Restructuring/Insolvency | Europe

Akin boasts a market-leading creditor-side practice that houses certified experts in bond and noteholder work. The department has an excellent reputation for advising major lenders on complex cross-border cases, with particular strength in matters in the Nordic region. It has an enviable portfolio of clients, including specialist investment funds, debt investors, pension funds and hedge funds. Its lawyers are highly adept at handling restructurings of complex corporate debt and structured finance arrangements.

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.

Freshfields has a thriving team acting on a host of headline matters on the creditor and company sides. The department has experience in representing distressed high-street retailers, and its lawyers are well positioned to advise on instructions with a high-yield and Term Loan B aspect. Freshfields has a growing reputation in insolvency litigation and distressed investing mandates, acting on behalf of special situation funds, hedge funds and alternative investors.

A&O Shearman enjoys an excellent reputation for its work on large-scale restructurings. Its client base is varied and includes lenders, corporate borrowers and insolvency practitioners, among others. The firm's international network allows it to advise on multi-jurisdictional deals, and the London-based team is able leverage that footprint when advising clients.

Milbank has a highly respected restructuring and insolvency practice. The team stands out for its ability to advise creditors and bondholders, although it also works with corporate borrowers and investors. Cross-border work is another strength of the practice, especially when those matters involve the USA.

Slaughter and May maintains a standout practice which is regarded as a go-to for company-side representation in restructurings and distressed situations. The firm is frequently called upon to advise on complex and high-value restructurings and insolvencies, often with a multi-jurisdictional aspect. Its lawyers possess considerable experience handling government debt and bank restructurings. Slaughter and May also fields strength in creditor-side representations, with additional experience acting for insolvency practitioners.

Ashurst houses a team of accomplished practitioners who are able to tap into a global network to provide integrated advice on multi-jurisdictional matters. The firm's client base includes corporate borrowers and their directors, as well as banks and investment funds. The team is noted for its work on special situations and distressed real estate, as well as its more general restructuring and insolvency advice.

Goodwin's restructuring and insolvency team regularly works with leading asset managers and insolvency practitioners on cross-border work. The team is able to draw on the firm's US presence to advise international clients and act in Chapter 11 and 15 proceedings.

Herbert Smith Freehills possesses a strong restructuring and insolvency practice which is highly regarded for its representation of distressed debtors, particularly on deals in the energy and mining sectors. The firm also has an attractive offering on the lender side, acting on impressive instructions for high-profile financial institutions. Its lawyers have demonstrable experience handling complex multi-jurisdictional mandates, notably concerning the European and US markets.

Jones Day works with debtors and sponsors on complex multi-jurisdictional mandates. The firm enjoys a healthy reputation for advising bondholders and distressed investors, particularly in the real estate sector. The team advises clients on the full scope of restructuring and insolvency matters, from distressed acquisitions to reorganisations and contingency planning.

Norton Rose Fulbright maintains a strong presence in the market, with a focus on work for clients in the shipping, commodities and mining sectors. The firm's global network enables it to act on international matters for banks, funds and corporates. The financial restructuring and insolvency group is noted for its handling of complex loan restructurings, pre-packaged plans, and the sale and purchase of distressed assets.

Pinsent Masons has a strong bench of skilled lawyers who are active on a wide range of matters. The firm is on the panel of several UK clearing banks, in addition to representing several challenger banks and funds. The restructuring group is also a popular choice with insolvency practitioners, notably advising these clients on administrations of law firms and professional service groups. Its lawyers are experienced in advising on matters in the retail and leisure sectors.

Willkie represents a range of stakeholders on both the creditor and debtor sides of complex restructurings and recapitalisations. Its lawyers are able to act across sectors such as energy, telecommunications and manufacturing. The firm's strong European and US presence makes it a go-to for deals involving cross-border or Chapter 11 elements.

Addleshaw Goddard has a distinguished restructuring practice that retains an impressive number of panel positions with major banks. As well as traditional lenders, the team is also sought out by clients in the alternative lender and fund spaces. In addition to its lender-side practice, the department also regularly works on behalf of insolvency practitioners. Addleshaw Goddard brings to bear the firm's wider expertise when advising on restructurings within the retail and energy sectors, and is able to leverage its global footprint to advise on cross-border matters.

Cleary Gottlieb Steen & Hamilton is a leading international firm with a notable restructuring practice. The London-based team works with creditors and debtors on cross-border work.

CMS is a popular option for creditors, including clearing banks and alternative funders. The department offers expertise across the gamut of restructuring and insolvency. The team skilfully handles the acquisition and disposal of distressed loan portfolios. Its lawyers stand out for their expert handling of distressed situations in the energy sector, while other industry specialisms include financial services, real estate and retail.

Skadden draws on its global network to advise on domestic and cross-border restructurings. Its London-based lawyers are capable of advising clients on US-related bankruptcy issues and are regularly asked to do so by a full range of stakeholders.

Sullivan & Cromwell possesses a respected team with strong UK and US capabilities. The firm acts for impressive clients, which include credit funds and creditors' committees as well as debtors.