The Legal 500

Weil, Gotshal & Manges has built the type of practice that many peers envy. The team, led by superb duo Jean-Dominique Daudier de Cassini and Philippe Druon, is tremendously efficient on distressed LBO work and a key adviser in most of the market’s leading cases. The practice represented several shareholders in the Coeur Défense case, and Saint-Gobain Desjonquères (SGD) on its restructuring.

De Pardieu Brocas Maffei’s practice is made up of ‘highly professional and experienced lawyers’ who have built ‘one of the strongest networks in France’. The ten-lawyer team is led by Philippe Dubois and the ‘remarkable and business-oriented’ Jacques Henrot, while Paul Talbourdet, Matthieu Barthélemy and of counsel Joanna Gumpelson are also key figures in the practice. The firm is strongly regarded for creditor and litigation work, acting in many of the market’s leading cases. It advised Thomson on its debt restructuring and safeguard proceedings, the finance lease creditors in Nortel’s insolvency, and members of the steering committee in CMA CGM’s debt restructuring.

Gide Loyrette Nouel A.A.R.P.I.’s practice has a strong reputation through the ‘extraordinary’ Olivier Puech. Thanks to its comprehensive expertise and international capabilities, the firm regularly acts in the market’s most high-profile cases. Recently, it represented Eurotitrisation in Cœur Défense and Orco Property on its safeguard proceedings.

Santoni & Associés’ Marc Santoni is a ‘prominent figure’, especially as an advisor to shareholders and lenders. The five-lawyer team handles numerous mandates, acting in most of the market’s high-profile cases including LBO restructurings. The firm, which works in close collaboration with Allen & Overy LLP, represented the debtor company on Terreal’s restructuring and Goldman Sachs in Coeur Défense.

Sonier & Associés has an impressive track-record and a leading market figure in Gabriel Sonier. The four-partner practice also includes Bertrand Chauchat, Caroline Texier and newly promoted partner Nassim Ghalimi. The team advises investment funds, distressed companies and law firms, and represented a committee of bondholders in the Belvédère and Thomson cases.

Willkie Farr & Gallagher LLP stands out for its ‘high availability, technical skills and strong team’. The eight-lawyer practice is highly recommended for its ‘very smart duo combination’, made up of the ‘very technical’ Alexandra Bigot and the ‘creative’ Maurice Lantourne. The team handles many of the market’s top restructuring cases with leading capabilities on distressed LBOs. Highlights included acting for CMA-CGM on its debt restructuring, and Oaktree as lead investor in SGD.

Ashurst LLP enjoys increasing recognition thanks to its ‘friendly’ and ‘trustworthy’ team. On the procedural side, practice head Jean-Pierre Farges and Eric Bouffard lead the firm’s advice, while a strong finance team including James Collis and Laurent Mabilat, a lawyer with ‘thorough strategic vision’, is available for debt restructuring work. The firm has received a constant flow of instructions since 2009, acting for distressed companies, creditors and shareholders, and handling a high amount of LBO restructuring work. It represented Mecachrome, Trèves and assisted the senior lenders in the Monier and CPI cases – the first two lender-led restructuring cases.

Success story Bremond & Associés is regularly instructed to advise on top cases with Guilhem Bremond enjoying warm recommendations from peers. The firm recently assisted Keyria on its safeguard proceedings and Vogica on its insolvency proceedings.

Clifford Chance counts in its ranks one of France’s leading insolvency specialists in Reinhard Dammann, whose academic knowledge in the field is second to none. He is regularly appointed to advise in the most high-profile cases, representing the insolvency administrator in Thomson’s safeguard proceedings and the creditors’ representative in Coeur Défense.

Freshfields Bruckhaus Deringer LLP’s impressive track-record helped the firm secure a very high-profile instruction on Thomson’s restructuring, where it advised the bank steering committee and senior creditors. The team, led by Alan Mason and Antonin Besse, is adept at handling restructuring work involving complex finance and securities aspects. It also acted in Chargeurs’ restructuring and Descamps’ insolvency proceedings.

