates as Greenberg Traurig Maher LLP. Additionally, Greenberg Traurig has strategic alliances with the following independent law firms: Studio Santa Maria in Milan and Rome and W’Law Weber Wicki Partners Ltd. in Z├╝rich. The firm was Chambers and Partners' USA Law Firm of the Year in 2007 and among the Top 3 in the International Law Firm of the Year at the 2009 The Lawyer Awards. For additional information, please visit gtlaw.com.

Contact:   
Beth McCarron
312-476-5012


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