UK

London (Firms)

Restructuring/Insolvency


Due to the number of tables in this section, the editorial is in alphabetical order by firm name.

Restructuring/Insolvency - London (Firms)

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Basic facts about the department
- 5 partners
- 13 other qualified lawyers

What the team is known for Major national player providing an expert, partner-driven service to clients in the distressed space. Highly active on behalf of banking and lender clients in the domestic UK market.

Strengths (Quotes mainly from clients)

"A credible and pragmatic team that provides good coverage on the corporate and lender side." 

Work highlights Acted for the liquidators of Halliwells LLP on claims brought to recover funds from former partnership members and third parties.

Acted for FRP as the administrator of the nine companies forming the Charles Gee Group, a major independent UK hauliers company.

Notable practitioners  

Fraser Ritson works primarily with banks, lenders and insolvency practitioners, and has a great deal of experience in restructurings and insolvencies. He is singled out by his clients as a practitioner who is "always available, and has a huge knowledge of the law."

Alison Goldthorp is a well-established member of the team who advises on the full gamut of issues in the corporate and personal insolvency market. She is a specialist in contentious insolvency litigation.

Daniel Redstone advises lenders and stakeholders, as well as directors of distressed companies. He focuses his time on corporate insolvency issues, both international and domestic. His clients praise his "very clear and efficient" legal advice.

Significant clients Barclays, HSBC, Santander, NAG, KPMG.

Basic facts about the department
- 12 partners
- 10 other qualified lawyers

What the team is known for Pre-eminent for creditor-side representation, with particular skill and experience servicing bondholders, mezzanine lenders and noteholders. A major player in cross-border restructurings, particularly in the Scandinavian markets.

Strengths (Quotes mainly from clients)

"As a team, they are the absolute leaders in bondholder work."

"In addition to being very good lawyers, they are very focused on the transaction and very commercial."

What's new? In October 2014, Akin Gump acquired Bingham McCutchen's restructuring practice.

Work highlights Advised Norsk Tillitsmann as bond trustee on the restructuring of Northland Resources. The project resulted in a new infusion of first lien bonds, worth USD335 million.

Represented the senior debt coordinators on the restructuring of the Paris-based manufacturing group Terreal. This led to a major reduction of the company's debts.

Notable practitioners  

James Roome is widely recognised as a repository of skill and experience in representing bondholders and noteholders, and other creditors. According to one source, "he is just spectacularly good at getting the optimal outcome for his clients." 

James Terry is a highly experienced practitioner, and represents bondholders and noteholders in a range of cross-border restructurings and insolvencies. He is valued by his clients as a proactive adviser who is "very adept at leading negotiations, and good at managing creditor groups."

Liz Osborne is marked out by her clients as "a very, very good lawyer" and a developing star within the team. She works on UK and multinational restructurings, insolvencies and workouts, primarily representing lenders and bondholders.

Barry Russell is an experienced adviser of bondholders, noteholders and other creditors in major European and international workouts and restructurings. He is widely recognised in the London market as "a powerhouse" practitioner for lender representation.

Tom Bannister is recognised for his work in financial restructurings and workouts, both domestically and internationally. He acts for a broad stable of investors.

Basic facts about the department
- 11 partners
- 21 other qualified lawyers

What the team is known for Significant lender-side practice, acting for a number of major banking clients. Notable strength in depth, allowing it to act on some of the most complex and high-value transactions in the market.

Strengths (Quotes mainly from clients)

"They stood out head and shoulders above their competitors in terms of resource, horsepower, manpower and just getting it done." 

"We were very impressed - it was a huge and complex piece of work and we relied heavily on them. It was very intensive, lots of very late nights and weekends, and they showed a huge professionalism."

Work highlights Acted for The Co-operative Group and The Co-operative Bank in a recapitalisation plan, involving a significant debt-for-equity swap and a change of bank control.

Advised the administrators of ITS Tubular, a UK company producing equipment for the oil industry, on the distressed sale of the majority of the group and its assets.

Notable practitioners  

Katrina Buckley is a recognised by all in the market as a "direct and approachable" practitioner and a valuable asset to any team in negotiation. She acts for banks, funds, insolvency practitioners and corporates.

Managing partner of the global restructuring and insolvency group Mark Sterling is a hugely experienced practitioner, praised by his clients for his "innovative thinking." He has acted on many major cross-border restructurings and is reportedly "very alive to looking at the commercial objectives of clients."

Randal Weeks "has an attention to detail that is not readily surpassed by anyone else in the market," according to sources. His work is focused on debt restructurings and debt trading. He acts for a number of banks and borrowers.

Ian Field primarily acts for bondholders, banks and financial institutions in domestic and cross-border insolvencies and restructurings. He is recognised as a practical and pragmatic negotiator who adds clear strategic value for his clients. 

Gordon Stewart is the head of the firm's global restructuring and insolvency group, and is regarded as "a guru" of the restructuring and insolvency world. He recently advised the Pension Protection Fund and UK Coal on safeguarding the group's pension assets.

Earl Griffith is the managing partner of the London restructuring group, and highly regarded in the market as an experienced and proficient operator. He acts for key stakeholders in major domestic and cross-border restructurings and insolvencies.

Tim Crocker is described by his clients as someone who "communicates extremely well" and "is able to take the lead" on a transaction. He acts on non-litigious insolvencies and advises banks, borrowers and insolvency practitioners.

Jennifer Marshall is highly valued as a "very smart, commercial, practical and incredibly professional" adviser who represents clients in major domestic and cross-border insolvencies and restructurings. She led a team negotiating a strategic joint venture relating to claims arising from the Lehman administration.

Significant clients The Co-operative Group, The Co-operative Bank, Credit Suisse, Barclays, Lloyds Banking Group.

Basic facts about the department
- 4 partners
- 14 other qualified lawyers

What the team is known for Maintains an enviably broad practice, servicing an extensive client roster. Acts on major domestic and international restructurings and insolvencies.

Strengths (Quotes mainly from clients)

"As a team, they always produce a strong performance." 

Work highlights Acted for the ad hoc committee of bondholders in the major restructuring of the Co-operative banking group.

Advised the joint administrators of Vostok Energy on strategic issues relating to the company's future. The team was also involved in negotiations surrounding the successful sale of Vostok's oil and gas assets in Russia.

