Restructuring professionals in North America were plenty busy in 2023 as workouts in the region – both in and out-of-court – generated 2,413 total advisory mandates, a significant increase compared to 1,395 in 2022. The data below, taken from Debtwire’s Restructuring Database, provides an overview of the top-performing advisors during the year.

Legal Advisors

North American restructurings generated 1,584 legal advisor appointments in 2023 including 1,071 lead counsel mandates and 513 for local/ special counsels.

As was the case in 2022, Gibson Dunn topped the 2023 lead counsel rankings having won 40 mandates. Akin Gump was awarded the second most mandates with 36, while Kirkland & Ellis took third place with 33.

Among local/special counsels, Young Conaway’s 26 mandates put them atop the league table for the second year in a row. Three other firms – Jackson Walker, Potter Anderson and Cole Schotz – also won more than 20 mandates a piece.

Financial Advisors/ Investment Banks

As was the case in the lead and local legal counsel category, the top spot in the 2023 financial advisor and investment bank category saw a repeat champion. FTI Consulting had 56 mandates in 2023, placing the firm well ahead of Houlihan Lokey, which finished second place with 28 mandates. Alvarez & Marsal and Dundon Advisors tied for third place with 26 mandates each.

Restructuring Advisors

AlixPartners (AP Services) and Alvarez Marsal were each appointed as the Chief Restructuring Officer in 10 situations, more than any other firms.

Claims Agent

Stretto topped the claims agent category with 51 engagements, followed by Epiq which had 45.

Debtwire Restructuring Database (Access Required)