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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

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

Hong Kong Airlines Limited

A&O advised an ad hoc group of noteholders in relation to the restructuring and recapitalisation of Hong Kong Airlines effected pursuant to a Hong Kong scheme and parallel UK restructuring plan. Our role included advising noteholders on the terms of the restructuring, the impact of the UK restructuring plan on their interests, representing noteholders in court in the UK and negotiating the restructuring with Hong Kong Airlines. 
Vroon Group B.V.

Vroon Group B.V.

Acting for Vroon Group B.V. and Lamo Holding B.V. on the corporate and financial restructuring of the Vroon Group by way of the first ever parallel Dutch WHOA and English scheme of arrangement proceedings. 
Greensill Capital (UK) Limited

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.

Our Global Restructuring team. Paving the way.

News and insights

Four skyscrapers against a blue sky

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…

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Modern office buildings

Publications: 26 January 2024

The Adler appeal: our key takeaways

In this alert, we explore the key takeaways from the landmark Court of Appeal judgment setting aside the Adler restructuring plan, and what it means for future restructuring plans.

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Sigrid Jansen

News: 25 January 2024

Sigrid Jansen new senior partner Allen & Overy Netherlands

As of 1 February 2024, Sigrid Jansen will be appointed senior partner of Allen & Overy Netherlands. She succeeds Brechje van der Velden, who leaves the firm after 27 years. Sigrid Jansen will jointly…

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A road in Brussels illuminated at night

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…

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Recognition

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