Notable practitioners  

Dan Hamilton specialises in financial restructurings, and has worked extensively on the issues surrounding the proposed solvent consensual restructuring of the Punch Taverns group. He is notably skilled in the handling of leveraged and structured finance restructurings.

Global head of the firm's restructuring and special situations group Giles Boothman is a very experienced figure, and specialises in large-scale restructurings across a wide range of industries. He is recognised by sources as "a very constructive person in negotiation, and a very sensible lawyer."

Simon Baskerville is praised by his clients as "very commercial, and a very strong deal maker." He acts primarily for stakeholders in distressed companies, and also advises insolvency practitioners.

Significant clients RBS, Cerberus, Bank of America Merrill Lynch, Sankaty, Oaktree Capital Management.

Basic facts about the department
- 3 partners
- 12 other qualified lawyers

What the team is known for Regularly mandated on major projects by significant banking clients. An undoubted specialism in real estate issues relating to restructuring and insolvency. Also represents clients drawn from the shipping, leisure and retail sectors.

Strengths (Quotes mainly from clients)

"The team are creative and agile in finding a way to get the job done."

"Their work is always of a very high standard, and their client service is top-notch." 

Work highlights Represented the landlords of a number of properties owned by the retailer Game in a dispute over whether it is a requirement for administrators to pay rents as an expense of administration.

Acted for the Bank of Ireland in a dispute over the 'centre of main interest' of a high-profile Irish bankrupt. The team were successful at trial, as well as at appeal.

Notable practitioners  

David Leibowitz specialises in insolvency litigation, and acts for a broad palette of clients, ranging from major domestic banks to directors and shareholders. He is singled out by sources as "a good strategist and leader, and an excellent lawyer."

Head of the group's restructuring and insolvency team Ben Jones is recognised in the market as "highly competent, unfazed by any challenges and pragmatic."

Significant clients RBS, Lloyds Banking Group, Barclays Bank, Irish Bank Resolution Corporation, Macquarie.

Basic facts about the department
- 5 partners
- 17 other qualified lawyers

What the team is known for Expanded bench with a proficient practice representing creditors in distressed situations. Links to the firm's US offices are efficiently leveraged to provide novel solutions for domestic and international clients.

Strengths (Quotes mainly from clients)

"The team are very thorough, very diligent, and have great bench strength." 

Work highlights Acted for the committee of senior secured noteholders of CEDC International Finance Corporation in the company's novel Chapter 11 restructuring.

Represented the committee of senior secured noteholders in the major restructuring of SEAT Pagine Gialle through the new concordato preventivo procedure.

Notable practitioners  

Yushan Ng is highly praised by both clients and peers as an "outstanding" practitioner, and is singled out as a rising star in the London market. He primarily works with investors in distressed situations, and acts on domestic and international restructurings and insolvencies.

Richard Nevins is a hugely experienced member of the team, who is often approached by clients seeking his "in-depth knowledge of market issues." He is well regarded as a practitioner who is "adept in multiple jurisdictions." He primarily operates on domestic and European financial restructurings.

Holly Neavill specialises in the representation of hedge, private equity and credit funds involved in distressed situations, and has been involved in a number of high-profile insolvencies and restructurings. She is praised by clients and peers alike as a practitioner who facilitates consensus and acts strongly for her clients' interests.

Alexis Kay focuses his efforts on working with distressed bondholders in Europe and the USA, and has a good track record of acting on cross-border restructurings and distressed M&A deals. He is praised by his clients as "very good and very responsive."

Significant clients Centerbridge Partners, Avenue Capital Group, GSO Capital Partners, Oaktree Capital Management, Varde Partners.

Basic facts about the department
- 5 partners
- 15 other qualified lawyers

What the team is known for Formidable practice representing banks and other institutional lenders. Has the capacity to handle major insolvencies and restructurings in the UK and further afield. Works seamlessly with its market-leading capital markets and banking teams to provide a full-service offering to clients.  

Strengths (Quotes mainly from clients)

"Their coverage is fantastic, they are extremely responsive, and they really understand the dynamics of restructuring."

"They do a great job of advising in a practical and constructive way."

"The team is very focused and well organised." 

Work highlights Acted for the ad hoc committee of existing lenders, comprising HSBC, BNP Paribas, Caixabank, Natixis and Bankia, on a significant restructuring of PRISA, as well as the negotiation of a considerable injection of new capital.

Acted for the lending bank, Lloyds Banking Group, on the substantial debt restructuring of the De Vere Group.

Notable practitioners  

Iain White is described by sources as "one of the rising stars of his generation," and as a "very smart" practitioner who is particularly attuned to the realities of the market. He acted on the restructuring of Independent News & Media, including advising on the sale of the group's South African subsidiary and a major debt-for-equity swap.

Philip Hertz is recognised as a team player, and an adviser who will engage creatively with his clients' interests. His analysis and communication skills are highly praised, along with his organisation and experience. One source summed him up as "one of the best practitioners in the restructuring and insolvency market."

Adrian Cohen is highlighted as a practitioner who is particularly "commercially aware" and "very alive to looking at the commercial objectives of his clients." His practice covers all aspects of restructuring and insolvency law, and he was heavily involved in negotiating CVAs in the restructuring of Drydocks World.

David Steinberg is singled out as an adviser who is "always offering solutions" to his clients, and who approaches his cases with good commercial sense. The quality of his work is highly praised by clients and peers, and he has recently advised on the restructuring of two major Greek toll roads.

Significant clients HSBC, Barclays, Citi, RBS, GSO.

Basic facts about the department
- 15 partners
- 28 other qualified lawyers

What the team is known for Well regarded for its skill in handling issues in sectors as varied as property, pensions and energy. Draws on the recognised expertise of other groups in the firm to offer a full service to clients. 

Strengths (Quotes mainly from clients)

"They are clearly experienced in the sector, and take a commercial and pragmatic approach to negotiation." 

"The team are very, very good; very proactive, and they give a good service."

Work highlights Advising OSX Brazil on the financial restructuring of the group in anticipation of it entering into insolvency.

Advised Lloyds, as agent to a bank syndicate, on the hostile enforcement of a significant cross-border security and debt package over an international printing company.

