NEW YORK, May 2, 2016 /PRNewswire/ -- The Deal, a business unit of TheStreet Inc. (NASDAQ: TST), announced the results of its exclusive rankings of the top investment banks, law firms and restructuring advisers involved in out-of-court restructurings. Data collected captures advisers to distressed companies with financial restructurings active between Jan. 1 and March 31, 2016.

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"There is a flurry of restructuring activity taking place in the energy industry, especially among oil and gas exploration and production companies, and services companies," said The Deal's senior editor Jamie Mason. "This year restructuring advisers are expecting to continue to be busy with energy restructurings and we may also see more M&A in the restructuring space this year, whether it's two weak companies merging or a healthy one buying a distressed one."

League Table highlights:


    --  Lazard Ltd. and PJT Partners Inc. tied as the top financial adviser to
        distressed companies in the first quarter, with 23 deals each. Moelis &
        Co. LLC was second, with 18 deals. Houlihan Lokey and Rothschild tied
        for third, with 12 deals each. Goldman, Sachs & Co. ranked fourth with
        10 deals.


    --  PJT Partners Inc. was the top financial adviser to creditors, with 12
        deals. Moelis & Co. LLC was second, with seven. Houlihan Lokey ranked
        third, with six deals. Ducera Partners LLC and Rothschild both ranked
        fourth, with four deals each.


    --  Among law firms, Kirkland & Ellis LLP was the top counsel to distressed
        companies, with 18 deals. Cleary Gottlieb Steen & Hamilton LLP, Vinson &
        Elkins LLP and Weil, Gotshal & Manges LLP tied for second, with six
        deals each. Latham & Watkins LLP, Norton Rose Fulbright LLP and Stikeman
        Elliott LLP tied for third, with four deals each.


    --  Latham & Watkins LLP ranked first for the top counsel to creditors, with
        15 deals. Davis Polk & Wardwell LLP ranked second, with nine deals.
        Kirkland & Ellis LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP
        tied for third, with six deals. Akin Gump Strauss Hauer & Feld LLP and
        Cleary Gottlieb Steen & Hamilton LLP tied for fourth, with five deals
        each.


    --  FTI Consulting Inc. was the top restructuring advisers to distressed
        companies for the first quarter, with eight deals. Alvarez & Marsal LLC 
        was ranked second, with seven. AlixPartners LLP ranked third, with six
        deals. PricewaterhouseCoopers LLP was fourth, with five deals.

The report is available online. For more information about The Deal's Out-of-Court Restructuring coverage, go to http://www.thedeal.com/the-deal/out-of-court-restructuring.

About The Deal's Out-of-Court Restructuring League Tables
 The Deal's Out-of-Court Restructuring league tables are based on distressed companies that have announced financial restructurings for the first quarter of 2016. Minimum requirements for inclusion include: announcement date between Jan. 1 and March 31, 2016; at least one (1) piece of debt amount stated (bond, note, loan, credit facility, etc.); credit facility security (secured or unsecured); and name of the distressed company. Roles in the league tables will be: legal advisory, financial advisory and other advisory (including Public Relations or Restructuring Adviser).

About The Deal
 The Deal is a media and technology company providing over 100,000 users with actionable ideas from its two services - The Deal & BoardEx. Law firms, investment banks, private equity firms and hedge funds use The Deal service to find their next deal and BoardEx to connect the dots between their organizations and clients. The Deal has offices in New York, London, Washington, Petaluma, Calif., and Chennai, India. For more information, visit www.thedeal.com.

Contact: Ashley Klepach, 212.321.5048, Ashley Klepach at thestreet.com

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SOURCE TheStreet, Inc.