Morrison Foerster Shortlisted for Two Global Restructuring Review Awards

Morrison Foerster has been named to the Global Restructuring Review (GRR) 2026 Awards shortlist in two categories. MoFo is shortlisted for Chapter 11 Firm of the Year, and partner Benjamin Butterfield is shortlisted for the Future Leader Award, which recognizes outstanding restructuring and insolvency professionals early in their careers. Winners will be announced at the GRR Awards ceremony in London on November 4, 2026.

MoFo’s restructuring practice was recognized for its work across a range of Chapter 11 matters during the review period, including:

• Representing the Official Committee of Unsecured Creditors in the Chapter 11 restructuring of Saks Global, one of the year’s largest retail bankruptcies, where the firm negotiated unprecedented protections for unsecured creditors including the full subordination of DIP financing claims to the post-petition claims of the company’s vendors, in connection with the negotiation of the debtors’ approximately $1.24 billion in debtor-in-possession financing. The financing also required the debtors to pay hundreds of millions of dollars to critical vendors within days of entry of the financing order.
• Representing Aleon Metals and its affiliated debtors in a Chapter 11 restructuring involving approximately $403 million in funded debt, securing $187.5 million in debtor-in-possession financing, and guiding the debtors through a competitive sale process and plan confirmation while preserving the potential for future operations at a critical minerals recycling facility.
• Representing the Official Committee of Unsecured Creditors in the Chapter 11 restructuring of Thrasio Holdings, where an investigation launched by the firm led to a $65 million settlement for unsecured creditors after debtors initially proposed a recovery of just $250,000.

Butterfield, a partner in the restructuring practice, was recognized for his work as lead or co-lead counsel across three major Chapter 11 matters this year: the Saks Global restructuring, the Hooters of America restructuring, and the Silvergate Capital liquidation. In Saks Global, he led DIP financing negotiations on behalf of the creditors’ committee and helped identify and negotiate a favorable settlement of valuable claims for the benefit of the plan trust. In Hooters, he led negotiations of the restructuring support agreement and transaction documents for the buyer group’s acquisition of more than 100 restaurants. In Silvergate, he served as a de facto spokesperson for a group of directors and officers, helping secure treatment that effectively provided for payment in full of their indemnification claims.