Kirkland Lawyer Joins Simpson Thacher Amid Debt Restructuring Conflicts

David Nemecek's move signals growing tensions in the corporate restructuring world.

Published on Feb. 23, 2026

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The recent move of David Nemecek from Kirkland & Ellis to Simpson Thacher & Bartlett highlights a shift in the corporate restructuring landscape. Nemecek's departure was spurred by friction between Kirkland's aggressive restructuring tactics, which pitted creditors against each other, and the firm's major asset management clients who were unhappy with these practices.

Why it matters

Nemecek's departure illustrates a growing tension within the financial world, where law firms are increasingly willing to engage in aggressive tactics that can directly antagonize key clients. This creates uncertainty for private equity firms heavily invested in leveraged loans and distressed debt.

The details

Nemecek specialized in restructurings where one group of claimants sought to take proceeds away from similarly situated investors, a practice known as 'creditor-on-creditor violence.' This approach first surfaced prominently in a lawsuit brought by Kirkland client Optimum Communications against Apollo, Ares, and Oaktree, alleging antitrust violations stemming from a cooperation pact among the debt holders. Several asset managers voiced concerns to Kirkland management, particularly given the substantial fees they paid the firm for other services.

  • In November, Kirkland client Optimum Communications filed a lawsuit against Apollo, Ares, and Oaktree.
  • Kirkland ultimately resigned as transaction counsel to Optimum.

The players

David Nemecek

A lawyer who specialized in restructurings at Kirkland & Ellis and has now joined Simpson Thacher & Bartlett.

Kirkland & Ellis

A law firm that employed Nemecek and was known for its aggressive restructuring tactics, which caused friction with its major asset management clients.

Simpson Thacher & Bartlett

A law firm that has hired Nemecek to bolster its corporate restructuring group and capitalize on the growing demand for specialists in complex, adversarial debt situations.

Optimum Communications

A Kirkland client that filed a lawsuit against Apollo, Ares, and Oaktree, alleging antitrust violations stemming from a cooperation pact among the debt holders.

Apollo, Ares, and Oaktree

Debt holders that were named in the lawsuit filed by Optimum Communications against Kirkland client.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

The takeaway

This case highlights the growing tensions within the financial world, where law firms are increasingly willing to engage in aggressive tactics that can directly antagonize key clients. This creates uncertainty for private equity firms heavily invested in leveraged loans and distressed debt, and suggests a future where restructuring lawyers must navigate complex, adversarial situations between powerful financial players.