Business Restructuring and Insolvency
, Hong Kong
, New York
The global recession has left many companies with shrinking asset values and heavy debt burdens. Reduced liquidity combined with the Eurozone crisis has proved challenging for borrowers, lenders and government bodies alike. Debt maturities on a huge volume of high yield bonds have continually been pushed back, and defaults are seemingly at record lows. Thus, despite signs of recovery in some economies, most commentators believe that the economic stress will continue for many for a number of years to come.
Insolvency and restructuring is a well-established core practice area for Hogan Lovells. We are based in the financial hubs of Europe, the Middle East, Asia and North America and are ideally placed to advise on both domestic and multi-jurisdictional transactions.
Our leading global restructuring and insolvency team comprises highly experienced lawyers who operate with an in-depth knowledge of the local legal, regulatory and commercial environments within which they work. By drawing on leading individuals from other practice areas including capital markets, litigation, real estate, employment, intellectual property, tax and pensions, we are able to build a team which is tailored to each individual transaction. We are renowned for our collaborative and pragmatic attitude and our solutions-based approach to transactions — and for our exceptional commitment to clients.
We advise a wide variety of traditional stakeholders in restructuring and insolvency cases, both in the bankruptcy courts and in out-of-court restructurings, and are equally experienced advising companies, insolvency administrators, and creditors at all levels of the capital structure. We are increasingly called upon to advise less traditional stakeholders including pension trustees and governmental and quasi-governmental bodies such as the FSA, the German “bad banks", the Icelandic treasury and NAMA, the Irish "bad bank". This gives us strong practical experience of the technical and commercial issues facing stakeholders and the drivers for their behaviour in a restructuring or insolvency scenario.
We have a strong and market-recognized insolvency practice with a proven track record in delivering restructurings through insolvency mechanisms when necessary as well as in advising on pure insolvency issues. We are also experienced in financial institution restructuring and insolvency, including our ground-breaking work on the liquidation of BCCI, our work on the SIV insolvencies, and our on-going work for clients in a number of jurisdictions on the Lehman and MF Global insolvencies.
Awards and Rankings
- Banco Popolare
- Bank of America Merrill Lynch
- Barclays Bank PLC
- Clearwater Capital Partners
- Deloitte LLP
- Deutsche Bank AG
- Ernst & Young LLP
- Erste Abwicklungsanstalt (EAA)
- FMS Wertmanagement
- Ford Motor Company (including FCE Bank plc)
- FTI Consulting
- ING Bank
- Intesa San Paolo
- King Street Capital Management
- Koch Industries Inc
- KPMG LLP
- Linden Advisors
- Lloyds Banking Group plc (incorporating Bank of Scotland plc)
- Österreichische Volksbanken-AG
- QVT Financial LP
- PwC LLP
- Rockport Group
- Standard Chartered Bank
- The Royal Bank of Scotland plc
- U.S. Bank, N.A.
- Wilmington Trust N.A.
- ‘Restructuring Deal of the Year’ at the International Finance Law Review (IFLR) Asia Awards, 2012
- ‘Restructuring & Insolvency Firm of the Year,‘ Asian-Counsel, 2010
- Top-tier ranking for insurance insolvency, Chambers 2012 and Legal 500, 2012