Chicago Partner Named to Turnarounds & Workouts’ 2021 Outstanding Restructuring Lawyers List

January 4, 2022
The competitive list recognized Caroline Reckler — one of only 15 US lawyers named — for her achievements.

Caroline Reckler, Chair of the Finance Department in the Chicago office of Latham & Watkins and member of the firm’s Restructuring & Special Situations Practice, has been named to the Turnarounds & Workouts Outstanding Restructuring Lawyers list for 2021. The annual list features corporate restructuring lawyers in the United States who led major matters in the prior 18 months. 

In their special report, Turnarounds & Workouts highlighted Reckler’s significant matters across industries, including leading Latham teams that represented:

  • Hexion Inc. — a privately held global chemical company — in the restructuring of their US$4 billion debt load 
  • Savers, Inc. — the biggest for-profit thrift-store chain in the US — in connection with its out-of-court restructuring involving approximately US$1 billion of debt in the US and Canada
  • GNC Holdings, Inc. (GNC) — a leading global health and wellness brand — in the sale of company assets and the consensual confirmation of its Chapter 11 plan guiding GNC in restructuring approximately US$903 million of funded debt 
  • Nine Point Energy Holdings (and its subsidiaries) — an independent oil and gas exploration and production company — in its Chapter 11 case to address more than US$260 million in funded debt obligations 
  • Calfrac Well Services Ltd. (and certain affiliates) — a Canadian-based provider of specialized energy services to oil and natural gas producers — in its Chapter 15 proceedings in connection with the company's recapitalization transaction, reducing the company’s total debt by approximately C$576 million and its annualized cash interest payments by as much as C$51 million 

In addition, Reckler was recognized for work representing oil and gas company Alta Mesa Resources in their Chapter 11 bankruptcy cases as well as independent oil and gas exploration and production company Sable Permian Resources in their restructuring. 

Reckler is a nationally recognized bankruptcy lawyer who advises debtors around the world on all aspects of restructuring and special situations. She was elected as a Fellow of the prestigious American College of Bankruptcy; has been named among Chicago’s Notable Women Lawyers by Crain’s Chicago Business and among the Top Women in Dealmaking for her restructuring work by The Deal; and is regularly recognized in leading legal publications, including Chambers USA and The Legal 500.