Paul Hastings Wins Dual Honors at Turnaround Management Association Awards for FTX and WeWork Restructurings

The Paul Hastings Financial Restructuring Group has been recognized with two prestigious honors from the Turnaround Management Association, underscoring its market-leading position in financial restructuring.

The firm won Mega Company Turnaround/Transaction of the Year for its representation of the official committee of unsecured creditors in the restructuring of FTX, and Large Company Turnaround/Transaction of the Year for its work on behalf of the official committee of unsecured creditors of WeWork.

• FTX (Mega Company) — Led by partners Kris Hansen, Ken Pasquale, Erez Gilad and Gabe Sasson, Paul Hastings represented the official committee of unsecured creditors in the landmark Chapter 11 cases of FTX Trading Ltd. and its affiliates. The restructuring delivered one of the largest creditor recoveries in history following the collapse of the global cryptocurrency exchange.
• WeWork (Large Company) — Led by partners Kris Hansen, Gabe Sasson, Frank Merola and Sayan Bhattacharyya, Paul Hastings represented the official committee of unsecured creditors of WeWork Inc. and its affiliates in their Chapter 11 restructuring. The plan shed billions in debt and stabilized the company’s real estate footprint, positioning the flexible workspace provider for a sustainable path forward.

The annual awards commemorate “the most successful turnarounds and impactful transactions industrywide.”

About Paul Hastings
With widely recognized elite teams across 17 practices, Paul Hastings is a premier law firm with a culture of excellence focused on providing intellectual capital and superior execution globally to the world’s leading investment banks, asset managers and corporations.