International Restructuring and Insolvencies
The Restructuring & Corporate Recovery group is a cross-jurisdictional team of over 20 specialists advising on some of the most complex and high-profile restructurings and insolvencies in Europe, the Middle East and beyond.
The group regularly advises international lenders, bondholders and other institutional creditors, corporations, their directors and shareholders, insolvency practitioners and unsecured creditors in those businesses which are in or anticipating financial difficulties. The expertise across the cross jurisdictional team, with members of the team acknowledged in major legal directories, includes formulating strategies and enforcement options for secured lenders, advising directors on their duties, obligations and the restructuring options available, assessing and advising on purchasing the business and assets of a distressed business and acting on any litigation involving or arising from the insolvency.
Our experience extends to acting on some of the most complex and high value restructurings in Europe and beyond, often involving groups with interests in multiple jurisdictions and managing the various steps required to achieve a successful outcome. Our unparalleled knowledge of the insolvency regimes around the world enables us to recommend strategies beyond the obvious.
In addition, our group frequently undertakes contentious work relating to international insolvencies and corporate recovery situations and is adept in using alternative dispute resolution techniques where they are appropriate.
Recent notable engagements:
- Advising the trustee of the Madoff estate on international litigation and asset tracing arising out of the Madoff fraud, involving cross-border insolvency issues. We have recently been successful in our application to intervene in the Supreme Court hearing of Rubin -v- Eurofinance, which is one of the most significant cases in the UK on cross-border insolvency for 100 years.
- Advisor to a bank within the context of on going negotiations aimed at restructuring an acquisition financing plan exceeding 350 millions Euros, this credit having been granted to several entities held by an international investment fund in order to purchase hotels in various European cities.
- Acting for Primondo Speciality Group GmbH in the insolvency of its shareholder Primondo GmbH and its ultimate Arcandor AG, the largest insolvency proceeding in Germany in 60 years.
- Advising the insolvency administrator Mr. Plathner as trustee over the assets of SIAG Schaaf Industrie AG, a supplier for wind power industry with more than 4000 employees working in ten group entities in Germany, Czech Republic, Egypt and the USA.
- Advising and acting in relation to the litigation in Belgium for a major Japanese bank as a main creditor of the defaulting Belgian holding company of a major retail group.
- Advising the court appointed "mandataire de justice" in a formal reorganisation proceeding of an important Belgian group of five companies in the transportation and logistics business.
- Acting for an Irish lender in respect of the enforcement of a debt portfolio totalling £1.8bn involving property and insolvency processes in England, Ireland, Scotland, Spain, Germany, BVI, Isle of Man and Jersey.
- Advisor to an international bank within the context of a renegotiation of a mortgage loan granted to an ad hoc entity having purchased an office building in the Parisian region.