Cravath’s London Office Moves to 100 Cheapside
Bankruptcy Litigation
Cravath has been at the forefront of restructuring since the early days of the Firm itself, “practicing bankruptcy law for longer than most firms have even existed.” (Law360) Cravath continues to represent clients in restructuring, reorganization and bankruptcy matters that have marked pivotal moments in U.S. and global markets, including the bankruptcy of PG&E and the Republic of Argentina’s historic debt restructuring.
Cravath’s litigators represent companies, creditors and other counterparties facing their most challenging and critical litigation due to bankruptcy or reorganization. We have extensive experience handling matters related to various bankruptcy‑related causes of action, including alleged fraudulent conveyances, alleged breaches of fiduciary duty by board members or officers of distressed companies, disputes arising out of lender claims and alleged breaches of contract. We also have important experience in the fields of municipal and sovereign restructuring.
Our litigators work closely with Cravath’s Financial Restructuring & Reorganization (FR&R) practice to achieve the best results in this specialized area of litigation. Clients benefit from our role as a strategic and commercial partner in the face of issues triggered by financial distress or insolvency, receiving complete representation not only from our dedicated restructuring specialists, but also from the Firm’s premier litigation, board advisory, M&A and finance teams. In addition to our bankruptcy litigation work, Cravath’s substantial experience with reorganization and restructuring matters includes both debtor and creditor side engagements, debtor in possession (DIP) and exit financing, advising independent directors and boards of directors, distressed M&A (in court and out of court), and advising bondholder and other ad hoc creditor groups. We also advise corporate clients on bankruptcy issues in a wide variety of commercial contexts, from how bankruptcy provisions might impact their relationships with distressed commercial counterparties to how best to structure transactions to mitigate bankruptcy risk.
Among other accolades in this area, Cravath has been repeatedly recognized as a “Bankruptcy Practice Group of the Year” by Law360, “Restructuring Advisory Firm of the Year” by The Deal and a leading firm by Chambers USA.
Cravath’s litigators represent companies, creditors and other counterparties facing their most challenging and critical litigation due to bankruptcy or reorganization. We have extensive experience handling matters related to various bankruptcy‑related causes of action, including alleged fraudulent conveyances, alleged breaches of fiduciary duty by board members or officers of distressed companies, disputes arising out of lender claims and alleged breaches of contract. We also have important experience in the fields of municipal and sovereign restructuring.
Our litigators work closely with Cravath’s Financial Restructuring & Reorganization (FR&R) practice to achieve the best results in this specialized area of litigation. Clients benefit from our role as a strategic and commercial partner in the face of issues triggered by financial distress or insolvency, receiving complete representation not only from our dedicated restructuring specialists, but also from the Firm’s premier litigation, board advisory, M&A and finance teams. In addition to our bankruptcy litigation work, Cravath’s substantial experience with reorganization and restructuring matters includes both debtor and creditor side engagements, debtor in possession (DIP) and exit financing, advising independent directors and boards of directors, distressed M&A (in court and out of court), and advising bondholder and other ad hoc creditor groups. We also advise corporate clients on bankruptcy issues in a wide variety of commercial contexts, from how bankruptcy provisions might impact their relationships with distressed commercial counterparties to how best to structure transactions to mitigate bankruptcy risk.
Among other accolades in this area, Cravath has been repeatedly recognized as a “Bankruptcy Practice Group of the Year” by Law360, “Restructuring Advisory Firm of the Year” by The Deal and a leading firm by Chambers USA.
Deals & Cases
November 27, 2023
PG&E Secures California Supreme Court Victory Shielding Company from Liability for Public Safety Power Shutoffs
On November 20, 2023, the California Supreme Court held that Cravath client PG&E, the country’s largest utility, cannot be sued for losses incurred by customers during public safety power shutoffs that complied with the guidelines set forth by its regulator, the California Public Utilities Commission (“PUC”). In a unanimous decision, the Court held that such claims are barred because their adjudication would interfere with the PUC’s comprehensive supervision and regulation of safety shutoffs.
Activities
March 25, 2025
Cravath Partners Featured by Crain’s as 2025 “Notable Litigators and Trial Attorneys”
Cravath partners Gary A. Bornstein and Kevin J. Orsini were named to Crain’s New York Business’s list of “Notable Litigators and Trial Attorneys,” published on March 24, 2025. The list honors “a talented cohort” of litigators and trial attorneys who are “shaping precedent and advocating for their clients across industries and issues.”