Notable practitioners  

Rita Lowe is the head of the firm's banking and finance team, and was described by one source as "an absolute rock in times of trouble." She acts for a variety of shareholders, investors and purchasers.

Martin Brown specialises in corporate insolvencies and restructurings, and acts for lenders, debtors and other stakeholders. He actively advises on both domestic and international distressed situations, and is well regarded as a proficient practitioner.

David Gibson is highly rated by clients and peers as "a very technical lawyer who is always involved and hands-on." He acts for stakeholders and lenders, alongside his active practice representing insolvency practitioners.

Peter Wiltshire has a broad practice acting in corporate and personal insolvencies. He primarily advises banks and other lenders, and is experienced handling restructuring issues. He is recognised in the market as a "very high-quality and very experienced" practitioner.

Significant clients Lloyds Banking Group, RBS, Bank of Ireland, Clydesdale Bank, Zolfo Cooper.

Basic facts about the department
- 12 partners
- 30 other qualified lawyers

What the team is known for Impressive depth of experience in the restructuring and insolvency world, as well as strong sector expertise in real estate and energy. Singled out as a high-calibre team for handling contentious insolvency issues.

Strengths (Quotes mainly from clients)

"A really high-quality insolvency litigation practice, with lots of experience."

Work highlights Advised Grant Thornton as administrator of the Castlebeck Care Group on the sale of the group's care homes to Danshell, and trading and regulatory issues relating to the administration.

The team acted for Hatfield Colliery, which operates a deep seam coal mine in Doncaster, and later its administrators on its pre-packaged administration sale to an employee benefit trust.

Notable practitioners  

Nigel Barnett is described as "immensely experienced" and a real presence in the restructuring and insolvency market. He specialises in contentious transactional insolvencies and restructurings, a field in which he is "extremely knowledgeable," according to peers. 

Rachel Anthony is a specialist in litigation and dispute resolution, and works on a wide variety of domestic and international insolvency and restructuring projects. She is praised by sources in the market as a "very bright and tenacious" practitioner.

Neil Griffiths is a recognised specialist who focuses on representing clients in contentious and litigious restructurings and insolvencies. Sources praise his strategic sense and advocacy, and characterise him as "a very knowledgeable and very experienced" practitioner.

Significant clients RBS, Barclays Bank, Lloyds Banking Group, PwC, Ernst & Young.

Basic facts about the department
- 11 partners
- 30 other qualified lawyers

What the team is known for Provides a specialist service integrated into the firm's impressive global network. Highlighted for the hands-on approach of the experienced partners in the team.

Strengths (Quotes mainly from clients)

"They are very, very strong in the larger end of mid-market restructurings - head and shoulders above the competition."

"At any point of the day or night, you can get in touch with the team, and they are a pleasure to work with." 

Work highlights Acted for Velti and its administrators on managing the sale, out of UK administration and US Chapter 11, of the group's MMBU global business and assets.

Advised IBRC and the special administrators on loan and security documents relating to a significant IRBC loan book sale.

Notable practitioners  

Paul Fleming advises directors, insolvency practitioners, lenders and investors on domestic and cross-border restructurings and insolvencies. Sources praise the "quiet intensity" with which he approaches matters, as well as his skills in team and project management.

Sarah Coucher is a strong lender-side practitioner, acting for a range of banks, funds, bondholders and noteholders. She is particularly praised by her peers and clients for her appreciation of the realities of cross-border insolvencies and restructurings between the UK and the USA.

Michael Fiddy is particularly adept at handling matters in the distressed real estate and sports sectors, and is widely recognised as a significant figure in the restructuring and insolvency market.

Significant clients Aviva, Blackstone, Cerberus, KPMG, Nationwide.

Basic facts about the department
- 3 partners
- 7 other qualified lawyers

What the team is known for Acts for a broad swathe of major UK banks and lenders, and maintains a formidable presence in high-end domestic restructurings and insolvencies. Also recognised for its contiguous expertise in funds and financial services law.

Work highlights Acted for Silverdell on the significant refinancing of the group's existing facilities, including providing advice on identifying an appropriate investor, and handling the refinancing transaction.

Acted for the liquidators on a dispute over the restructuring of the William Ransom group, involving the sale of two subsidiaries prior to liquidation. The company's creditors are investigating and challenging the restructuring. 

Notable practitioners  

Jamie Leader is described by clients as "very bright, user-friendly and someone who provides excellent support in time-critical situations." He focuses on contentious restructurings and insolvencies, particularly in the financial services sector.

Paul de la Peña is a corporate insolvency and restructuring specialist, primarily acting on non-contentious issues. He is well regarded in the market as a solid practitioner.

Head of the group's finance restructuring group Simon Waller deals in contentious and non-contentious restructurings, primarily on behalf of banks and other institutional lenders. He also provides valuable advice to boards of companies in distressed situations.

Significant clients LBG, HSBC, Barclays, RBS, Bank of Ireland.

Basic facts about the department
- 12 partners
- 30 other qualified lawyers

What the team is known for A top-quality restructuring team, with the skills and capacity to handle the largest and most complex market transactions. Well recognised in the market for its representation of major companies.  

Strengths (Quotes mainly from clients)

"The team really are outstanding: very commercial, very driven and available."

"They are a world-class team, with a deep bench of very able, high-quality people." 

Work highlights Acted for Stemcor in a major restructuring of the company's global business through two innovative schemes of arrangement dealing with English and Singaporean borrowers. 

Advised the government of Trinidad and Tobago on the restructuring of two major life insurance companies.

Notable practitioners  

Ken Baird is sought out in the market for his "very, very wise counsel." He is the head of the London restructuring and insolvency practice, and represents both creditors and debtors in major domestic and international restructurings and insolvencies.

Richard Tett is singled out by his clients as "a thinking man's lawyer, always a good source on a tricky legal issue." He is widely recognised as an experienced practitioner, and has advised the UK's leading developer of retirement homes on a significant recapitalisation programme.

Nick Segal is recognised by both clients and peers as a "veteran" of many top-flight insolvency and restructuring projects, and is particularly well regarded for his understanding of the interrelation between UK and US law. He advised the steering committee of senior lenders in the restructuring of Excel Maritime Carriers.

