Operating from offices in both Mexico City and Monterrey, specialist boutique Del Castillo y Castro Abogados is a strong choice for bankruptcy matters. The team’s expertise encompasses restructuring, workouts, insolvency, general civil litigation and arbitration. Moreover, the group – whose members stand out for their ‘great experience and customer service’ – handles both the transactional aspects of restructurings (securities issuances) as well as the judicial side (concurso mercantil and litigation), representing both debtors and creditors. The practice is jointly led by the firm’s founding partners: Fernando Del Castillo, a specialist in insolvency, civil and mercantile litigation and arbitration; and Alfonso Castro, who brings corporate, banking, finance and capital markets experience to the table. Associate Karla Gabriela Silva  assists with civil and commercial litigation, workouts, insolvency, commercial arbitration and other alternate dispute resolution methods. Linda García de Alba was promoted to the partnership in January 2023. Since publication, Silva has left the firm – effective as of January 2024.

Boutique firm Guerra, Hidalgo y Mendoza (GHM) specialises in advising individuals, companies, banks and government institutions on bankruptcy, restructuring, litigation, arbitration and other dispute resolution methods. The team is lauded as ‘extremely capable and practical, with technical depth’, and ‘well-equipped to handle highly complex matters’, and is led by a trio consisting of Jesús Ángel Guerra Méndez, ‘one of the best insolvency and restructuring lawyers in Mexico’, who also handles civil, commercial, and corporate litigation; Elias Mendoza, who deals with civil, commercial, administrative, and bankruptcy litigation; and Patricio Hidalgo, whose practice encompasses litigation, bankruptcy procedures and alternative dispute resolution mechanisms. The key contacts at associate level are Sandra Trejo, Adrián Villamil and Patricia Cervantes, all of whom are well-versed in litigation.

The ‘highly sophisticated’ team at Nader, Hayaux y Goebel, SC handles the range of bankruptcy and restructuring matters such as strategic positioning and strategic alliances, structuring, coordination and litigation, leveraged buyouts and debt-to-equity swaps. The practice also has a strong track record in highly complex cross-border insolvency issues. Whilst the department has historically focused on representing creditors, such as banks and insurance funds, it has recently represented debtors in high-profile cases involving the real estate, oil and aviation sectors. It is co-led by a duo well-versed in restructuring and workouts: Javier Arreola and name partner Michell Nader – who is lauded for his ‘imaginative approach to complex issues’ and ‘long-standing expertise’. Partner Adrián López G. and senior associate José A. Noguera also advise on high-profile insolvencies, and are key contacts at the group. Since publication, Noguera has been raised to the partnership - effective as of January 2024.

Sainz Abogados houses a strong bankruptcy and restructuring practice which is praised as having a ‘deep knowledge of the Mexican insolvency system’ and a ‘great combination of deal-making and litigation capacity in cross-border restructurings’. Combining transactional and litigation expertise, the team of ‘true experts’ offers assistance on in-court and out-of-court bankruptcy and restructuring proceedings, cross-border reorganisations and insolvency procedures, concurso proceedings and workouts. At the helm of the group, ‘elite insolvency lawyer with a world class cross-border practice’ Alejandro Sainz has led on some of the market’s most significant bankruptcy and restructuring matters of recent years (including Unifin Financiera, Alpha Credit, Oro Negro, Aeroméxico). Daniel Díaz Álvarez takes care of commercial litigation, concursos mercantiles, shareholders’ conflicts and public work disputes both on behalf of and against government bodies; ‘brilliant insolvency tactician’ Santiago Alessio focuses on corporate reorganisations, M&A, restructurings and bankruptcy; and Rodrigo Guaida, described by one client as ‘a star in the making with great commercial sense’, handles restructurings, corporate governance and M&A. Gabriela Avendaño was promoted to partner in January 2023; and Yoare Heredia is the name to note at associate level. Since publication, the firm has been notably strengthened with the arrival of an eight-strong group from Gonzalez Calvillo, including specialists in banking and finance, corporate and M&A, competition, and energy and projects - effective as of April 2024.

