Retour United Kingdom - Solicitors

Leading Individuals

Corporate restructuring & insolvency in London

Akin Gump LLP

Praised by one client for its 'strong ability to corral bondholders with different agendas and well supported by New York colleagues', Akin Gump LLP excels in advising creditors, including hedge and pension funds, in complex multi-party restructuring mandates. A true destination practice, the majority of matters handled by the 13-partner team, which is run out of London by the 'experienced and commercialJames Roome and Barry Russell, is of a standalone nature, a testament to the firm's ability to 'maximize value for its clients in a sustainable way'. Leveraging the firm's overarching energy sector expertise, the team continues to be at the forefront of creditor mandates in the oil and gas sector, with the 'calm and collectedJames Terry benefiting from particular expertise in relation to Norwegian bond restructurings. The 'energetic and enthusiasticLiz Osborne is a 'calm and focused negotiator' for a versatile array of investor clients, which are appreciative of her ability to 'deal effortlessly with highly complex detail'. The  'quietly spoken but fiercely intelligent' Emma Simmonds is a 'stylish negotiator' and is regularly involved in high-profile restructurings of distressed bonds, private placement notes and loans in Europe.

Responsables de la pratique:

James Roome; Barry Russell

Les références

The team has comprehensive skills and significant experience in multi-party complex restructuring.

In addition to being very good lawyers, they have two other qualities that I have always found sets them apart from other work-out lawyers. First, in discussions where they represent a group of disparate lenders, they are able to lead the discussions and offer a range of approaches in order to more quickly and efficiently reach consensus. Second, they understand the business implications of situations and thus are able to separate the theoretical from the practical in strategic discussions with clients.

The team has a strong ability to corral bondholders with different agendas and are well supported by their New York colleagues for cross-border deals.

James Terry is calm and collected and very commercial.

James Roome – good for high level strategic guidance. Knows how restructurings play out and how to get clients the best deal.

When you think of what a great partner and advisor is in terms of external counsel, Barry Russell embodies it and then beats it. By far.

The energetic and enthusiastic Liz Osborne is extremely hardworking and a great negotiator.

Liz Osborne is exceptional in all regards – she deals effortlessly with highly complex detail and yet retains a clear vision of how everything fits. Importantly for clients, she inspires huge confidence that your interests are being relentlessly considered, and, if necessary, fought for.

Emma Simmonds is quietly spoken but fiercely intelligent and a stylish negotiator.






Principaux clients

Agrokor d.d.

Ad Hoc Committee of Noteholders of Digicel Group Limited

Lenders to the Endeavour Group of Companies

Fairhold Securitisation Limited

Strategic Value Partners (UK) LLP

The Ad Hoc Group of Senior Secured Noteholders of Galapagos SA

Majority bondholder of Norwegian Law Governed Secured Bonds Issued by G3 Exploration Limited

The Noteholders of Royal Imtech N.V. and its Subsidiaries

The Lenders to (and Shareholders of) the Interserve Group of Companies

Global Group of Mozambique Bondholders (GGMB)

Ad Hoc Group of Senior Unsecured Creditors of Noble Group Limited

Nordic Trustee AS

Certain Affiliated Noteholders of the Syncreon Group

Holders of Shares and Notes Issued by Terreal Holding SAS and its subsidiaires

The Ad Hoc Noteholder Committee of Weatherford International

Principaux dossiers

  • Advised Agrokor, as independent international legal counsel, in connection with the negotiation and implementation of a global settlement plan as contemplated by The Law on the Procedure of Extraordinary Administration in Companies of Systemic Importance for the Republic of Croatia.
  • Advising Fairhold Securitisation Limited in connection with the restructuring of its £413.7m Class A Secured Floating Rate Notes and £29.8m Class B Secured Floating Rate Notes and its potential swap liabilities.
  • Lead counsel to Strategic Value Partners in relation to the successful restructuring of a Norwegian law governed $611m senior secured credit facility advanced to Oslo stock exchange-listed international drilling contractor, Dolphin Drilling ASA, and in relation to its $120m senior unsecured notes.

Allen & Overy LLP

Led by Ian Field and Earl Griffith Allen & Overy LLP's 13-partner team has the critical mass and 'high level of technical expertise' to ensure that it wins  mandates advising key stakeholders in many of the most significant domestic and cross-border restructurings in the market. Active in situations throughout the capital structure, the team is able to provide integrated advice using the expertise of lawyers spread throughout the firm's network of European, Asian, Middle Eastern and US offices, enabling clients to receive the benefit of a team that can effectively implement core insolvency techniques across a range of scenarios, including US Chapter 11 reorganisations and UK schemes of arrangement. Although the firm handles work for an array of stakeholders, its strong institutional banking ties and involvement at the front end of deals, ensure that it picks up a large volume of mandates for senior creditors, including its recent role for the revolving credit facility lenders on Thomas Cook's high-profile £1.65bn restructuring. Randal Weeks  is pivotal to many of the firm's banking and funds-side mandates and is a key senior practitioner in a team that also includes the 'outstanding' Jennifer Marshall, whose 'tremendous thought leadership' regularly sees her providing key strategic advice to clients on hot-button issues in the market, including as it relates to Brexit and European insolvency related legislation.  Joel Ferguson continues to develop a strong creditor side practice for banks on restructurings and formal insolvencies, in addition to work in more niche areas including for swap counterparties in structured finance restructurings.

Les références

The firm’s ability to deploy wide-ranging specialist resources at speed, in order to deliver even in the most condensed time frame is difficult to match.

The team provides a very high level of technical expertise combined with a strong work ethic.

The outstanding Jennifer Marshall displays tremendous thought leadership.


Principaux clients

KCA Deutag Group


Nigeria Sovereign Investment Authority


Principaux dossiers

  • Advised the co-ordinating committee of creditors (banks and funds), the ad hoc creditors committee (funds), three existing facility agents and the new facility and security agent of Steinhoff Europe AG (SEAG) in relation to the €9.6bn restructuring of the Steinhoff group.
  • Advised the RCF lenders of Thomas Cook Group Plc (Thomas Cook) in relation to the £1.65bn restructuring of the Thomas Cook group.
  • Advised a shareholder and creditor in relation to the €2.6bn restructuring of the Nyrstar Group.

Clifford Chance LLP

Clifford Chance LLP's five-partner team provides 'top quality advice, across jurisdictions and across the spectrum of different types of transactions', running the gamut from balance sheet restructurings and distressed transactions, through to formal insolvency matters. Led by the 'pragmatic and commercialPhilip Hertz, the firm's balanced roster of clients, which includes banks, corporates and funds, and visibility for fulcrum stakeholders in high-profile mandates, (including recently Thomas Cook and British Steel) ensures that it is well-placed to provide 'an honest and accurate market view'. 'Attentive and careful in advising on the various options available', Iain White epitomises the firm's versatility and provides 'timely and accurate advice' to both creditors and debtors, frequently in a cross-border setting. John MacLennan 'has seen deals across different types of industries and European jurisdictions' and is a key member of a team that also includes the 'excellentDavid Towers, whose broad-ranging practice also includes work for alternative lenders.

Responsables de la pratique:

Philip Hertz

Les références

The team provides precise, timely and accurate advice.

The firm provides top quality advice, across jurisdictions and across the spectrum of different types of transactions.

The team has a can-do attitude, is robust in negotiation when needed, but  equally focused on getting the deal done and finding ways to work around problems.

Because of their position in the market, you can rely on them to give you an honest and accurate market view.

The pragmatic and commercial Philip Hertz has great knowledge and experience in wide-ranging UK and cross-border matters.

Iain White was attentive and careful in advising on the various options available to our side.

John MacLennan is an excellent lawyer, who is more than a steady pair of hands in the stress and tedium of a restructuring situation. He has seen deals across the different types of industries and European jurisdictions, and because of his contacts, if he doesn’t know the answer to a particular question, he will be able to find out the answer for you.



Principaux clients

Angelo Gordon




BNP Paribas

Credit Suisse


Natwest Markets/RBS


Deutsche Bank


Hemisphere International Properties B.V.


Fosun Tourism Group

Davidson Kempner


Principaux dossiers

  • Advising the Official Receiver and EY in their capacity as Special Managers of British Steel Limited (BSL) on the liquidation of BSL generally and, in particular, on the sale of its business and assets to Jingye Steel (UK) Limited and Jingye Steel (UK) Holding Limited, a privately owned enterprise from the Hebei province in China.
  • Advised Thomas Cook Group Plc’s largest shareholder, Fosun, on its attempted recapitalisation and restructuring of Thomas Cook.
  • Advising the bank co-ordinating committee on the high-profile restructuring and recapitalisation of Nyrstar, which was minority owned by Trafigura, and with smelting and mining operations in Europe, Australia, Canada, the Nordics and the US.

Kirkland & Ellis International LLP

Led by the 'truly formidable, helpful and experiencedPartha Kar and Kon AsimacopoulosKirkland & Ellis International LLP's 'knowledgeable and well-connected' restructuring team provides 'thoughtful and smart advice' to a range of stakeholders on mandates throughout the capital structure, including those involving New York law governed high yield debt. The firm's 'truly unique relationships with the fund and financial adviser communities' ensure that the team has had a key seat at the table on many of the most significant recent European restructurings in the market, including an increasing number of debtor mandates. The 'brilliantSean Lacey is particularly well-versed in handling special situations and distressed investment mandates, while Elaine Nolan 'has very strong experience in designing, implementing and adapting complex Company Voluntary Arrangements (CVAs)', and has utilised the tool to good effect in a spate of high-profile retail restructurings.

Responsables de la pratique:

Kon Asimacopoulos; Partha Kar

Autres avocats clés:

Sean Lacey; Elaine Nolan

Les références

Probably the best restructuring team in Europe. The number of transactions they have advised on is astounding, and the relationships with the fund and financial advisor communities is truly unique.

The firm has very strong experience and are stand out practitioners in designing, implementing and adapting complex Company Voluntary Arrangements.

They are knowledgeable, experienced and well-connected, thoughtful and smart, and (very importantly) appropriately aggressive when the situation requires it.

Kon Asimacopoulos, Partha Kar and Sean Lacey are truly formidable, because they are so consistently successful. They are helpful and experienced, and will be at the top of the list of lawyers to call when a restructuring situation arises.

Elaine Nolan has been extremely helpful in considering various options and advising on both the technical and commercial aspects of each.