Ryan Beckwith recently acted on the consensual restructuring of the Waste Management Group, acting for the co-ordinating committee of senior lenders. He is prized by his clients for his "good knowledge of transactions," and "extremely helpful and very commercial" approach.

Sean Lacey is greatly valued by his clients as an adviser who is "really, really commercial." He is a well-respected and highly proactive practitioner who gives a "very clear view" on any issue. He primarily acts for lenders.

Adam Gallagher advises debtors, creditors and other stakeholders in cross-border restructuring projects. He is highly praised by his clients for his "very proactive" approach, and his succinct guidance and leadership on projects.

Neil Golding is an experienced restructuring and insolvency practitioner and a proficient operator in the insurance world. He has acted on a number of major insurance company insolvencies, and primarily represents financial institutions and banks.

Significant clients Blackstone, Deloitte, RBS, Barclays, Davidson Kempner.

Basic facts about the department
- 11 partners
- 25 other qualified lawyers

What the team is known for Recognised strength in litigating contentious insolvency issues, as well as a well-established and proficient transactional offering. Established expertise in financial services, energy and real estate augments its restructuring offering.

Work highlights Advised Card Protection Plan on a transformative scheme of arrangement to enable the company to compensate eligible customers who had bought a range of the company's products.

Acted for Cyprus Popular Bank in the UK, in tandem with the special administration and bailout of the bank in Cyprus. This instruction involved splitting the bank's UK operation into two, and managing the transfer of substantial funds to other Cypriot banks.

Notable practitioners  

Laurence Elliott acts on debt and bond restructurings, as well as acting for insolvency practitioners on a wide range of situations. He recently advised Petroleum Equity on the acquisition of ATP Oil & Gas from its insolvent American parent company.

Kevin Pullen is singled out by sources for his "incisiveness on restructuring law," which inspires confidence in his clients. He is recognised as a practitioner who is willing to "take the weight onto his shoulders" in a transaction. He acts for debtors, creditors and insolvency practitioners in a variety of domestic and international situations.

Significant clients Ernst & Young, CPPL, hibu, Petroleum Equity, BDO.

Basic facts about the department
- 6 partners
- 18 other qualified lawyers

What the team is known for Deep and experienced bench that focuses its energy on servicing creditor clients in domestic and European restructurings and insolvencies. Maintains a particular specialism in the health and real estate sectors.

Strengths (Quotes mainly from clients)

"As a team, they instil confidence in their ability, professionalism and expertise."

"The team are technically excellent: they really cut through the mass of complexity in an issue and pick out the pertinent points."

Work highlights Acted for the Lloyds Banking Group's complex deal team in a distressed acquisition of the accountancy firm RSM Tenon by Baker Tilly.

Notable practitioners  

Stephen Foster is valued by his clients as a practitioner who is "exceptionally good at what he does" and "great at finding solutions to difficult problems." He acts for banks, bondholders and financial institutions, and is highly regarded as an experienced and high-quality practitioner.

Deborah Gregory advises on aspects of corporate restructuring and insolvency, and acts for banks and lenders, distressed companies and insolvency practitioners. Sources praise her quick thinking and legal acumen, as well as recognising her valuable contribution in tense negotiations.

Joe Bannister is described as "very forensic in his approach and analysis" as well as "a very persistent practitioner, who gives first-class advice." He is particularly valued for his input in financial services insolvencies, especially matters with a cross-border flavour. His commercial nous is also very highly valued by his clients.

Paul McLoughlin specialises in advising senior lenders in corporate restructurings, and has wide experience of insolvency, restructuring and banking law. He also acts for insolvency practitioners and borrowers, and represents companies in distressed situations.

Significant clients NAMA, BNP Paribas, Lloyds Banking Group, Standard Chartered Bank, Nortel Pension Fund Trustees.

Basic facts about the department
- 9 partners
- 20 other qualified lawyers

What the team is known for Strong links between the US and UK teams, creating a formidable offering for transatlantic restructuring and insolvency projects. Also well recognised as a leading practice representing investment funds. Provides significant litigation expertise.

Strengths (Quotes mainly from clients)

"A very solid team, and very user-friendly." 

What's new? In 2014, the firm's business restructuring and reorganisation team was significantly strengthened by the arrival of Ben Larkin, formerly of Berwin Leighton Paisner.

Work highlights Acted for Canyon Capital Advisors in a number of significant extensions of the company's senior facility agreement.

Represented the joint liquidators of the Hadar Fund, a Cayman Islands-based investment company holding major assets, as well as providing advice relating to multi-party claims heard in the UK courts.

Notable practitioners  

Ben Larkin is regarded by one commentator as "one of the best" practitioners active in the London market. He is particularly well versed in handling real estate-related restructurings, and acts for clients on a wide range of restructuring and insolvency issues.

Sion Richards specialises in contentious insolvency and restructuring issues, and is praised by sources for his "very strong" expertise in the sphere. He advises extensively on fraud and corruption issues surrounding companies in distressed situations.

Michael Rutstein represents a range of banks, insolvency practitioners and corporate debtors in an array of domestic and cross-border restructurings and insolvencies. He is well regarded for his transactional specialism and collegiate approach.

Significant clients Goldman Sachs, Standard Bank, European Bank for Reconstruction & Redevelopment, Canyon Capital Partners, Krys Global.

Basic facts about the department
- 2 partners
- 4 other qualified lawyers

What the team is known for Strong cross-border transactional offering, as well as an established contentious offering. Acts for a wide range of clients, including investment funds and insolvency practitioners. 

Work highlights Acted on the solvent liquidation and sale of a number of companies related to Play.com, on behalf of the new owners Rakuten UK, in order to effect the transfer of the business from Jersey to England.

Acting for Universal and EMI in their claims for pre-administration supplies of goods and provision of products during the administration of the HMV Group.

Notable practitioners  

Jeremy Goldring specialises in providing advice to companies and stakeholders, leveraging his considerable experience in national and transnational restructurings and insolvencies. He recently acted for Duff & Phelps on the liquidation of a number of funds.

Michael Woollard is described by sources as a practitioner who "gives clear advice on how to manoeuvre, even in a complicated situation." He specialises in handling non-contentious restructurings and insolvencies, primarily in the financial, retail and private equity sectors.

