Gibson Dunn's approach to major restructuring and bankruptcy matters is characterized by a commitment to four fundamental principles:

• first, maximizing deleveraging potential and constituency recoveries while minimizing the time and expense associated with the restructuring process;
• second, bringing to bear the best possible combination of restructuring and industry-specific transactional experience, as well as resources from Gibson Dunn's other leading practices, including litigation, intellectual property, corporate finance, tax, employee benefits, environmental and government regulation, as necessary and appropriate;
• third, utilizing our expertise, wherever possible, to building consensus and achieving negotiated solutions; and
• fourth, but most important, maintaining paramount focus on client service and satisfaction.

Gibson Dunn's Business Restructuring and Reorganization Practice is a nationally recognized restructuring group with extensive experience in both domestic and multinational insolvencies. Members of the Practice Group are members of the American College of Bankruptcy Lawyers and the National Bankruptcy Conference and have been listed in the bankruptcy law section of The Best Lawyers in America, The Guide to the World's Leading Insolvency Lawyers, and New York Magazine Superlawyers.

The Restructuring Practice Group regularly represents and counsels, among others, chapter 11 debtors, companies seeking to restructure their obligations out of court or addressing other balance sheet-related issues, and companies evaluating the benefits in corporate, litigation, finance, intellectual property, labor and employment, environmental, mergers and acquisitions, tax and securities law, the Restructuring Practice Group has restructured billions of dollars of debt in out-of-court restructurings as well as in complex chapter 11 cases.

We believe our clients are best served by a creative and comprehensive approach, and we focus on the needs of clients and the best way to achieve their goals. This approach has allowed us to achieve success in a wide variety of in-court and out-of-court scenarios involving debtors, acquirors, targets, creditors and other parties, including the following:

• Developing in-court and out-of-court debt restructurings, including "prepackaged" plans of reorganization negotiated during chapter 11 proceedings and complex out-of-court restructurings accomplished through a wide variety of means;
• Corporate governance issues, including matters related to fiduciary duties and conflicts of interest issues, arising in managing and directing distressed companies, including portfolio companies and closely held corporations;
• Financing for high-risk borrowers, including debtor-in-possession financing arrangements and exit financing; and
• Assisting our clients in acquiring or selling businesses, both in and outside of chapter 11 cases.

The Group's more than 40 restructuring and reorganization lawyers nationwide have participated in many of the most complex insolvency-related proceedings and transactions of the last decade. Through these representations, we have been instrumental in developing sophisticated, innovative strategies that have allowed our clients to achieve their goals. A major strength of the Group is our ability to draw upon the resources and specialized experience and capabilities of lawyers in each of the Firm's practice groups and offices. By combining the collective skills and backgrounds of all of our lawyers, we are able to provide cross-disciplinary and cross-border representation for any restructuring or reorganization situation.