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Morris Nichols Business Reorganization & Restructuring Group Wins 2009 Turnaround Atlas Award

Wilmington, DE (July 23, 2009) – Morris Nichols’ Business Reorganization and Restructuring Group has won a Turnaround Atlas Award for its role in the restructuring of Hancock Fabrics, Inc., one of the only national retailers to emerge successfully from bankruptcy as a reorganized entity since enactment of the new bankruptcy amendments in 2005. 

The Business Reorganization and Restructuring Group, considered among the most prolific restructuring legal practices in the country, took home the award for Retail Products & Services Turnaround of the Year.  The Group was also a finalist in three other Turnaround Atlas Awards categories.

“We are very proud to be recognized and honored and express our appreciation for the award as it recognizes a successful case which involved among other things novel issues related to the 2005 bankruptcy amendments,” said practice group leader Robert Dehney.

The Turnaround Atlas Awards are presented annually by Global M&A Network.  The awards honor leaders, professionals, top deals and firms from the distressed, special situations M&A, and the turnaround communities for significant deals and assignments completed in 2008.  Winners were announced during the awards gala gathering on June 22, 2009 at the Hotel Allegro in Chicago.