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Paul, Weiss Adds Restructuring Giant Basta as Bankruptcy Co-Chair

October 25, 2017, 08:00 AM

Paul, Weiss, Rifkind, Wharton & Garrison LLP announced that Paul M. Basta joined the firm as co-chairman of the Bankruptcy & Corporate Reorganization Department, resident in the New York office. Basta advises debtors, creditors and investors in complex restructurings in and out of court.

The Wall Street Journal called Basta "a bankruptcy rainmaker who has worked on some of the biggest corporate reorganizations of the past decade."

Basta has represented debtors and creditors in some of the highest-profile chapter 11 cases of the past two decades. He has also represented private equity clients in connection with their distressed portfolio companies.

Basta’s company-side representations have included A&P Supermarkets, Barneys New York, Caesars Entertainment Operating Co., Charter Communications, Global Crossing, Hawker Beechcraft, Linn Energy, Longview Power, MoneyGram, Reader's Digest, Sabine Oil & Gas and Samson Resources, among many others. Major creditor representations have included creditors of Nextel International, Roust Inc. and Six Flags, among many others.

 “We are thrilled to welcome one of the nation’s most accomplished and respected restructuring lawyers to our firm,” said Paul, Weiss chairman Brad S. Karp. “The addition of Paul enhances the preeminence and breadth of our bankruptcy practice and fits squarely into our strategic plan.”

“We have worked extensively with Paul over the years and admire the quality and depth of his work and his unwavering commitment to clients,” said Alan W. Kornberg, chairman of the Bankruptcy & Corporate Reorganization Department. “Paul’s broad experience advising debtors, creditors and investors complements our team and further strengthens our diverse restructuring practice.”

“I am excited to join Paul, Weiss’s world-class bankruptcy practice,” Mr. Basta said. “I have long admired the firm’s team of professionals, as well as their culture and record of success. It is a perfect fit for me.”

Consistently recognized as a leading bankruptcy lawyer by numerous industry publications over the past 15 years, Basta is a fellow of the American College of Bankruptcy. He received a B.A. from the University of Michigan and a J.D. from George Washington University’s National Law Center, where he was elected to the Order of the Coif. He is admitted to practice in New York.

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