Restructuring/Insolvency | Europe

Clifford Chance boasts a market-leading pan-European practice with strong teams in a number of jurisdictions including the Netherlands, Spain, Germany and the UK. The law firm handles both contentious and non-contentious mandates. It acts for large syndicates of lenders on significant multi-jurisdictional restructurings and protection of creditor claims. The lawyers also act for debtors on both domestic and international restructuring and insolvency matters. Clifford Chance offers further notable experience advising clients on insolvency litigation, as well as handling distressed M&A and loan agreements. The firm's impressive client roster includes banks, large corporates and governments.

Freshfields has an impressive pan-European offering, with leading practices in the UK, Germany and Austria. The law firm acts on the company side in high-yield restructuring matters, and also regularly acts for banks and funds. It has further experience advising insolvency practitioners and has capabilities in insolvency litigation. Freshfields utilises its expansive network to advise on cross-border mandates in the IT, healthcare and manufacturing sectors. It is further active in the retail and aviation industries, frequently assisting companies impacted by the COVID-19 pandemic with restructurings.

Linklaters has an excellent reputation for its representation of both creditors and debtors in a broad range of high-profile matters handled by distinguished departments in the UK, Spain, Italy, Portugal and Germany. The lawyers additionally represent administrators and liquidators in high-profile insolvency litigation cases. The firm boasts longstanding experience advising financial institutions, boosted by strong expertise in financial regulation. The retail, natural resources and finance sectors are all areas of expertise.

The firm has impressive offerings across the UK, the Netherlands, Spain and Germany, as well as a strong offering in CEE and Italy. The lawyers advise on the full spectrum of matters, with extensive expertise in insolvency-related litigation and distressed M&A, as well as Chapter 11 reorganisations. The firm boasts a particularly strong creditor-side practice and is a popular choice among banks. It also houses notable debtor-side capabilities and has expertise in enforcement plans. On 1st May 2024, Allen & Overy and Shearman & Sterling merged to form A&O Shearman.

Latham & Watkins has highly regarded teams in the UK and Germany, alongside a growing presence in France and Spain. The law firm is recognised for its expertise in leveraged finance and high-yield bond restructuring. It is particularly well known for its creditor-side practice and maintains close relationships with alternative lenders. Its expertise includes special situations work, and it is also experienced advising on US Chapter 11 cases. Latham & Watkins is a desirable choice for complex matters spanning many jurisdictions across Europe and beyond due to its expansive global network. Retail, automotive, manufacturing and aviation are key areas of activity.

White & Case offers widespread reach across Europe with a number of well-reputed offices in the UK, Germany and France, as well as the CEE region. The lawyers act for a variety of creditors and debtors, with clients including indebted companies, funds and banks. The law firm is skilled at advising on schemes of arrangement and insolvency administration, with a top-tier administration group in Germany. White & Case has further capabilities in advising on Chapter 11 cases.

Dentons has well-regarded Eastern European offices along with notable German, Dutch and UK teams. The lawyers are experienced in representing administrators, banks, funds and indebted companies. The law firm is capable of handling a broad array of matters such as insolvency litigation, as well as self-administration and trusteeship procedures

Kirkland & Ellis has a dedicated team spread between highly regarded offices in the UK and Germany. The law firm advises a roster of prominent clients on major pan-European mandates, including debtor companies as well as key international funds and bondholders. The lawyers are skilled in debt-for-equity swaps and in-court proceedings. The group offers particular expertise in high-yield bond restructurings. It frequently acts on prominent matters in the retail, healthcare, transportation and finance sectors.

Weil, Gotshal & Manges has strong European cross-border capabilities, with respected practices in France and the UK. The law firm exhibits skill in a variety of areas including distressed M&A and bank portfolio sales. The lawyers act for borrowers in the restructuring arena, as well as advising on the side of creditors. Teams in Europe and the USA frequently collaborate on international mandates relating to Chapter 11 proceedings.

Akin Gump Strauss Hauer's leading UK team is involved in complex cross-border European restructurings, often involving the Nordics. The lawyers are highly active for creditors, including noteholders and bondholders. The firm counts a range of funds among its clients, as well as clients in the energy sector.

CMS has strong capabilities in the UK, Spain, Germany, the Netherlands and Portugal. The lawyers regularly advise clients on multi-jurisdictional mandates on both the lender and debtor sides, as well as representing funds bidding for non-performing loan portfolios. CMS handles matters across a wide range of industry sectors, including real estate and financial services.

DLA Piper has a notable presence across a number of European countries, including the UK, Italy, the Netherlands, Spain and Norway. It is experienced in mid-market and larger-scale matters related to distressed situations, regularly acting on asset recovery and litigation. The lawyers are frequently appointed on both the debtor and creditor sides, as well as by administrators and liquidators. DLA Piper is highly active in the energy, retail and aviation sectors.

Clients benefit from Hogan Lovells' extensive European network, with notable offices in the UK, Italy, Germany and France. Its broad practice covers an array of matters ranging from cross-border insolvency proceedings to distressed loan portfolio transactions. The firm acts for the full spectrum of clients, from creditors, trustees and noteholders through to debtor companies, and has longstanding relationships with well-known financial institutions and corporates.