Stroock & Stroock & Lavan was founded in 1876 and has since grown to a full service firm operating in four cities in the United States. The firm’s headquarters and largest office is in New York, but it also maintains offices in Los Angeles, Miami and Washington DC.
Focusses / specialisms
Nationwide, the firm is best known for its work with registered funds.
The New York office maintains a notable real estate and restructuring and insolvency practice.
The firm’s banking practice is closely linked to the restructuring and insolvency practice. Many of its financing transactions involve acting on the borrower and lender side for DIP and exit financings. It does also represent lenders and borrowers in acquisition financing and refinancing matters.
The derivatives practice advises banking and financial institutions in the commodities industry on financing, especially related to restructuring and insolvency. In investment funds, the team acts for financial institutions in fund formations.
The M&A practice acts on the buy and sell side in public and private acquisitions, mergers and joint ventures. Though it mostly works on strategic acquisitions, it does also participate in private equity acquisitions.
The restructuring and insolvency practice advises creditors and debtors in Chapter 11 proceedings and out of court financial restructuring.
The New York office in particular has a notable real estate practice, where it represents property developers, financiers and REITs in property development, acquisitions, financing and REIT formations.
Key clients
Key clients for the firm include Innovairre Holding, JP Morgan Chase Bank, Payless, Axar Capital Management, Metropolitan Partners, the official committee of unsecured creditors of EP Energy, Merrill Lynch Commodities, Freepoint Commodities, Mirae Asset Securities, Ultimate Sotware, Castleton Commodities, Highlands REIT, Capitol Yards REIT, Samsung SRA Asset Management and Wicker Park Capital Management.
Research period review: 30th edition (2019/2020)
During the research period the banking team mostly represented lenders in DIP financing matters connected with out of court restructurings and Chapter 11 proceedings, with the help of the restructuring and insolvency practice.
Much of the work done within the derivatives practice also related to restructuring and insolvency matters.
The investment funds team advised clients in fund formations of many different types, but saw a lot related to real estate. In M&A, the practice largely worked on strategic acquisitions.
The real estate practice saw a lot of REIT related matters as well as property financing and acquisitions.
Regarding lateral moves the restructuring and insolvency team brought over partners John Storz and Allison Miller from Brown Rudnick and Akin Gump, respectively. Banking and restructuring partner Lucas Charleston left for Akin Gump. Partner David Olstein, who specializes in ERISA investment fund formation joined the firm from Groom Law Group.
The real estate practice in New York brought over three partners: Michael McCarthy, Elsa Ben Shimon and Jennifer Recine. The partners came from Dorsey & Whitney, Duval & Stachenfeld and Kasowitz Benson Torres, respectively.
Deal highlights: 30th edition (2019/2020)
Freeport Commodities $2 billion refinancing
Hellman & Friedman $11 billion acquisition of Ultimate Software
Innovairre $250 million refinancing
JP Morgan Asset Management $1.25 billion financing
PG&E Chapter 11 restructuring
Client feedback: 30th edition (2019/2020)
Private equity
“Practical, commercial minded.”
Restructuring and insolvency
“Very commercial. Extremely responsive. Tremendous attention to detail. Good people.”
