Our global restructuring group is known worldwide as one of the premier practices focusing on complex financial restructurings, workouts, bankruptcies, insolvencies and other matters involving financially distressed transactions. We represent clients in the United States, the United Kingdom, Continental Europe, the Middle East and Asia, offering a fully integrated approach to international matters. Our offices in New York City and Wilmington, Delaware, are at the doorstep of the two most active bankruptcy courts in the United States. We are committed to maximizing recoveries for our clients through consensus building and/or litigation in the most cost-effective and efficient manner.
Our practice involves the representation of a range of clients spanning financial institutions, creditor committees, indenture trustees, insolvency practitioners, private equity and hedge funds, investment management groups, bond holders, venture capital funds, asset custodians, insurance companies, lessors, trade creditors, and debtors. We regularly draw on the experience of lawyers in our finance practice, as well as lawyers concentrating in the fields of health care, energy, technology, telecommunications, tax, securities, litigation, environmental, and labor law.
Our strong firmwide creditor and investor-side practice includes an emphasis on complex financial instruments and structures that have been impacted by the financial crisis, including SIVs, credit default swaps and other derivatives, financial guarantee insurance and related insolvency issues, and auction rate securities, variable rate demand notes and similar instruments.
Portfolio Media reported that we were the second most frequently hired bankruptcy firm in the United States, "best known for its expertise in steel, energy, health care, telecom, transportation, and retail industries." The Deal ranked us as having one of the top five most active bankruptcy practices in the nation. In 2011, we were recognized with the Global Award for "Pennsylvania Bankruptcy & Restructuring Law Firm of the Year" by Corporate Intl Magazine.
Our capabilities include advising on workouts, debtor-in-possession financings, bankruptcy plans of reorganization, debt-for-equity swaps, EU cross-border insolvency issues, the purchase and sale of distressed debt, preference and fraudulent conveyance avoidance actions, bankruptcy litigation, state and federal receivership actions, distressed bond issues, defense of bankruptcy class actions, insurance company insolvencies, the purchase and sale of troubled companies and assets, directors' and officers' issues, and lender liability litigation. We represent clients involved in a variety of credit structures, including syndicated credit facilities, securitizations, leasing transactions, and derivative contracts.
Our group is backed by the resources of an international law firm with 1,700 lawyers worldwide. We serve as counsel to 67 of the world's 100 largest companies, 24 of the world's 25 largest commercial and savings banks, nine of the world's 10 largest pharmaceutical companies, and seven of the world's 10 largest health care organizations.
A recent survey of in-house counsel by Corporate Counsel Magazine ranked Reed Smith among the top 10 firms that do the best legal work and have the best reputations. An independent study of Fortune 1000 companies by BTI Consulting Group named us to the Client Service "A-Team" for the ninth straight year and identified us as one of the very best at understanding our clients' businesses and at solving their problems. In another recent BTI survey, Reed Smith was ranked first among 441 law firms for building and maintaining client relationships with large-scale clients.
We are recognized in legal and business publications as one of the leading bankruptcy, insolvency and restructuring firms, and our lawyers are consistently recognized as the top in their fields by The Best Lawyers in America, Chambers UK, and Chambers USA. Chambers USA has selected us as a Number 1 tiered bankruptcy firm and praised us for our "healthy profile as a regional, national and even transatlantic player." Our lawyers are active and maintain leadership positions in the Turnaround Management Association, the American Bankruptcy Institute, and the Association of British Recovery Professionals INSOL.