Founded in 1866, Milbank has grown to 12 offices worldwide. In the United States, the firm has offices in New York, Los Angeles and Washington D.C. It is a market leader in infrastructure project development, project finance and restructuring and insolvency. While the firm has outstanding national restructuring and insolvency practice, it is a market leader in restructuring practice in California. The firm frequently advises clients on novel transactions in its banking practice as well, specifically asset financing with a specialty in the aviation industry.