Restructuring/Insolvency

Clifford Chance possesses a standout practice advising on sophisticated restructurings in the UK and abroad, and attracts instructions from a range of industry players, with a focus on creditor-side representation. The firm coordinates across its network to provide multidisciplinary and multi-jurisdictional teams where needed. The team is particularly strong when advising on mandates within the retail sector.

"The team at Clifford Chance are in the detail, with a speedy focus on the salient points. The advice is commercially balanced, and the resources are both appropriate and sufficient."

"Clifford Chance works on the most complex and unique restructurings. The team is relentless and systematically able to adapt to every setback."

"Clifford Chance has a strong collaborative culture where all lawyers are technically strong and experienced. They provide clear, thoughtful advice and do not over-hedge."

Clifford Chance advised a group of banks in relation to ASOS's £900 million restructuring.

Philip Hertz is the global head of restructuring and insolvency at Clifford Chance, with enviable experience in complex cross-border matters. He is a popular choice for lender clients, counting leading banks and governmental bodies among his client base. "Philip is a highly regarded restructuring attorney. When Philip speaks, everyone listens. He is incredibly good at bringing partners together." "Philip Hertz is a globally recognised name for insolvency. He adds real weight to arguments and it's important to have him in the room." "Philip is a technically strong and experienced lawyer who provides clients with clear and thoughtful advice. He identifies how to use the law for the benefit of his clients."

David Towers has experience advising on both the creditor and debtor sides of mandates, with particular expertise in the representation of banks and alternative lenders. He co-heads Clifford Chance's South Africa practice and regularly advises clients on deals in Southern Africa. "David is a strong technical lawyer with good commercial awareness and communication skills. He understands the commercial compromises that clients need to make, and his advice reflects that." "David is technically excellent, highly commercial and a real leader in complex restructuring situations." "David does a great job in restructurings and has excellent negotiation skills which help when moving towards a solution that can be acceptable to a large group of stakeholders."

Iain White has a broad practice with experience advising creditors, debtors and officeholders on cross-border restructurings. His work spans a range of sectors including manufacturing, retail and energy. "Iain is an excellent operator,a calming and experienced presence whatever the situation and a general fixer who gets things done.He is strong at breaking down the most difficult of situations." "Iain provides tailored, strategic advice, which he's capable of doing because he draws on many years of experience." "He's able to get to the heart of a matter with incredible alacrity."

John Maclennan is a respected practitioner with expertise in acting for banks, corporates and creditors, bondholders and alternative investors. He is regularly called upon to assist clients with both domestic and cross-border matters. "John is a high-quality technician, combining excellent general restructuring knowledge with deep sector-specific know-how." "John is approachable, respected by peers and responsive. He is a very capable lawyer." "John is an easy communicator and a quality technician. He manages a team well."

Melissa Coakley is respected for her ability to advise on complex cross-border restructurings. She is experienced in acting for both creditors and debtors. "Melissa is an impressive lawyer in the insovlency space. She has good client service. She is knowledgeable, commercial and works hard." "Melissa Coakley is very knowledgeable and understands client needs."