Morris Nichols Recognized at 2015 Turnaround Atlas Awards
Wilmington, DE (June 27, 2015) – The Morris Nichols Business Reorganization & Restructuring Group received a Turnaround Atlas Award trophy for its role as debtor’s counsel in the Overseas Shipholding Group Chapter 11 Plan of Reorganization. The transaction was deemed “Corporate Turnaround of the Year.”
Morris Nichols worked closely with OSG in Chapter 11 proceedings before the U.S. Bankruptcy Court for the District of Delaware. One of the world’s largest oil tanker companies, OSG’s Chapter 11 plan, based on a $1.5 billion rights offering which pays creditors in full, became effective on Aug. 5, 2014.
About Turnaround Atlas Awards
Presented by the Global M&A Network, the annual Turnaround Atlas Awards honor excellence from the restructuring and turnaround communities world-wide. Over the last eight years, winners are selected independently based on the deal/assignment performance criteria/index. The “winner’s circle trophy” was presented at a gala in Chicago, Ill. on Tuesday, June 23.
About Morris, Nichols, Arsht & Tunnell LLP
Morris Nichols combines a broad national practice of corporate, intellectual property, business reorganization and restructuring, commercial law and litigation with a general business, tax, estate planning and real estate practice within the State of Delaware. The firm is regularly involved as lead counsel or co-counsel in matters of national and international significance, as well as those affecting its immediate community. Follow us on LinkedIn or Twitter.