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The winners of our the Bankruptcy Data Industry Best rankings for 2018 received their awards last week at the American Bankruptcy Institute's annual meeting in DC. In a ceremony during the Friday Luncheon, New Generation Research CEO James Hammond revealed the winners in the for categories tracked: Investment Bank, Law Firm, Financial Advisory, and Claims Agent.
Claiming the prize for Best Law Firm was Michael Nestor, Vice Chairman and Partner of Young Conaway. He was joined by Evan Blum, Managing Director of Alvarez & Marsal, and Michael Blaustein, Senior Managing Director and Co-President of Prime Clerk. Alvarez & Marsal and Prime Clerk were, respectively, Best Financial Adivsor and Best Claims Agent. (the winner of Best Investment Bank was Houlihan Lokey.)
From left to right, NGR CEO James Hammond, Evan Blum of Alvarez & Marsal, Michael Nestor of Young Conaway, Howard Blaustein of Prime Clerk, NGR COO Ben Schlafman, and NGR Head of Research Nick Montgomery.
This is the second year for BankruptcyData’s Industry Best Awards. Award criteria are primarily objective and reflect the will of the market, based on metrics and statistics from 2018, sourced and collected by the analysts at BankruptcyData.
Relative to last year, there are names both familiar and new atop our league tables. We congratulate all of the finalists but reserve special kudos for the winners in each category. They have shown special perseverance in a year that failed to deliver the boon many had predicted in restructuring activity. While the pace and volume are greater than 2017, it is still low by historical standards.
The winners hustled the most, and reaped commensurate reward. Their momentum may serve them in good stead. With corporate debt piling up to record levels, there is justified anticipation of increased industry activity on the horizon
As a publisher of data, information and intelligence for over 29 years, NGR’s Bankruptcy Data is the information resource of record to the trade. People sometimes ask why it is important to single out the firms with the most visible and sizable market activity….in a word, why BankruptcyData’s Industry Best Awards?
Industry activity may still be far away from the highs following 2008, but our long period of economic recovery, during which low interest rates have abounded and lending practices have been relaxed, will sooner or later be followed by a period of adjustment.
The Goldilocks scenario will see increased restructuring activity in the larger context of general expansion in the economy. A pessimistic scenario posits a period of economic contraction in addition to an increase in trouble for businesses. In either scenario, people will be looking for support and advice from the best professional they can afford.
BankruptcyData’s Industry Best Awards provide a yardstick for this selection.
The Bankruptcy Data Industry Best Awards are traditionally announced at the ABI Annual meeting in the Spring of each year. Derived from data collected by NGR's Bankruptcy Data analysts, the full league tables are available on BankruptcyData.com, as well as in the 2019 edition Bankruptcy Data Yearbook and Almanac.
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