Principaux clients

Ad hoc committee of first lien lenders to Getronics

Ad hoc committee of Lebara bondholders

Ad hoc committee of the €2.6bn convertible bonds issued by Steinhoff Finance Holding

Agrokor / Fortenova

A.S.Adventure’s UK subsidiary, Outdoor and Cycle Concepts

Centerbridge and KKR, and subsequently Hospital Topco Limited (re General Healthcare Group)

Davidson Kempner (re Four Seasons Healthcare)

Debenhams investors / Celine Newco

Dia Group (Distribuidora Internacional de Alimentacion)


Forever 21

Galapagos Group

Lenders to Bartec (including EQT)

Lenders to Bulsatcom (including Blantyre Capital and Bulgarian Development Bank)

Lenders to Survitec Group

LetterOne (as shareholder of Dia Group)

Mamas & Papas




Various stakeholders and potential purchasers (re Thomas Cook)

Principaux dossiers

  • Acted for Galapagos BidCo S.à r.l. and certain other Galapagos entities (English, German and New York law advice) on its high-profile, highly contentious restructuring.
  • Acted as international lead counsel to the ad hoc group of bondholders of Vieo. The restructuring involved a contested, coercive share pledge enforcement by the firm’s clients, holders of Vieo’s €350m senior secured notes.
  • Advising the ad hoc committee of the  €2.6bn  convertible bonds issued by Steinhoff Finance Holding GmbH, as to English, German and New York law.

Latham & Watkins

Benefiting from significant 'strength in depth', as a result of numerous recent strategic hires, including counsel David Wallace  from Alcentra and former Mayer Brown International LLP  partner Jessica Walker, Latham & Watkins' team is increasingly well-placed to advise a diverse array of stakeholders across a range of mandates. Under the guidance of the 'vastly experiencedSimon J Baskerville, the team has, however, perhaps gained most visibility in the special situations and distressed investing field, for funds and alternative credit providers investing at a par CLO level as well as at a discount on the secondary markets. Sophisticated funds clients benefit from the firm's understanding of the market and its ability to advise on Chapter 11 procedures, by virtue of its US heritage and offices. Highly regarded partner Yen Sum  has 'done a fantastic job' since her arrival in July 2018 from Sidley Austin LLP and has leveraged her strong relationships with asset managers, hedge and credit funds to secure prominent positions on numerous high-profile mandates. John Houghton has vast experience in the market for sponsors and creditors and is a key practitioner in a team that also includes Jennifer Brennan, who regularly works alongside Sum on work for funds clients.

Responsables de la pratique:

Simon Baskerville

Les références

The firm gives a banking solution with people that understand insolvency and the downside scenario, and think about what can go wrong and how it will play out.

Simon Baskerville is vastly experienced.

Simon Baskerville and Yen Sum stand out based on their considerable experience.

The very hands-on James Chesterman is accessible to clients and always on top of the work his team is performing.

Straight shooter James Chesterman has a ton of experience, which helps him be open minded to new ideas.


Principaux clients

Goldman Sachs

Hayfin Capital Management


Bibby Offshore

Savannah Petroleum


M&G Investments

Oaktree Capital Management


Credit Suisse

Principaux dossiers

  • Advising the ad hoc committee in relation to the restructuring of Deoleo S.A., a Spanish headquartered global olive oil production and distribution business, involving a Spanish homologacion process, partial debt for equity swap, new rights issue, and complex intra-group reorganisation with business and asset hive down
  • Advising the committee of senior secured creditors in relation to Doncasters Group, the UK-headquartered international manufacturer of high-precision alloy components on its c. £620m debt capital structure
  • Advising Britax Römer Group, the UK-headquartered child seat, pushchair and bike seat manufacturer and distributor on its c. $380 million debt and equity restructuring.

Linklaters LLP

Led out of London by the 'very commercial' Rebecca Jarvis and Richard Bussell but also able to tap into the expertise of lawyers spread across the firm's far-reaching international network, Linklaters LLP's eight-partner team excels in handling complex global situations for a varied roster of creditor and debtor-side stakeholders. The team's involvement at the 'forefront of many situations for a large number of years'ensures that it is well-versed in market trends and is therefore able to 'add a lot of value', whether in the context of transactional distressed investment type mandates or more formal insolvency procedures. Well-versed in consensual restructuring/insolvency issues, as well as those involving a more contentious angle, James Douglas is seen with great regularity on many of the firm's most significant mandates, including his work alongside Jarvis for a syndicate of bank lenders in respect of a corporate and financial restructuring of Galapagos. Bruce Bell has a strong reputation for large corporates on major debt restructuring exercises, and has also developed particular expertise in relation to English Schemes of Arrangement, both to implement restructurings and (with Nicholas Le Masurier) as a tool for the management of other liabilities such as credit card protection insurance mis-selling compensation. Sarah Mook has vast experience in both private practice and in-house (including a long stint with Goldman Sachs' EMEA restructuring team) and has an excellent perspective of special situations and distressed transactional work, in particular. Tony Bugg is also recommended and is perhaps best-known for his leading role for the firm in relation to the long-running Lehman Brothers insolvency.

Responsables de la pratique:

Rebecca Jarvis; Richard Bussell

Les références

‘The firm has been at the forefront of many situations for a large number of years –  a lot of that experience remains in the practice today and adds a lot of value to current situations.’

‘The team thinks outside the box to find solutions.’

‘The very commercial Rebecca Jarvis is one of the best insolvency lawyers in the market.’

‘The technically strong, commercial and pragmatic Richard Hodgson provides very balanced advice.’

‘There is a strong firm culture around the team. This resonates with clients.’



Principaux clients

PricewaterhouseCoopers LLP

FTI Consulting LLP

Jingye Group Co., Ltd

New Look Retail Group Limited

Secured creditors of Dubai International Capital LLC

Lecta S.A. and its subsidiaries

Syndicate of bank lenders to the Galapagos Group

Seven Energy Group

Lehman Brothers

Intriva Capital Advisors LLP

Principaux dossiers

  • Advised the joint administrators of Debenhams Plc in relation to the enforcement sale of its subsidiaries and issues arising in its administration proceedings.
  • Advised a syndicate of bank lenders in respect of a corporate and financial restructuring of Galapagos S.A. and its subsidiaries.
  • Advised New Look Group in relation to its £1.35bn balance-sheet restructuring.


Milbank's 'responsive and commercial' five-partner team excels at representing bondholders as creditors in large cross-border distressed scenarios, where it has the flexibility to implement both European and US processes to best serve the client's needs. The 'superbYushan Ng has been pivotal to the firm's increased visibility in the market and has effectively been able to leverage his deep funds ties to ensure that the firm regularly has a seat at the table for bondholder committees on high-profile mandates, including Thomas Cook and Nyrstar. The 'very experiencedNick Angel co-heads the team alongside Ng and has more of a debtor focus to his practice. Peter Newman joined Skadden, Arps, Slate, Meagher & Flom (UK) LLP in February 2020.  

Responsables de la pratique:

Nick Angel; Yushan Ng

Les références

Stand out skills the team possess, include issue spotting, problem solving and big picture thinking.

Yushan Ng is superb.

Nick Angel is very experienced.

Sinjini Saha and Karen McMaster are responsive and provide clear and concise advice, that effectively balances  legal risk with commercial objectives.


Principaux clients

Ad hoc committee of Nyrstar bondholders

Ad Hoc Committee of Thomas Cook Bondholders

Subordinated bondholder committee of Galapagos Heat Exchange Group

Committee of senior old money lenders of Abengoa SA

Committee of bondholders of Youngs Seafood

Committee of lenders to Britax Group

Committee of lenders to Hemisphere Group

Ad hoc group of bondholders to Officine Maccaferri

Principaux dossiers

  • Acted for a cross-holder ad-hoc group of noteholders in Nyrstar’s restructuring.
  • Acted for a cross-holder ad-hoc group of noteholders in Thomas Cook’s planned restructuring.
  • Acted for a group of subordinated bondholders in respect of the very contentious restructuring of German Heat manufacturer, Galapagos Heat Exchange Group.

Weil, Gotshal & Manges (London) LLP

Strengthened on the funds side, in particular, by the arrival in November 2019 of Neil Devaney  from Akin Gump LLPWeil, Gotshal & Manges (London) LLP has an increasingly balanced debtor and creditor facing offering, with expertise running the gamut from distressed investing and non-performing loans mandates through to formal insolvency procedures. The team has an 'excellent understanding of the issues in restructuring in complex scenarios involving multiple parties and jurisdictions', where it is aided by its ability to harness the expertise of finance lawyers with knowledge throughout the capital structure (including both UK and US-law governed debt) and the flexibility to execute matters using both UK and US insolvency procedures. As the senior European partner in the restructuring team, Andrew Wilkinson has 'seen it all' and is thereby able to effectively guide both debtors and creditors through the choppy waters of global restructurings, in particular. Mark Lawford has a strong reputation for debtors and creditors across both consensual restructurings, as well as in a contentious scenario. Of counsel Linton Bloomberg provides 'very sensible advice' to myriad stakeholders, including banks, funds, IPs and private equity sponsors. Alexander Wood  quit for Shearman & Sterling LLP  in summer 2020.

Les références

‘The team has an excellent understanding of the issues in restructuring in complex scenarios involving multiple parties and jurisdictions.’

‘Andrew Wilkinson has seen it all.’

‘Linton Bloomberg provides very sensible advice.’

Principaux clients

Syncreon Group Holdings B.V.

Ambac Assurance UK Limited

Stuart Sybersma and David Soden as joint provisional liquidators of Abraaj Investment Management Limited

Doncasters Group Ltd

Ad hoc group of noteholders under the SFA issued by KCA Deutag (including Sculptor Capital LP, Barings LLC, and Avenue Capital Group )

FRP Advisory as the Joint Administrators of Arjowiggins Fine Papers Ltd

Folli Follie

Charterhouse Capital Partners

Lehman Brothers Holding Inc  and Lehman Brothers Holdings Scottish LP 3

KPMG re: MF Global UK Limited (in special administration)


Floatel International Ltd

Franklin Templeton Investments

Principaux dossiers

  • Advised syncreon Group Holdings in relation to its cross-border financial restructuring. Notably, the matter was perhaps the first-ever use of an English scheme to restructure debt issued by a US-based global enterprise, reducing syncreon’s funded debt load by approximately $690m and providing it with approximately $260m of new financing.
  • Advised Ambac Assurance UK Limited in relation to the restructuring of reinsurance liabilities of Ballantyne Re Plc, through an Irish scheme of arrangement paired with US Chapter 15 recognition
  • Acting for the joint provisional liquidators of Abraaj Investment Management Limited, the investment manager of the emerging markets focused (and once the Middle East’s biggest) private equity group.

White & Case LLP

White & Case LLP provides 'commercial and solution-driven advice' to a creditor-focused client base on cross-border restructurings and special situations. Led by the 'user-friendlyChristian Pilkington, the team has built significant traction among funds clients, which appreciate not only the firm's core insolvency/restructuring capabilities but also its ability to draw upon the wider expertise within the capital markets/banking and private equity groups, and its familiarity with UK and New York-law governed debt products. Ian Wallace is 'responsive and calm under pressure', and in addition to his work for the firm's bedrock of sophisticated investor clients, is also noted for his company side expertise, particularly in the context of energy-related emerging markets mandates. Ben Davies has an 'incredible breadth of knowledge across restructuring and formal insolvencies' and is a key member of a  team that also includes senior associate Morvyn Radlow .        