Activities
February 24, 2025
Law360 Names Cravath a 2024 “Energy Practice Group of the Year”
On February 13, 2025, Cravath was featured by Law360 as an “Energy Practice Group of the Year.” The profile highlighted the Firm’s “groundbreaking legal wins” for prominent companies in the energy sector, including its representation of The Williams Companies, Inc. in its Delaware Supreme Court victory affirming a trial win with $600 million judgment and PG&E in a victory before the California Supreme Court shielding the company from liability for public safety power shutoffs. The profile also recognized Cravath’s consistent work on multibillion‑dollar M&A and project finance deals across the sector, including the Firm’s representation of Brookfield Renewable in its and Cameco’s $7.875 billion acquisition of Westinghouse and its $2.8 billion acquisition of Duke Energy Renewables.
Publications
November 05, 2024
Cravath Publishes Finance & Capital Markets Quarterly Review for Q3 2024
On November 5, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the third quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as a variety of SEC rulemaking, comment and enforcement updates.
Activities
September 06, 2024
Cravath Named 2024 Litigation Department of the Year by New York Law Journal
On September 5, 2024, Cravath was named the recipient of the New York Law Journal’s 2024 “Litigation Department of the Year” award in the General Litigation category, the publication’s highest firmwide honor for litigation practice. The Firm was honored at the New York Legal Awards for a period that saw it earn numerous major successes on behalf of clients across industries, including Epic Games in an antitrust trial victory against Google, Robinhood in the sprawling and high-profile “meme stock” litigation and PG&E in its successful defense against a putative class action involving wins in multiple courts.
Publications
August 06, 2024
Cravath Publishes Finance & Capital Markets Quarterly Review for Q2 2024
On August 1, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the second quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as SEC rulemaking and regulatory updates.
Deals & Cases
November 27, 2023
PG&E Secures California Supreme Court Victory Shielding Company from Liability for Public Safety Power Shutoffs
On November 20, 2023, the California Supreme Court held that Cravath client PG&E, the country’s largest utility, cannot be sued for losses incurred by customers during public safety power shutoffs that complied with the guidelines set forth by its regulator, the California Public Utilities Commission (“PUC”). In a unanimous decision, the Court held that such claims are barred because their adjudication would interfere with the PUC’s comprehensive supervision and regulation of safety shutoffs.
Activities
March 25, 2025
Cravath Partners Featured by Crain’s as 2025 “Notable Litigators and Trial Attorneys”
Cravath partners Gary A. Bornstein and Kevin J. Orsini were named to Crain’s New York Business’s list of “Notable Litigators and Trial Attorneys,” published on March 24, 2025. The list honors “a talented cohort” of litigators and trial attorneys who are “shaping precedent and advocating for their clients across industries and issues.”
Activities
February 24, 2025
Law360 Names Cravath a 2024 “Energy Practice Group of the Year”
On February 13, 2025, Cravath was featured by Law360 as an “Energy Practice Group of the Year.” The profile highlighted the Firm’s “groundbreaking legal wins” for prominent companies in the energy sector, including its representation of The Williams Companies, Inc. in its Delaware Supreme Court victory affirming a trial win with $600 million judgment and PG&E in a victory before the California Supreme Court shielding the company from liability for public safety power shutoffs. The profile also recognized Cravath’s consistent work on multibillion‑dollar M&A and project finance deals across the sector, including the Firm’s representation of Brookfield Renewable in its and Cameco’s $7.875 billion acquisition of Westinghouse and its $2.8 billion acquisition of Duke Energy Renewables.
Publications
November 05, 2024
Cravath Publishes Finance & Capital Markets Quarterly Review for Q3 2024
On November 5, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the third quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as a variety of SEC rulemaking, comment and enforcement updates.
Activities
September 06, 2024
Cravath Named 2024 Litigation Department of the Year by New York Law Journal
On September 5, 2024, Cravath was named the recipient of the New York Law Journal’s 2024 “Litigation Department of the Year” award in the General Litigation category, the publication’s highest firmwide honor for litigation practice. The Firm was honored at the New York Legal Awards for a period that saw it earn numerous major successes on behalf of clients across industries, including Epic Games in an antitrust trial victory against Google, Robinhood in the sprawling and high-profile “meme stock” litigation and PG&E in its successful defense against a putative class action involving wins in multiple courts.
Publications
August 06, 2024
Cravath Publishes Finance & Capital Markets Quarterly Review for Q2 2024
On August 1, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the second quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as SEC rulemaking and regulatory updates.
Explore
Cravath Bicentennial
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
Attorney Advertising. ©2025 Cravath, Swaine & Moore LLP.