Linklaters LLP’s major strength lies in the firm’s capabilities to cover the full spectrum of restructuring and insolvency work (corporate, finance, tax, litigation). The practice, led by Aymar de Mauléon de Bruyères and including Cécile Dupoux, receives a constant flow of work from shareholders, lenders and distressed companies. In 2010, the team continued to represent PricewaterhouseCoopers in the Cœur Défense and Dame Luxembourg cases, and assisted Legris Industries in Keyria’s insolvency proceedings.

Orrick Rambaud Martel’s ‘very responsive and commercial’ practice is ‘very good for sophisticated investors and Anglo-Saxon clients’. The team is led by Jean-Pierre Martel and Saam Golshani, who is recommended for his ‘strategic vision and depth of experience’. The ‘very bright and commercial’ Matthieu Grollemund, who joined as of counsel in 2009 from Paul, Hastings, Janofsky & Walker LLP in New York, is also a strong addition to the group. The practice represented some senior creditors and bondholders on Technicolor’s safeguard proceedings.

Veil Jourde’s Georges Jourde is one of France’s finest litigators and a much sought-after advisor for complex insolvency cases. The firm represented the trustee in Cœur Défense.

Allen & Overy LLP is a reference for debt restructuring work through finance heads Rod Cork and Adrian Mellor. The firm has a busy practice, handling major CMBS, property and LBO debt restructuring work on the lenders’ side. Having signed a strategic agreement with Santoni & Associés, the two-firm combination attracts high-profile cases, the firms representing several major creditors of the steering committee in CMA-CGM’s restructuring.

Altana has a ‘very good’ experienced team in Michel Jockey, Pierre-Gilles Wogue and Julien Balensi, who all left Salans at the end of 2009. The five-lawyer group has a busy practice, handling large restructuring cases, notably in the property and LBO areas. It represented two major stakeholders in Coeur Défense and Bouvet on its restructuring.

Bredin Prat gained its recognition in the field after setting up France’s first pre-pack arrangement in the Autodistribution case in 2009. The team, made up of Nicolas Laurent, Olivier Assant and finance expert Raphaële Courtier, was highly active in 2010, handling major distressed M&A, restructuring and safeguard cases. It represented SNCF in the safeguard recovery proceedings of its subsidiary SeaFrance, and Saint-Gobain as main shareholder in SGD’s restructuring.

Cleary Gottlieb Steen & Hamilton LLP is a good choice for highly technical financial and corporate restructuring work through Fabrice Baumgartner and François Jonemann. Jean-Yves Garaud is also heavily involved in the practice on the litigation side. The firm has outstanding capabilities to deal with global restructuring projects, such as in Nortel. The team advised on a number of strategic matters on the domestic and European markets, representing shareholder Arcapita on Vogica’s restructuring.

Dewey & LeBoeuf LLP’s Philippe Hameau is ‘very good’ and has wide experience handling high-profile cases. The team represents shareholders, funds and debtors. It acted for Autodistribution on its restructuring.

Gibson Dunn’s ‘excellent team’ delivers a ‘superb service’, earning instructions on high-profile cases. The practice is led by Bernard Grinspan, Benoît Fleury, who generally acts for funds, and Jean-Philippe Robé, whose ‘sharp advice’ is praised by issuers and debtors. Partners are ‘available night and day, weekend included’, ‘outcome driven’ and ‘very easy to work with’. Highlights included representing Dame Luxembourg and Coeur Défense in the eponymous case, and Dexia on its restructuring in the US and Europe.

Led by the ‘very smart’ Hervé Diogo Amengual, Latham & Watkins’ practice also includes finance specialists Xavier Farde and Etienne Gentil and corporate partner Thomas Forschbach. The team acts for lenders, bondholders and shareholders, representing Cognetas and Sagard as majority shareholders on SGD’s restructuring.

At Paul, Hastings, Janofsky & Walker (Europe) LLP, the ‘smart’, ‘very dedicated’ and ‘really skilled’ Sandra Esquiva-Hesse is in charge of the restructuring practice. The busy team handled major cases in the automotive and industrial sectors, representing Huit Diffusion on its insolvency proceedings.

Théron & Associés’ Christophe Théron has ‘large experience’ representing private equity funds. The firm acted in the Mécachrome case and assisted IGF-Industries AFR on Arbel Fauvet Rail’s restructuring.

UGGC & Associés is one of the market’s top advisors for administrator work. Bernard Grelon is a familiar figure in the field, while Thierry Montéran is also recommended.