Responsables de la pratique:

Christian Pilkington

Autres avocats clés:

Ian Wallace; Ben Davies; Morvyn Radlow

Les références

White & Case operates a seamless, cross-border restructuring practice – which is unique in the market. The White & Case team seems to genuinely operate as one group, regardless of jurisdiction, allowing them to deliver more creative solutions to their international clients.

As experts in their field, the team are able to identify issues quickly and provide commercially focused, solution-driven advice.

The highly commercial and user-friendly Christian Pilkington is without a doubt one of the leading restructuring lawyers in the European market, with an enormous grasp of all aspects of European restructuring, in particular Schemes of Arrangement.

Responsive and calm under pressure, Ian Wallace quickly cuts to the issues and provide commercially focused advice.


Principaux clients


GSO Capital Partners


York Capital

Oak Hill Advisors

CVC Credit Partners

Bybrook Capital

Strategic Value Partners

Deutsche Bank Distressed Products Group

Cross Ocean Partners

VR Capital


Ernst & Young

Principaux dossiers

  • Advised an ad-hoc group of noteholders in relation the comprehensive multimillion-dollar restructuring of Seven Energy.
  • Advising an ad-hoc group of noteholders in relation to the financial restructuring of the Senvion Group.
  • Acting for Utico and Emirates NBD Capital in connection with the restructuring of certain Singapore entities within the Hyflux Group via a scheme of arrangement.


Benefiting from 'great in-depth knowledge of insolvency law and practice', Ashurst's five-partner team provides 'sensible and pragmatic advice' to a balanced roster of stakeholders, including distressed investment funds, debtors, senior lenders, junior lenders, bondholders and IPs. 'Highly experienced and unflappable' team head Giles Boothman  is well-versed across a range of strategies for funds looking to realise value in a distressed situation, particularly in relation to loan-to-own scenarios. Boothman has also recently handled numerous high-profile Official Receiver mandates, including in relation to Thomas Cook's high-profile liquidation and British Steel's sale to  Chinese steelmaker, Jingye Group. Praised for her ability to 'explain complex concepts', Olga Galazoula has a flourishing reputation in the market and, as well as her role alongside Boothman in the aforementioned Thomas Cook mandate, also has niche expertise advising investors seeking to acquire Greek non-performing loan portfolios. In addition to more conventional insolvency and restructuring work, the 'exceptionalDrew Sainsbury has developed a niche in relation to financial services-related insolvencies.

Responsables de la pratique:

Giles Boothman

Les références

The team is responsive, diligent, efficient and has a great in depth knowledge of insolvency law and practice.

The lawyers have an ability to think outside the box and deliver novel solutions.

Their breadth and depth of knowledge makes them stand out, in that they are able to deal with all technical issues in an efficient and commercial way. They are market leaders in insolvency in the financial services sector.

The team is easy to work with and provides sensible, pragmatic advice in stressful and challenging situations. The lawyers are highly responsive and provide a good balance between the strict legal position and the reality of the company’s specific fact pattern.


Giles Boothman is highly experienced and apparently unflappable. Invaluable in a crisis and great to work with.

Olga Galazoula is able to communicate complex technical issues to the board in a comprehensible way.

Drew Sainsbury is exceptional.


Principaux clients

Elliot Capital


HM Government




David Kempner



Oaktree Capital

Principaux dossiers

  • Advised the Official Receiver and Special Managers in the compulsory winding-up of 26 companies core to the Thomas Cook Group.
  • Advised HM Government on British Steel Limited, the second-largest steelmaker in the UK, in particular on its short term bridge funding arrangement, the entry of British Steel into an insolvency process and on the sale by the Official Receiver of the business and assets of British Steel Limited (in liquidation) to Jingye, the Chinese conglomerate.
  • Advised the board of directors of Survitec Acquisition Company Limited and its directors on various matters including their duties and wrongful trading obligations during discussions with the company’s lenders for a comprehensive recapitalisation of the Survitec Group.

Hogan Lovells International LLP

Under the leadership of the 'superbTom AstleHogan Lovells International LLP has successfully broadened the scope of its creditor focused client base to include not only the clearing banks, which were the original lifeblood of the practice, but also the debt and hedge funds that are increasingly taking the lead in many of the larger transactions in the market. Praised for his 'commerciality and business sensibilities', Astle has excellent credentials for distressed investment and special situations work and is effectively supported in this area of the practice by Alex Kay, who is appreciated, in particular for his 'understanding of the legal opportunities and realities in the emerging markets jurisdictions'. Deborah Gregory and Stephen Foster remain the engine room of the firm's more traditional bank-led work, while Joe Bannister is the go-to practitioner for more formal insolvency work, including mandates with an Asian nexus.

Responsables de la pratique:

Tom Astle

Les références

The team is very capable from their understanding of the legal opportunities and realities in the emerging markets jurisdictions and has a keen eye on the commercial realities of maximizing recovery.

Tom Astle is superb.

Alex Kay is my go to guy in Ukraine; sure he is good in other countries as well but that has been my focus in recent years.


Principaux clients

Knighthead Capital Management

Bank of America Merrill Lynch



Ataer Holding AS

The big four accountancy firms (KPMG, Deloitte, EY and PwC)

Argentem Creek


Principaux dossiers

  • Advising group of surety providers comprising 8 international institutions with €400m exposure on prospective recapitalisation of European tour operator, Thomas Cook.
  • Advising a material creditor in the ongoing restructuring of Ukrainian steel pipe producer, Interpipe.
  • Advising Ataer Holding AS, the holding company for the Turkish army pension fund, in its proposal to acquire the business, assets and undertaking of British Steel Limited in the UK, Netherlands and France .

Slaughter and May

Praised for its 'collaborative approach', in part engendered by the firm's generalist mindset, the 'immensely able' four-partner team at Slaughter and May provides reliably consistent and commercial advice to boards of directors and large corporates experiencing financial distress. Praised for his ability to remain 'calm, measured and considered, even in the most tense, complex and emotional restructuring and insolvency situations', Ian Johnson embodies the firm's "house style", and addresses complex matters with dignity and calm resolve. Praised for his 'excellent deal management skills', Johnson has built a name for himself on behalf of Plcs and boards of directors (as exemplified by his recent high-profile work for Interserve and Thomas Cook on their high-profile troubles). The 'very smartTom Vickers is also a key member of the team and regularly acts alongside Johnson on many of the firm's highest-profile deals, including in relation to financial services insolvencies - another niche specialism of the group.

Responsables de la pratique:

Ian Johnson

Les références

Slaughter & May collaborates well across their firm and has a “house-style” that I trust but also I know they will approach matters with dignity and they won’t be too aggressive.

The R&I team works very effectively with their colleagues in other practice areas to provide a near seamless service.

Ian Johnson never ceases to amaze me at how calm, measured and considered he is even in the most tense, complex and emotional restructuring and insolvency situations. He is a great influencer and mediator with people of all backgrounds.

Ian Johnson : quiet but very effective. Clever, patient and very good deal-management skills. Has a pleasant manner, which endears him to clients and makes them trust him. Technically very strong too.

Edward Couzens is technically sound and provides great client management.


Principaux clients

Interserve Plc

Ernst & Young


Thomas Cook Group and its Directors

Ferrovial S.A.

Grant Thornton

Arcadia Landlord Steering Group

Honeycomb Investment Trust Plc (a Pollen Street Capital vehicle)

FRP Advisory LLP

Tiger Resources Limited

Seadrill Limited

Premier Oil

Credit Suisse

Principaux dossiers

  • Advised Interserve Plc on the development and implementation of its deleveraging plan (via a pre-packaged administration sale), which involved a placing and open offer of new shares, a reduction of the group’s existing debt by approximately £485m, and the provision of additional liquidity to the group through a £110m new debt facility.
  • Advised the board of Thomas Cook Group Plc on the group’s proposed recapitalisation plan and its ultimate entry into liquidation. Subsequently, the firm advised the former directors regarding the BEIS Select Committee inquiry into the group’s liquidation.
  • Advised an informal steering committee of landlords regarding the use of company voluntary arrangements in the restructuring of the Arcadia group. This was the first time that landlords coordinated to negotiate the terms of a CVA, and it resulted in alterations to many of the terms of both the CVAs and the wider restructuring, producing a fairer outcome for all landlords and other stakeholders.

Bryan Cave Leighton Paisner LLP

Benefiting from an 'innate ability to take control and get a job done', Bryan Cave Leighton Paisner LLP provides 'cost-effective and workable solutions' to a creditor-focused client base that includes UK clearing banks and an increasing number of US entities (as a result of the firm's merger in 2018). The team is praised for its 'collaborative approach' and this regularly manifests itself in relation to distressed real estate-related situations, where it is able to draw on the expertise of lawyers within the broader commercial property group. 'Calm and personable' team head Ben Jones  is a ‘first-rate restructuring lawyer’ and is recognised as a 'really nice person to work with in challenging environments'. Ian Benjamin  is also recommended and has a versatile offering for a varied array of stakeholders, including distressed investors.

Responsables de la pratique:

Ben Jones

Les références

The firm has an extremely strong restructuring and insolvency team which is adept at dealing with a wide range of financially distressed situations – for lenders, borrowers, investors and management teams. They are extremely commercial and well-connected and provide a high-quality service on a sensibly priced basis.

When the pressure is on in a difficult transaction, this team has an innate ability to take control and get a job done because of their practical experience and demeanor.

The team has a wide depth of technical knowledge but crucially practical experience which has been brought to bear in engineering solutions to complex problems on the transaction they supported me on.

The restructuring group has an excellent grasp of UK and global issues and a superior understanding of financial services business. Therefore they are positioned to deal with not just pure bankruptcy and restructuring issues, but to also be a real asset in all the related litigation which requires a good understanding of sales and trading as well as financial services generally.

Ben Jones is very sharp and a delight to work with; he is also incredibly responsive.

Ben Jones is very good and a really nice person to work with in challenging environments.

Marc Trottier is a first-class lawyer, with excellent attention to detail, combined with shrewd commercial acumen to help find the best and most pragmatic solution in circumstances which are invariably complicated.

The responsive Simon Clarke has superb technical expertise.



Principaux clients

Alvarez & Marsal

Lloyds Bank plc


Homes England (formerly known as Homes and Communities Agency)




Ernst & Young

MF Global Holdings

FRP Advisory LLP

Principaux dossiers

  • Advised Flybe, the UK’s largest regional airline, on its rescue in 2019.
  • Advised long-standing client TMF on options under cross-border insolvency law to maximise values for the creditors under the sales process. TMF is the indenture trustee for senior notes with a claim of approx $300m issued by the China Fishery Group, which filed for Chapter 11 protection in 2016 with debts of more than $1.5bn.
  • Advised CBRE LS as special servicer in relation to the Debussy securitisation (Debussy DTC Plc), a securitisation of a loan secured by 30 mega retail stores and one distribution centre operated by Toys “R” Us (TRU) in secondary and tertiary markets. The team acted in relation to the settlement of a dispute between the parties as a result of LTV covenant issues following the administration and subsequent liquidation of TRU.


