(Bloomberg) -- A group of turnaround lawyers at Jones Day moved to law firm Gibson Dunn & Crutcher LLP to focus on representing lenders in the firm's restructuring group.
The departures include Scott Greenberg, former co-head of Jones Day's business restructuring and reorganization practice in New York, who will serve as co-chair of Gibson's business restructuring and reorganization practice group, according a statement. Partners Michael Cohen and Steve Domanowski are also part of the shuffle.
“The timing is perfect given the volume of work in the pipeline and the amount of distress coming down the pike,” Greenberg said in the statement. A representative from Jones Day didn't provide a comment.
Turnaround advisory firms, investment bankers and law firms have been staffing up since 2016, sometimes raiding each other for talent, in anticipation that the unprecedented credit boom will eventually turn into a bust for over-indebted companies. Jones Day also recently lost its New York restructuring co-head, Sidney Levinson, who left for Debevoise & Plimpton LLP where he will be co-chair of its restructuring group.
Case List
Greenberg helped expand the secured lender practice at Jones Day, representing term lenders to Monitronics International Inc., Crossmark Holdings Inc., Catalina Marketing Corp. and David's Bridal Inc., as well as rue21 Inc.'s bankruptcy.
Domanowksi worked out of Jones Day's Chicago office focused on restructuring as well as banking, finance and securities. He represented American Apparel LLC and Boscov's Department Store Inc. in their Chapter 11 cases, as well as lenders to J. Crew Inc.
Cohen, based in New York, represented the secured lenders to Syncreon Group BV, the first lien and debtor-in-possession lenders to Catalina, and the term loan and DIP lenders to David's Bridal Inc.
Gibson Dunn is a global law firm with more than 1,300 lawyers in 20 offices globally. Jones Day employs over 2,500 lawyers and 950 partners in 43 offices around the world, with its largest office in Washington, according to its website.
--With assistance from Allison McNeely.
To contact the reporter on this story: Katherine Doherty in New York at kdoherty23@bloomberg.net
To contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Dawn McCarty
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