DLA Piper receives two Turnaround Atlas Deal of the Year Awards

Global M&A Network has recognized DLA Piper with two Turnaround Atlas Deal of the Year awards, which honor standout transactions in the areas of restructuring, distressed investing, and insolvency.

The firm received the “Out of Court Restructuring of the Year” award for its representation of KBS Real Estate Investment Trust’s US$2 billion restructuring. The restructuring involved 10 separate loan facilities, with the DLA Piper team leading M&A and financing efforts and preserving optionality for a Chapter 11 filing while maintaining one of the nation’s largest Class A office portfolios. The matter was led by Robert Klyman, Global Co-Chair and US Co-Chair, and Partner Oksana Koltko Rosaluk (Chicago), with support from Partners Kira Mineroff (New York), Carrie Hartley, and Robert Bergdolt (both Raleigh), along with Associates David Riley and Riley Sissung (both Los Angeles).

The firm also received the “Pre-Pack Restructuring of the Year” award for its representation of Pennsylvania Real Estate Investment Trust (PREIT Realty) in its financial and corporate restructuring, through which the company reduced approximately US$835 million in debt, extended its senior facility maturities, secured new financing commitments, and emerged as a private entity while maintaining operations for creditors and lenders. The matter was led by Rick Chelsey, Co-US Managing Partner and Global Managing Partner, and Partner Oksana Koltko Rosaluk (Chicago), with support from Partners Shmuel Klahr, Kira Mineroff, Shiukay Hung (all New York), Stacy Osmond (Chicago), Christopher Paci (Atlanta), Christina Houston (Houston), and Witek Jurewicz (Austin).

In addition, DLA Piper was named a finalist for Outstanding Restructuring Law Firm of the Year, a distinction that recognizes the firm’s breadth of work and leadership across complex restructuring matters.