The 'highly experienced' team at Dentons 'combines intellect with commerciality', and is 'focused on getting the job done and achieving the best result for the client', across a wide spectrum of contentious and non-contentious mandates. The firm is well connected to numerous banking clients and IPs, ensuring that it handles a considerable volume of deals in the domestic mid-market. Led by the 'very experiencedNeil Griffiths, the team is perhaps best-known for its formal insolvency work and any commercial disputes (including fraud and asset tracing) that may subsequently arise. The 'effective and efficient' Tessa Blank is a 'force of nature' and is particularly recommended for contentious matters. Counsel Luci Mitchell-Fry is also recommended.

Responsables de la pratique:

Neil Griffiths

Les références

The highly experienced team is focused on getting the job done and getting the best result for the client.

The team is engaging to work with, understands the issues faced and provides suitably tailored advice.

A great set of intelligent and motivated partners, who combine intellect with commerciality.

The team is exceptional. They are very well-organised, thorough and you feel part of a team when (as external counsel) you work with them. The partners have an encyclopedic knowledge of their field.

Neil Griffiths is a very experienced practitioner, with strong client relation skills.

Ian Fox is particularly smart, both in terms of IQ and also emotional intelligence. He can read the clients needs and wants, and deliver.

Tessa Blank is a force of nature. She is effective and efficient and never loses sight of what needs to be done.

Jonathan Sears is one of the most intellectually engaged associates I have worked with.



Principaux clients


Knight Frank

Ernst & Young




FRP Advisory

Grant Thornton

Jackie Stephenson

John Lewis

Principaux dossiers

  • Acting for a syndicate of banks in relation to a major infrastructure restructuring, including negotiating a settlement amongst all key stakeholder groups including public and private entities to protect senior creditor interests and keep the project viable.
  • Advised shareholders of various train operating companies on matters relating to the potential termination of a rail franchise, with particular emphasis on achieving a solvent outcome.
  • Acted in a high-profile piece of litigation (the sub-debt litigation) following the collapse of Lehman Brothers in relation to a directions application by the administrators of LBHI2 estate.

Herbert Smith Freehills LLP

The 'highly professional' team at Herbert Smith Freehills LLP is well-equipped to handle big-ticket debtor/IP mandates (where it can also draw upon the expertise within complementary groups including corporate and employment), and creditor work for lenders, particularly within sector areas of strength for the firm as a whole, such as energy, infrastructure and travel. Leveraging the firm's overarching litigation credentials, the team is perhaps best known for its expertise handling contentious insolvency work, an area where it 'stands out as having brilliant legal strategists who are not afraid to have an opinion and run with it'. 'Energetic and hugely creative' litigator John Whiteoak heads the team and alongside the 'unflappable and hugely experiencedKevin Pullen, continues to represent the administrators in the long-running Nortel insolvency.    

Responsables de la pratique:

John Whiteoak

Les références

The team is highly professional but able to respond to clients needs by giving clear advice and flexing its approach to the specific client.

The firm stands out as having brilliant legal strategists who are not afraid to have an opinion and run with it. Experience shows they are almost always correct.

Kevin Pullen: unflappable, hugely experienced, excellent strategically.

John Whiteoak: high energy, would want him involved in any fraud or insolvency matter I litigate in England. Hugely creative, a great lawyer; enjoys what he does, and this shines through.


Principaux clients

Joint administrators of Nortel Networks UK Limited (NNUK) and 18 other Nortel Companies, Ernst & Young LLP

Birmingham Highways Limited (BHL)

Trustees of the Bristow Staff Pension Scheme.

Mr Neşet Koçkar (as equity investor in Thomas Cook) and his travel company Anex Tour (in relation to its purchase of Thomas Cook’s Russian and German businesses)

Non-executive directors of Carillion

Virgin Atlantic

TXU Europe Group Plc (in liquidation) and TXU UK Limited (in administration)

General Mills UK

Deutsche Pfandbriefbank

Mike Jervis and Zelf Hussain of PwC as liquidators of MP & Silva Limited

Hanover Investors in the context of the hostile takeover of Brady Plc

ArcelorMittal Tubular Products Jubail Company L.L.C.

Principaux dossiers

  • Continuing to advise IPs at Ernst & Young in their role as administrators to Nortel Networks’ EMEA entities.    
  • Advising Virgin Atlantic on its interests in the Flybe Group.
  • Advising in connection with the restructuring of the £200m PFI contract for the building and maintenance of the road system in Birmingham.

Jones Day

With a significant offering in London and also able to effectively mobilise resources across its wide spread of international offices (including in the US, Europe and Asia), Jones Day is well-positioned to advise key debtor and creditor-side stakeholders on both domestic and cross-border mandates. This was recently demonstrated by the London team's involvement, alongside practitioners from 15 other offices, in representing an ad-hoc group of senior lenders on the $1bn restructuring of the Syncreon group, which was implemented using an English Scheme of Arrangement. Contentious insolvency work remains a particular strength of the firm, an area in which 'very impressive' team head Ben Larkin is recommended.

Responsables de la pratique:

Ben Larkin

Les références

The team is particularly good at contentious insolvency.

The very impressive Ben Larkin and Sion Richards are excellent. I have done several cases with both of them and was consistently impressed by how efficiently they extracted settlements from the other side!


Principaux clients

Nicholas Guy Edwards and Philip Stephen Bowers of Deloitte LLP as Joint Liquidators of Angel Group Limited & Others

Geoff Rowley and Tony Wright of FRP Advisory LLP as Joint Administrators and subsequently as Joint Liquidators of BHS Limited

Andrew J. Johnson and Chad Griffin of FTI Consulting LLP as fixed charge receivers of the share capital in the BMI Healthcare group

British Land

Triton Investment Management Limited

Octopus Capital & Fern Trading

Abdulhameed Dhia Jafar

Brian Glasgow in his capacity as Bankruptcy Trustee of Harlequin Property (SVG) Limited

AG Retail Cards Limited t/a Clintons

Principaux dossiers

  • Advised Triton on the $1bn restructuring of German industrial group Galapagos group.
  • Acted for an ad hoc group of senior lenders comprising over ten US and UK hedge funds on the $1bn  restructuring of the Syncreon group, which was implemented using an English Scheme of Arrangement.
  • Acting for the insolvency officeholders of UK high street retailer, British Homes Stores, following the company’s high-profile collapse in 2016.

Mayer Brown International LLP

Praised for its ability to 'navigate complex legal situations in a commercial manner', the six-partner team at Mayer Brown International LLP is increasingly well-placed to handle complex, multi-stakeholder restructurings/insolvencies, as a result of a number of recent astute hires in London and its ability to leverage particularly strong US and Asian international resources. The 'unflappable, approachable and determinedDevi Shah has niche expertise handing pensions-related restructuring matters and co-heads the team alongside the 'hugely experiencedMichael Fiddy and Amy Jacks, who have more of a conventional restructuring/insolvency offering on behalf of IPs, banks and funds. The team was strengthened in 2020 with the hire of corporate lending & restructuring partner Trevor Borthwick from Allen & Overy LLP , as well as the arrival of Barry Cosgrave from K&L Gates LLP, where he was EMEA practice coordinator for the restructuring and insolvency group. Partner Jessica Walker left for Latham & Watkins . 

Responsables de la pratique:

Devi Shah; Amy Jacks; Michael Fiddy

Les références

A truly amazing restructuring and insolvency team that is very knowledgeable with the capabilities to manage complex situations.

The team has a reputation as leaders in the field of restructuring across a number of sectors. Their talent lies in being able to navigate complex legal situations in a commercial manner and to translate law into a user-friendly business context.

Michael Fiddy is hugely experienced, both inside and outside the law.

Amy Jacks has an incredibly strong work ethic and an ability to never lose sight of the big picture and required direction of travel due to distraction over the details.

Devi Shah has deep restructuring and financial services sector knowledge. She is very good to work with, showing excellent client relationship skills.

Devi Shah is unflappable, approachable and determined.

Alexandra Wood is very good.





Principaux clients



Ernst & Young

LBO France

Santander (UK) Group Pension Scheme

Alvarez & Marsal Europe

Pension Protection Fund

Debenhams Pension Schemes



Begbies Traynor

Mothercare Pension Schemes

Principaux dossiers

  • Advising Alvarez & Marsal, as the liquidators of Joannou & Paraskevaides (Overseas), a construction company operating in the Middle East, Europe and North Africa.
  • Acting for PwC as administrators of Secure Trading (t/a, the leading UK-based provider of omni-channel payment processing and business solutions in Europe and North America.
  • Representing the staff and executive scheme pension trustees of the Debenhams Pension Schemes.

Paul Hastings LLP

Paul Hastings LLP's restructuring offering in London may be smaller than some of its rivals but the team works effectively alongside practitioners from complementary firmwide practice groups - including corporate, banking, real estate and structured finance - and is consequently able to advise debtors and creditors on both domestic and cross-border formal insolvency mandates, as well as matters involving a more transactional approach. 'A real name in the market', team head David Ereira takes the lead on the most significant mandates handled by the office, including work on behalf of funds, corporates and IPs, in both domestic and cross-border contexts. During 2020, the team was boosted by the arrivals of restructuring and finance specialists Mei Lian and Peter Hayes from Shearman & Sterling LLP.

Responsables de la pratique:

David Ereira

Autres avocats clés:

Mei Lian; Peter Hayes; Crispin Daly

Les références

‘Exceptional restructuring, insolvency and finance practice. Very much in front of the market on technology and implementation.’

‘Razor sharp team, go-to choice for boards and creditor groups facing into complex corporate finance situations. Robust advisers who apply themselves situations with energy and impact to get the best for their clients.’

‘David Ereira is a real name in the market.’

‘Crispin Daly is well versed in complex and international insolvency issues.’

‘Crispin Daly has great intellect, exceptional attention to detail and wonderful client skills. He really is one to watch. A future star, if not already one!’

Principaux clients

Government of Jamaica

Global Cloud Exchange


EA Partners


Pizza Express

Park First

Principaux dossiers

  • Advising the founder and principal of Abraaj, formerly the largest emerging market private equity fund based in the Middle East with AUM in excess of $15bn, in constructing and implementing a global settlement on the insolvencies of Abraaj Holdings and Abraaj Investment Management Limited.
  • Advising QuickQuid, formerly one of the UK’s biggest payday lenders, and its parent company Enova, on FCA consumer redress, restructuring, and insolvency issues.
  • Advising the Government of Jamaica in connection with its joint venture in Jamalco, the largest and most important industrial business in Jamaica

Proskauer Rose LLP

Proskauer Rose LLP's London team 'combines all the advantages of a boutique (hands-on, every case matters attitude) with those of a major US firm'. The wider firm's leading position in the credit fund space is also beginning to filter through to the restructuring group.

Autres avocats clés:

Elisabeth Baltay

Les références

‘A very thorough, approachable, and commercial team.’

‘The firm has a mighty restructuring outfit that belies the relatively small size of the team. Their main strength is that they combine all the advantages of a boutique (hands-on, every case matters attitude) with all the advantages of a major US firm.’

