Page 96 - NYLJ Professional Excellence 2021

INNOVATION AWARDS

documented reports supported by data, What is the best advice for young- understand, one’s ideas on technol-
was successful in changing lawyers’ er attorneys looking to advance ogy. Join forces with like minds, try
mindsets about technology. Demonstrat- their own innovative ideas or different angles, and speak with oth-
ing to attorneys that the use of technol- visions? Open your eyes, be willing ers who have the resources and con-
ogy can reduce costs, minimize risk and to take some risk and be creative. nections to move technological ideas
increase profits helped to convince them Young lawyers look at problems dif- forward.
of the benefits of technology. With law- ferently than more seasoned lawyers, Participating in programs like the
yers, you must repeat yourself over and and a young lawyer should not be Innovation Tournament is a great way
over again, and attorneys will ultimately discouraged if a more senior lawyer to meet people who can help bring inno-
listen and follow well-supported ideas. does not fully appreciate, let alone vative ideas to market.

you overcome them? The impediments
to our strategy were financial, legal and
political.
On the financial side, we knew that
any alternative plan construct would
only have traction if it had truly com-
mitted financing. Our client group
was ultimately prepared to commit
an astounding $30 billion in financing,
without which our construct would
have gone nowhere. With the financing
in place, we were still faced with the
substantial hurdle of the debtor having
the exclusive right to propose a plan,
David Botter, Abid Qureshi and Michael Stamer and very long odds to overcome that
obstacle.
PARTNERS AT AKIN GUMP STRAUSS HAUER & FELD Finally, we recognized that to maxi-
mize our likelihood of success we
needed the support of the constituency
Q&A What are some of your clients, was unprecedented. That vic- that was the very reason PG&E was in
tory ultimately paved the way to a
Chapter 11—the fire victims. We also
proudest achievements
from the past year? PG&E’s emergence global settlement in the case, bringing needed to ensure that the Governor’s
from bankruptcy, and the enormous a successful conclusion to one of the Office did not oppose a noteholder-
success that represented for Akin largest and most complex Chapter 11 sponsored Plan.
Gump’s clients is, without a doubt, proceedings in history. It is incredibly In short, we needed a holistic solu-
the proudest achievement of the Akin gratifying to see our clients benefit from tion that “checked every box” in order
to overcome the significant legal imped-
iments.
TRY AND TRY AGAIN TO ACHIEVE YOUR CLIENT’S OBJECTIVES,
NO MATTER HOW DIFFICULT IT MIGHT SEEM AND NO MATTER What is the best advice for younger
HOW MUCH OF A DETERRENT THE FACTS, OTHER STAKEHOLDERS attorneys looking to advance their
own innovative ideas or visions? Do
AND THE LAW MAY PRESENT.
not be deterred by what may seem
like an insurmountable challenge.
Gump team from the past year. Akin a complex strategy that we success- Try and try again to achieve your cli-
Gump’s innovative strategy in secur- fully pursued together, against very ent’s objectives, no matter how dif-
ing bankruptcy court authority to long odds. ficult it might seem and no matter
propose a competing plan of reorga- how much of a deterrent the facts,
nization for PG&E, with $30 billion in What, if any, obstacles stood in the other stakeholders and the law may
committed financing from Akin Gump’s way of your innovation, and how did present.

94 October 2021 | Photos: Akin Gump