Paul Hastings is growing its finance and restructuring teams with the addition of former Winston & Strawn partner Justin Rawlins, who was chairman of Winston's national restructuring practice, and Philip Ratner, who handles complex financings for credit funds, private equity sponsors and their portfolio companies.

Rawlins will practice out of his new firm's Los Angeles headquarters. Ratner is based in New York.

"In the current economic environment, the need for expertise with restructurings and other distressed transactions is likely to increase," Seth Zachary, chairman of Paul Hastings, said in a statement. "Justin's and Phil's legal and business prowess in tackling this complex area positions Paul Hastings well for achieving the greatest success for our clients."