‘They really understand the market and client needs, and are equally well equipped to deal with borrowers, lenders, and insolvency practitioners.’

‘Elisabeth Baltay is an excellent lawyer. She really goes the extra step for the clients. She knows her stuff and really cares!’

Principaux clients


Cheyne Capital

Contrarian Capital

David Rubin & Partners





Lion Capital





Intermediate Capital Group

National Basketball Association

National Football League


Principaux dossiers

  • Acted for GLAS, in its role as replacement security agent, in relation to the rectification appeal regarding the Four Seasons Hotel Group before the Court of Appeal.
  • Represented a large US- and UK-based direct lending fund in connection with the restructuring of its $80m financing of a records storage business.
  • Advised a large, pan-European debt fund which held both significant equity and debt interests, in connection with the restructuring of a UK casual dining chain.


CMS handles a range of formal insolvency and restructuring work  for a varied array of stakeholders, including banks, funds, IPs, corporates and directors. Rita Lowe is co-head of the finance team and as part of her broad-ranging restructuring expertise has developed a strong track record advising on law firm administrations. Other sector strengths include energy and real estate.

Responsables de la pratique:

Rita Lowe

Autres avocats clés:

Peter Wiltshire

DLA Piper

DLA Piper remains a very credible player for domestic mid-market work and added both David Manson from Paul Hastings LLP and James Davison from Addleshaw Goddard  in 2020 in a bid to rebuild the team following some departures in 2019. The hires add firepower to a sizeable national team operating out of London and throughout the regions. The 'very commercial and user-friendlyChris Parker heads up a London practice that has 'deep knowledge and expertise around formal insolvency procedures', as well as the ability to represent stakeholders in cross-border mandates by dint of the firm's extensive international network. A varied client roster includes banks, funds and IPs, ensuring the firm has a balanced perspective across the restructuring/insolvency process.

Responsables de la pratique:

Chris Parker

Les références

Good solid pragmatic advice, balanced with the right level of sophistication and nuance.

Exceptionally knowledgeable in their field with a clearly determination to deliver for their client.

The team displays deep expert knowledge, particularly around formal insolvency.

Chris Parker is very commercial and user-friendly: he is an experienced leader on complex and substantial cross-border mandates.

Jonathan Richards is very calm and effective; his client handling skills are excellent.

Jonathan Richards has an incredible way of bringing calm to a situation and reducing complex matters to simple understandable language.

Tim Dawson is an extremely effective and commercial lawyer.



Principaux clients

Alchemy Partners LLP

Alvarez & Marsal

Cheyne Capital



FTI Consulting

Hilco Capital




Principaux dossiers

  • Advising on some of the complex structure and arrangements put in place within the Abraaj group, restructuring and insolvency options, the appointment of replacement fund managers, litigation and liquidation strategy in relation to each of the funds and the impact of the parent company liquidations on the operation of the underlying funds.
  • Advising Bristow Group on contingency planning across multiple jurisdictions with respect to the restructuring of the US listed parent company and the group.

Macfarlanes LLP

Led by the 'highly impressiveJat Bains for restructuring and the 'technically very strongSimon Beale on the insolvency front, Macfarlanes LLP's 'smart and commercial' team is well hedged across the range of formal insolvency procedures, as well as distressed investment-related work. On the creditor front, the firm's growing presence at the front end of mid-market credit fund financings has led to a significant deal flow for the restructuring team and is an added source of work alongside the firm's steady stream of mandates for IPs and turnaround investors. Peter Baldwin's arrival in June 2019 from Ropes & Gray LLP has further enhanced the firm's distressed investment capability, given his expertise in the special situations field.    

Responsables de la pratique:

Jat Bains; Simon Beale

Autres avocats clés:

Peter Baldwin; Paul Keddie

Les références

Commercial lawyers focused on achieving the best outcome for their clients.

The service and responsiveness of the whole team, as well as the quality of their advice, is exemplary. They have gone above and beyond to be there whenever we have needed them.

Jat Bains’ approach is refreshing, he takes a commercial and pragmatic stance and is always focused on the right outcome for his clients.

Jat Bains: user friendly, helpful, knowledgeable, always makes himself available.

Paul Keddie provides clear and well thought through advice with a real focus on commercial outcomes.




Principaux clients

Alchemy Special Opportunities LLP

Better Capital LLP

FRP Advisory LLP

Oak Hill Advisors


Principaux dossiers

  • Acting for BDO on the multibillion-dollar administration of BSG Resources.
  • Acting for Castle Trust in relation to its schemes of arrangement in connection with its conversion to a bank.
  • Acting for certain subsidiaries of Four Seasons Health Care in relation to its ongoing £650m restructuring

Pinsent Masons LLP

Drawing on strong relationships with clearing banks and IPs, Pinsent Masons LLP is seen with great regularity on mid to upper-mid market UK-based insolvencies across a range of sectors, including retail, construction and healthcare. The 'technically excellent and commercially astuteSteve Cottee is appreciated by private equity fund clients for his ability to 'put himself in the mindset of an investor'. Cottee also spearheads the firm's market-leading distressed professional services offering, and has advised on many major law firm administrations, including his recent work on the pre-pack administration and sale of Ince & Co. Nick Pike heads the team.

Responsables de la pratique:

Nick Pike

Les références

‘The responsive team provides value-for-money, technical and highly commercial advice.’

‘Overall a very strong team which has depth in numbers and the ability to advise across a wide range of areas.’

‘Gemma Kaplan and Nick Pike are high-quality advisors, who are quick to respond and provide very clear and concise advice.’

‘Steven Cottee is arguably the leading restructuring partner in the UK. He is technically excellent, highly commercial and when on a deal becomes not just an advisor but a key member of the deal team and puts himself in the mindset of an investor.’

‘The exceptional Steven Cottee is commercial and sensible in his approach.’

‘Tom Withyman and Nick Gavin-Brown were both very calm in quite a challenging environment, gave good advice and always returned important calls promptly.’

‘Charles Maunder is our first port of call where directors require specific advice on their duties in restructuring and insolvency situations. He has a wealth of experience and understands both the technical legal aspects but also the need for commercial advice. His manner is also calm and reassuring, much valued properties on often stressful and urgent situations.’

Principaux clients

All UK clearing banks except the Bank of England






Grant Thornton

Alvarez and Marsal



Principaux dossiers

  • Acting for the Joint Administrators of Amicus Finance Plc on realising the substantial loan portfolio within the complex trust and securitisation structure.
  • Acting for RSM as administrator in relation to the failure of one of the UK’s largest peer to peer lenders, Lendy Limited.
  • Acting for the administrators of Ince & Co International LLP in relation to the pre-packaged administration sale of the business and assets of Ince & Co to Gordon Dadds Plc.

Norton Rose Fulbright

Co-headed by Sarah Coucher and James Stonebridge, the 'knowledgeable' nine-partner team at Norton Rose Fulbright provides 'thorough and pragmatic advice' to lenders, IPs, investors, corporates and directors across a wide range of contentious and non-contentious insolvency/restructuring issues. The team is particularly effective at handling cross-border mandates within the transport and energy sectors, where it is able to leverage the knowledge of industry experts from across complementary practice areas, including finance and corporate. It also benefits from an extensive international network. The 'thoughtful and commercial' Mark Craggs has a flourishing reputation in relation to cross-border mandates, including the consideration of EU insolvency law and the laws of other jurisdictions. The team was strengthened in February 2020 by the arrival of Alison Goldthorp from Addleshaw Goddard.

Responsables de la pratique:

Sarah Coucher; James Stonebridge

Les références

The team is thorough and provides pragmatic advice which cuts through the legalease.

Detailed knowledge and very practical advice without overlooking attention to the small, but nevertheless important, points. They created an environment in which our boards across the various jurisdictions could make decisions and take actions with confidence.

Mark Craggs has a thoughtful and commercial approach. He is easy to work with and understands our business context and pressure points. This sense of pragmatism comes through into his advice.

Mark Craggs provides timely, client-focused insolvency related advice on complex issues.

Mark Craggs is always approachable and helpful in providing effective and prompt support.




Principaux clients

The Bank of New York Mellon

Wells Fargo

DIF Infra 4 Limited

Bank of America Merrill Lynch

Credit Suisse


Mercuria Energy


Concordia Maritime



Standard Chartered Bank

Standard Bank

Societe Generale

First Rand Bank



DNB Bank

Bank Leumi


Principaux dossiers

  • Advised the indenture trustee on the two schemes of arrangement as part of the successful restructuring of the Syncreon Group and its $1.1bn debt.
  • Advised DIF Infra 4 Limited, the remaining shareholder of Inspiredspaces Bundle 5 (Ireland) Limited with the rescue restructuring and financing of completion works in relation to the Irish Schools Bundle 5 PPP project.
  • Advised the asset based lenders on the $1.2bn  restructuring of the Doncaster Group, a manufacturing group based in the UK, the US and Germany.

Simmons & Simmons

Able to draw on the firm's deep and longstanding strength within the asset management sector, Simmons & Simmons is particularly well-placed to advise funds/investors in restructuring and special situation scenarios. Ross Miller, who formerly worked in-house within Deutsche Bank's distressed products business, has an excellent perspective on behalf of investors seeking to realise value through distressed debt trading strategies. Peter Manning is also recommended.

Responsables de la pratique:

Peter Manning

Autres avocats clés:

Ross Miller

Principaux dossiers

Skadden, Arps, Slate, Meagher & Flom (UK) LLP

Led by Dominic McCahill Skadden, Arps, Slate, Meagher & Flom (UK) LLP's small two-partner team is traditionally best-known for its aptitude on the debtor front, where, as well as handling standalone mandates, it is also frequently brought in to advise on the UK/European aspects of major corporate mandates generated from the US. The arrival in February 2020 of US-qualified partner Peter Newman  from Milbank enhances the firm's bandwidth, in light of his strong hedge fund and private equity sponsor relationships and experience in the distressed investment space.

Responsables de la pratique:

Dominic McCahill

Principaux clients

British Steel Holdings Limited

Vantage Drilling Company (in liquidation)

Payoneer Inc.

Regiment Capital Ltd.

Noble Corporation

Toshiba Corporation

Sequana S.A.

Principaux dossiers

  • Invited by sponsor, Greybull Capital, to advise BSHL, which is the direct owner of British Steel Limited, as it sought to navigate the combination of a depressed steel market plus the weight of uncertainty caused by Brexit.
  • Advising the liquidators of Vantage Drilling Company on dealing with the consequences of the group’s Chapter 11 bankruptcy and reorganisation.
  • Represent Payoneer in its claims against Choice Bank Limited (in liquidation) in Belize.

Stephenson Harwood

The 'solid and experienced' three-partner team at Stephenson Harwood provides 'practical, commercial and technically astute advice' to IPs, funds and corporates, across a range of formal insolvency and corporate restructuring mandates. Able to draw from the firm's strong overarching commercial litigation credentials, the team is particularly accomplished at handling contentious insolvency matters, often with an international aspect (where it acts on its own as well as in collaboration with the firm's growing Hong Kong and Singapore teams). Praised for her 'calm and measured approach', team head Susan Moore has an 'excellent understanding of her clients' needs', and has developed a particularly strong reputation in relation to cross-border matters.

