McDermott Receives Restructuring of the Year Recognition from M&A Advisor
International law firm McDermott Will & Emery has been recognized with M&A Advisor’s Restructuring of the Year ($1B to $5B) award as part of the 15th Annual Turnaround Awards.
McDermott led a multidisciplinary team in representing Quorum Healthcare, one of the largest rural hospital systems in the United States with approximately two dozen hospitals in 14 states, in its pre-packaged plan of reorganization. This representation accounted for 50% of hospitals that filed for bankruptcy in 2020 in the United States.
Led by partners Felicia Gerber Perlman and Brad Giordano, the McDermott team handled restructuring preparation and successful negotiations between Quorum and its various stakeholders, ultimately resulting in a fully consensual prepackaged plan to restructure approximately $1.3 billion of funded debt – making Quorum’s reorganization the largest healthcare restructuring of 2020.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.