The Legal 500 > Europe, Middle East & Africa > France > Insolvency

De Pardieu Brocas Maffei is regularly called upon to advise on the market’s most high-profile cases, notably those raising highly complex financing and cross-border issues. The eight-lawyer practice, which can also rely on available complementary corporate and finance expertise, is the top choice for banking creditors, while debtors also turn to the team for sensitive cases. The firm was recently involved in a high volume of headline cases, many involving listed companies and major retail groups, often under an LBO scheme. Leading market figures Philippe Dubois and Joanna Gumpelson direct the team. Ségolène Coiffet is also very strong and Paul Talbourdet is involved on the financing aspects. Alexis Rapp, who made counsel in 2019, provides key support. Banking and finance and restructuring counsel Simon Le Wita is also noted.

Weil, Gotshal & Manges LLP's well-established practice, which had remained very stable for a long period of time, went through a major reshuffle in 2019. Star partner Philippe Druon joined Hogan Lovells (Paris) LLP after Fabienne Beuzit had left for Jones Day. In response, Anne-Sophie Noury, who had set up BDGS Associés's practice in 2016, returned to her former firm in spring 2019 to support the market's godfather figure Jean-Dominique Daudier de Cassini. The duo now leads an eight-lawyer team that is likely to grow further in 2020. The practice, which also regularly draws on the firm's M&A and financing expertise, advises debtors and leading investment funds, but also occasionally takes on instructions on the creditor-side. Regularly involved in landmark cases, the group recently advised Rallye and its subsidiaries on their safeguard and multi-billion euros debt restructuring proceedings, and acted on several cases in the retail sector.

In a short period of time, practice head Saam Golshani  and Alexis Hojabr have since their arrival in late 2018 succeeded in establishing White & Case LLP's practice among the elite. Drawing on the firm's leading complementary finance and capital markets expertise, the 12-lawyer restructuring and insolvency team attracts many of the market's largest instructions. The practice is retained by banks and investment funds alike to deal with complex and sophisticated matters often raising major international issues. Recent work includes restructuring and insolvency matters pertaining to listed companies, major privately-owned companies as well unitranche and LBO groups. Céline Domenget-Morin joined Goodwin in 2019.

Willkie Farr & Gallagher LLP was recently in very high demand for assistance with high-profile safeguard and insolvency cases. The group notably handled key matters in the retail and industrial sectors and acted for bondholders and investment funds on several landmark cases relating to listed companies and involving large debts. Key restructuring debt matters involving LBO and listed companies and EuroPP investments account for another significant portion of the caseload. Additionally, the practice is able to handle cross-border cases and is experienced in advising investors on major asset take-over offers. A recent highlight matter was advising a company on a third restructuring plan.  Lionel Spizzichino is the head the practice. Since publication, Alexandra Bigot joined Latham & Watkins.

Bird & Bird strengthened its practice through hiring Romain de Ménonville as partner in 2019, who was previously counsel at Hogan Lovells (Paris) LLP and whose expertise in assisting banks is highly valued. With the joined forces of de Ménonville and Nicolas Morelli as co-heads of the practice and the key support from counsel Céline Nézet, the firm now offers a strong bench that focuses on advising banks, debt funds and other creditors. The group also assists companies whose key suppliers are facing difficulties and insolvency procedures, notably in the automotive sector. A clear stand-out feature is the team's rare expertise in advising trustees (fiduciaires) and liability and other related litigation. The practice acts on several landmark debt restructuring and insolvency cases, notably pertaining to several listed companies, on behalf of banks or bondholders.

Bredin Prat's seven-lawyer team is very experienced in advising on debt restructuring, insolvency and distressed M&A matters. The firm has strong ability to handle matters pertaining to listed companies. It is managing a good volume of restructuring and insolvency matters from a variety of sectors, but with a particular focus on the retail sector, often acting on behalf of shareholders and debtors. The firm is involved in several landmark cases, including Camaïeu's safeguard proceedings. Nicolas Laurent and Olivier Puech co-head the practice.