Responsables de la pratique:

Susan Moore

Les références

A solid and experienced restructuring and insolvency practice that is supported by a market-leading litigation offering for contentious insolvency matters.

The team has a very client-friendly approach, combined with good technical know how.

Susan Moore has an excellent understanding of her clients’ needs and is commercial and practical in her advice and support.

Susan Moore is one of the leading practitioners in the area, with great experience and a calm, and measured approach, whilst always looking for the best solution for the client.

Julian Cahn is bright, hard working and tenacious.

Paul Hollands gets down into the weeds with the client. Never forgets a relevant fact!

Principaux clients

Deloitte LLP




Interpipe Limited

FTI Consulting

Moore Kingston Smith


David Rubin & Partners


Principaux dossiers

  • Advising the Joint Administrators of Toys “R” Us on litigation concerning the validity of certain security arrangements entered into by the UK company prior to its administration and in connection with DIP funding arrangements for the wider US Chapter 11 proceedings
  • Advising the liquidator of Noble Group Limited, which was placed in liquidation following the sanctioning of schemes of arrangement to facilitate the completion of its restructuring.
  • Advising the joint receivers over the shares and assets of Blackpool Football Club (Properties) Limited, including the shares of Blackpool Football Club.

Travers Smith LLP

Travers Smith LLP's two-partner team punches above its weight and is able to effectively leverage the firm's private equity prowess to secure work relating to their distressed investments, as well as on behalf of investee companies experiencing financial distress. Led by Edward Smith , much of the firm's recent work has been in the beleaguered retail/casual dining space and the firm has developed a strong reputation in relation to the implementation of CVAs in the sector. Peter Hughes is the other partner in the team and has niche expertise advising pension scheme trustees on restructuring work.

Responsables de la pratique:

Edward Smith

Autres avocats clés:

Peter Hughes; Natalie Scoones; Kirsty Emery

Principaux clients

The supervisors of the Debenhams CVA

The Administrators of Laura Ashley

Trustees of the Arcadia Pension Schemes

Boparan Restaurant Group

Azzurri Group

Ann Summers

MySale Group plc

Marwyn Value Investors

The Administrators of Toys R Us

Carpetright plc

Principaux dossiers

  • Advised PwC, as administrators of noted homeware and fashion retailer Laura Ashley, on the sale of its brand to US restructuring and investment firm Gordon Brothers.
  • Advised KPMG as the supervisors of the Debenhams CVA through its proposal, challenge in the High Court and implementation.
  • Advised the Trustees of the Arcadia Pension Schemes on funding and security arrangements for the pension schemes, a central component of Arcadia’s CVAs.

Addleshaw Goddard

The arrival of Paul Fleming  from Dechert LLP in November 2019 is undoubtedly a statement of intent from Addleshaw Goddard, in light of his cross-border special situations expertise. However, the team remains focused on its traditional mid-market IP and bank-led restructuring work, with the 'commercially focused group' benefitting from a core offering in London - where the 'extremely effectiveFraser Ritson is a key practitioner - as well as across its regional offices, including Manchester. Alison Goldthorp joined Norton Rose Fulbright in February 2020.

Les références

The firm has a strong, commercially focused group of lawyers with strength in depth across the UK. They have sufficient resources to deal with extremely large and complex cases, whilst partners also remain involved and accessible on smaller matters of importance to their clients.

Fraser Ritson and Monica Duggal are an extremely effective team in dealing with complex and contentious matters in a commercial manner whilst protecting their client’s position.


Principaux clients

Deloitte as Administrators of Supercuts and Regis UK



Grant Thornton

Trustee in Bankruptcy of Sean Dunne




Principaux dossiers

  • Advised Deloitte as administrators of Regis UK, successfully assisting to save over 1000 jobs and granted licenses in respect of over 100 premises albeit the sale process continues to work through with deferred consideration payable.
  • Advising PwC as administrators of Lehman Brothers Limited in relation to “the waterfall litigation”, including the effect of subordination rights upon regulatory debt and the extent to which sums of up to £700m are paid between estates.
  • Advising HSBC Bank as lender to the casual dining chain “Jamie’s Italian Limited” and its associated and connected companies.

Bird & Bird LLP

Under the leadership of the 'very personable and knowledgeableJoss Hargrave Bird & Bird LLP's team excels in providing 'proactive and commercial' partner-led advice for IPs, investors and debtors across a range of restructuring and formal insolvency procedures. The team is particularly adept at handling matters within heavily regulated sectors, including aviation and financial services.

Responsables de la pratique:

Joss Hargrave

Autres avocats clés:

Claire Barker

Les références

The team is proactive, technically knowledgeable and has a commercial mind-set.

The very personable Joss Hargrave has good technical knowledge.

Joss Hargrave is always available 24/7, and we have found Joss to have that enviable skill of being able to translate a sticky and/or complex situation into good old plain English.

Joss Hargrave and Claire Barker are great and in addition to their detailed knowledge and experience, are also very easy to work with.


Principaux clients

Mothercare Plc

Fosun Tourism and Culture Group

Macquarie Bank

Starling Bank

Punjab National Bank

Duff & Phelps

Grant Thornton UK LLP



ReSolve Partners

Opus Restructuring LLP



Hermes Renewables

Tom Tom



Horn Holdings

London Luton Airport

Principaux dossiers

  • Advised Mothercare Plc and Mothercare Global Brands Limited in relation to a group restructuring that ultimately resulted in the placing of its UK trading subsidiary, Mothercare UK Limited, into administration and the sale of its profitable franchising business to a new Mothercare entity.
  • Advised Fosun Tourism and Culture Group, the world’s leading leisure-focused integrated tourism group, on its purchase of the Thomas Cook brand, the Casa Cook and Cook’s Club brands, and resort/hotel brands under the Thomas Cook brand for £11m.
  • Advised Cubits on its restructuring and ultimate administration after its $33m fraud. Cubits was one of the world’s leading crypto currency trading platforms.

Dechert LLP

Leveraging the firm's overarching asset management expertise, Dechert LLP's sweet-spot lies in representing funds clients as creditors in complex contentious and non-contentious international restructurings/insolvencies. Solomon Noh 's arrival in February 2020 from Shearman & Sterling LLP was a significant hire for the team, particularly in light of his ability to provide US Chapter 11 advice to clients on the ground from London. Paul Fleming joined Addleshaw Goddard in November 2019.

Responsables de la pratique:

Adam Plainer

Principaux clients

The Joint Liquidators of Webinvest Limited (in liquidation)

Noteholders of Public Joint-Stock Company Commercial Bank PrivatBank

Funds managed by Franklin Templeton Investment Management Limited

Principaux dossiers

  • Advising funds managed by Franklin Templeton Investment Management Limited in a high-profile challenge to the restructuring of $500m high yield notes issued by the International Bank of Azerbaijan.
  • Advising the Joint Liquidators of Webinvest Limited (in liquidation) in two related multi-party actions in the Chancery Division seeking to unwind a series of complex fraudulent transactions designed to render Webinvest “judgment proof” in the run up to its liquidation in late 2014.
  • Advising the holders of Loan Participation Notes (LPN) indirectly issued by PrivatBank in litigation following the nationalisation of PrivatBank and “bail-in” of the LPNs.


With experts spread across the firm's London, Manchester and Birmingham offices, the 'engaging, responsive and proactive' team at Fieldfisher provides a 'high level of technical expertise' to a broad array of stakeholders, engaged in both formal insolvency matters, as well as restructuring and distressed transactions. Although it is active across a range of industry sectors, the team is able to add particular value to matters within the retail, life sciences, and energy spaces.  'As technically excellent as a savant but as commercial and personable as a barrow boy', Stewart Perry  'brings a common sense practical view to delivering solutions that reflect the law but which are dominated by common sense rather than legal technicalities'

Autres avocats clés:

Stewart Perry; Michelle Shean; Carly Schiff ; Kit Jarvis

Les références

The team provides a high level of technical excellence. They have fantastic lawyers, who are knowledgeable in their field, give good honest advice and understand what the client is looking for.

The team at Fieldfisher are exceptional at client service. It appears to be a key part of their model that clients become familiar with not just one partner but a range of partners.

They are engaging, responsive and proactive.

Stewart Perry: As technically excellent as a savant but as commercial and personable as a barrow boy: a rare combination.

Stewart Perry brings a common sense practical view to delivering solutions that reflect the law but which are dominated by common sense rather than legal technicalities.

Carly Schiff: a brilliant, down-to-earth but hard-as-nails expert lawyer.

Carly Schiff is exceptionally responsive, practical and incredibly effective. Her technical skills are impressive and her ability to understand the commercial implications and find efficient resolutions that work with the companies strategy.




Principaux clients

SPS Technology Holdings Limited

Infrastrata Plc


Grant Thornton

Duff and Phelps




FRP Advisory

Kreston Reeves

Principaux dossiers

  • Advised numerous individuals who held credit default swaps collectively worth in excess of £250m in the Thomas Cook restructuring, advising on the terms of the proposed scheme of arrangement and whether an insolvency procedure could be recognised in order to trigger the swaps.
  • Acted for the administrators of Pinnacle in a case involving potential property fraud.
  • Acting for the liquidators of Goldtrail Travel Limited in pursuing claims against the former directors and connected parties for dishonest transactions, pursuant to which the client was awarded £10m plus in damages.

Fried, Frank, Harris, Shriver & Jacobson LLP

Led by the 'highly experienced and very effectiveAshley Katz , the 'small but dynamic' team at Fried, Frank, Harris, Shriver & Jacobson LLP has a 'knack for finding innovative solutions' for creditors and debtors, including funds, directors and IPs. Often working seamlessly with finance, real estate and litigation lawyers from the London office and also regularly tapping into the significant resources in situ from New York, the team's particular sweet-spot lies in relation to advising on complex cross-border contentious and non-contentious matters.

Responsables de la pratique:

Ashley Katz

Autres avocats clés:

Imran Aslam; Amy Faraday; Mandip Englund

Les références

The team is very efficient, works seamlessly and ensures continuity round the clock, taking advantage of their international presence, especially in New York and in London. They have great resources and a very talented team of people that promote clients’ interests.

They are innovative and hardworking. It is a small but dynamic team with very quick response times and clever ideas.

Ashley Katz is a very effective, highly experienced, insolvency and restructuring specialist.

The energetic and focused Ashley Katz has a wealth of knowledge, is well networked, commercial and good at technical detail.

Ashley Katz has great legal knowledge, an eye for detail and a knack for finding innovative solutions.

Amy Faraday has an excellent work ethic and displays superb attention to detail.