Creel, García-Cuéllar, Aiza y Enríquez, S.C. has a good reputation in the bankruptcy sector and is known for advising on insolvency proceedings, workouts, the liquidation of distressed companies and the restructuring of existing credit facilities. Its client roster is dominated by local and international banks and financial institutions. The practice is co-led by Carlos Aiza, who is particularly noted for his involvement in workouts, capital markets and corporate finance transactions; and Rodrigo Castelazo, who represents both debtors and creditors in insolvency proceedings. Of counsel Thomas Heather is noted for his contributions on restructuring and associated arbitration matters, and senior associate Christian Dorantes offers support across the board.

The ‘innovative’, ‘focused’ and ‘knowledgeable’ group at Guerra González y Asociados, S.C. handles bankruptcy and insolvency proceedings and credit recovery matters across an array of sectors, among them hospitality, tech and energy. The 30-strong team of lawyers stand out for its ‘professionalism, dedication to the issues and knowledge of bankruptcy matters’, and operates from offices in Mexico City, Monterrey, Monclova (Coahuila) and Matamoros (Tamaulipas). Clients appreciate that the practice’s three co-heads are ‘always available at the first call’ – Jaime R. Guerra González has decades of experience in bankruptcy matters and leads from Mexico City along with Alfonso Peniche García; while the ‘always prepared’ Jesús A Treviño specialises in litigation, insolvency and restructuring, and directs from the Monterrey office. Other key contacts include ‘essential resource’ Octavio Ochoa Huerta, along with Rogelio H. Palacios Beltrán and Raúl García Herrera.

The longstanding practice at Martínez, Algaba, de Haro y Curiel, considered by one client as a ‘benchmark in the industry’, specialises in working on the side of creditors in bankruptcy matters and out-of-court restructurings. A host of local and international banks and financial institutions favour the practice for its litigation and corporate skills, including Banco Santander, Citibank, HSBC Mexico and Scotiabank. The practice group is composed of a blend of both ‘mature and younger partners, all with extensive experience’, and is directed by a group of five experienced practitioners: Jorge de Haro, who stands out for his expertise in restructuring and litigation; Javier Curiel Obscura, who has focused his practice on corporate matters and litigation relating to the financial sector; Diego Gutiérrez Martínez-Parente (arbitration, litigation, bankruptcy and restructuring); Alejandro Legaspi Lanz (advisory to credit and banking institutions on bankruptcy proceedings); and the ‘extraordinary’ and ‘strategic’ Mauricio Mendoza, who handles bankruptcy and restructuring cases both in and out of court. Vicente Cuairán is the key name to note at associate level.

The 18-strong practice at Pérez Correa González handles the range of contentious and non-contentious bankruptcy and restructuring matters – its members regularly act as conciliators, mediators, receivers, and liquidators in bankruptcy proceedings. In recent months, the group has been instructed by banks and other financial institutions, hydrocarbons and logistics companies, as well as private individuals. A recent work highlight saw practice co-head Fernando Pérez Correa act as conciliator in the Perforadora Oro Negro and Servicios Petroleros Oro Negro bankruptcies. Alongside him, co-head Zulima González is active on Mexican and cross-border bankruptcy proceedings; José Covarrubias completes the leadership trio, bringing dispute resolution and arbitration expertise to the table.

Hogan Lovells’s practice offers both bankruptcy and restructuring expertise and has a good balance of financial and litigation practitioners. The team represents international funds and banks in Mexican insolvency proceedings and is particularly experienced at representing lenders in restructuring transactions; it also represents clients drawn from a broad range of industry sectors - including banking, automobile, food, insurance and technology. A recent standout matter saw the team represent Alloy Merchant Finance as lessor of power equipment to Grupo Famsa in the latter’s insolvency proceedings. Five partners lead the practice: Omar Guerrero Rodríguez handles commercial litigation, arbitration and bankruptcy proceedings; Federico de Noriega Olea specialises in out-of-court restructurings; Jorge Valdés King is known for commercial litigation, arbitration and bankruptcy proceedings; with finance specialist René Arce Lozano and litigator Luis Ernesto Peón Barriga completing the senior team.