Darrois Villey Maillot Brochier is retained by debtors and investors to handle highlight cases. The firm offers strong expertise in managing matters involving listed companies and notably assisted Rallye and its parent companies with their safeguard proceedings. The practice plays a major part in several of the market's landmark restructuring and insolvency cases, especially in the retail sector. Litigation is also dealt with. François Kopf is in charge. Also involved are Emmanuel Brochier and associate Mathieu Della Vittoria.

Restructuring and insolvency boutique Lantourne & Associés has longstanding experience in handling market-leading cases, especially in the retail and leisure sectors, and is often involved in highly challenging and complex financial cases raising new legal issues, thereby contributing to shaping the market. The firm also houses complementary state-of-the-art litigation expertise. Clients include debtors and investment funds. Maurice Lantourne and Flavie Hannoun co-head the practice. Kristell Cattani left the firm to start her own practice in January 2020.

Racine represents creditors and debtors in restructuring and insolvency proceedings. The firm handles a high volume of cases, including several significant market matters, and fields a varied caseload involving LBO, listed companies, agri-business companies, major industrial groups and small and medium-sized enterprises. Antoine Diesbecq and Laurent Jourdan co-chair the practice which includes Emmanuel Laverrière as another key member.

Altana regularly advises debtors, but also acts for creditors such as bondholders and commercial partners. The practice was recently involved in several notable restructuring and insolvency cases and advised on a major asset take-over transaction in the food sector. Litigation is also dealt with. Michel Jockey and Pierre-Gilles Wogue both have extensive experience. Also involved are Julien Balensi and Mana Rassouli, who made partner in 2019.

Archers A.A.R.P.I. has a very strong practice able to advise debtors and shareholders on major debt restructuring and insolvency proceedings. The firm was recently involved in several stand-out cases, notably in the hotel and retail sectors. Practice head Fabrice Patrizio is highly recommended. Finance partner Jean-Maurice Gaillard also contributes.

August Debouzy's Laurent Cotret advises debtors on several major restructuring and insolvency cases. The practice also acts on a good volume of smaller insolvency matters and takes on work for shareholders, commercial partners and investors. Finally, the practice assists with asset take-over bidding on distressed companies.

Dentons advises debtors and creditors. Headed by Audrey Molina, the practice recently handled several restructuring and insolvency cases in the retail and distribution sector. The team also assisted Havas Voyages with its takeover of Thomas Cook France. Finally, the practice acts on several US-French and cross-border European matters.

FTPA has a solid team of six lawyers who are involved in several landmark cases. The practice acts for debtors, judicial liquidators and creditors. It is involved in a major cross-border case and also acts on key matters from the press, retail, real estate and transport sectors. Litigation is also dealt with. The practice is co-headed by Serge-Antoine Tchekhoff, Bruno Robin, who has rare expertise in acting as trustee (fiduciaire) in insolvency cases, and Edouard Fabre.

McDermott Will & Emery AARPI's Timothée Gagnepain assists debtors, buyers, creditors and shareholders. Gagnepain acts in French restructuring and insolvency proceedings and regularly advises on cross-border cases. He also assists private equity funds and industrial companies with the takeover of distressed companies and handles related litigation. He was recently involved in several landmark cases.

Norton Rose Fulbright 's Philippe Hameau has extensive experience in restructuring and insolvency cases. He acts for debtors and French and international banks and investors, with recent work including a headline matter in the aviation sector and a string of significant cases in which Hameau advised the creditors. Cross-border cases involving African states is another area of expertise.

Peltier Juvigny Marpeau & Associés' Nicolas Partouche regularly assists judicial liquidators, but also advises investors, banks and debtors. He is involved in several highlight insolvency and restructuring matters and handles a good volume of smaller cases. Clients also increasingly turn to him for high-stake related strategic litigation.