Significant clients KPMG, Deloitte, Ernst & Young, PwC, Duff & Phelps.

Basic facts about the department
- 3 partners
- 4 other qualified lawyers

What the team is known for Provides tactical and strategic representation to a number of high-profile private equity clients. Acts on an impressive volume of bondholder representations. Has taken the lead on some of the most headline-grabbing restructurings of the year. 

Strengths (Quotes mainly from clients)

"If you are looking for a combination of mental dexterity, experience and strategic thinking, they are the team to call."

"The team are very commercial. They have a good feel for the market and are helpful and responsive."

Work highlights Acted for KKR in a major restructuring of the distressed automotive retailer ATU, which involved an exchange of senior secured notes for shares, as well as the negotiation of a new super senior loan facility.

Negotiated and implemented a number of schemes of arrangement on behalf of Monier GmbH designed to extend the group's existing finance facilities. 

Notable practitioners  

Kon Asimacopoulos is rated highly by his clients for his "intellectual horsepower" and his dedication and drive to achieve the best result for his clients. He acts for debtors, insolvency practitioners, investors and stakeholders in a variety of domestic and cross-border restructurings and insolvencies.

Partha Kar is a leading figure in the group's restructuring practice and is well recognised in the market for his intelligent and conciliatory approach to negotiating complex financial restructurings and insolvencies. His practice emphasises creditor-side work and noteholder representation.

Significant clients Oaktree Capital, KKR Asset Management, Goldman Sachs, Centerbridge Partners, GSO Capital Partners.

Basic facts about the department
- 8 partners
- 10 other qualified lawyers

What the team is known for Recognised as a group providing innovative, commercial advice, particularly in situations with US law ramifications. Sophisticated practice consistently handling complex, high-profile cases. Represents the full spectrum of stakeholders, from bondholders to senior creditors, hedge funds and sponsors.  

Strengths (Quotes mainly from clients)

"The team is made up of a set of very professional, knowledgeable individuals." 

Work highlights Represented Hayfin in the provision of a large loan to the ATU Group.

Represented the mezzanine lenders' committee in the restructuring of the Biffa group in negotiating debt-for-equity, debt-for-cash and debt-for-debt settlements.

Notable practitioners  

Global co-chair of the restructuring practice John Houghton is recognised in the market as an experienced and talented practitioner. He provides specialist advice to creditors, sponsors and insolvency companies.

Significant clients Punch Taverns, New World Resources, Goss International, Bramwell Pubs, Biffa.

Basic facts about the department
- 34 partners
- 141 other qualified lawyers

What the team is known for Houses the technical and commercial clout to manage the largest international and domestic restructurings and insolvencies. Provides significant expertise in financial, retail, industrial and infrastructure projects. Noted for its impressive strength in depth.

Strengths (Quotes mainly from clients)

"A high-quality practice with a first-class team; they have a seemingly unlimited quantity of excellent people to draw on!"

"A very good firm with a very effective team." 

Work highlights Represented the ad hoc committee of noteholders of Codere SA in a significant restructuring of the group and its subsidiaries.

Advised the creditors' committee for the partially secured and secured lenders in the multibillion-dollar restructuring of the Dubai Holdings subsidiary Dubai Group.

Notable practitioners  

Tony Bugg is praised for his "gravitas and nous" by clients who also value his ability to handle the most complex cross-border and domestic insolvency issues and restructurings. He recently acted in a successful appeal to the Supreme Court regarding administrators' liabilities under financial support directions.

Richard Bussell acts for investor companies, banks, shareholders and insolvency practitioners in a range of multi-jurisdictional and domestic restructurings and insolvencies. He is rated by his clients as a "very attentive" representative who "understands the technicalities of a case."

Bruce Bell specialises in advising banks, private equity groups and other lenders on restructuring matters, and is recognised as a "quality practitioner" in this sphere. He acted for the directors of Card Protection Plan in implementing a major solvent scheme of arrangement.

Robert Elliott is a highly experienced practitioner who specialises in corporate restructurings. He is the firm's senior partner, and is simply summarised by market sources as "a class act."

Yen Sum is recognised as an "impressive" adviser, particularly valued by her clients for her "very commercial" approach. She primarily advises banks, private equity sponsors and investment funds on restructuring issues.

Rebecca Jarvis is singled out as a practitioner who specialises in providing "strong, proactive common-sense leadership" to banks and other investment clients facing non-contentious restructuring and insolvency issues.

Richard Holden is extolled by his clients as a "very experienced, commercial and calm" figure who is highly focused on achieving the client's commercial goals. He specialises in the handling of major cross-jurisdictional restructurings and insolvencies.

David Ereira is widely recognised in the market as a "standout" member of the restructuring and insolvency team. He acts in major cross-border restructuring and insolvency projects, and has advised on trust issues arising from the Lehman Brothers insolvency.

Significant clients PwC, Royal Bank of Scotland, Cortefiel SA, eircom, AB Bankas Snoras.

Basic facts about the department
- 9 partners
- 17 other qualified lawyers

What the team is known for Acts on contentious and non-contentious insolvencies and restructurings, with particular expertise handling instructions related to the real estate industry. The group is also recognised for its expertise in pension restructurings.

Work highlights Acted for ATP Oil & Gas on the restructuring of the company's upstream oil and gas business, which involved action on a company voluntary arrangement, as well as a sale of shares and related US litigation.

Advised Budapest Airport on the restructuring of its hedging and bank debt, which was held by a syndicate of over 30 lenders.

Notable practitioners  

Devi Shah is the joint head of the firm's restructuring, bankruptcy and insolvency group. She is highly praised by clients and peers as an "exemplary" practitioner, and is active on contentious and transactional restructuring and insolvency issues.

The joint head of the firm's restructuring, bankruptcy and insolvency group Ashley Katz is recognised as "an excellent transactional specialist - bright, user-friendly and utterly straightforward." He advises on restructuring and insolvency matters in a range of industries.

David Allen is the head of the group's London litigation team, and has extensive experience in handling banking and insolvency litigation. He acted for the Vietnam Shipbuilding Industry Group in their recent restructuring.

Ian McDonald primarily acts for banks and other lenders in high-profile, high-value disputes relating to structured finance and breach of duty. He is highly experienced in dispute resolution, as well as enforcement and restitution matters.

