NEW YORK, Aug. 8, 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 April 1 and June 30, 2016.

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"Restructuring in the energy space has slowed down a bit from the breakneck pace that we saw in the first half of this year, as oil prices have stabilized a bit," said Jamie Mason, senior editor at The Deal. "However, restructuring professionals agree that the energy sector will still dominate restructurings in the U.S. and that we may see more activity with midstream energy companies in the next six to eight months."

Some highlights from the report:


    --  Lazard Ltd. was the top financial adviser to distressed companies in the
        second quarter, with 32 deals. Houlihan Lokey Inc. was second, with 18
        deals. Moelis & Co. and PJT Partners Inc. tied for third, with 16 deals
        each. Rothschild & Co. ranked fourth with 15 deals. Rounding up the top
        five was Evercore Partners Inc., with 12 deals.


    --  Moelis & Co. LLC was the top financial adviser to creditors, with 18
        deals. PJT Partners Inc. was second, with 10. Houlihan Lokey ranked
        third, with nine deals. Rothschild & Co. ranked fourth, with five deals.
        Ducera Partners LLC ranked fifth, with four deals.


    --  Among law firms, Kirkland & Ellis LLP was the top counsel to distressed
        companies, with 16 deals. Latham & Watkins LLP and Weil, Gotshal &
        Manges LLP tied for second, with eight deals each. Cleary Gottlieb Steen
        & Hamilton LLP and Vinson & Elkins LLP tied for third, with seven deals
        each.


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


    --  FTI Consulting Inc. was the top restructuring advisers to distressed
        companies for the second quarter, with 12 deals. Alvarez & Marsal LLC 
        was ranked second, with eight. Deloitte and PricewaterhouseCoopers LLP
        tied for third, with five deals each. AlixPartners LLP and KPMG tied for
        fourth, with four deals each.

The full report is available online, or learn more about The Deal's Out-of-Court Restructuring League Tables by visiting http://www.thedeal.com/out-of-court/.

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 second quarter of 2016. Minimum requirements for inclusion include: announcement date between April 1 and June 30, 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 is a business unit of TheStreet, Inc. (NASDAQ: TST) and 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.