Paul Hastings, a global law firm advising financial institutions, asset managers and corporations, strengthened its position among elite Wall Street firms with the addition of a high-profile team of 18 financial restructuring partners at its New York and Los Angeles offices.

The team is led by Kristopher Hansen, who, along with Jayme Goldstein, is recognized on Chambers Global’s Elite Legal Rankings in bankruptcy/restructuring.

“This is an extraordinary group that stands out among the best in the profession because of its exceptionally creative and client-focused reputation among alternative investment funds, credit funds, direct lenders and other asset managers and investment banks as well as its peers,” Seth Zachary, chairman of Paul Hastings, said. “Over the last 15 years, they have experienced incredible growth with a full-lifecycle client approach covering core bankruptcy and restructuring, distressed M&A/corporate, special situations lending and impact litigation.”

Ranked among the “Elite” in bankruptcy/restructuring by Chambers U.S.A., the group adds significant depth to the firm’s banking and finance practice portfolio to distinguish Paul Hastings as one of the world’s elite law firms that is highly ranked across core finance areas of structured credit, leveraged finance, private credit, capital markets and real estate finance.

“We are incredibly excited to bring our clients, culture and standard of excellence to Paul Hastings, a true powerhouse with a roster of prestigious clients and relationships that trust the firm to handle their most complex matters,” Kris Hansen, co-chair of the financial restructuring practice at Paul Hastings, said. “The synergies between our and Paul Hastings’ core financial practices are amazing and we are thrilled to join forces with the exceptional talent, culture and leadership of the firm to bring high-value services to our clients and the restructuring market.”.

“I’ve known and admired Kris and the team for years because we share cultures that reward excellence, creativity, effort and collaboration,” Luc Despins, current chair of the financial restructuring practice at Paul Hastings, said. “The combination of this new group with our existing broad and strong practice creates a leading platform that includes more than 70 lawyers around the world that will compete at the very top of the restructuring market.”