To fuel the continued growth of its Global Financial Restructuring and Insolvency Practice (FRI), global law firm White & Case LLP has added two new lateral partners in its New York office--Philip Abelson from Proskauer and David Turetsky from Skadden.
The additions increase the number of US-based partners in the Firm's FRI Practice to 12. White & Case's FRI Practice has played prominent roles in many of the largest and most complex restructuring matters of recent years, including Energy Futures Holdings, Samson Resources, Caesars Entertainment, Seadrill, OI S.A., Dynegy Inc., and SunEdison.
Abelson and Turetsky join a practice that has become well known for its willingness to take on tough assignments and its ability to forge creative solutions. White & Case's FRI group regularly represents bondholders, bank lenders, companies, investors and ad hoc and official committees in restructuring matters in the US and around the world.
"Phil and David are very strong and talented lawyers, who have played pivotal roles in numerous debtor and creditor matters over the years," said Thomas Lauria, Global Head of White & Case's FRI Practice. "Their respective experiences and backgrounds make each of them a perfect fit for our diverse restructuring practice. As we continue to expand, our need for additional seasoned team leaders has become acute. Phil and David immediately increase our capacity to meet our clients' distinctive needs."
The addition of Abelson and Turetsky marks the FRI Practice's first foray into the market for lateral partners in more than 10 years. The moves reflect the Firm's commitment to the growth of a practice that has become increasingly important and prominent.
Abelson joins White & Case from Proskauer, where he represented both debtors and creditors in complex, high-profile restructurings. Abelson has appeared on numerous panels dealing with bankruptcy and governance issues, and has been recognized by Law360 and Chambers for his achievements.
"While I thoroughly enjoyed my time at Proskauer, I am eager to join the team at White & Case and contribute my expertise to the active and outstanding restructuring group," said Abelson.
Turetsky joins White & Case from Skadden, where he developed a recognized capability representing and advising distressed companies and other interested parties in chapter 11 cases and out-of-court restructurings and reorganizations. Turetsky has been recognized as a BTI Client Service All-Star, a Top Rated Bankruptcy Attorney by New York Super Lawyers, an Outstanding Young Restructuring Lawyer by Turnarounds & Workouts, and was a recipient of an Emerging Leader Award by The M&A Advisor.
"It was not easy to leave Skadden and I will cherish the nearly 15 years that I spent there, but I am extremely excited to join White & Case's dynamic and talented global restructuring team," said Turetsky. "I look forward to using my experience advising distressed companies and their stakeholders to help White & Case further expand its restructuring practice, including its company-side representations."
"White & Case's restructuring platform, both in the US and globally, is unparalleled, and our clients look to us to provide an unmatched level of service in helping them solve the challenging issues that arise in large distressed and insolvency-related projects," said Scott Greissman, a partner in White & Case's FRI Americas practice. "We are beyond excited that Phil and David are joining, as both will play leading roles in meeting those challenges and ensuring that, as White & Case continues to grow the restructuring practice, our clients receive the counsel they need to achieve their objectives."