Kirkland And Sullivan Advise On Bankruptcy and Restructuring Work
Litigators and corporate lawyers at Am Law 200 firms and boutiques are busy with bankruptcy and restructuring work after the slowing economies. Ally Financial's Residential Capital unit, embattled mortgage insurer PMI, and Delta Petroleum are the two on the financial ropes. Kirkland & Ellis will be advising Ally on restructuring options while PMI has hired Sullivan & Cromwell and Young Conaway Stargatt & Taylor for the same. But this seems nothing in front of the $5.1 billion annual loss borne by the U.S. Postal Service.