Significant clients BDO, Ernst & Young, Great American Group, Deloitte, Ambac.

Basic facts about the department
- 6 partners
- 20 other qualified lawyers

What the team is known for Major national practice, particularly adept at handling real estate issues on behalf of distressed companies. Additionally recognised for its strength in handling pensions issues.

Strengths (Quotes mainly from clients)

"The firm has very strong restructuring, insolvency and litigation capability."

"Real estate-led insolvency work is a niche specialism of the group." 

Work highlights The team advised UK Coal on its second major restructuring project, involving the restructuring of the group as a whole and of a significant pension deficit.

Advising Dunfermline Building Society on the realisation of real estate assets as part of the restructuring of the group.

Notable practitioners  

Head of the restructuring and insolvency team Patricia Godfrey acts for debtor and creditor clients in contentious and non-contentious proceedings. She is experienced in handling schemes of arrangement, restructurings and insolvencies.

Glen Flannery is recognised as a strong practitioner who has a wide experience of handling domestic restructurings and insolvencies. He acts for debtors and lenders, and is valued by his clients for his expertise and his diplomatic approach.

Significant clients UK Coal Operations, Petroplus Marketing AG, KPMG, PwC.

Basic facts about the department
- 7 partners
- 21 other qualified lawyers

What the team is known for Recognised expertise in insolvencies and restructurings related to the real estate and shipping sectors. Acts on major cross-border restructurings and insolvencies, covering contentious and non-contentious issues.

Strengths (Quotes mainly from clients)

"The team puts in a very good performance, and appreciates the complexities of a situation." 

"As a group, they are very technically sound." 

Work highlights Acted on two major infrastructure restructurings in Greece, the Maliakos-Kleidi and the Elefsina-Korinthos-Patras-Pyrgos-Tsakona motorways. The team advised the company on restructuring EUR3.1 billion of debt.

Notable practitioners  

Hamish Anderson primarily represents banks and insolvency practitioners in both corporate and personal insolvency matters. He is recognised as a "super-experienced" practitioner, and has extensively advised the US trustee of Lehman Brothers on international issues arising from the group's insolvency.

Significant clients Aegean Motorway, BNP Paribas, European Investment Bank, KPMG, Royal Bank of Canada.

Basic facts about the department
- 9 partners
- 19 other qualified lawyers

What the team is known for Specialist offering in the technology, real estate and retail sectors, as well as having a niche offering in leisure and media. The experienced and highly regarded team primarily acts for banks and other specialist lenders.

Strengths (Quotes mainly from clients)

"A strong multidisciplinary team which is focused on delivery for its clients." 

Work highlights Acted on behalf of the senior lenders on a project which resulted in the acquisition of 25 Canada Square, London, by AGC Equity Partners.

Acted for the administrators of Folksam International Insurance Company (UK). The team was instrumental in negotiating and gaining approval for a scheme of arrangement.

Notable practitioners  

Alicia Videon is praised by one client as an adviser who "seeks pragmatic solutions" in her work, and is recognised as an excellent deal maker and leader in restructuring and insolvency processes. She primarily represents lenders and syndicates of lenders.

Significant clients Bayerische Landesbank, Kaupthing, Aareal Bank AG, Deutsche Hypothekenbank, Hatfield Phillips International.

Basic facts about the department
- 5 partners
- 10 other qualified lawyers

What the team is known for Established provider of expert advice in debt trading and pensions restructuring. Strong relationships with bank clients. Has carved out a niche as a go-to group for dealing with the insolvencies of professional practices.

Work highlights Provided advice to KPMG on the pre-pack administration and sale of the majority of Cobbetts to DWF, as well as the transfer of all files and client funds.

Acted for the administrators on the trading administration of Portsmouth City Football Club, as well as advising on the eventual sale to the Pompey Supporters Trust.

Notable practitioners  

Nicholas Pike is described by sources as "very approachable and rational," with his clients noting the value of his "practical and pragmatic advice." He primarily acts in an advisory role for a variety of clients in domestic and cross-border restructurings and insolvencies.

Tom Withyman is characterised by market sources as a practitioner who is "exceptionally good at handling highly technical issues," and is highly rated for his client service. His experience and skill are highly sought after by investors, creditors and debtors.

Steven Cottee is well regarded for his expertise in the restructuring and insolvency field, particularly when dealing with the insolvencies of professional practices. His tenacity and work rate are highly praised by his clients, as is his commercial approach to deals.

Richard Williams primarily focuses on restructuring projects, acting for insolvency practitioners, banks, creditors and directors. His clients describe him as "technically very strong, and considered."

Significant clients PwC, Ernst & Young, KPMG, Deloitte, Grant Thornton.

Basic facts about the department
- 4 partners
- 5 other qualified lawyers

What the team is known for Focused offering targeting lenders in the European market. Concentrates on handling transactional issues for clients. Particularly adept and experienced in representing subordinate lenders.

Strengths (Quotes mainly from clients)

"As a team, they are very, very proactive, and have a good collegiate approach." 

Work highlights Advising Goldman Sachs and TPG as major creditors of Ainscough Crane Hire in the £350 million restructuring of its capital structure.

Acted for the Barchester Group on the sale and leaseback of its primary property portfolio, the repayment of a major tranche of secured debt and the refinancing of a secondary portfolio.

Notable practitioners  

James Douglas is singled out by his clients as a good practitioner to turn to for a difficult assignment, and for being "very easy to deal with" and "a good point person." He is an experienced litigator who mainly represents stakeholders and officeholders.

Tony Horspool maintains a broad stable of clients, advising them on a wide variety of restructuring and insolvency issues. He acts on domestic and international projects.

Significant clients Angelo Gordon, Anchorage, Ashmore, Barchester Group, Baupost.

Basic facts about the department
- 5 partners
- 7 other qualified lawyers

What the team is known for Represents a broad client base in major cross-border restructurings and insolvencies. Recognised for its ability to leverage the firm's significant and integrated global presence. Able to represent all types of stakeholders in complex restructuring and insolvency situations.

Strengths (Quotes mainly from clients)

"They are very strong on restructurings. One of the best firms we work with." 

"They have a very impressive group of junior lawyers able to give sound legal and commercial advice."