Principaux clients

Jack Wills

Sberbank of Russia

Centerbridge Partners

Simon Conway and Jess Shakespeare of PwC

Related Companies

The Gaucho Restaurant Group

Powerleague Group


Principaux dossiers

  • Advising the company and the administrator, in relation to the £25m restructuring and pre-packaged administration sale of the Jack Wills business to Sports Direct.
  • Advised the board of directors of the Powerleague Group on the £34m restructuring of the group’s debt obligations, which was ultimately achieved via a company voluntary arrangement.
  • Represented Sberbank in a successful challenge against an application made to the English courts by the International Bank of Azerbaijan (the ‘IBA’), pursuant to which the IBA sought an order for a permanent moratorium against creditor action in England and Wales.

K&L Gates LLP

Leveraging its strong international footprint, particularly across the US, Asia Pacific and the Middle East, K&L Gates LLP excels in advising a myriad stakeholders, including funds, IPs, suppliers, corporates and directors, on contentious and non-contentious cross-border distressed situations, particularly within the aviation, energy and retail sectors. The team is led by Jonathan Lawrence  - whose expertise runs the gamut of solvent corporate reorganisations as well as insolvent situations.

Responsables de la pratique:

Jonathan Lawrence

Autres avocats clés:

Clare Tanner

Principaux clients

Ahmad Hamad Algosaibi & Brothers Company (AHAB)

LKQ Corporation/Euro Car Parts

Hakkasan Limited

Knight Frank LLP

CSC Capital Markets UK

Berkeley Research Group

Halliburton Energy Services

Flexibility Apparel


Franchise World Headquarters (Subway)

Qatar Free Zone Authority

MAF Clothing

OSI Systems, Inc


GLAS Trust Corporation

Duff & Phelps


Mount Street

Deutsche Bank

Grant Thornton

Silver Rock Financial

OIA Global

Rapiscan Systems

Link Asset Services

FRP Advisory

US Bank Trustees

Arcadia Group

Arena Racing Corporation

Rainmaker Investments

Macquarie Bank

Smith & Williamson

Seafolly Pty

Boralex Inc.

Healthcor Management

Davidson Kempner

Longulf Trading Limited

BlueBay Asset Management

Sandglass Capital Management

Pala Assets Holdings Limited

RAI Investments PTE LTD.

GML Capital

VR Global Partners, L.P.

Santca Capital GP Ltd

IVO Capital Partners

Bank of America Merrill

Principaux dossiers

  • Advising Formula One® in relation to an opposed petition to wind up a debtor.
  • Advising major supplier to Jack Wills on a claim in its administration.
  • Advising Knight Frank as receivers of a multimillion- pound residential property.

Taylor Wessing LLP

Led by Nick Moser , Taylor Wessing LLP's restructuring and insolvency team  advises funds, IPs and corporates across a broad range of creditor and debtor-side mandates, from both a formal insolvency perspective, as well as on more transactional distressed investment related mandates. Given the firm's  intellectual property and venture capital credentials, it is perhaps unsurprising that a fairly sizeable amount of work handled by the team relates to distressed technology-related entities. Another area of strength for the team lies in its ability to handle pensions-related restructurings.

Responsables de la pratique:

Nick Moser

Autres avocats clés:

Amy Patterson; Stephen O’Grady

Les références

‘Nick Moser is an insolvency expect with strong industry track record, in-depth knowledge and accessibility.’

Principaux clients

White Oak


Smith & Williamson LLP


LK Bennett management team

Grant Thornton

Duff & Phelps



Alix Partners

Baker Tilly BVI

Principaux dossiers

  • Advised British Steel’s senior secured lender, White Oak, on all aspects of this corporate collapse.
  • Advised the ultimate majority shareholder on all aspects of Arcadia Group’s restructuring, through seven inter- dependent CVAs, debt and equity financing, and pensions contributions.
  • Advised the management team of high-profile retailer, LK Bennett, on all aspects of its pre-administration contingency planning.

Willkie Farr & Gallagher (UK) LLP

The 'exceptionalGraham Lane oversees a 'very talented and down-to-earth' seven-strong team at Willkie Farr & Gallagher (UK) LLP, that 'works well across practice areas' and overseas offices (including alongside the US and Paris groups). Although it does handle some debtor work - generated as a result of distressed private equity portfolio companies - the firm's sweet-spot lies in creditor/investor side mandates for funds engaged in large cross-border situations involving complex capital structures.

Responsables de la pratique:

Graham Lane

Autres avocats clés:

Iben Madsen; Alexander Roy

Les références

A truly exceptional team, that works well across practice areas and offices.

It is rare to find a group of highly talented people with such a down-to-earth approach.

The team has a pro-active, client-focused approach.

Graham Lane is an exceptional lawyer and his team’s culture, professionalism and behaviour demonstrates that his leadership is also highly effective.

Graham Lane and Iben Madsen are both very user-friendly, supportive and knowledgeable.

Iben Madsen is a super lawyer, with a great sense of humour.

Alexander Roy is a star.


Principaux clients

Monarch Alternative Capital

Apollo Management International

Cheyne Capital

Credit Suisse Asset Management

CVC Credit Partners

GoldenTree Asset Management

Tikehau Capital

Grant Thornton UK


TOR Investment Management

Spartan Race, Inc.

Principaux dossiers

  • Represented the coordinating committee of senior secured noteholders on the comprehensive financial restructuring of Lecta’s €600m senior secured notes and refinancing of Lecta’s €65m super senior revolving credit facility, implemented by way of an English Scheme of Arrangement, a US Chapter 15 and a Spanish Homologación Judicial.
  • Advising Spartan, Inc. on its acquisition of the business and certain assets of Tough Mudder Limited, in administration.
  • Advised Apollo and Monarch Alternative Capital on the $107m disposal of listed aerospace manufacturer Latécoère, following Latécoère’s debt-for-equity restructuring in 2015 (on which the firm also advised Apollo and Monarch).

Cadwalader, Wickersham & Taft LLP

Cadwalader, Wickersham & Taft LLP's London restructuring offering may not be the force it once was but it still has a number of US-qualified lawyers able to work with funds clients  and collaborate with the New York office on cross-border mandates. US-qualified partner Gregory Petrick heads up the team and splits his time between London and New York.

Responsables de la pratique:

Gregory Petrick

Autres avocats clés:

Richard Nevins

Principaux clients


Toisa Limited (Informal Ad Hoc Secured Lender Committee)

Principaux dossiers

  • Advising bond insurer, MBIA, in multiple capacities, including with respect to restructuring efforts and potential litigation, relating to two distressed collateral loan obligation investment funds which it has significant exposure to.  
  • Advising an informal ad hoc secured lender committee as creditors to Toisa Limited on its Chapter 11.

Charles Russell Speechlys LLP

Operating from London and Guildford, Charles Russell Speechlys LLP's 'exceptional' five-partner team handles the full spectrum of formal insolvency and restructuring work, both in a corporate setting as well as in relation to personal insolvencies. Benefiting from a high degree of flexibility on fees, which includes acting on a contingency basis as well as through third-party funding, the firm is perhaps best-known for its contentious insolvency expertise, including as it relates to cross-border fraud and asset tracing. Sector strengths include sports, private wealth and real estate. James Hyne heads the team.

Responsables de la pratique:

James Hyne

Autres avocats clés:

Hanh Nguyen; Jason Freedman; Tom McLachlan

Les références

The team is exceptional, both in terms of their technical knowledge and client interaction. The lawyers offer sound, practical advice and are willing go the extra mile to maximise their clients’ chances of success.

The exceptional Jason Freedman provides measured, commercial advice, that is technically sound but also practical. He is always willing to go the extra mile for his clients and is able to simplify complex issues.

Hanh Nguyen is very thorough and has excellent judgement.


Principaux clients

CVR Global LLP

Adrian Hyde and Edgar Lavarello (trustees in bankruptcy of Gregory King)

POD Food Limited (in administration)

Principaux dossiers

  • Acting for the liquidators of a former payroll company that operated to the detriment of HMRC including issuing proceedings against four respondents and obtaining a worldwide freezing order.
  • Acted for the appointed Administrators of a leading clothing retailer in relation to the sale of their retail brands and the associated intellectual property rights to the purchaser.

Druces LLP

Co-headed by Neil Hayter and Christopher Axford, the 'knowledgeable and responsive' team at Druces LLP provides 'accurate and cost efficient' advice across the full range of restructuring and insolvency work, including complex restructurings, directors’ duties/corporate governance advice and insolvency litigation. The firm has developed a particularly strong track record for handling restructuring and administration in the care sector, as well as claims against directors involving investigatory work.

Responsables de la pratique:

Christopher Axford; Neil Hayter

Les références

A no-nonsense team, they deliver what you need, when you need it, in a cost-efficient fashion.

The team is knowledgeable and responsive.

A good smaller team to take up your case, also not as many conflict issues as some firms.

Rachel Brown is superb  – tough but fair.

Rachel Brown – identifies the issue quickly and looks for the best possible solution. Very comfortable with insolvency and restructuring issues.

Caroline Cropley is exactly what you’d hope a senior associate would be. She ‘owns’ the account, she knows what needs to happen, when it needs to happen and how to get it done.


Principaux clients

Montreux Healthcare Fund Plc

The Pickstock Group

Quantuma LLP

Rocket Software

Principaux dossiers

  • Acting for the liquidator of an English company defending and successfully settling a High Court claim for damages in excess of $10m.
  • Acted for a healthcare fund on an acquisition and the restructuring of the group comprising 22 subsidiaries.
  • We advised on the English law elements of a £25m group restructuring, designed to streamline the group’s foreign elements into an English holding company.

Eversheds Sutherland (International) LLP

Led from London by Simon Waller, and also able to tap into the expertise of lawyers from across the firm's regional network of offices, Eversheds Sutherland (International) LLP is well-positioned to advise administrators, banks and corporates across a range of primarily domestic mid-market restructuring and insolvency work. Although it is sector agnostic, the team has built up a particularly strong track record handling mandates within the financial services, retail and energy sectors.

Responsables de la pratique:

Simon Waller

Autres avocats clés:

Jamie Leader; Alexander Mehdevy

Les références

A breadth of experience and expertise with a helpful geographical spread.

The team provides responsive, commercial and knowledgeable advice.

Jamie Leader can always be relied upon to suggest the right commercial solutions to difficult problems.

The responsive, knowledgeable and friendly Alexander Mehdevy provides commercial advice.


Fladgate LLP

Fladgate LLP provides 'pragmatic and responsive advice' to a range of stakeholders, including insolvency practitioners, debtors and directors. Under the guidance of the 'very calmJeremy Whiteson, the team remains strong on contentious UK-based mid-market matters. The 'personable and very brightBen Drew has a strong reputation handling insolvency-related disputes within the financial services sector.

Responsables de la pratique:

Jeremy Whiteson

Autres avocats clés:

Ben Drew

Les références

Fladgate has a good blend of highly experienced corporate insolvency partners with access to a strong financial services and regulatory practice, which is not that common outside of the very large legal practices.

The practice has always provided pragmatic advice in a responsive manner.

Jeremy Whiteson has a novel approach to dealing with difficult issues and has an air of calmness about him.

Jeremy Whiteson demonstrated a good knowledge of both corporate and insolvency law. He was pro-active, very user-friendly, strategic and commercial in his approach. I would thoroughly recommend him.

