(New York City, NY, June 15, 2005) – Reed Smith LLP, a top-25 international law firm, has added James C. McCarroll as a partner in the firm’s New York office, in the Corporate Restructuring & Bankruptcy Group of its Business & Regulatory Department.
“Jim adds experience and depth to our growing New York bankruptcy group,” said David Grimes, managing partner of Reed Smith’s New York office. “His experience on many sophisticated and high-end bankruptcies and restructurings over the past seven years will be invaluable as this office expands its local presence in these sectors.”
Mr. McCarroll earned a J.D. from Boston University School of Law in 1998. He was selected for the Pension Benefit Guaranty Corporation’s Honors Attorney Program and served in the Office of the General Counsel from 1998 until joining Kramer Levin Naftalis & Frankel LLP in early 2000.
“Our bankruptcy group represents a number of distressed debt focused investment funds, and Jim’s practice and relationships will help us grow that important aspect of our practice,” said Peter Clark, head of Reed Smith’s firm-wide Corporate Restructuring and Bankruptcy practice. “His steel industry, pension, and labor union experience are particularly attractive in light of the projected upturn in automotive supplier bankruptcy filings and restructurings in the coming year.”
Mr. McCarroll has been the lead associate in his former firm’s representation of a group of bondholders, as well as the indenture trustee for the bonds, in the WCI Steel bankruptcy case in Ohio. He also served as lead associate in his former firm’s representation of a group of subordinated MCI bondholders in connection with their opposition to substantive consolidation in the WorldCom bankruptcy case, which resulted in a substantial recovery for those bondholders. Mr. McCarroll was also the lead associate in his former firm’s representation of the Official Committees of Unsecured Creditors in the Bethlehem Steel and Borden Chemicals & Plastics bankruptcy cases.
“I am enthusiastic about the platform Reed Smith provides for expanding my practice,” said Mr. McCarroll. “I believe my strong interest and record in establishing and protecting the rights of bondholders and other creditors in bankruptcy is an excellent match with Reed Smith’s approach, and its longstanding emphasis on this area of bankruptcy practice.”
Mr. McCarroll was previously a senior associate in the New York office of Kramer Levin Naftalis & Frankel LLP. He is admitted to the state bars of New York and Massachusetts, and has appeared in many federal courts throughout the U.S.
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Reed Smith LLP, a top-25 international law firm with 1,000 lawyers located in offices throughout the United States and Europe, represents Fortune 100 as well as mid-market and emerging companies. Clients include financial services and investment firms, life sciences companies, health care providers, technology companies and entrepreneurs, power generators and suppliers, manufacturers, universities, non-profit organizations, real estate developers, and municipalities throughout the United States and in 40 countries. Reed Smith’s Corporate Restructuring & Bankruptcy Group is known world-wide as one of the premier practices specializing in complex financial restructurings, workouts, bankruptcy cases, and other aspects involving financially distressed transactions. For more information, visit www.reedsmith.com.