Work highlights Acted for the joint provisional liquidators of Arcapita Investment Holdings on provisional liquidation proceedings in the Cayman Islands, as well as providing advice on ongoing Chapter 11 issues in the USA.

Acted on behalf of Regus on the financial and corporate restructuring of the MWB Business Exchange Group, and the purchase of the business from Evans Easyspace.

Notable practitioners  

Patrick Corr is the head of the corporate reorganisation and bankruptcy group, and a hugely experienced practitioner. He handles contentious and non-contentious restructurings and insolvencies. He is highly acclaimed by his clients as someone who is "very commercial, very switched-on - he gets deals done quickly."

Significant clients Northwood Acquisitions, Zolfo Cooper, Blackstone Real Estate, Bank of America, Regus.

Basic facts about the department
- 8 partners
- 13 other qualified lawyers

What the team is known for Strong reputation as a versatile practice capable of acting with distinction in all areas of insolvency and restructuring. Particularly noted for its skill in advising distressed lenders, banks and directors.

Work highlights Advising General Healthcare Group, the landlord of the UK's largest private hospital group, on the potential restructuring of its significant debts.

Acting for the company, and subsequently the administrators, of Compact GTL on taking the company into administration, and advising on an exit strategy through a solvent equity deal.

Notable practitioners  

Peter Manning advises clients on all aspects of restructurings and insolvencies, particularly in the representation of banks, insolvency practitioners and lenders in distressed situations. He is recognised in the market as a talented and efficient practitioner.

Alan Gar acts for banks, funds and other investor clients on corporate restructuring and insolvency matters. He is identified as an experienced and efficient operator providing lender-side advice.

Significant clients Deloitte, Avenue Capital, Attestor Capital, Deutsche Bank, Grant Thornton.

Basic facts about the department
- 2 partners
- 6 other qualified lawyers

What the team is known for Experienced and talented bench able to leverage off the firm's impressive global footprint. Recognised for its good track record in financial services restructurings.

Work highlights Acted on the significant out-of-court restructuring of Travelport, including extending the maturity of a major tranche of senior notes, a debt-for-equity exchange, and settling a litigation relating to a previous restructuring.

Acting for Better Place on the winding down of its global operation and its Chapter 15 filing in the USA.

Notable practitioners  

Chris Mallon is the well-respected head of the firm's European corporate restructuring practice, and is well recognised in the market as an experienced and canny practitioner. He has significant experience of acting in multi-jurisdictional restructurings and insolvencies.

Dominic McCahill primarily advises on cross-border corporate restructurings, specialising in the representation of hedge funds, banks and private equity investors. He has advised Grant Thornton on its role in the liquidation of a number of offshore companies involved in Tchenguiz Brothers trusts.

Significant clients Warwick Capital Partners, Kaupthing Bank, Excel Maritime Carriers, Exide Technologies, Seat Pagine Gialle S.p.A.

Basic facts about the department
- 5 partners
- 20 other qualified lawyers

What the team is known for Powerful company-side offering, representing an impressive stable of corporate clients. Provides well-resourced and thorough representation on major deals.

Strengths (Quotes mainly from clients)

"Everything they do is laced with quality." 

"They have a strong reputation for representing borrowers." 

Work highlights Advised the Central Bank of Cyprus on the recapitalisation and restructuring of the Bank of Cyprus and Laiki Bank, through a negotiated agreement with the Eurogroup and IMF.

Advised Technicolour SA on a significant refinancing, which involved the major purchase of Technicolour's outstanding senior debt by Tech Finance & Co.

Notable practitioners

The restructuring and insolvency department is led by co-heads Ian Johnson and Richard De Carle.

Significant clients Allianz Capital Partners, Apollo, Ernst & Young, Fortress Investment Group, HM Treasury.

Basic facts about the department
- 2 partners
- 7 other qualified lawyers

What the team is known for Provides highly specialised advice in relation to insolvency fraud. Also active representing clients in domestic and international restructurings and insolvencies.

Work highlights Acted for the administrator PwC on the administration of Opal, one of the UK's most significant national providers of student accommodation.

Advised RBS and the administrators of Harmony Care Homes on issues regarding the businesses corporate structure in order to transit the group into administration.

Notable practitioners  

Nick Moser "is phenomenally attuned to client service, but also very good tactically and strategically," according to sources. Head of the restructuring and corporate recovery group, he advises on contentious and non-contentious restructurings and insolvencies in a variety of sectors.

Significant clients Santander, RBS, Grant Thornton, NAMA, Chantrey Vellacott.

Basic facts about the department
- 3 partners
- 6 other qualified lawyers

What the team is known for Recognised as a specialist provider of services to insolvency practitioners, and distressed investors and lenders. Additionally provides a solid, technical service in borrower-led restructurings. 

Strengths (Quotes mainly from clients)

"Their advice is always constructive, and can be put to direct use."

Notable practitioners  

Jeremy Walsh is head of the banking and corporate recovery team, and is recognised as a "very commercially minded" adviser who specialises in debt restructurings. He is highly praised by his sources as "top-quality; an extremely good lawyer."

Significant clients KPMG, Zolfo Cooper, Duff & Phelps, FRP Advisory, Bank of England.

Basic facts about the department
- 5 partners
- 16 other qualified lawyers

What the team is known for Strong multi-jurisdictional offering, with the strategic and technical ability to represent UK, European and US clients in major restructurings and insolvencies. Highlighted for its expertise in handling insurance insolvencies.

Strengths (Quotes mainly from clients)

"They bring experience, and are good at putting together a team that suits the circumstances."

What's new? The London restructuring team was augmented by the arrival of the highly experienced Andrew Wilkinson, formerly of Goldman Sachs.

Work highlights Acted for a syndicate of bank lenders on a part-recovery of debt from Al Wadden Hotel, as well as the appointment of receivers for the group's operations in the British Virgin Islands.

Advised a syndicate of banks on the sale of their participations under a loan facility to West Ham Football Club, as part of a broader restructuring of the club's finances.

Notable practitioners  

Adam Plainer is highly praised by his clients for his strategic sense and project management; it is also noted by one interviewee that his "client service is not bettered in the London market." He is an experienced adviser of banks, insolvency practitioners and lenders, and also represents boards of companies.