Boutique firm Poulain & Associés, formerly named Poulain Cren, totals six lawyers who are able to cover the full spectrum of insolvency and restructuring situations. The practice assists debtors and handles a good volume of cases involving small and medium-sized entreprises. Through Jean-Paul Poulain, who ranks among the most experienced advisers in France, the boutique is retained to manage high-profile cases. The team was involved in several top matters in the retail sector and in a key case in La Réunion. Amandine Rominskyj, who made partner in 2019, and Antoine Poulain are the two other key members. Olivier Cren left the firm.

Insolvency boutique firm Barbier Legal mainly assists SMEs facing difficulties, at various stages. Founding partner Jérôme Barbier and his associate Diane Beaupuy also sometimes act for creditors and shareholders, and advise investors on possible asset takeover transactions.

Bersay' Dimitri-André Sonier  mainly assists insolvent companies, and also advises investors during asset takeover transactions.

CBR & Associés' Olivier Debeine often advises debtors, commercial partners and judicial administrators. He acts in restructuring and insolvency proceedings and also handles related litigation.

Clifford Chance recently strengthened its practice through the hiring of the well-regarded Delphine Caramalli who arrived from insolvency boutique Bremond & Associés. She joins forces with Reinhard Dammann and counsel Gilles Podeur who regularly advise banks and judicial liquidators. The firm has notable expertise handling cross-border restructuring work or involving trustees and security-law issues.  is another

DS Avocats eight-lawyer team advises debtors and investors, including Asian investors, in dealing with restructuring and insolvency proceedings. The firm also has a strong practice consisting in assisting investors putting forward asset take-over offers. The team is chaired by the greatly experienced Martine Zervudacki-Farnier has long-standing experience. Also involved are Jean-Charles Gancia, Christian Pascoët, Thomas Objatek and of counsel Jean-Yves Marquet.

Goodwin started its practice in 2019 after hiring a four-lawyer team led by the well-regarded Céline Domenget-Morin, formerly of White & Case LLP. The practice advises debtors and creditors. It also deals with related litigation.

Jones Day hires a three-lawyer team from market's leading player Weil, Gotshal & Manges LLP to launch its practice in the course of 2019. The team, made up of Fabienne Beuzit, counsel Elodie Fabre and associate Rodolphe Carrière, advises all types of stakeholders including debtors, shareholders and banks. It is involved in several landmark cases, and also assists venture and startup companies facing difficulties.

Orrick Rambaud Martel combines strong finance and insolvency expertise through the complementary duo made up of banking and finance partner Emmanuel Ringeval and insolvency and restructuring partner Carine Mou Si Yan. The practice advises banks and investment funds. It is involved in several market highlight cases.

Renault Thominette Vignaud & Reeve's Jason Reeve acts for debtors and creditors.

Shearman & Sterling LLP's Pierre-Nicolas Ferrand assists debtors and banks in refinancing and restructuring situations. The practice is involved in several major matters in the textile sectors and is also managing several cross-border cases.

Towery started its practice in 2018 after Samuel Scherman joined from well-known boutique Lantourne & Associés. Assisted by one associate, he regularly assists debtors facing financial difficulties at various stages. Samuel Scherman also advises investors during asset take over bids, and handles liability litigation.

Veil Jourde acts for all types of stakeholders including shareholders, bondholders, as well as debtors and potential investors involved in restructuring and insolvency cases. Nassim Ghalimi who heads the practice, successfully assisted famous Parisian restaurant Le Dôme in dealing with major difficulties. The highly experienced Georges Jourde only handles a very limited number of cases but is often consulted or involved in market’s landmark cases. He is advising Fashion Holding Luxembourg in Camaïeu’s debt restructuring. Géraud Saint Guilhem also contributes to the practice for distressed M&A transactions.

Vivien & Associés' insolvency and restructuring practice is led by Laurent Assaya who regularly advises companies and investors in assets take over bids. The three-lawyer team also acts for debtors and shareholders. It assisted Electrolux Home Products France in its involvement in Société Ardennaise Industrielle's insolvency proceedings.