Top US firms in driving seat on GM bankruptcy
A quartet of US firms are advising General Motors on what could be the biggest bankruptcy filing in US history, reports The Am Law Daily.Weil Gotshal & Manges business finance and restructuring partner Stephen Karotkin is heading the firm's team advising GM on negotiations with lenders, union members and the US Government.Meanwhile, Dewey & LeBoeuf business solutions and governance practice leader Martin Bienenstock is advising GM on aspects of the automaker's proposed Section 363 sale in the bankruptcy court. The Dewey team includes M&A partner Gary Apfel in Los Angeles and bankruptcy and restructuring partner David Cleary in Chicago.
May 26, 2009 at 09:48 AM
2 minute read
A quartet of US firms are advising General Motors on what could be the biggest bankruptcy filing in US history, reports The Am Law Daily.
Weil Gotshal & Manges business finance and restructuring partner Stephen Karotkin is heading the firm's team advising GM on negotiations with lenders, union members and the US Government.
Meanwhile, Dewey & LeBoeuf business solutions and governance practice leader Martin Bienenstock is advising GM on aspects of the automaker's proposed Section 363 sale in the bankruptcy court. The Dewey team includes M&A partner Gary Apfel in Los Angeles and bankruptcy and restructuring partner David Cleary in Chicago.
GM also is being advised by corporate/M&A partners Joseph Gromacki and Michael Wolf from Jenner & Block in Chicago and bankruptcy and reorganisation chair Robert Weiss from Detroit firm Honigman Miller Schwartz and Cohn.
Gromacki chairs Jenner's corporate practice and, in recent years, has advised the company on deals and other high-profile engagements worth more than $13bn (£8.2bn).
Weiss is Honigman's liaison partner with GM, leading a team that represents the auto giant and its North American affiliates. Weiss also advises GM on an exclusive basis in relation to the many financially troubled vendors that supply the company with auto parts.
As with Chrysler's Chapter 11 proceedings, Cadwalader Wickersham & Taft financial restructuring co-chair John Rapisardi is lead counsel for the US Treasury Department, alongside Ronald Hopkinson, the head of Cadwalader's private equity group.
The Am Law Daily is the website of The American Lawyer, Legal Week's US sister title.
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