Financial restructuring, corporate
Aronzon, co-chair of the Financial Restructuring Group at Milbank, Tweed, Hadley & McCloy, has been through five economic downturns. That's why Aronzon's practice is a go-to advisory group when companies restructure debt.
"I've been doing this 30-some years and, as a result, we tend to stay busy," he says.
Aronzon took a few years off from Milbank to work at an investment bank, Imperial Capital. But as the recent credit crisis began to impact clients, the law firm came calling.
"I decided to come back on Sept. 15, 2008 - the day Lehman Bros. filed for bankruptcy," he says.
Within a few days, Milbank was hired to represent creditors for the investment bank. Lehman's Chapter 11 bankruptcy involves more than $600 billion in assets and significantly more in liabilities.
"I didn't really come home [from New York] until the first quarter of 2009. It was intense," Aronzon says.
He also represented Station Casinos Inc. in its Chapter 11 bankruptcy involving more than $7 billion in liabilities.
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