Global Restructuring Group
Our unrivalled restructuring and insolvency team, with more than 150 lawyers specialising in restructuring across over 40 offices globally, is truly world class.
Markets face a wide range of persistent macroeconomic challenges: high inflation, rising interest rates, slower growth and supply chain disruption. At the same time, businesses have to tackle structural change, higher debt and tightening liquidity. Allen & Overy's Global Restructuring Group is uniquely positioned to help our clients as stressed and distressed activity increases. Our expertise allows us to assist clients wherever they may encounter distress, whether as debtor, sponsor, par lender, distressed investor, liquidity provider, insolvency officeholder or as another key stakeholder. We are not restricted to one part of the restructuring and insolvency market. Our lawyer bench allows us to lead the market in corporate, financial institution and sovereign distress, and we are central to the creation and negotiation of innovative solutions for our clients.
The most complex situations demand expertise across markets where our clients operate, both cross-border and cross-sector. We have lawyers working on restructuring and insolvency matters in the US, the UK, across Europe, Africa, the Middle East, Asia and Australia. We also have the depth of in-house expertise needed to execute restructuring transactions, including in capital markets, leverage finance, high yield, real estate finance, litigation, projects, energy and infrastructure, structured finance, derivatives, financial regulation, tax, corporate, employment and pensions. Our sector coverage and geographical reach means that we can drive complex restructurings from start to finish.
Our experience
Uniper SE
Uniper SE on the EUR33bn stabilisation package, which was agreed between Uniper, the German Federal Government and the major former Uniper shareholder Fortum Oyj. After the partial implementation of the stabilisation package, including a cash ordinary increase in the amount of EUR8bn, the first partial utilisation of the newly resolved authorised capital in the amount of EUR5.5bn (out of EUR25bn) and the acquisition of all Uniper shares previously held by Fortum by the German Federal Government, the German Federal Government held 99 % in Uniper at the end of 2022. Further partial utilisations of the remaining authorised capital (EUR19.5bn) will follow depending on Uniper’s further losses.
Allen & Overy acted as lead adviser on the entire structuring of the transaction, including the general meeting, the agreements between the German Federal Government and Uniper, the agreements between Uniper and Fortum, all aspects of corporate law, capital market law, merger control law and FDI issues.
Hong Kong Airlines Limited
Vroon Group B.V.
Greensill Capital (UK) Limited
Advising Grant Thornton UK LLP, the administrators of GCUK and advised Greensill Capital (UK) Limited in the lead up to the administration. With USD17.7 billion of assets managed by Greensill at the date of administration this has been one of the largest and most high profile UK insolvencies in recent times.
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Our Global Restructuring team. Paving the way.
News and insights
Publications: 03 April 2024
The growing role for CLOs in restructurings
Collateralised loan obligations (CLOs) are back in favour in financial restructurings, helped by their dominance in leveraged credits and greater flexibility in documentation. First featured in…
Publications: 18 March 2024
SGX Proposals to Facilitate Restructuring and Resumption of Trading by Issuers
The SGX has published a consultation paper on Proposed Enhancements to Corporate Restructuring Framework and Trading Resumption Framework. The changes proposed seek (among other things) to facilitate…
Publications: 29 January 2024
Global Restructuring 2024: Managing transition
Scanning the horizon of the global restructuring landscape in 2024, partners from our market-leading global restructuring practice provide, on both a global and regional basis, insights into the…
Publications: 21 December 2022
Harmonising EU Insolvency: perspectives from France, Germany and the Netherlands
The European Commission has proposed a new directive harmonising certain aspects of insolvency law. Proposals on clawback, pre-packs and directors' duties (among others) will be of interest to…
Recognition
They have a talented pool of partners supported by an equally effective team of counsel, senior associates and associates. They never seem to struggle to put capable lawyers onto a matter.
Chambers Europe 2023: Restructuring / Insolvency - client quote
They provide very clear analysis of different options with recommendations. The lawyers are able to put themselves into the shoes of the stakeholders, and able to drive the process.
Chambers Greater China Region 2023: Restructuring / Insolvency (International Firms) - client quote
The quality of their output and their responsiveness is second to none. They are also able to focus on the key points of the situation at hand and suggest potential solutions.
Chambers UK 2023: Restructuring
…the team ‘always provide top quality advice’ and ‘exceptional service in high-pressured situations and tight time frames.
Global Restructuring Review 2022: client quote