Alex Wood focuses his work on financial services restructurings and insolvencies, both domestic and cross-border. He recently acted for KPMG in the insolvency of a Barbadian composite insurer.

Paul Bromfield is noted as a "very creative and practical" partner who brings a commercial approach to his work. He has good experience in working with lenders in large domestic and international restructurings and insolvencies.

Mark Lawford specialises in creditor representations, and acts on both domestic and cross-border restructurings and insolvencies. Sources describe him as a practitioner with a "first-class legal brain, and a superb team player."

Significant clients KPMG, Barclays, Lehman Brothers, Lion Capital, Standard Bank.

Basic facts about the department
- 10 partners
- 11 other qualified lawyers

What the team is known for Go-to practice for international restructurings through English schemes of arrangement, due to the experience and skills available in the team. Other areas of strength include debtor and lender-side representation in the European market. 

Strengths (Quotes mainly from clients)

"Their practice is particularly strong in the emerging markets." 

Work highlights Advised Mid-Europa on the restructuring of its subsidiary Magyar through a UK scheme of arrangement. Magyar held significant US law-governed high-yield notes, which were successfully restructured through the scheme.

Acted for Zlomrex, a major manufacturer and distributor of steel in Eastern Europe, on the restructuring of a significant value of high-yield bonds through the use of a UK law scheme of arrangement.

Notable practitioners  

Christian Pilkington heads up the non-contentious financial restructuring and insolvency practice. He is well regarded in the market for his "very proactive" approach to protecting his clients' interests, and is recognised for his skills in implementing UK schemes of arrangement.

The "excellent" Laura Prater acts on a range of national and cross-border insolvencies and restructurings. She advises banks, noteholders, insolvency practitioners and funds.

Significant clients Anchorage, GSO Capital Partners, Morgan Stanley, Zolfo Cooper.

Other Ranked Lawyers 其他上榜律师

Louise Verrill of Brown Rudnick LLP led the team advising the Upper Tier 2 and preference share retail holders of The Co-operative Bank on its recent refinancing. She is recognised in the market as an active and effective practitioner, and is well regarded for her work with bondholders and distressed investors.

John Verrill of Chadbourne & Parke LLP is singled out by sources as "one of the doyens of the restructuring industry" and a "very, very talented practitioner." He acts for creditors and debtors, as well as insolvency practitioners, in a variety of domestic and cross-border restructurings and insolvencies.

Simon Ridpath of Speechly Bircham LLP specialises in personal and corporate insolvency, and primarily acts for insolvency practitioners in administrations, liquidations and receiverships. He is praised by his clients for his "sensible legal advice" as well as his pragmatism and technical acumen.

Stewart Perry of Clyde & Co LLP primarily represents insolvency practitioners and lenders in domestic and international insolvencies. He is highly regarded by both clients and peers as a "very commercial and personable" practitioner and a "terrific lawyer."

Brendan McGeever of Gateley is renowned in the market as a "technically excellent" and highly experienced adviser. He acts for banks, investors and other lenders in corporate restructurings. He also advises insolvency practitioners on formal assignments and issues arising therefrom.

Gregory Campbell of Gibson, Dunn & Crutcher LLP is rated by his clients as a "technical genius" whose approach to instructions is "extremely responsive, and very sensitive to timing." He primarily acts for major funds and investors in significant cross-border restructurings.

Carolyn Jones of Matthew Arnold & Baldwin LLP is highly praised by her clients for "always making herself available immediately when her support and advice are needed." They further remark that her advice is "invariably pragmatic, practical and commercial." She advises on all aspects of corporate and personal insolvency.

Simon Neilson-Clark of McGuireWoods London LLP specialises in representing stakeholders and insolvency practitioners in real estate-related restructurings and insolvencies. He is well regarded as a vastly experienced and "very effective" adviser.

Nick Angel of Milbank, Tweed, Hadley & McCloy LLP is the head of the group's European financial restructuring practice, and is highly regarded in the market for his skill in representing his clients' interests. He acts for a wide variety of clients, primarily in domestic and international restructurings.

Anna Thomander of Milbank, Tweed, Hadley & McCloy LLP works in contentious and non-contentious restructuring and insolvency matters, and primarily advises lenders. She is recognised in the market as a practitioner who "makes a deal easier, and is pleasant and articulate" in her approach to her work.

Keith Bordell of Osborne Clarke is praised by his clients for his solid good sense and calming manner in difficult situations. His approach is characterised as "quick, responsive and knowledgeable." He works with lenders, investors and management in a variety of insolvency and restructuring situations.

Mark Fennessy of Proskauer Rose LLP is the head of the firm's European restructuring group. He is a highly experienced practitioner who is appreciated by his clients for his high-level comprehension of restructuring and insolvency issues. He is recognised as a practitioner who is "always trying to think outside the box."

Charlotte Møller of Reed Smith LLP is seen by one source as a "technically brilliant" practitioner. She is praised as being particularly easy to work with and an intelligent adviser.

Cathryn Williams is the head of Squire Patton Boggs' London restructuring and insolvency practice, and is recognised as an established force in the market. She acts for a broad range of clients in contentious and non-contentious insolvencies, restructurings and asset recovery matters.

Chris Howard of Sullivan & Cromwell LLP is described as "exceptionally hard-working," and "a very technical, very smart and very commercial adviser." He acts for banks and financial sponsors in major domestic and international restructurings, leveraging his deep experience in the market.

Foreign Experts

Foreign Experts are individuals with expertise in a different jurisdiction to the one they are based in. These individuals are particularly highly regarded for international and cross-border work. Usually, they will be identified in the jurisdiction in which they are based and in their country of expertise.

Senior Statesman

A 'Senior Statesman' is a lawyer who no longer works hands-on with the same intensity but who, by virtue of close links with major clients, remains pivotal to the firm’s success.

Eminent Practitioners

'Eminent Practitioners' are highly influential lawyers in a particular practice area who, due to managerial or client relationship commitments, are less active in day-to-day work but remain key players in the team.

Other Noted Practitioners

Other Noted Practitioners are individuals who have not yet been ranked but are seen to be active and accomplished in this area of law.

Other Noted Firms

Other Noted Firms are firms that have not yet been ranked but are seen to be active and accomplished in this area of law.