On March 31, 2011, Fried Frank received the IFLR Americas "Restructuring Deal of the Year" award in recognition of its work on the restructuring of Comercial Mexicana, Mexico's third largest supermarket retailer. International Financial Law Review, a leading magazine covering developments in the law of international finance, selects award winners based primarily on legal innovation on complex international matters.
As a result of the team's efforts, Comercial Mexicana successfully completed its financial restructuring in December 2010 through the first "pre-packaged" bankruptcy under Mexico's Concurso Mercantil insolvency law (with a concurrent US chapter 15 bankruptcy case). The successful outcome of this highly complex matter was the culmination of more than 18 months of intensive negotiation.
The Fried Frank team was led by corporate partner Kenneth Rosh (NY) and bankruptcy and restructuring partner Gary Kaplan (NY) and included corporate partners Daniel Bursky (NY) and David Golay (NY), litigation partner David Morris (NY) and tax partner Lisa Levy (NY).