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August 12, 2020

Press Release

The Turnaround Management Association has selected a matter in which Stroock partners Erez Gilad and Jayme Goldstein played a key role for its 2020 Large Company Transaction of the Year Award.

This year’s award recognizes the Aceto Corporation transaction, in which a multidisciplinary Stroock team led by its national Financial Restructuring Group represented the Official Committee of Unsecured Creditors in connection with the Company’s chapter 11 cases. Aceto, which develops, markets, sells and distributes pharmaceutical products and specialty performance chemicals, commenced its chapter 11 cases to sell both business lines.

The Stroock team successfully negotiated a highly complex settlement with one of the buyers and facilitated the implementation of a chapter 11 plan that ultimately resulted in payment in full to unsecured noteholders and other general unsecured creditors. 

The Turnaround Management Association is the largest nonprofit serving corporate renewal and restructuring professionals worldwide.

The organization notes that the professionals associated with these awards successfully navigated complex and challenging special situations, resulting in positive outcomes that preserved value, saved jobs, and demonstrated the power of collaborative and creative efforts to achieve a positive end.

Erez and Jayme’s award will be presented at the TMA event titled IMPACT 2020: The TMA Experience, scheduled from Sept. 29 to Oct. 1. 

Stroock provides strategic transactional, regulatory and litigation advice to advance the business objectives of leading financial institutions, multinational corporations and entrepreneurial businesses in the U.S. and globally.  With a rich history dating back 140 years, the firm has offices in New York, Washington, D.C., Los Angeles and Miami.

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