Client-focused boutique litigation firm Mañón Quintana Abogados acts on all varieties of insolvency proceedings on behalf of both debtors and creditors. Recent work highlights include representing TEMSA -a Mexican company that provided telecom and IT solutions to the Mexican Government- in negotiations with its creditors, as well as drafting its restructuring agreement. The practice is led by founding partners Antonio Mañón, who has focused his practice on bankruptcy proceedings, arbitration and commercial litigation, representing banks, financial institutions and corporations from the automobile, retail, technology and private security sectors, among others; and Gerardo Quintana Pineda, who is well-versed in bankruptcy proceedings, civil and commercial litigation, and insurance litigation. Counsel Antonio Barrera  and senior associate Gerardo Sánchez Martínez left the firm in September and December 2022, respectively.

Mijares, Angoitia, Cortés y Fuentes S.C. houses an ‘efficient’ bankruptcy practice which assists all stakeholders in insolvency proceedings, financial restructurings, workouts and litigation. The group’s client roster includes major players in the energy, finance and mass media sectors (PEMEX, Banco Santander and Televisa). At the helm of the practice, Everardo Espino specialises in civil, commercial insolvency and administrative litigation. He is supported by a strong team of twelve associates with Ramiro Cota, who is experienced in insolvency proceedings and acting on civil and mercantile matters, being of particular note.

The bankruptcy and restructuring practice at Ritch, Mueller y Nicolau, S.C. is frequently instructed by clients in the real estate, telecoms, finance, aviation and mining sectors for its counsel on national and cross-border restructurings and insolvency matters. Noted for his skill in restructurings, Jean Paul Farah Chajín leads the practice alongside fellow co-head Pablo Perezalonso Eguía, who advises on the structuring and restructuring of secured and unsecured credit facilities for Mexican private and public sector borrowers. Advising both indebted companies and creditors, Adriana Padilla Rivas assists with restructurings and insolvency proceedings; and Luis Nicolau Gutiérrez has extensive experience counselling underwriters and issuers on debt and equity offerings.

The bankruptcy and restructuring practice at full-service firm Von Wobeser y Sierra, SC handles domestic and cross-border bankruptcy litigation and out-of-court restructuring for secured and unsecured creditors, debtors, investors and directors. Practice co-head Diego Sierra is experienced in contentious bankruptcy matters and is dual-qualified to practice in both Mexico and the United States; alongside him, Jessika Rocha represents debtors and creditors in bankruptcy proceedings and advises clients facing bankruptcy on preventative commercial strategies; and Raymundo Soberanis undertakes litigation in both domestic and international courts. At associate level, Alejandro Gonzalez and Gustavo Vaca are the names to note.

Acting on behalf of both debtors and creditors, the practice at Galicia Abogados S.C. assists with restructurings and distressed asset transactions; it has particular experience advising clients from the real estate, aviation, energy and construction sectors. Eugenio Sepulveda leads the team from the Monterrey office and handles all banking and restructuring matters, also bringing experience in M&A and project finance to the table. Senior associate Andrés Caro de la Fuente assists on debt and corporate out-of-court restructurings and bankruptcy proceedings.

The team at Santamarina y Steta advises both debtors and creditors on local and cross-border debt restructurings, and has particular strength representing clients in the aviation, infrastructure and finance sectors. At the helm in Mexico City are Carlos Olvera, an expert in civil and commercial litigation, restructuring, workouts and insolvency; and Ricardo Orea, who has experience in both insolvency and restructuring matters. Civil and commercial litigator Carlos Brehm co-leads the practice from the Monterrey office.

Lauded for its ‘rapid response time, knowledge and honesty’, the team at White & Case S.C. handles both commercial litigation and financial restructuring, assisting major domestic and international financial institutions. Practice head Enrique Espejel is an experienced litigator for creditors in high-profile bankruptcies, and is recognised for his ‘outstanding counsel, in-depth theoretical knowledge and skill at devising practical strategies’; María Teresa Fernández Labardini provides counsel on the full range of matters, including loan restructurings. Diego Mora-Jensen Garza was promoted to local partner in January 2023.

The practice group at LHO handles insolvency proceedings and has particular strength in advising clients from the energy and environmental sectors. A recent work highlight saw the group assist hydrocarbons company DG Impianti with its capitalisation of debt. A team of three partners and three associates co-lead the practice on an equal basis; the key names to note are Erik del Rio, whose background is in finance and M&A; and the ‘business-oriented’ Luis Miguel Ramírez Ruggeberg, who garners praise from clients for his professionalism and availability.