Bree Taylor is energetic and clear thinking.

Ben Drew is very personable and bright.

Ben Drew provided sage advice in a complex situation, where delivery of difficult messages in a robust but empathetic manner was important.


Principaux clients

Fly Victor Limited

Toys R Us

Anthony Batty & Co.



David Rubin & Partners

Grant Thornton



James Cowper Creston

B and C Associates



Principaux dossiers

  • Acting for the liquidators of Dial a Cab Credit Union which went into liquidation with a deficit of approx £22m. Work includes pursuing a number of claims against those who borrowed money from the Credit Union and have failed to repay.


Since joining in 2019 from Addleshaw GoddardSimon Thomas  has made a transformational difference to Goodwin's nascent London restructuring practice and has been able to leverage the firm's existing private equity/venture capital funds ties and real estate expertise, to pursue various restructuring and insolvency opportunities. Team head Thomas is appreciated for his 'good judgement and empathetic style', and is ably assisted by a growing team of associates that include the 'hardworking, responsive and commercialOonagh Steel.

Responsables de la pratique:

Simon Thomas

Autres avocats clés:

Oonagh Steel; Emily Lockhart

Les références

The team at Goodwin was very informed and responsive.

I have always found the individuals very personable and enjoyable to work with.

The responsive and commercial Simon Thomas has good judgement and an empathetic style.

 Simon Thomas is innovative and technically sound.

 Oonagh Steel is hardworking, responsive and commercial.


Principaux clients

Medical Properties Trust

Cambridge Broadband Networks Limited

Insulet Corporation

Pacific Alliance Group


New Look

Thomas Cook



InMotion Ventures

Principaux dossiers

  • Involved in the the pre-acquisition debt restructuring associated with Advised Medical Properties Trust Inc’s £1.5bn purchase of 30 private hospitals in the UK from a group of hedge funds.
  • Assisted with the proposed rescue attempt utilising English Schemes of Arrangement prior to the collapse of Thomas Cook.
  • Assisting Inmotion Ventures on the administration process related to its investment into ARC Vehicle Limited (which is developing an environmentally sustainable motorcycle) and its efforts to find a way to rescue the business.


Fully integrated with its offices in Australia and Hong Kong, Lipman Karas LLP's 'extremely diligent and hardworking' two-partner London team has an 'exceptional focus on large-scale cross-border insolvency litigation', for IPs and commercial clients. The 'unflappableJeremy Scott  is 'very knowledgeable' and co-heads the team alongside Andrew Ford .    

Responsables de la pratique:

Andrew Ford; Jeremy Scott

Autres avocats clés:

Lucas Arnold; Caroline Mattin

Les références

The team is extremely diligent, hard-working, creative and innovative.

The team has worked collaboratively and effectively with international lawyers and insolvency practitioners, and secured some good results

Lipman Karas specialises in commercial litigation, much of which has an insolvency or corporate law angle. They are instructed on many high-value commercial disputes and have considerable experience in this area. As a firm, they have very good lawyers from top to bottom.

The firm has an exceptional focus on cross-border, large-scale insolvency litigation.

Jeremy Scott is an experienced litigator.

Jeremy Scott is hugely experienced, very knowledgeable in the law and unflappable.


Principaux clients

Al-Gosaibi family as part of the Saad liquidation

The joint receivers of various entities in the African Minerals mining group

The Liquidators of Carlyle Capital Corporation

The joint liquidators of the Kingate Funds (Madoff feeder funds)

The liquidator of the largest creditor of The Bell Group Ltd (in liquidation)

Principaux dossiers

  • Lead global counsel for the court appointed liquidators on investigations and litigation in Guernsey and the US concerning the collapse in 2008 of Carlyle Capital Corporation (CCC), a $22bn hedge fund affiliate of the Carlyle Group, one of the world’s largest private equity hedge funds. Appeal to Privy Council being heard in late 2020.
  • Advising (with K&L Gates) on the first scheme of arrangement ever attempted in Saudi Arabia concerning the claims of more than 100 international financial institutions on claims running into the billions of dollars.
  • Instructed by the joint receivers to advise them on strategy in relation to a raft of high profile and varied litigation in the English courts and in respect of the revocation of mining licenses in Sierra Leone.

Michelmores LLP

Appreciated by clients for its 'very commercial and effective advice', Michelmores LLP has developed a particularly strong reputation in the market for its 'sensible and pragmatic advice to directors as they traverse complicated restructuring processes, large or small'. Consequently, the firm has been involved in numerous high-profile mandates, including its recent representation of the board of directors in Galapagos' €1bn restructuring.

Autres avocats clés:

Douglas Hawthorn

Les références

‘Michelmores provides practical, specific, useful advice and were always willing to assist, whatever the time of the day.’

‘The team provides very commercial and cost-effective advice.’

‘Our go-to firm for sensible, pragmatic advice to directors – as they traverse complicated restructuring processes, large or small.’

Principaux clients

Bullitt Group Limited

Alix Partners UK (Marme)

Board of Directors of Galapagos Holding S.A and Galapagos S.A

Sourceable Limited (trading as Swoon) and KPMG

Board of Directors of Karen Millen Group

Board of Directors of Eddie Stobart Logistics Plc

David Rubin and Partners (Avara Avlon)

Board of Directors of Bob Martin (UK) Limited

Board of Directors of Flybe PLC

Board of Directors of CashEuroNet LLC

Principaux dossiers

  • Advised the boards of directors of Galapagos Holding S.A and Galapagos S.A. the issuers of junior and senior debt of approximately €1bn in aggregate in connection with their debt restructuring.
  • Advising 45 companies in the Four Seasons Healthcare restructuring that operated homes with leasehold (as opposed to freehold) interests.
  • Advising the board of directors of Flybe Plc in connection with its restructuring, sale of Flybe Ltd and Scheme of Arrangement.

Quinn Emanuel Urquhart & Sullivan, LLP

Praised for its 'first-rate case preparation', Quinn Emanuel Urquhart & Sullivan, LLP  'brings deep litigation expertise to the insolvency market'for IPs bringing claims on behalf of insolvent estates, as well as for junior and dissentient creditor funds seeking to realise value from their investments. The 'responsive, bright and engagedRobert Hickmott and Richard East, who is appreciated for his willingness to 'think outside the box', co-head the team.

Responsables de la pratique:

Richard East; Robert Hickmott

Autres avocats clés:

Matthew Bunting; Yasseen Gailani

Les références

The team is knowledgeable, hard working and efficient.

The firm brings deep litigation expertise to the insolvency market. The evidence and case preparation is first-rate.

Robert Hickmott is responsive, bright, and engaged.

Robert Hickmott is a highly experienced and energetic partner, who gets results.

Richard East is the superstar. He’s a man of tremendous energy and very committed to his clients. He thinks very clear about strategy and the potential avenues by which a case might developed. It is rare to see a lawyer so determined to achieve a result for his clients.

Richard East has a very determined and innovative approach, and is always prepared to think outside the box in order to get a result for his clients.

Yasseen Gailani is a new and up-and-coming partner. He has a fantastic legal mind and is very switched on as to the pitfalls that his clients may face.


Principaux clients

Joint administrators of JD Classics Limited (in Administration)

Joint Receivers of assets pledged to a bank as security.

Phones 4u Limited (in administration)

Pacific Investment Management Company LLC

Signal Credit Opportunities (Lux) Investco II S.a r.l.

Fairhold Securitisation Limited

Receivers and Managers (who are partners at BDO) of the Libyan Investment – Authority

Principaux dossiers

  • Advising the joint administrators of a former leading dealer of prestige and classic vehicles in realising value for the estate via the pursuit of a multi-pronged litigation strategy aimed at generating recoveries sufficient to repay £75m+ of secured and unsecured debt.
  • Representing a group of funds who held bonds issued by Banco Popular Español, which was acquired by Banco Santander in June 2017 for €1 under a ‘bail-in’ deal brokered by the European Single Resolution Board (SRB) under a new European-wide regime. Consequently, the firm is pursuing proceedings on behalf of the funds against multiple parties in multiple jurisdictions.
  • Acting for the estate of Phones 4U Limited in its action against network operators O2, Telefonica, Vodafone, EE, and former EE shareholders Orange and Deutsche Telekom. The claim alleges that anti-competitive conduct and bad faith on behalf of the defendants led Phones4U to enter into administration and suffer loss.

Reed Smith LLP

Reed Smith LLP advises IPs, corporates and banks,  across the spectrum of contentious and non-contentious insolvency/restructuring mandates. Leveraging industry specific experts from throughout the firm's offices, including in Europe, Asia and the US, the team adds particular value to funds clients on their distressed investments in core firmwide sector strengths, including shipping and energy.

Autres avocats clés:

Diane Roberts; Anthony Riddle


Co-headed by Paul Bagon and Finella Fogarty , who both recently joined from Rosenblatt and DWF, respectively, RPC maintains its strong position in the insurance space, but is also increasingly exploiting opportunities across other sectors, from both a formal insolvency and restructuring perspective. The team is instructed by a range of stakeholders, including IPs, boards of directors and companies, which appreciate its 'commercial approach to difficult situations'. Former longstanding team head Vivien Tyrell recently retired.

Responsables de la pratique:

Finella Fogarty; Paul Bagon

Autres avocats clés:

Tim Moynihan; Danielle Bennett

Les références

The team has a commercial approach to difficult situations.


Principaux clients

Sports Direct International – Jack Wills Limited (in Administration)

Phoenix Light SF DAC

Manolete Partners Plc – Evershine Travel (in Liquidation)

Nigel Rackham & Mike Jervise (both of PwC) as Joint Provisional Liquidators of Newmarket Corporate Member Limited

Geoff Rowley and Jason Baker of FRP Advisory LLP as the joint administrators of International Mining & Infrastructure Corporation Plc (in administration).

Principaux dossiers

  • Acted for Dr Vijay Mallya in relation to defending bankruptcy proceedings brought by a consortium of 13 Indian Banks for an alleged debt of £1.4bn.
  • Acted for FRP Advisory LLP, the administrators of an AIM-listed parent of a Cameroonian Mining Company holding four exploration licences in Cameroon, which owed circa $220m to creditors including $180m of loan notes.
  • Acted for a key creditor of Ballantyne Re, Plc which used an Irish scheme of arrangement to restructure its reinsurance obligations and outstanding indebtedness.

Shearman & Sterling LLP

Shearman & Sterling LLP  is in the process of rebuilding its City restructuring team in the wake of a number of departures. In summer 2020 the firm announced the hire of former Weil, Gotshal & Manges (London) LLP partner Alex Wood to expand its European restructuring efforts. Wood's practice covers all aspects of financial restructuring and insolvency, with experience advising corporates, sponsors and creditors on restructurings and insolvencies. His hire came after Solomon Noh  left for Dechert, while Mei Lian joined Paul Hastings LLP.

Autres avocats clés:

Sam Brodie; Alex Wood

Les références

Sam Brodie is very responsive.’