Dentons Wins Turnaround of the Year (Small Middle Market) for Powin Chapter 11

Global M&A Network awarded Dentons US with Turnaround of the Year (Small Middle Market) at the Turnaround Atlas Awards, recognizing Dentons' accomplishments as restructuring counsel to Powin LLC.

Powin LLC−formerly a leading US battery energy storage systems provider−and its affiliates filed for Chapter 11 protection in June 2025, amid escalating tariffs and market volatility tied to its reliance on lithium iron phosphate (LFP) battery cells sourced from China. Dentons guided the Powin through a complex, cross-border restructuring during a period of significant global supply-chain disruption.

Despite entering Chapter 11 with minimal liquidity and significant stakeholder distrust, Dentons worked closely with newly appointed independent fiduciaries to stabilize the business. The Dentons' team and Powin's other advisors convened a customer summit with more than 100 participants, launched a new customer program to maintain essential services, and built a data room to support a prompt asset sale process. After preserving the business through that sale, Dentons collaborated with the company's fiduciaries and advisors to creditor constituencies to develop a joint plan, which was confirmed and consummated in less than six months from the Chapter 11 filing. At the confirmation hearing, the bankruptcy judge described the case as a "model" reorganization.

The Dentons team was led by partners Van C. Durrer II, Tania M. Moyron, and John D. Beck, with support from Geoffrey Miller, Lauren Macksoud, Casey Doherty, and others. Partner R. Matthew Garms supported the team on the multiple sales, while counsel Nick Janda advised on intellectual property matters.

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