NYLJ Profile Akin Trio for Innovative Work on PG&E Bankruptcy
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Akin Gump financial restructuring partners David Botter, Abid Qureshi and Michael Stamer have been profiled as part of New York Law Journal’s Innovation Awards.
In the profile, the trio discuss the innovative strategy they developed for their clients in the PG&E bankruptcy, noting that the strategy secured “bankruptcy court authority to propose a competing plan of reorganization for PG&E, with $30 billion in committed financing from Akin Gump’s clients, was unprecedented. That victory ultimately paved the way to a global settlement in the case, bringing a successful conclusion to one of the largest and most complex Chapter 11 proceedings in history.”
The lawyers added that the complexities of their strategies involved financial, legal and political challenges, so the group needed to create a “holistic solution that “checked every box” in order to overcome the significant legal impediments.”
To conclude, the lawyers encourage future generations seeking to advance their own innovations to “[t]ry and try again to achieve your client’s objectives, no matter how difficult it might seem and no matter how much of a deterrent the facts, other stakeholders and the law may present.”
Last year, Botter, Qureshi and Stamer were also spotlighted when the firm’s work on the PG&E bankruptcy was recognized as a standout matter in Financial Times’ North American Innovative Lawyers report (learn more here).
