🌧April Suffers No Fools🌧

April was a busy bankruptcy month but something tells us it won’t hold a candle to what’s coming for the industry in May. There were smatterings of small retail filings and a pair of massive oil and gas bankruptcies (Whiting Petroleum Corporation, Diamond Offshore Drilling Inc.). TMT as a category continues to hold steady with telecom set to fill a lot of restructuring firm’s coffers (Frontier Communications Corporation, Speedcast International Limited). The big winners of the month: the District of Delaware, Kirkland & Ellis LLP, A&M and FTI Consulting Inc. (tough call as they both handled mega deals), Evercore Group LLC and Moelis & Company (same), and Prime Clerk LLC which continues to monopolize the biggest deals.