July 19, 2022
Development Specialists, Inc. is honored to receive the Chapter 11 Reorganization of the Year (Between $500MM and $1B) award for the Restructuring of Highland Capital Management, L.P. in the M&A Advisor’s 16th Annual Turnaround Awards.
“The successful restructuring of Highland was the result of extraordinary, collaborative work between the turnaround professionals at DSI, our colleagues at Pachulski Stang, Ziehl, and Jones, Highland’s Independent Board of Directors including James P. Seery, Jr., John Dubel, and Russell Nelms, as well as Highland’s Creditor Committee led by Sidley Austin and FTI Consulting. Together, the team was able to stabilize Highland through its Chapter 11 restructuring process in the midst of the COVID pandemic, resolve hundreds of millions of dollars of litigation claims, and formulate a Plan of Reorganization for the benefit of all of Highland’s stakeholders. Highland was a highly complex, multi-billion-dollar international fund manager which required the highest levels of expertise and creative thinking among its professionals and board members. DSI is proud to have worked with the best in the business to achieve this outcome,” says Bradley D. Sharp, President & CEO of DSI.