Partner
Paul, Weiss
A partner in Paul, Weiss’ Restructuring Department, Elizabeth McColm specializes in the areas of corporate restructurings and bankruptcy and has been involved in major restructurings and bankruptcies representing debtors, creditors and acquirers of assets. Elizabeth’s company-side representations include Petra Diamonds, McGraw Hill, Pioneer Energy Services Corp., David’s Bridal, The Bon-Ton Stores and Noranda. Recent creditor-side and investor matters include advising key stakeholders in the restructurings of Virgin Australia Airlines, California Resources Corporation, Country Fresh Holdings, Denbury Resources, Seadrill Limited, FULLBEAUTY Brands, Pacific Drilling, Oro Negro, GenOn, Armstrong Energy, Ultra Petroleum and SquareTwo Financial, among others.
Elizabeth is widely recognized as a leading restructuring practitioner, including by Chambers USA, The Legal 500 and IFLR1000, and she speaks frequently at industry events. She co-authors with fellow Paul, Weiss partner Alan Kornberg, an annual chapter in the International Comparative Legal Guide (ICLG) to Corporate Recovery and Insolvency. She also contributed the “Investment Fund Activity in Chapter 11” chapter in Americas Restructuring Review 2021 published by Global Restructuring Review. Elizabeth’s representations have been recognized by numerous industry publications; International Financial Review’s 2021 Asia-Pacific Awards recognized Virgin Australia Airlines as its “Restructuring Deal of the Year,” the M&A Advisor selected Pacific Drilling as the 2019 “Energy Deal of the Year” and The Bon-Ton Stores as 2018 “Consumer Discretionary Deal of the Year (Over $100MM),” and the Financial Times has “Highly Commended” Elizabeth in its annual report on “U.S. Innovative Lawyers” for her work representing certain CEVA Group lenders in the company’s restructuring.
Elizabeth currently serves on the Bankruptcy and Corporate Reorganization Committee of the New York City Bar Association.
