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Restructuring & Insolvency 


Linklaters' global restructuring and insolvency lawyers handle the world's most challenging and significant domestic and cross-border assignments.

The team comprises restructuring and insolvency specialists throughout Europe, the Americas and Asia, who work closely with the firm’s top tier finance and corporate practices. They also have experience of other relevant areas of law, such as tax, employment, real estate, intellectual property and litigation & arbitration.

Creditors, including banks and other financial investors and steering committees, insolvency practitioners, corporate debtors and their directors/officers rely on the team’s leading restructuring and insolvency expertise. This encompasses debt restructuring and rescheduling, equity capital raising and restructuring, distressed M&A activity, investigation, asset tracing and insolvency litigation, formal insolvency procedures and contingency planning, distressed creditor and equity investment and trading and debtor advisory work.

Recent restructuring and insolvency experience includes: 

  • Wells Fargo as agent to the first lien lenders in the chapter 11 cases of Sabine Oil & Gas and its affiliated debtors on over US$1bn of debt
  • Afren - advised the EBOK lenders on the restructuring and subsequent insolvency
  • Lomin - advised the international lenders on the US$360m extension of Lonmin plc’s existing credit facility
  • Towergate Insurance Group - advised on its £1bn financial restructuring
  • Vivarte Group - advised a group of lenders in relation to the restructuring of the Vivarte Group’s c.EUR2.8bn syndicated debt facilities. The deal is the largest ever LBO restructuring in France
  • ZIM - advised the co-ordinating committee in connection with the US$3.4bn debt restructuring of ZIM, the Israeli global container shipping company. This is one of the largest and most complex debt restructurings in the shipping industry in recent years
  • hibu - advised the co-ordinating committee of secured creditors in relation to the restructuring of the hibu Group’s c. £2.3bn syndicated debt facilities
  • eircom - advised in connection with its €3.8bn debt restructuring
  • Lehman - on-going lead role advising PwC as administrators on the administration of Lehman Brothers International (Europe)
  • Biffa Group Limited - advised on their £1.1bn debt restructuring
  • Deloitte LLP in its role as Joint Administrators on the administration of HMV Group plc
  • Marken - advised the lenders in relation to global specialist logistics business Marken
  • Fitness First - advised Oaktree Capital Management and Marathon Asset Management in relation to the loan-to-own restructuring of Fitness First
  • Petroplus - advised the lenders through ING Bank N.V. as agent and security agent and since the onset of insolvency, a separate team advised the joint administrators of the UK companies that are in administration
  • Dubai Group - advising the co-ordinating committee of the secured/unsecured creditors on the leading Dubai Group LLC restructuring
  • Arcapita - advising Arcapita in connection with its restructuring negotiations with its various constituencies of lenders and its central bank regulator
  • Bankas Snoras - advising the temporary administrator and subsequently the bankruptcy administrator of Bankas Snoras, a Lithuanian universal bank with international operations and the largest deposit taking institution in Lituania
  • GAME - advised the bank lenders to GAME Group plc (led by RBS) in connection with GAME's financial difficulties and a separately advised PwC as Administrators of The GAME Group plc and certain of its subsidiaries
  • NCP - advised the steering committee in connection with the restructuring of National Car Park (NCP)
  • Panrico - advised Oaktree Capital Management on the debt and equity restructuring of Spanish and Portuguese bread business, Panrico
  • Eastman Kodak - advising US parent Eastman Kodak in connection with the non-US impact of its Chapter 11 filing in New York, and related rest of the world restructuring
  • DTZ - advised the lenders on the restructuring and pre-packaged sale of DTZ
  • Jarvis Hotels - advised the Royal Bank of Scotland plc as lender and Grant Thornton as administrator in connection with the restructuring of Jarvis Hotels
  • Endemol - advised lenders on the restructuring of Endemol
  • Seat Pagine Gialle - advised Italian telephone directories and street maps publisher, Seat Pagine Gialle, in connection with its debt restructuring
  • European Directories - advised the senior lenders on the restructurings of the European Directories group
  • Battersea Power Station - advised Lloyds Banking Group and NAMA as the lenders to the previous owners in respect of the restructuring of the acquisition facilities in connection with Battersea Power Station and subsequently advising Ernst & Young as Administrators and Receivers

Contact

Richard Bussell

Partner

(44 20) 7456 4672

richard.bussell@linklaters.com

 

Rebecca Jarvis

Partner

(44 20) 7456 4466

rebecca.jarvis@linklaters.com

Negotiating Europe's LBO debt mountain

Negotiating Europe’s LBO debt mountain report

Our new Europe’s LBO debt report collects market knowledge and our views and experience on issues concerning the management of refinancing LBOs, and analyses the options for addressing this refinancing need.

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