Latham & Watkins has hired a quartet of bankruptcy partners from Weil Gotshal & Manges and Paul Weiss as it expands its restructuring business in New York.

The incoming Weil lawyers include Ray Schrock, who will serve as global chair of its restructuring and special situations practice, alongside Candace Arthur and Alexander Welch. Andrew Parlen rejoins Latham from Paul Weiss and will serve as head of US restructuring. Between them they bring significant experience in out-of-court restructurings, prepackaged and prearranged Chapter 11 reorganisations, exit and debtor-in-possession financings and distressed company acquisitions.

Rich Trobman, chair and managing partner of Latham, said: “They are exceptional lawyers and significant additions to both our New York office and our restructuring and special situations practice. We are committed to building the absolute best restructuring firm in the world. Adding this outstanding group of partners to our practice marks a significant step toward our ambitious goals and, together with Latham’s unmatched global platform, delivers unparalleled value to our clients.”

Schrock joins after a decade at Weil, where he was co-chair of its restructuring department and also a member of its global management committee. He previously spent just short of a decade as a partner at Kirkland & Ellis and just under six years at Jones Day, where he started his career in private practice. At Weil, he worked on high-profile bankruptcy cases including AMC Entertainment, J.Crew and Sears, according to Bloomberg.

Trobman added: “Ray has a well-deserved reputation as one of the foremost bankruptcy and restructuring lawyers in the United States and globally. He is a tremendous leader who will bring extensive experience to the role of global chair of the restructuring and special situations practice.”

Schrock will succeed George Davis in the role, who Trobman praised for propelling Latham’s restructuring practice to new heights during his tenure.

Arthur arrives after 14 years with Weil, where she started her legal career, while Welch leaves Weil after just over eight years. He previously worked at Henry Davis York in Australia.

Parlen, meantime, rejoins Latham after four-and-a-half years at Paul Weiss. He previously spent just under two years at Latham, having spent more than 11 years at O’Melveny & Myers before that, more than six of them as partner.

Marc Jaffe, office managing partner of Latham’s New York office, said: “The arrival of this accomplished group of partners is a significant milestone for our practice in New York, the US and globally. They bring strong relationships with major companies and sponsors, as well as impressive creditor-side expertise that will enhance our practice.”