Willkie Honored at Turnaround Atlas Awards

Two corporate restructurings handled by Willkie were honored at the 8th Annual Turnaround Atlas Awards on May 17. Willkie represented Morgan Stanley as lender in the restructuring of Colt Defense, LLC (named “Upper Mid-Market Turnaround of the Year”), as well as in the restructuring of Global Geophysical Services (GGS) (named “Middle Markets Chapter 11 Restructuring of the Year”).

In the Colt transaction, Willkie represented Morgan Stanley in its $90 million exit facility to Colt, the maker of iconic brand hand guns and military weaponry. The matter was handled by partners Leonard Klingbaum, John Longmire and Eugene Chang; counsel Cindy Chernuchin; and associates Phillip Lee, Davina Mansur, Rachel Dooley, Jennifer Hardy, Jennifer Schanes and Thea Rogers.

In the GGS transaction, Willkie represented Morgan Stanley in its $85 exit facility to GGS, which provides seismic data to the oil and gas extraction industry in various countries around the world. The matter was handled by partners Leonard Klingbaum, John Longmire, Eugene Chang and Joshua Deason; counsel Cindy Chernuchin; and associate Phillip Lee.

Sponsored by the Global M&A Network, the Turnaround Atlas Awards honor the “best value-creating transactions, outstanding firms, and dealmakers and leaders.” Winners are selected independently based on performance criteria including restructuring style, pre-/post-workout, survivability and sustainability, operational/client/HR metrics, number of creditors, timeliness, jurisdiction and resourcefulness, among other criteria unique to the award category.